Quarterly Articles

Intel to Announce New Chandler Facility

The Arizona Republic :: August 14, 2012

Intel Corp. plans to build a new research and development facility on the eastern side of its campus at Chandler Boulevard and Rural Road, in Chandler, the company said Monday. The company would not release further details about the project, saying that it will un-veil them this morning at a 10a.m. news conference in Chandler. Intel, which produces semiconductor chips used in personal computers and servers, is in themidst of constructing a massive, $5.2 billion fabrication plant at its Ocotillo campus, also in Chandler, to produce microchips.

 

Liberty to Develop 140,000-SF Office for Aetna

GlobeSt.com :: August 16, 2012

Aetna Insurance has decided on a presence at Liberty Cotton Center Business Park with the development of a two-story, 140,000-square-foot office building. Cotton Center park owner Liberty Property Trust will launch construction on the building sometime this month, with delivery set for June, 2013. “Aetna is a valued national Liberty customer and we are pleased to have the opportunity to work together in Arizona,” says John DiVall, senior vice president and city manager for Liberty’s Arizona region in a press release describing the transaction.  Aetna signed a long-term lease on the building, which is being designed for LEED certification. Balmer Architectural Group designed the building and Wespac Construction is the general contractor. Both companies are in Phoenix.


Valley in Top 10 in US for Foreign Investors

The Arizona Republic :: August 11, 2012

For the first time, metro Phoenix was among the top 10 U.S. markets in terms of foreign investment in commercial-real-estate assets in the second quarter. Local real-estate analysts said a number of factors contributed to the boost in foreign investment in Phoenix, including a dearth of attractive, available commercial properties in coastal U.S. cities and the stabilizing of Phoenix-area real-estate prices. While Canadians have dominated the Phoenix area's offshore commercial-real-estate investment activity in recent years, there also have been purchases by European, Middle Eastern and Asian investors, analysts said.


My View: Coalition Looks to Clear the Road for Interstate 11

Phoenix Business Journal :: August 17, 2012

While it may seem like most of our economy moves through the Internet, billions of dollars still travel by ground. Arizona is poised to capture a greater share of those dollars by improving the transportation infrastructure with construction of a new interstate. In 1995, Congress designated the Canamex Trade Corridor to create a seamless and efficient roadway network for the transportation of goods, services and information among Canada, the United States and Mexico.


It’s Complicated: Seasonal Factors Hold Real Estate Prices Steady, but What's Next?

Arizona State University - W.P. Carey :: August 15, 2012

The June housing market report indicates that some stability may be returning to prices in Phoenix, however the market is complex and continues to be out of balance. Mike Orr, director of the W. P. Carey School’s Center for Real Estate Theory and Practice, reports that there was indeed little change in prices between May and June of this year. Comparing to June 2012, however, the evidence shows significant price recovery. Median sales price is up 29 percent to $15,000 and price per square foot is up 21 percent, to $98.11. Supply, however, continues to be down. There are 33 percent fewer homes for sale this August compared to August 2011. And the distressed supply is down 68 percent for the same period. Lower supply means fewer sales: single family home sales in June fell almost 16 percent compared to June last year. The lower end of the market, especially, is squeezed because of the drop in the supply of foreclosed properties.

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