Commercial Real Estate & Business News – February 12, 2015

According to the latest American Institute of Architects’ (AIA) Consensus Construction Forecast, conducted in December, the national building activity level for non-residential real estate is climbing... Read more »
Prices for apartment properties rose again in 2014 as investors bought a larger volume of properties than they did even in 2007—the biggest year of the last real estate boom for apartments... Read more »
In this edition of Deal-Tracker, ORION Investment Real Estate facilitated the sale of The Glen condominiums located near 63th Avenue and Bethany Home Road in Glendale. The condominium complex consists of 200 total units, of which 129 were just sold for $5 million. The seller in the transaction was Janet Azar and David Farjoodi of The Glen Condominiums, LLC, which is based in Woodland Hills, CA. The buyer was North63 Holdings LLC, based in Vancouver. The transaction was negotiated by Christopher Roach and Joseph Dietz of ORION Investment Real Estate based in Scottsdale... Read more »
A company formed by Transwestern paid $58.85 million ($260.27 per foot) to buy Lincoln Towne Centre, a 223,605-square-foot office project at 4150 and 4250 N. Drinkwater Boulevard in Scottsdale. The seller was a company managed by Equus Capital Partners Ltd. The office complex, comprised of two, five-story structures, is 99 percent occupied... Read more »
A $40 million capital investment is proposed for the Chandler Airpark. If approved by the city council, Wingspan, a 250,000-square-foot office and hangar development would be built in multiple phases. The first component is an 80,000-square-foot hangar/office complex on 4.8 acres of the 16-acre lease area. The remaining development will be deferred until Chandler finishes construction of a taxiway to serve the North Terminal Area in which Wingspan is located... Read more »

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