By Corina Vanek | Phoenix Business Journal
Here’s a quick look at the major highlights of the year in commercial real estate in the Valley, with the top story from each month:
A bankruptcy court ruling opened up nearly 5 square miles of land near Desert Ridge Marketplace. California-based Crown Realty and Development acquired 96.5 acres of the land and master developer rights to a total of 5,700 acres.
Crown CEO Robert Flaxman was arrested later in the year in connection with a college bribery scheme that implicated dozens of high-net-worth individuals. Flaxman was sentenced to one month in prison for his role, but the project remains underway, and horizontal improvements have begun on some portions of the site.