Here are the news articles you might find interesting today for commercial real estate and business:
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Clyde Wright Health Center Sells to Banner Health for ~$6.17m Banner Health of Phoenix has expanded the footprint of its Good Samaritan Hospital campus by acquiring the 93,411 ft2 Clyde Wright Health Center yesterday for $6,169,742 or $66.00 per square foot from a private ownership group led by Dale and James Zeitlin of Zeitlin & Zeitlin. The sale price is the sum of eight consecutively recorded deeds representing a consolidation of interest between and among the descendants of the original assemblers. View article…
APARTMENT INVESTORS SPEND $255.649 MILLION AS 2,321 VALLEY UNITS CHANGE HANDS IN 6 DAYS In less than one week’s time, eight Valley multi-family communities totaling 2,321 units have changed hands in transactions totaling $255.649 million ($110,146 per unit average). That span covered six days from February 14 to February 19. By comparison, the year-end 2012 rush to close sales resulted in a total of $126.85 million ($71,064 per unit average) being spent on the sale of 1,785 units. Those eight projects all traded in the last six business days of the year (the sales comparisons include only those properties of 100+ units that closed between December 26 and December 31 of 2012). While three of the year-end 2012 transactions accounted for $91.125 million and 996 of the total units sold, the recently completed six-day period was bolstered by a portfolio sale that included three Valley multi-family projects with $108.185 million changing hands for 927 of the units. View article…
Yodle expanding in Scottsdale with plans to hire 50 Yodle, a New York-based company that helps small businesses grow through online marketing, has plans to expand and hire at least 50 more employees by the end of the year at its Scottsdale SkySong office. View article…
HOUSING:
Risk of Default for Renters Down from Year Ago, Up Quarterly Renters across the country are less likely to default compared to a year ago, but the risk of not fulfilling lease obligations has increased on a quarterly basis, according to CoreLogic’s SafeRent Renter Applicant Risk (RAR) index report. View article…
Housing Starts Impacted by Distressed Inventory Housing starts declined 8.5 percent from December to January but remain 24 percent above last year’s rates, according to recent data from the Census Bureau and HUD. Capital Economics points out in a report that the recent decline is largely driven by the multifamily sector, while single-family starts actually rose 0.8 percent over the month. View article…