Here are the news articles you might find interesting today for commercial real estate and business:
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Clarion Partners buys Tempe property as part of $118M deal Clarion Partners LLC, a real estate investment manager based in New York, has purchased a Tempe warehouse as part of its acquisition of an industrial portfolio owned by Prologis Inc. in San Francisco. The $118 million portfolio includes the purchase of Kyrene Commons #3, a 156,400-square-foot warehouse located at 6655 S. Kyrene Road. View article…
Scottsdale apartment project proposed on Barcelona nightclub site A Scottsdale developer wants to tear down the once-popular Barcelona nightclub and build apartments on a site north of the Scottsdale Quarter. Scottsdale Place LLC submitted a rezoning request last week that would allow construction of a four-story, 240-unit apartment complex at 73rd Street and Greenway-Hayden Loop. The Residences at Zocallo Plaza would replace the nightclub and a nearby office building on a 6.42-acre site. View article…
Clifton Gunderson Relocating to Qwest Tower Clifton Gunderson, LLP, a CPA and consulting firm headquartered in Milwaukee, WI, will relocate its Phoenix office to Qwest Tower, where it will occupy 23,712 square feet on the 23rd and 24th floors for a seven-year term. The move is designed to accommodate the company’s planned expansion in the Phoenix market. At present, Clifton Gunderson occupies 17,453 square feet at Phoenix Corporate Tower at 3003 N. Central Ave. View article…
Moody’s: CMBS Delinquencies Hold Above 9% for Seventh Month The delinquency rate on loans in U.S. commercial mortgage-backed securities (CMBS) rose 22 basis points in July to hit 9.24 percent, according to data released Wednesday by Moody’s Investors Service. The increase follows two months in which delinquencies edged lower, and marks the seventh consecutive month Moody’s has recorded a rate above the 9 percent mark. View article…
Inc. 5000 list includes 97 Arizona companies Inc. magazine’s annual list of the 5,000 fastest growing U.S. companies is out this week, and nearly 100 Arizona firms are featured. The Inc. 5,000 list, which looks at the growth of the companies over a three-year period, covers a wide variety of industries. There are 97 companies based in Arizona on the list this year. View article…
How best towns in ‘Money’ list compare in SE Valley Money magazine’s annual Top 100 Best Places to Live analysis this year focuses on communities with a population of less than 50,000, snubbing Arizona altogether and making the Southeast Valley’s four largest municipalities ineligible for consideration. Gilbert landed the 36th spot last year when the magazine looked at cities of 50,000 to 300,000 people. View article…
Dip in Foreclosures Is Small Comfort Activity in the Phoenix real estate market dropped between June and July, during the summer season when sales are usually up. The reason is that foreclosure-related activity fell once again – dropping below 30 percent for the first time since 2009. Listen to Podcast…
Phoenix new home permits down 87% since 2005 Arizona’s construction sector has been battered and bruised during the recession, and data on new home permits shows just how hard the sector has been hit. U.S. Census Bureau data shows that there were 62,617 new home permits issued in the Phoenix area in 2005. View article…
Feel free to contact me regarding any of these stories, the current market, distressed commercial real estate opportunities or your property.