Tuesday, July 16, 2019

Living Spaces Picks Scottsdale for 1st ‘Not-in-CA’ Store

Living Spaces, a home furnishing store chose Scottsdale for its first store outside of its home state to open a 130,000 sq. ft. store at 16275 N Scottsdale Road in the Promenade Shopping Center today. This is store number ten for the company and the very first outside the state of...

Data Centers in the Desert: Why Phoenix is a hotbed for...

  Reprint from Commercial Executive Magazine By Tim J. Randall Entering the complex there is a Fort Knox feeling reminiscent of the classic James Bond movie Goldfinger: security access, cameras, closed-circuit monitors, guards, and badges. While there is no Oddjob at this facility, there is definitely a feeling of control, precision,...

Walmart settles with US Labor Department

WASHINGTON —Walmart Stores, Inc., has entered into a corporate-wide settlement agreement with the U.S. Department of Labor to improve safety and health conditions in all 2,857 Walmart and Sam’s Club stores under federal jurisdiction. The settlement, which resolves two enforcement cases that began in 2011, includes provisions for the...

Third Multifamily Purchase for BH Properties this Year in Phoenix

BH Properties LLC, a Los Angeles-based commercial real estate investment firm that has a penchant for working through difficult transactions, time-sensitive closing factors and an expertise in repositioning real estate, has added Vista Ventana, a 275-unit multifamily property at 3221 W. El Camino Drive in Phoenix for $10.3 million...

EL CON WALMART COULD BE ALLOWED TO SELL ALCOHOL

Under a proposed compromise, Walmart and residents from the surrounding neighborhoods at El Con are hashing out a deal where in exchange for the retail giant closing its doors at 11:00 p.m every night, the neighbors would drop their opposition to the liquor license. Last month we reported that Walmart was...

Jarvis Joins Cassidy Turley in Tucson

Gay Jarvis has joined Cassidy Turley’s Property Management Group. Jarvis will oversee the management of Tucson West, a 150,000 SF building at 333 E. Wetmore in Tucson as well as the newly renovated Plaza Palomino, a 100,000 SF property at Swan Rd. and Fort Lowell in Tucson. “Gay is an...

Particulars and Players in Canada Safeway $5.8 Billion Deal

M&A activity has picked up recently in the Food Retail sector. Taking all things into account, it seems strategic buyers, management and private equity firms are willing to bet multi-billion-dollars on this sector. That kind of money always gets investors’ attention so we wanted to learn all the particulars...

American Furniture Warehouse Purchases 41.5-Acres in Glendale, AZ

American Furniture Warehouse purchased 41.5 acres for $9 million at 9801 W. Bethany Home Road in Glendale, AZ from Stearns Bank of Scottsdale, AZ in an REO sale. Located on the southeast corner of Bethany Home Road and 99th Avenue, the 41.5-acre site has one-half-mile frontage along the Loop 101,...

USA Place Invites USA Basketball & Omni Hotel to $350 Million...

The principals of USA Place, LLC Susan Eastridge, CEO of Concord Eastridge, Michael Hallmark, principal of Future Cities, and Robert Harris, CEO of Harris Sports & Entertainment are in final stages to realize USA Place, a $350 million mixed-use project in Downtown Tempe. Eastridge’s experience includes the development of more...

$25 M Courthouse Rehab only 3.8% of Proposed County Bond

Restoring the tiled turquoise dome of Pima County’s Old Courthouse, a Tucson architectural icon built in 1928, is a focal point of a $20 to $25 million proposal county officials are preparing to submit to the county bond advisory committee. The Spanish Colonial Revival courthouse, designed by prominent Tucson...

How Hudson’s Bay Co. Bought Saks for $2.9 Billion

Canadian Hudson's Bay Company (Toronto: HBC) and Saks Incorporated (NYSE: SKS) have announced a merger agreement whereby HBC will acquire Saks for $16.00 (USD) per share in an all-cash transaction valued at approximately $2.9 billion (USD), including debt. The congeneric merger brings together three of the retail industry's most iconic...

Hobby Barn Re-Opens After Renovation

Hobby Barn, the remote control airplane and helicopter specialists for Tucson, has been in business here since 1970. The business and building at 7025 – 7033 E 21st Street in Tucson, located northwest of 22nd Street and Kolb Road, were recently passed from Bill Hempel, founding father of the...
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