Here are the news articles you might find interesting today for commercial real estate and business:
CBRE Completes Five Retail Investment Sales in Metropolitan Phoenix CBRE has completed five separate sales transactions involving the following retail properties located throughout the greater Phoenix area: Seaspray LLC of Boulder, Colo., has purchased Shea Retail Center, a 12,716-square-foot retail strip center located at 7337 E. Shea Blvd. in Scottsdale, Ariz. View article…
Scottsdale apartment complex sells for $1.7 million A 24-unit Scottsdale apartment complex has been sold for $1.7 million, or just over $70,800 per unit. A real estate investment partnership called 2778 Loker LLC has purchased the Los Porticos apartments from Oregon-based Rosedale Investments LLC. View article…
Scottsdale Healthcare expanding to Phoenix Scottsdale Healthcare has announced they’re ready to expand: Hospital leaders are looking for a site to build an outpatient facility in northeast Phoenix. “Consumers are demanding access to quality healthcare closer to home,” said Keith Jones, Scottsdale Healthcare spokesman. “What we are doing is working collaboratively with our physicians to find the best way to expand beyond hospital care.” The new campus will include primary and specialist physician’s offices, radiology, therapy, occupational health and wellness services and maybe an outpatient surgery center. View article…
State Farm Inks Big Leases, Hiring 500 Workers for Call Center State Farm Insurance Co. is making a significant investment in the Discovery Triangle. Check out great coverage in the Phoenix Business Journal. State Farm recently leased two buildings:
160,000-square-feet building at Priest Drive and Washington Street in Tempe
202,000-square-feet building at 44th and Van Buren Streets in Phoenix
The locations’ proximity to the Light Rail and an existing State Farm Tempe operations hub were among key factors. View article…
Arizona company opens first vehicle charging station A Scottsdale-based company is opening the first of 26 planned charging stations for electric vehicles along Interstate 10 in Arizona. Officials with GOe3, Secretary of State Ken Bennett and members of the Clean Cities coalitions are having a ribbon-cutting ceremony Saturday at the Bowlin Travel Centers’ Picacho Peak Plaza between Phoenix and Tucson. View article…
Macerich Marketing Midscale Malls For Sale Mall owner Macerich Co. wants to sell more than hoodies and sneakers this holiday season. The company, based in Santa Monica, Calif., recently began marketing at least 16 of its 59 U.S. malls for sale as it seeks to prune the bottom half of its portfolio, according to people briefed on the matter. A Macerich representative declined to comment. But the company’s listing of the malls has been a topic of conversation at the International Council of Shopping Centers convention in New York City this week. View article…
CMBS Delinquency Rate Down to Two-Year Low: Fitch A “surge” in new issuances brought down the CMBS delinquency rate in November to a two-year low, according to a report from Fitch Ratings. The November CMBS delinquency rate stood at 8.17 percent, representing a decrease of 12 basis points (bps) from 8.29 percent in October, the ratings agency reported. The decrease marks the sixth consecutive month the rate has fallen and is the lowest level since November 2010, when the rate was 7.96 percent. View article…
Fiscal Cliff Concerns Bring Down Consumer Confidence A preliminary report from Thomson Reuters and the University of Michigan shows consumer confidence took a major hit to start December as Americans anxiously watch for signs from Washington on budget negotiations. The Thomson Reuters/University of Michigan Index of Consumer Sentiment fell to 74.5, a substantial drop from November’s promising 82.7. The median forecast from economists polled by Reuters was 82.4. View article…