Commercial Real Estate & Business News – August 26, 2014

IREM Report: Shopping Centers Generating More Income

Shopping centers across the country are generating more sales and income, based on the latest findings from Chicago-based IREM. The association?s 2014 Income/Expense Analysis: Shopping Centers reports that the median income for open shopping centers across the country stood at $17.18 a square foot in 2013. That?s up from $16.18 a square foot in 2012… Read more »

Obscure, Chinese-backed developer eyes $1.2B project on banks of Tempe Town Lake

The city of Tempe is poised to sell 11 acres of land on Tempe Town Lake to a developer who claims financial backing from Chinese and commodities-trading interests. The plan? A $1.2 billion, 2 million-square foot development on the parcels. Tempe is preparing to sell the lakeside parcels to Scottsdale-based TrendEx Holdings LLC for $17.6 million… Read more »

TA Associates Drops $68 Million For Office-Retail Project In Chandler

A limited partnership formed by TA Associates Realty in Newport Beach, Calif. paid $68 million ($287.64 per foot) to buy 236,405 sq. ft. of office and retail space within The Park at San Tan project in Chandler. The purchase included a 216,517-square-foot office building and 19,888 sq. ft. of retail space located just south of the southwest corner of Ray Road and the 101 Loop… Read more »

Investors Taking Advantage of Loan Rates . . . Owners Have Leverage Over Leverage

With historically low interest rates, favorable terms and an abundance of lenders, the climate for borrowers financing commercial real estate is as good as it has ever been. Permanent financing options are abundant with a smorgasbord of lenders armed and ready to loan large sums of money. There is healthy financing competition from life insurance companies, federally guaranteed Fannie Mae and Freddie Mac, CMBS (commercial mortgage backed securities) and conventional banking institutions… Read more »

Arizona Muscles Its Logistics Assets with Sun Corridor Megapolitan Area

Arizona?s Sun Corridor is an economic extension of Southern California when it comes to setting up logistics businesses. Five hours from the Los Angeles metro industrial areas, logistic businesses find total operating costs are as much as 25 percent less in the Sun Corridor than Los Angeles… Read more »