RadioShack Axes 1,100 Stores; Others May Follow

Following double-digit quarterly sales declines in the fourth quarter and mounting losses year over year, Radio Shack Corp. said Tuesday it would close as many as 1,100 RadioShack stores, about 20% of its total, with the possibility of more closings in the future. CEO Joseph Magnacca says that even after the closings announced Tuesday, “We will continue to have a strong, unmatched presence across the US with over 4,000 stores… Read more »

LGE Plans Paired Corporate Offices at DC Ranch

A new Class A office is on the horizon at DC Ranch Corporate Center. LGE Design Build is proposing a pair of buildings with 35KSF between them. One of the buildings is a 24 foot tall two-story structure, the other is an 18 foot tall single story. The buildings, situated on the curve of the road, maintain area viewsheds… Read more »

Commercial/Multifamily Delinquencies Buoyed By Rising Property Values

Commercial and multifamily delinquency rates continued to decline in the fourth quarter of 2013, the latest Mortgage Bankers Association Commercial/Multifamily Delinquency report found. The 60+ day delinquency rate for commercial and multifamily mortgages held in life portfolios dipped… Read more »

Mesa 9th Best City for Jobs

Wallethub.com has named Mesa as the ninth best city in America for job seekers according to a report recently published on its website. The site listed 60 cities and Phoenix was named number 14. Washingtonian-based Wallethub used a ranking system based on 13 metrics including job openings per capita, cost of living and the availability of employer-provided health benefits… Read more »

Momentum builds for I-11 route through Arizona

A prominent economic-environmental group has given the proposed Interstate 11 through Arizona a conditional green light, signaling growing acceptance of an ambitious project that was little more than an idea two years ago, transportation planners said Monday. State transportation departments in Arizona and Nevada are wrapping up a two-year feasibility study into linking Phoenix and Las Vegas… Read more »

Leclerc Foods Adds Phoenix Facility

Leclerc Foods USA, a North American cookie, snack bar and cracker manufacturer, announces the acquisition of a 166,500-square-foot building in the Freeport Business Center for expansion of its operations in Phoenix. The building is located at 440 S. 51st. Ave. Resulting from an investment of nearly $50 million… Read more »

Snowbirds Flock To Valley For Its Climate, Amenities

From October to May, Snowbirds flood restaurants, golf courses, RV parks and roadways in the Valley. Snowbirds are typically retirees who aim to avoid the snow and cold of northern states and spend their winters in warmer climates… Read more »

10.29 Acres of Entitled Land Transacts in Gilbert for $204,082 per Acre

Porchlight Homes has purchased a 10.29 acre lot near the intersection of Higley Rd & Williams Field Rd entitled for 44 single family homes. The property traded for $2.1m, which reflects as $204,082 per acre or $47,727 per planned lot. There were four separate debt documents issued with the sale, securing $6.754m total debt with three different lenders… Read more »

Tesla’s Potential Arizona Gigafactory Will Be Cutting Edge

Tesla Motors yesterday announced plans for a $1.6 billion convertible note to help finance what could end up being what of the most cutting-edge battery factories in the world. A fierce competition has broken out between Nevada, New Mexico, Arizona, and Texas… Read more »

Posh ‘Easy Street’ Project In Carefree Gets New Life

Plans for a $90 million project with condominiums over retail shops in Carefree have been revived and negotiations are under way to anchor the development with a Phoenix Art Museum satellite location. Town leaders have announced the revival of developer Ed Lewis’ “Easy Street” project… Read more »