Commercial Real Estate & Business News – March 5, 2014

RadioShack Axes 1,100 Stores; Others May Follow

Following double-digit quarterly sales declines in the fourth quarter and mounting losses year over year, Radio Shack Corp. said Tuesday it would close as many as 1,100 RadioShack stores, about 20% of its total, with the possibility of more closings in the future. CEO Joseph Magnacca says that even after the closings announced Tuesday, “We will continue to have a strong, unmatched presence across the US with over 4,000 stores… Read more

LGE Plans Paired Corporate Offices at DC Ranch

A new Class A office is on the horizon at DC Ranch Corporate Center. LGE Design Build is proposing a pair of buildings with 35KSF between them. One of the buildings is a 24 foot tall two-story structure, the other is an 18 foot tall single story. The buildings, situated on the curve of the road, maintain area viewsheds… Read more

Commercial/Multifamily Delinquencies Buoyed By Rising Property Values

Commercial and multifamily delinquency rates continued to decline in the fourth quarter of 2013, the latest Mortgage Bankers Association Commercial/Multifamily Delinquency report found. The 60+ day delinquency rate for commercial and multifamily mortgages held in life portfolios dipped… Read more

Mesa 9th Best City for Jobs has named Mesa as the ninth best city in America for job seekers according to a report recently published on its website. The site listed 60 cities and Phoenix was named number 14. Washingtonian-based Wallethub used a ranking system based on 13 metrics including job openings per capita, cost of living and the availability of employer-provided health benefits… Read more

Momentum builds for I-11 route through Arizona

A prominent economic-environmental group has given the proposed Interstate 11 through Arizona a conditional green light, signaling growing acceptance of an ambitious project that was little more than an idea two years ago, transportation planners said Monday. State transportation departments in Arizona and Nevada are wrapping up a two-year feasibility study into linking Phoenix and Las Vegas… Read more