Commercial Real Estate & Business News – October 8, 2013

Tempe Centerpoint Faces New Future with New Owner

Charley Freericks, president of Scottsdale-based DMB, said he looks forward to historic Centerpoint on Mill’s new future. When DMB purchased the land 28 years ago, the city was hoping to redevelop an area that had deteriorated. The site became DMB’s first large-scale, mixed-use development… Read more

Whitestone Bolsters Valley Holdings…Pays $20.55 Million For Fountain Hills Plaza

Whitestone REIT in Houston, Tex. has bolstered its portfolio of retail properties in the Valley with the $20.55 million purchase ($184.65 per foot) of a shopping center in Fountain Hills. The 111,289-square-foot Fountain Hills Plaza is located at 16605 E. Palisades Boulevard… Read more

Strip Mall Market Slow to Recover

Empty strip malls still plague U.S. shopping centers, as the commercial sector continues to struggle with oversupply from last decade’s housing boom, according to a report from Reis Inc., a real estate research firm. “Retail is incredibly sticky,”… Read more

Commercial Real Estate Transaction Volume Rises Nearly 60 Percent

Deal flow among members of the CCIM Institute increased 57 percent year over year according to an August 2013 intelligence survey conducted by the National Association of Realtors in conjunction with the CCIM Institute.Results of the survey and other commercial real estate market trends were published in… Read more

The Shutdown Snarls the Mortgage Market

As the U.S. government shutdown enters its second week, home buyers and sellers are learning just how big a role the federal government plays in the lending process. Lenders, acting more cautiously in the aftermath of the mortgage meltdown, now often check with the Internal Revenue Service to make sure borrowers earn as much as they claim… Read more