Tag Archives: Commercial Real Estate

Phoenix is One of the Fastest-Growing Cities in the Country

Mar 23, 2017

Eleven major metropolitan areas, including Phoenix, are growing at a pace of more than 1,000 persons per week, based on population estimates issued this morning by the U.S. Census Bureau.

phoenix,real,estate,2017,historicThe federal agency released July 2016 estimates for 382 metros and 3,142 counties across the nation.

American City Business Journals, the parent company of the Phoenix Business Journal, used the new federal data to calculate weekly growth rates. Phoenix landed at No. 8 on the list. The Valley’s population rose from an April 2010 total of 4.19 million to a July 2016 estimate of 4.66 million, translating into a net increase of 1,436.2 persons a week.

Topping the list was the Houston metropolitan area, which saw a net increase of 2,612.3 persons per week.

The Dallas-Fort Worth area was second with a weekly net gain of 2,474.6 persons. Rounding out the top five were the New York City, Atlanta and Miami-Fort Lauderdale metros, all with population increases larger than 1,500 persons per week.

The other metros above the weekly threshold of 1,000 were Washington, Los Angeles, Phoenix, Seattle, San Francisco-Oakland and Austin.

The analysis also identified 11 major metros that suffered population declines during the six-year span. The worst weekly loss was posted by the Cleveland area, which slipped by 21,646 persons between April 2010 and July 2016, a net drop of 66.4 per week.

Three other major metros experienced weekly net losses of more than 25 persons: Youngstown, Ohio; Pittsburgh and Scranton/Wilkes-Barre, Pa. The remaining decliners were Syracuse, N.Y.; New Haven, Conn.; Hartford; Toledo; Buffalo; Akron, Ohio; and Rochester, N.Y.

If you’re looking to relocate to the Phoenix area, contact Laura Boyajian today.

Elvis Presley, Johnny Cash music publisher’s estates look to sell prominent Phoenix land

Jan 13, 2017

Land is for sale at the southwest corner of Indian School Road and Central Avenue in midtown Phoenix neighboring Willo Historic District, Encanto-Palmcroft Historic District, FQ Story, Alvarado and Ashland Place districts.

That is one of the busiest intersections in the region and is also on the Metro light rail systems. The land is owned by real estate entities managed by trusts of the Aberbach family.

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Richard Nixon and Elvis Presley

Julian J. Aberbach, who died in 2004, was the music publisher for Elvis Presley. Music publishers do deals related to song writing and royalties when compositions are used.

Public records and real estate databases show land at the Indian School/Central land is owned by Aberbach Investments LLC and Vembec LLC.

Those entities are managed by estates for Julian J. Aberbach and his family.

Greg Vogel’s Land Advisors Organization is marketing the land.

The corner was previously home to an AM/PM gas station which is no longer there, parking lots and a Yoshi’s restaurant.

Vogel said the land for sale totals approximately 3 acres with an asking price of $50 per square foot.

Vogel sees the Indian School/Central land as a good spot for a new apartment development.

Julian Aberbach and his late brother Joachim Jean Aberbach were in the music publishing business and forged deals with Elvis Presley, Ray Charles and Johnny Cash.

Julian Aberbach died in 2004 at age 95.

The New York Times outlined in his obituary the business ties to Presley whom he first forged a deal with in 1955. That included telling Presley to hire songwriters to provide him more music.

“I gave Elvis a check for $2,500, an advance against the royalties of his stock ownership,’’ Aberbach said in a 2002 interview with Billboard magazine according to the Times obit. “And he promptly went to the Cadillac dealer and got a pink one.”

Elvis first appeared on the “Ed Sullivan Show” in 1956.

Land Advisors is a leading real estate firm in the state and region. Vogel’s group forged the deal that is bringing Lennar-developed apartments to the northwest corner of McDowell Road and Central Avenue.

by Mike Sunnucks Senior Reporter Phoenix Business Journal

Architects to Take Over Historic Phoenix Building

Mike Sunnucks Senior Reporter | Phoenix Business Journal | Sep 19, 2016

An international architecture firm has leased and will renovate a historic mid-century building in Phoenix.

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A rendering of the interior

Minneapolis-based Cuningham Group Architecture has leased the Farmers & Stockmens Bank Building at Washington and 50th streets near Papago Park.

The 6,000-square-foot building was built in 1951 by famed Los Angeles architect William Pereira.

He also designed the Transamerica Pyramid in San Francisco, Luke Air Force Base in Glendale, CBS Television City in Los Angeles, the Arizona State Prison in Florence and much of Los Angeles International Airport.

The Washington Street building has a historic designation from the city of Phoenix.

Cuningham Group currently has its Phoenix offices near First Avenue and McDowell Road north of downtown Phoenix.

The architecture firm plans on moving this fall.

“For a firm such as ours that deeply respects good design, it is an honor to make this landmark our home,” said Cuningham Group Principal Nabil Abou-Haidar. “There is a clean-lined simplicity to the building that remains attractive to this day. It is certainly an approach we bring forward in contemporary architecture for our clients, and in our other offices around the world.”

Cuningham’s Phoenix office has approximately 20 architects and designers.

The firm’s project portfolio includes work in South Korea, China as well as Disney’s California Adventure.

Cuningham Group is leasing the 1950s era bank building from owners Mike and Gary Smith. They own Phoenix-based Jokake Companies, which acquired the property and in partnership with the city of Phoenix in 2015.

They restored the building’s exterior.

“We are delighted we were able to save the historic property,” said Jill Clements, president of Jokake Real Estate Services. “There are not many historic buildings left in the Phoenix area. So when we were able to save this one, we were thrilled. The Smiths are happy to be working with such a prestigious architectural firm as Cuningham Group and look forward to their long-term tenancy at the property.”

Call Laura Boyajian for all of your Historic Phoenix Homes Buying and Selling needs.