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Commercial Real Estate & Business News – August 27, 2014

August 27, 2014 by Nick Miner, CCIM   No comments   Filed Under: Daily News

Apartment Construction Ominously Nears 25-Year High
If you live in a major U.S. city and look out over the skyline, chances are good you’ll see construction cranes. Lots of them. Only twice in the past 25 years have new apartment buildings been going up as fast as they are right now. That’s not necessarily a good omen. The first time, in February 2000, was right before the dot-com bubble burst. The second time, January 2006, came right before the housing bubble burst. Now we learn that builders broke ground on 423,000 new multifamily units in July, right before…who knows what?… Read more »
LA Attorney with Ties to USC, Nike Buys Phoenix Building for $22M
Charles Griffin Cale’s Griffin Opportunties has acquired a 145,000-square-foot building near Interstate 17 and Greenway Parkway. The 9.6-acre property is leased to Climatec. The Phoenix-based company makes building and energy systems and products… Read more »
Lincoln Property Buys Phoenix Warehouses for $12.7 Million
Lincoln Property Group has acquired a 220,000-square-foot distribution complex in Phoenix that houses a Nestle water bottling operation. Dallas-based Lincoln — which owns a number of properties in the Phoenix market — bought the Freeport Distribution Center at 51st Avenue and Buckeye Road for $12.7 million… Read more »
High-End Apartments Under Construction Near Biltmore Area
Construction started today on a high-end apartment complex called Park 28 near Phoenix’s upscale Biltmore area. The 152-apartment project is going up on a four-acre site at the northwest corner of 28th Street and Indian School Road… Read more »
Kitchell Finishes 171KSF Patient Tower at Chandler Regional
Kitchell recently completed a 171,000-square-foot expansion at Dignity Health Chandler Regional Medical Center, adding 96 beds and bringing the hospital’s bed count to 339, while adding and expanding comprehensive services… Read more »

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Nick Miner, CCIM

ORION Investment Real Estate
7150 E. Camelback Road
Suite 425
Scottsdale, AZ 85251

480-226-8037
nick@nickminer.com

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