CONSTRUCTION FIRMS ADD 11,000 EMPLOYEES IN OCTOBER AS SECTOR’S EMPLOYMENT IS AT THE HIGHEST LEVEL SINCE DECEMBER 2008 DESPITE DROP IN PUBLIC SPENDING

Construction employers added 11,000 jobs in October as employment in the sector is at the highest level since December 2008 despite declines in public sector investments in construction projects, according to an analysis by the Associated General Contractors of America. Association officials noted that average hourly earnings for construction workers increased by 3.2 percent compared…

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Stiles Realty Team Closes More Than $6.2M in Industrial Sale Trifecta

Fort Lauderdale-based Stiles Realty announced today that vice presidents Patrick Conness and Mike Crissy recently completed a sales trifecta that encompassed two industrial building sales and a land sale for a total of more than $6,200,000. In the first and largest transaction, Conness and Crissy represented Silest, LLC in the sale of a 46,562-square-foot multi-tenant…

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James DuMars of NorthMarq arranges financing for $32M sale of San Diego Business Park

James DuMars, senior vice president/managing director of NorthMarq Capital’s Phoenix-based regional office arranged a $16.65 million loan on the $32 million acquisition of an 11-building office/warehouse/flex business park, totaling approximately 208,500 square feet, in San Diego, Calif. The transaction was structured with a 5+5 term on a 25-year amortization with 3-years of interest-only and flexible…

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MARCUS & MILLICHAP ARRANGES THE SALE OF A 4,075-SQUARE FOOT NET-LEASED PROPERTY

Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Chick-Fil-A Ground Lease, a 4,075-square foot net-leased property located in Hutchinson, KS, according to Donald D. Morrow, regional manager of the firm’s Phoenix office. The asset sold for $1,240,000.…

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City of Peoria Awards Plaza Companies Negotiating Rights To Critical 14-Acre Commercial Parcel Along Loop 101

The City of Peoria is continuing to push its economic development efforts with a new agreement with Plaza Companies on a critical 14-acre parcel at the Loop 101 and Peoria Road. The Peoria City Council voted last week to grant Plaza Companies exclusive negotiating rights on the city-owned parcel with the goal of creating a new commercial office complex to attract new…

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2016 AIA ARIZONA DESIGN AWARDS

The Arizona component of The American Institute of Architects recognized excellence in architectural projects and practices at the 2016 AIA Arizona Design Awards Gala on Oct. 14 at the Phoenix Art Museum. Over 400 architects, students, clients and industry professional gathered in celebration of the projects and companies being honored at this premier event. The…

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