Here are the news articles you might find interesting today for commercial real estate and business:
To view the January 2013 Chain Store Age magazine, click here…
To view the Vizzda December 2012 Analytics report, click here…
Through the Looking Glass As Americans struggle with the realities of a new normal – including slow economic growth, a $16 trillion debt load that has prompted new warnings by the major credit rating agencies, volatility throughout the world, and waning job growth – it is hard not to become discouraged about the state of the national economy and the outlook for all investments. View article…
Southwest Jet Corporate Center Sells for $9.6M A private investor from California acquired 14988 and 15010 N. 78th Way in Scottsdale, AZ for $9.6 million, or about $97 per square foot. The property consists of two buildings: a 58,025-square-foot industrial building constructed in 1996, and a 40,905-square-foot industrial building constructed in 2002. The site was 100 percent leased at the time of sale. View article…
McCarthy Building Companies Relocates to Phoenix with Building Purchase McCarthy Building Companies, Inc. relocated its Southwest division offices to the 6225 N. 24th Street building located within the prestigious Arizona Biltmore development in Phoenix. The nearly 150 year-old construction firm, which has had a presence in the Valley since 1979, relocated from Hayden Ferry Lakeside in Tempe to a building that was purchased and renovated by the company through a partnership with MRL Partners, a commercial real estate investment and advisory company headed by Randy Levin, in March of 2012. View article…
Smaller Users Drive Sector in 2012 In 2010 and 2011, the big news in the industrial sector was the big-box users and builders; the ones that came in and took down anywhere from 1 million to 2 million square feet of space. But the story was vastly different in 2012. “We finished the year with a positive net absorption of 7.4 million square feet and our vacancy went down to just under 11%,” comments Pat Feeney, senior vice president with CBRE. View article…
Local coffee cafe moves into bigger space Cartel Coffee Lab in downtown Phoenix has moved into some bigger digs. The local coffee cafe has moved into the former First Watch restaurant space at First and Washington streets downtown. View article…
Phoenix among top moving destinations of 2012 Phoenix was among the top moving destinations in 2012, according to Penske Truck Rental. The Reading, Penn.-based transportation services provider announced its annual list of top moving destinations Monday. Phoenix ranked No. 3, down from No. 2 in 2011. View article…
Phoenix up 10 spots in latest economic rankings Phoenix had been slipping in the On Numbers Economic Index over the past few months, but rebounded in January and jumped 10 spots. Phoenix now ranks 26th nationwide after ranking 36th to close out 2012. View article…
Local Real Estate Professional Discusses CCIM Conference (I am quoted!) TEMPE, ARIZ. – January 14, 2013 – Nicholas L. Miner, CCIM, vice president with Orion Investment Real Estate, was quoted in the January/February issue of Commercial Investment Real Estate, the magazine of the CCIM Institute. Please read his comments in “Winning at CCIM Live!,” which is available in the PDF file accompanying this release. View article…
FDIC Announces First 2013 Bank Failure Washington’s Westside Community Bank has the dubious honor of being the first to fall in 2013. The FDIC announced that the Washington State Department of Financial Institutions shuttered Westside on Friday. The bank’s two branches are reopening as branches of Irvine, California’s Sunwest Bank. View article…
HOUSING:
Phoenix luxury home market slowly recovering As metro Phoenix home values surged and foreclosures and short sales waned throughout last year, homes priced at the lower end of the market have received the bulk of the attention. View article…
The Rise and Fall of REO Sales REO sales no longer play the dominant role they once did in real estate transactions. The recent decline in REO sales, along with the decrease in inventory, is helping the market see an improvement in prices, according to a report from Corelogic. View article…