Real estate center just fits in at ASU East - East Valley Tribune: Business

Real estate center just fits in at ASU East

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Posted: Wednesday, November 3, 2004 6:15 am | Updated: 4:50 pm, Thu Oct 6, 2011.

Nov. 3, 2004

If there is a perfect place for a real estate center, it’s in the fast-growing south East Valley, where home lots are snapped up by people who camp out to get the perfect spot in the newest neighborhood.

Arizona State University’s real estate program and its

Arizona Real Estate Center

moved from Tempe to the university’s campus at Williams Gateway Airport. The move was made because the center fits in with the mission of the campus, said Jay Butler, associate professor and director of the center.

"In the university redesign that was started under (university) President (Michael) Crow, the idea was that each of the campuses will have somewhat different missions, the East campus being predominately a polytech-type professional level schools with somewhat of a metropolitan focus," Butler said.

"Real estate, both in the center and in the real estate undergraduate program, fits that need. We were one of the first to make that move, but there will probably be many others doing it too."

Some real estate courses began being offered at Arizona State University East in January, before Crow’s announcement in April that the program and the center would move.

The center conducts and publishes three quarterly studies on the Phoenix real estate market — The Phoenix Metropolitan Housing Study, The Phoenix Metropolitan Office Study and The Phoenix Metropolitan Retail Study.

MOVING ON UP

Scottsdale-based P. F. Chang’s China Bistro is finally moving to Scottsdale. And Scottsdale-based Cold Stone Creamery is moving out, sort of.

Confused? Let’s explain.

Chang’s current corporate office is in Kierland Commons on Scottsdale Road. It’s a Scottsdale address, 15210 N. Scottsdale Road, but it’s really on land in Phoenix. Yet all of the company’s press releases and marketing information say its headquarters is in Scottsdale.

Chang’s planned move into office space at at 7676 E. Pinnacle Peak Road will really put its headquarters in Scottsdale.

Grubb & Ellis, which brokered the deal, said the company purchased the 50,728-square-foot office building and 17.2 acres of adjacent land that would allow for future expansion of up to 25,000 square feet of new space.

The sale price for both the building and land was $12 million. The building, constructed in 1998, was previously occupied by Travelers Insurance.

In Cold Stone’s case, the company is moving its headquarters from Scottsdale Airpark into 67,000 square feet of office space at Via de Ventura and Loop 101. While the company will have a Scottsdale address, it’s actually in the Salt River Pima-Maricopa Indian Community.

The company plans to move in May. It has 170 employees now, and plans to

have 220 when it moves.

BOTTOM’S UP

Remember the Discount Tire commercial featuring the old lady who throws a tire through the glass storefront window?

The Scottsdale company said the spot was recently named the longest running television commercial by Guinness World Records.

The commercial first aired in 1975.

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