Archive for April, 2015

American Apparel under scrutiny by U.S. regulator for possible violations

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(Reuters) – American Apparel Inc said in a filing on Wednesday that the U.S. Securities and Exchange Commission has ordered an investigation into a potential legal violation related to Dov Charney, the company’s former chief executive officer. – more at businessinsider.com

Banner buys YWCA building near flagship Phoenix hospital campus

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Banner Health, Arizona’s largest health system, paid $1.85 million for the YWCA office building near its downtown Phoenix hospital campus. The 31,746-square-foot building at 755 E. Willetta Street is near Banner University Medical Center Phoenix campus, which was known as Banner Good Samaritan Regional Medical Center until Banner bought University of Arizona Health Network earlier this year. – more at businessjournals.com

Soundoff: Leaders talk big projects in the West Valley

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The Arizona Republic regularly asks West Valley leaders to share their thoughts on issues. This week’s Soundoff question: What is the most significant capital project in the works for your city this year? The Arizona Republic regularly asks West Valley leaders to share their thoughts on issues. This week’s Soundoff question: What is the most significant capital project in the works for your city this year? – more at http://azc.cc/1C4JQbd

Blackstone Is Said to Buy Three Hotels for $1.3 Billion

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Blackstone Group LP agreed to buy three high-end U.S. resorts for about $1.3 billion from a group led by Paulson & Co., according to a person with knowledge of the transaction. The properties are the JW Marriott and the Ritz-Carlton in Orlando, Florida, and the JW Marriott in Scottsdale, Arizona, said the person, who asked not to be identified because the deal isn’t public. – more at bloomberg.com

Hannay spends $600 + per foot for Scottsdale Road retail plaza

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Scottsdale – A limited partnership formed by Hannay Investment Properties in Phoenix (Craig Hannay, pres.) paid $14 million ($605.12 per foot) to acquire a 23,136-square-foot retail plaza located north of the northwest corner of Scottsdale Road and Lincoln Drive in Scottsdale. – more at brewaz.com

Grand Plans for Papago

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Lincoln Property Company has been selected to develop the final phase of one of the largest business parks in Arizona, The Grand at Papago Park Center, a 60-acre, high-profile, urban mixed-use property on the last developable parcel within the 350-acre Papago Park Center. At build-out, The Grand will have a total of 1.8 million square feet of Class A space in six buildings. – more at inbusinessmag.com

Midtown Office Tower Goes for $18M

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PHOENIX—Investors Warranty of America, Inc., a subsidiary of AEGON USA, has sold Security Title Plaza, 3636 N. Central Ave. in Phoenix. Heckethorn Towers, LLC, a unit of Reven Capital of La Jolla, purchased the 219,032-square-foot, 12-story office tower for $18 million. – more at globest.com