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Commercial Real Estate & Business News – April 11, 2013

Here are the news articles you might find interesting today for commercial real estate and business:

To view the April 2013 Real Estate Forum magazine, click here…

KIERLAND AREA SHOPPING PLAZA SELLS FOR $25.35 MILLION . . . THAT’s $217 PER SQUARE-FOOT A company formed by Ryan Denk of RD Advisors LLC and Bob Mariash of Mariash Corp., both Scottsdale companies, paid $25.35 million ($217.02 per foot) to acquire the 116,809-square-foot Kierland Village Center shopping plaza located at 6501 E. Greenway Parkway in Scottsdale. The seller was the developer of the center, Kierland Village Center LLC, a company managed by A&C Properties Inc. in Phoenix (Joseph Cattaneo, principal). View article…

Commercial real estate sector poised for big rebound As consumer confidence grows alongside the housing market’s steady rebound, there is an equal sentiment now emerging nationwide among economists and analysts about the potential of the commercial real estate market. Economists and analysts are now notably more optimistic about the commercial market than they were six months ago, increasing their previous predictions for transaction volume and lending activity over the next three years, according to a survey released Wednesday by the Urban Land Institute and Ernest & Young. View article…

CRE Liquidity: Too Much, Too Little or Just Right? Morgan Stanley and Bank of America/Merrill Lynch are going to market in the coming days with a CMBS offering that has a kind of scary dj vu feeling to it for investors. The loans in the offering (MSBAM 2013-C9) have a 98.8% loan-to-value (LTV) ratio, according to Kroll Bond Rating Agency. That is above the high end of the range of the last 11 CMBS conduits Kroll has rated since September 2012. View article…

Will Co-Working Erode Demand for Office Space? Co-working – the latest trend in workplace strategies – could be the catalyst that shakes up the staid office market. The tradition of “one worker, one desk” may soon be a thing of the past. Companies across industries are eliminating offices, private work stations and cubicles in favor of team-oriented and shared workspaces. View article…

HOUSING:
$9.5 million North Phoenix project eyed for low-income housing An agency that assists homeless families is planning a $9.5 million development in north Phoenix that would provide low-income housing. The United Methodist Outreach Ministries Phoenix, UMOM, bought 3.3 acres at 10825 N. Cave Creek Road in 2012. The non-profit wants to develop the North Mountain Village Apartments on the site. The project would consist of five independent buildings, which would include 48 affordable family apartments. View article…

For the first time in 4 years, cash home buyers aren’t king in Phoenix The old expression that “cash is king” has been reality for the metro Phoenix housing market since the downturn – until now. Cash purchases, mostly by investors, were dethroned of their four-year reign last month when they were outnumbered, albeit only slightly, by conventional loans, according to a report this week by Grand Canyon Title Agency Inc. in Phoenix. There were 2,188 homes Valleywide that were purchased with conventional mortgages last month, eclipsing cash sales by only 44 the report said. View article…