Here are the news articles you might find interesting today for commercial real estate and business:
To view the November 2012 Scotsman Guide commercial edition, click here…
To view the November 2012 Chain Store Age magazine, click here…
UltraStar to open 165,000-square-foot dining and entertainment center As more movie theater companies get into the foodservice business, UltraStar Cinemas is set to open one of the largest dining and entertainment centers in the nation on Nov. 15. Vista, Calif.-based UltraStar will open a “multi-tainment center” at Ak-Chin Circle in Maricopa, Ariz., covering 165,000 square feet. The new center, which is located next to Harrah’s Ak-Chin Casino, will offer restaurants, bars and bowling alleys, as well as cinema. View Article…
CCIMs connect to close a $1.9 million retail deal. “We didn’t know each other prior to the transaction, but the shared designation gave me the confidence that I was working with an educated professional,” says William P. Clarkson, CCIM, of Realty Executives Commercial in Scottsdale, Ariz. After a difficult search for a property with space for woodworking, Susan C. McCall, CCIM, of Commercial Property Connect in Gilbert, Ariz., represented PELCOM LLC in the $1.9 million purchase of six retail buildings totaling 11,136-sf in Scottsdale from Clarkson’s client, Mandall Family Trust. McCall credits the transaction, in part, to concepts that both designees learned in the CCIM core courses. View article…
Is CMBS Primed for a Comeback? Commercial mortgage-backed security (CMBS) delinquencies fell for the fourth straight month in September, according to Fitch Ratings’ latest index results. Multifamily loan delinquency rates in particular fell to 9.95 percent, down from 10.18 percent the previous month. Although the conduit sector presents competition to Fannie Mae and Freddie Mac, John Cannon, head of production at Freddie Mac, says the competition indicates a healthy market. “We’ve clearly seen a reemergence of what I would call capital markets, the artist formerly known as conduit lending,” he says, expecting that competition will rise in the next 18 to 24 months. View article…
CMBS Delinquency Rate Makes Biggest 2012 Drop The delinquency rate on U.S. commercial real estate loans saw its biggest drop in more than a year in October, according to Trepp, LLC. The analytics provider released its October 2012 U.S.CMBS (commercial mortgage-backed securities) Delinquency Report, revealing that the delinquency rate for commercial real estate loans in CMBS fell 30 basis points to 9.69 percent. The drop was the biggest one recorded in 14 months and marks the third straight month in which overall delinquency has improved. View article…
HOUSING:
Measure of US home prices rise most in 6 years A measure of U.S. home prices jumped 5 percent in September compared with a year ago, the largest year-over-year increase since July 2006. The gain reported by CoreLogic offered more evidence of a sustainable housing recovery. The real estate data provider also said Tuesday that prices declined 0.3 percent in September from August, the first drop after six straight increases. The monthly figures are not seasonally adjusted. CoreLogic says the monthly decline reflects the end of the summer home-buying season and not a softening in the housing recovery. View article…
Volunteers to convert Phoenix motel into veterans housing Honeywell volunteers will spend Nov. 8 and Nov. 10 converting a former Phoenix motel at 34th and Grand avenues into housing for homeless veterans. The renovations are a project by nonprofit Rebuilding Together Valley of the Sun. Volunteers will improve landscaping and lighting, paint walls and stain a front patio. View article…
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