Here are the news articles you might find interesting today for commercial real estate and business:
To view the December 2012 Chain Store Age magazine, click here…
Texona Huntington Apartments Noticed For Trustee Sale $18.0M or $37,500 Per Door Lattitude Management Real Estate Investors, acting as the servicer for a securitized financial instrument issued by Legg Mason Real Estate Capital, had the trustee record a notice for trustees sale on an $18.0M loan now in default. The loan is secured by the Texona Huntington Apartments, formerly known as the “Tradewinds Apartments,” which is a 480 unit apartment complex located at 2145 W Broadway Rd in Mesa. View article…
LongHorn Steakhouse kicks off Arizona expansion with Mesa restaurant LongHorn Steakhouse will open its first Arizona restaurant next week in Mesa, with plans for an additional four to six locations in the Phoenix area during the next two years. The Mesa restaurant will open Dec. 11 at 1434 S. Alma School Road and employ between 80 and 100 workers in its 6,300-square-foot space. View article…
Julia Baker Confections store coming to Biltmore Fashion Park Just in time for the holidays, Scottsdale-based Julia Baker Confections will open a retail store at Biltmore Fashion Park next week. The confectionery will open Dec. 17 between Williams-Sonoma and White House/Black Market at the high-end shopping center, near 24th Street and Camelback Road. View article…
Arizona Cardinals camp could end up at UOP Stadium in Glendale The Arizona Cardinals are considering moving their training camp out of Flagstaff, and one option could land it at University of Phoenix Stadium in Glendale. The team could use the domed stadium where it plays its games for indoor practices, use existing sports fields outside the UOP stadium and work with the city of Glendale on development of other training camp facilities. View article…
Multifamily Bubble on the Horizon? It’s easy to see why multifamily construction is booming: vacancy rates are falling and rents are on the rise, making investments in rental property particularly attractive. According to the Harvard Joint Center for Housing Studies’ “The State of the Nation’s Housing 2012” report, multifamily starts surged 54% from 2010 to 11. And in the first quarter of 2012, they were up 36.1%. Despite the optimism, several risk factors are pointing to a potential multifamily housing bubble. Developers and their lenders should proceed with caution. View article…
Capital Markets Outlook: Low Rates, More Lenders in 2013 While rent hikes in 2013 probably won’t match the robust rates seen the past couple years, rock-bottom debt pricing should continue unabated in 2013. Given the Fed’s commitment to prevailing monetary policies, the low-rate environment won’t retreat any time soonthe federal budget’s looming fiscal cliff notwithstanding. Meanwhile the budding re-emergence of Wall Street conduits should help keep other conventional apartment lenders quoting tight spreads, multifamily finance pros agree. View article…
HOUSING:
Why another real estate boom won’t help Phoenix I should probably never go to another real estate trends forecast. Having been in the real estate and tech markets in Arizona for over 40 years, I’ve got a different perspective from the other attendees at these events. I like to think I see a bigger picture. For five years, these commercial real estate guys and home builders have been waiting for the real estate market to come back. Now the consensus of real estate professionals who provided input to the PWC Emerging Trends 2013 report is that it is back, albeit sluggishly. View article…
New home permits soaring around Phoenix The continued surge in existing home prices and a tight supply of properties on the market throughout metro Phoenix has been causing a ripple effect on the new home market, which saw a 65 percent year-over-year increase in new-home permits in October, according to the latest housing report from RL Brown in Phoenix. View article…