HAPPY HALLOWEEN!!
Here are the news articles you might find interesting today for commercial real estate and business:
T W Lewis acquires 20 finished custom home lots in Acacia for $3,126,956 or $156,347 per lot Patrick Adler vice president of acquisitions for T W Lewis closed a deal October 29, 2012 with David M Maloof principle of Maloof Commercial and Kreg Korinek of P W Feenstra Construction for 20 custom home lots in Acacia located south of the southwest corner of Higley & Riggs Rds in Gilbert, AZ. The 20 finished custom lot are planned for semi-custom one-story homes ranging in size from 3,460 SF to 3,838 SF. The lots have a minimum of 120 ft by 170 ft (20,400 SF) and the following setbacks: 30 ft in front, 15 ft sides and 30 ft in rear. The gated community of Acacia totals 55 lots on 39.50 acres. View article…
Investor Group Sells 13.73 Recently-Platted Acres for $5.1m Ashton Woods Homes has acquired 13.73 acres of raw land at the Southwest corner of 32nd Street and Deer Valley Drive for $5.1m or $8.53 per ft2from a Florida and New Jersey-based investor group. Ashton Woods paid cash for the parcel. A final plat map for the property – referred to in documents as Ridveview – was approved October 19th, 2012. View article…
Grand Canyon University pays $6.4M for 15 acres in Phoenix for expansion Grand Canyon University will use the $150 million originally earmarked for a Massachusetts expansion in its own backyard. This comes a day after its parent, Phoenix-based Grand Canyon Education Inc., turned down a 217-acre campus in Northfield, Mass., from Oklahoma-based Hobby Lobby Stores Inc. View article…
Construction begins on senior housing in downtown Mesa Mesa officials held a ceremony Monday morning to mark the start of construction on Encore, a five-story, 81-unit independent senior living center in downtown. The project had some critics early on as neighboring businesses expressed concern about a low-to-moderate income housing development in an area that’s trying to pick up from the recession. But officials Monday marked the need for the facility, for the city and its future residents. View article…
Delayed Z’Tejas plans to start construction A proposed north central Phoenix Z’Tejas restaurant mired in legal conflict is moving forward with construction plans 10 months after originally scheduled. Restaurant officials say residents could start seeing construction in a few weeks. The restaurant was prepared to begin construction at a shopping center on the corner of 16th Street and Bethany Home Road in January, but the developers stalled those plans when conflict erupted between the shopping center’s landlord, Bethany 16th LLC, and a fellow tenant, Zipps Sports Grill. View article…
Youfit Health Clubs expanding across Phoenix area The business model for health clubs is getting a workout as Youfit Health Clubs prepares to open its seventh club in the Valley. Youfit’s strategy is based on appealing to people who desire a more consumer-friendly gym where they pay for the things they use, a niche Youfit Founder Rick Berks believes is not being met by clubs that offers pools, indoor tracks, tanning beds and expensive, long-term contracts. Youfit has opened 42 clubs across three states: Arizona, Florida and Georgia, since it started in 2008. View article…
HOUSING:
Will the Upcoming Election Shed Some Light on Shadow Inventory? Ever since the notorious subprime mortgage meltdown and subsequent collapse of the housing market in 2007-2008, many of the nation’s lenders found themselves loaded down and plagued with a plethora of foreclosed real estate holdings. View article…
Case-Shiller: August Home Prices at 2-Year High U.S. home prices continued to increase in August as the Case Shiller 20-city Home Price Index increased 0.9 percent to its highest level since September 2010. The 20-city index is up 2.0 percent in the last year. At 145.87, the index was down 12.9 percent from where it was just before the 2008 presidential election. View article…
Homeownership Rate Stays Near Historic Lows The number of households owning homes reached 75,076,000 in the third quarter, increasing from 74,832,000 in the second, but down from 75,251,000 a year ago, the Census Bureau reported Tuesday. At the same time, the nation’s homeownership rate (seasonally adjusted) remained at 65.5 percent. The homeownership rate stayed near historic lows. The rate in the first quarter was 65.4 percent, the lowest since the first quarter of 1997, when the rate was also 65.4 percent. The homeownership rate peaked at 69.2 percent in the second quarter of 2004. View article…
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