Commercial Real Estate & Business News – February 14, 2014

Odds of Getting a Job in the Western U.S.? Best in 6 years

The odds of finding work in Western states nearly matched the national average in December, nearly ending a six-year run of tougher prospects for the jobless in the West, federal data shows... Read more

Kornwasser Cleared for Next Phase at Higley Pavilion Shops

A frontage pad and corner building are moving towards development at Kornwasser Shopping Center Properties' Higley Pavilion. Anchored by a Lowe's Home Improvements, the partially-developed 256KSF shopping complex, E. Queen Creek and S. Higley roads, Gilbert, will grow by 12KSF in a pair of new buildings... Read more

Gilbert Readying 60-Acre City Gate for Development

A rezoning application generated by an annexation is setting the stage for a 60-acre commercial development in Gilbert. The City Gate property is owned by Woodbury Corporation, Salt Lake City, Utah. It is being recommended by the planning and zoning commission to the city council for a rezone from the county's rural RU-43 district to the town's Regional Commercial... Read more

Taylor Morrison Plans to Top $1 Billion in Spending on Land Acquisition, Development this Year

The Scottsdale-based home builder, which went public in April, saw its fourth-quarter earnings before income taxes climb by nearly one-third to $121.54 million. Its 42 percent plunge in year-end earnings before taxes was mostly attributed to the costs of its initial public offering that raised about $591 million... Read more

Standard at Valley Ho Site Sold for $5m

The 3.3 acre vacant parcel that adjoins the Hotel Valley Ho and The Mark Condominiums in Scottsdale has sold for $5m or $34.78 per square foot. Brian Tusa of Dallas-based multifamily developer, Trinsic Residential acquired the property for cash on behalf of a joint-venture with P.B. Bell and Associates... Read more

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