Commercial Real Estate & Business News – April 23, 2014

Phoenix Retail Market Goes From Bleak to Bright

When the recession was in full swing, one of the markets that took the biggest hit was Phoenix. Residential and commercial real estate were overbuilt in the market, and the retail sector became a casualty. That’s all changing now, as retailers are starting to expand into the market. Retail real estate vacancy rates in Phoenix are currently around 10.5% and expected to fall below 10% by the end of the year… Read more

Holiday home sales rise strongly in the US, but still down on peak of 2006

Holiday home sales in the United States rose strongly in 2013, but investment purchases fell below the levels seen in the previous two years, according to new data from the National Association of Realtors. The NAR’s 2014 investment and vacation home buyers survey… Read more

Apartments Near Mesa’s Falcon Field Proposed

A proposal to build apartments near Falcon Field, which already is under siege from neighbors complaining about airplane noise, ran into heavy flak last week from City Council members. The request comes in the form of a proposed major General Plan amendment filed by Daedalus Real Estate Advisors LLC, which owns Longbow Business Park and Golf Club… Read more

Pain Center Opens New Location in Glendale

The Pain Center opened the doors on its new 12,000 square-foot new administrative headquarters in Glendale with a ribbon-cutting ceremony recently, says Your West Side Valley. The new administrative facility is located at 5281 N. 99th Ave., not far from Westgate… Read more

Dept. Of Real Estate Board’s New Member To Address Property Management Issues

By way of Gov. Jan Brewer’s signature last week, the multifamily property management business will be represented for the first time on the Arizona Department of Real Estate’s advisory board. Senate Bill 1213, Brewer signed on Thursday, requires one extra member to be added to the current nine-member board. The 10th member must be a licensed broker with at least five years experience in the property management field… Read more