Here are the news articles you might find interesting today for commercial real estate and business:
U.S. Real Estate Markets: Hitting the Pause Button Real estate markets across the nation are coming back nicely, but deal flow is slowing over concerns about the debt situation in Europe, the financial stalemate in Washington, and the continued volatility in the global markets, says the chief executive officer (CEO) of one of the country’s top real estate firms. “Things are going a little slower than expected,” notes Michael D. Fascitelli, president and CEO of Paramus, New Jerseybased Vornado Realty Trust and a trustee of the Urban Land Institute. View article…
Dick’s Sporting Goods starts building Goodyear center Dick’s Sporting Goods began construction this week on a 50-acre distribution facility in Goodyear that will supply its stores in the western United States. The center is expected to open in January 2013. It will employ 120 at first, but the number could increase to as many as 300 over a decade. The company expects the center to service 160 of its stores. View article…
CFOs predict weak growth for economy in 2012 Just 38 percent of U.S. chief financial officers expect the economy to expand in 2012, according to the annual Bank of America Merrill Lynch CFO Outlook survey. That’s down from 56 percent a year ago. The 600 executives who responded to the survey gave the economy a rating of 44 out of 100 – equaling the lowest score in the survey’s 14-year history. That’s down from a rating of 47 a year ago. View article…
HOUSING:
Phoenix-area Foreclosure Rate Slightly Back Up For only the second time this year, the monthly foreclosure rate has gone up in the Phoenix area. According to a new report from the W. P. Carey School of Business at Arizona State University, foreclosures made up 29 percent of the existing-home transactions in the market in November. That’s an increase from 26 percent in October, but the report’s author assures it’s not significant. View article…
Fed: House Flipping Led to Deeper Housing Collapse There’s been much debate over the root causes of the housing meltdown that catapulted the nation into the worst financial crisis in 80 years – from lax lending and subprime loans to over-leveraging in the secondary market. A new report from researchers at the Federal Reserve Bank of New York focuses on the sharp run-up and subsequent collapse in housing prices during the 2000s. View article…
SAMPLE OPPORTUNITIES:
Bella Vista Retail Center – 10.5% Cap Rate! Investment, multi-tenant retail center. For a brochure, click here…
5051 & 5057 E Thomas Road – Former Dentist Office and Former Real Estate Office For Sale. For a brochure, click here…
Kokopelli Springs in St. David, AZ – Investment, 56 unit mobile home park. For a brochure, click here…
7320 N Dreamy Draw – Freestanding Office Building in Squaw Peak Corridor-great owner/user opportunity. For a brochure, click here…
Feel free to contact me regarding any of these stories, the current market, distressed commercial real estate opportunities or your property.