Here are the news articles you might find interesting today for commercial real estate and business:
To view the Boulder Net Lease Dollar Store report for December 2012, click here…
HSL Adds Sundown Village Apts to Growing Portfolio HSL Properties, Inc. purchased the Sundown Village Apartments at 8215 N. Oracle Rd. in Oro Valley, AZ for $18.55 million, or about $56,000 per unit, from a group of investors including Golf Villas Associates LP, JIK Sundown LLC and Place Associates. The complex consists of 330 units across 279,758 square feet in 34 two- and three-story buildings. The complex was constructed in two phases in 1984 and 1994 on 14.9 acres. 48 percent of the units are two-bedroom and 43 percent are one-bedroom, with the remaining 26 units in a three-bedroom layout. View article…
Kansas university may buy Crowne Plaza San Marcos Golf Resort Kansas-based Ottawa University has confirmed that it is exploring purchasing downtown Chandler’s historic Crowne Plaza San Marcos Golf Resort to convert it into a residential campus. Kevin Eichner, the university’s president, stressed that considerations were preliminary and that other sites were being studied. But he said Chandler was “a great city with a number of attributes we find attractive for our business model.” View article…
Lennar Homes Picks Up Large Portion of Rock Springs II in Peoria Alan Jones Vice President of Lennar Homes has closed on 69.25 acres of rough graded lots and 5 finished lots in phase II of the Rock Springs community in Peoria, Az for $13,992,402. A purchase agreement between the transacting parties was dated September 28th, 2012. The seller was Courtland Homes who previously acquired approximately 120 acres (3/4 of the project) from California Portland Cement Co on May 23rd, 2003 for $2,364,283.45 with $25,000 down. The remaining 40 acres (northeastern 1/4 of the project) was acquired from Thomas Tait of TTI Investments on March 31st, 2004 for $3,022,852.50. View article…
MinuteClinic continues expansion in Mesa MinuteClinic has opened its second walk-in medical clinic in Mesa. The clinic is inside the CVS Pharmacy store at 1212 S. Greenfield Road. The newest clinic is the 19th Arizona location for the Woonsocket, R.I.-based provider of retail-based medical clinics. View article…
2013 Tax Increase – From Dave Tornell at IPX 1031 One of my business associates just sent to me the below scenario for investors to consider on whether to sell their investment property this year and pay the tax or next year. Here is his work up for your review: Capital Gain Tax-Absent any action from Congress, the Federal Capital Gain Tax Rate increases on January 1, 2013 to 20% from 15% for gain recognized on appreciation in value. The Tax Rate on the Recapture of Depreciation is scheduled to remain unchanged at 25%. View article…
Fresh & Easy supermarkets may be sold off by Tesco British supermarket giant Tesco said it is considering selling its Fresh & Easy Neighborhood Market stores and will probably leave the United States altogether. The sprawling retailer, which owns more than 6,000 stores worldwide, has already received inquiries from companies interested in acquiring all or part of Fresh & Easy, Tesco said Wednesday in a statement. View article…
WWII Memorial to break ground at Arizona Capitol Arizona Secretary of State Ken Bennett and the Salute the Fallen Committee will break ground Dec. 7 on the construction of a WWII Memorial in Wesley Bolin Memorial Park at the state capitol in Phoenix. The groundbreaking will immediately follow the Pearl Harbor Day remembrance ceremony in the Plaza, which begins at 10:55 a.m. on Friday. The groundbreaking will be near the USS Arizona anchor, and is slated to run from noon to 12:30 p.m. View article…
Experts forecast Arizona growth in 2013, but jobs recovery 3 years away Both the Arizona and U.S. economies are poised for mild growth in 2013, but a full jobs recovery in recession-battered Arizona is still several years off. That’s the take from top national and regional economists who spoke Wednesday at the 49th Economic Forecast Luncheon co-sponsored by Arizona State University’s W.P. Carey’s School of Business and JPMorgan Chase. View article…
HOUSING:
Maricopa seeing a growth in flipping homes The housing market in Maricopa is unlike any other in the state, with more people buying and flipping residences. According to Business Insider, the city of Maricopa has seen a 140 percent year-over-year increase for housing permits. They also are seeing houses being bought and then re-listed at higher prices, some within as short as six months. View article…