Archive for the ‘Chandler CRE’ Category

PHOENIX, Ariz.–(BUSINESS WIRE)–More than 400 relocation industry specialists from around the world gathered today at the JW Marriott Desert Ridge in Phoenix, Ariz., for The Prudential Forum, a three-day networking event hosted by Prudential Relocation, Inc., a Prudential Financial, Inc. [NYSE: PRU] business. This year’s program, themed We’re Invested in You, brings together relocation and real estate professionals, relocation clients and service providers to enhance communications between the different, interdependent groups and explore ideas for improving the service delivery process. Read the rest of this entry »

Purchase is example of how drug developer is generating interest in city, Chandler says

Luci Scott and Edythe Jensen
The Arizona Republic

A big-name investment group with plans for a business park has snapped up 76.6 acres next to the future Covance site.

City officials say the land deal at Queen Creek and Gilbert roads, made public earlier this month, is a sign that the drug development giant is attracting national interest – and investment dollars – to Chandler. Read the rest of this entry »

John McLean
Arizona Business Gazette

Flocchini Associates LLC/Van Wagner Family Partnership of Reno sold the Grove at Black Canyon office building at 11001 N. Black Canyon Freeway to NSD Holdings of La Jolla, Calif., for $18.9 million.

Brian Ackerman, Chris Toci, Ted Harrison and James Greaves of Cushman & Wakefield of Arizona Inc. negotiated the sale transaction for the four-story 95,653-square-foot building. The buildingis 96 percent leased by Cigna Healthcare of Arizona. Read the rest of this entry »

Conversion of Former Park Plaza Hotel Part of $4 Million Renovation

    CHANDLER, Ariz., Jan. 15 /PRNewswire-FirstCall/ — Carlson Hotels Worldwide today announced the 159-room hotel located at 7475 West Chandler Blvd. in Chandler, Ariz., has been rebranded as the Radisson Phoenix-Chandler. The conversion of the former Park Plaza hotel, owned by Hospitality Properties Trust (HPT), a major hotel industry real estate investment trust, is part of a $4 million renovation that began in early 2005 when Carlson Hotels Worldwide first assumed management responsibilities for the property. Read the rest of this entry »

The Republic

Sprouts Farmers Market, which says it is one of the fastest growing grocery retailers in the nation, opens its second Chandler store Tuesday on the northeastern corner of Alma School and Queen Creek roads. The store will be open from 8 a.m. to 10 p.m. Read the rest of this entry »

Sean Holstege
The Arizona Republic

Two years before the light-rail system opens, private investors are starting to pump more than $1 billion into new developments near the rail stations.

The investments promise to reshape key corners and neighborhoods along the 20-mile route, an infusion that is typical of light-rail systems but is occurring earlier in the Valley than in other cities. Read the rest of this entry »

Forecast for the Valley’s commercial properties is mixed but mostly sunny

Yvette Armendariz
The Arizona Republic

Most people whose livelihoods depend on knowing such things, expect commercial real estate in the Valley to have a very merry 2007.

The consensus is that rents in all sectors will grow, vacancies will remain low – even as many more buildings go up – and institutional investors will continue pouring money into the area. Read the rest of this entry »

John McLean
Arizona Business Gazette

The Ackerberg Group, on behalf of its Warner Crossings LLC investment, sold Warner Crossing, two office buildings at 8260-8312 S. Hardy Drive in Tempe, to International Capital Partners of Scottsdale for $23 million.

Mindy Korth, Barry Gabel and Mark Dancer of Trammell Crow Co. in Phoenix represented the seller. The buyer was self-represented in the purchase of these buildings totaling 137,484 square feet. Read the rest of this entry »

Luci Scott
The Arizona Republic

Chandler is about to join the “green” building trend and get what appears to be the city’s first officially green office building: a two-story structure as part of Chandler Piazza, an 18-acre mixed-use project that is to include a hotel, retail and restaurants on the southeastern corner of Frye and Ellis roads. Read the rest of this entry »

Developer maintains control, has year to find equity lender

Luci Scott
The Arizona Republic

Jeff Cline, the developer of the troubled hotel-condo project at Chandler Fashion Center, has obtained a bridge loan of $24 million – saving the project from a foreclosure auction that had been scheduled for February.

The loan won’t be enough to get work restarted, but it buys Cline time – up to a year – to find an equity lender that would allow him to continue with construction. It also means he will retain control of the project. Read the rest of this entry »