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UPS Opens 30,000-SF Processing Center UPS Mail Innovations has opened a new processing center in suburban Phoenix. The 30,000-square-foot facility will improve service to companies in Arizona and New Mexico that rely on UPS to manage their outbound mail processing. View article…
Goodwill Retail Operations Center opens in west Phoenix Twila Andring bought a red, like-new Liz Claiborne T-shirt, and her friend Tanya Alvarado found Disney clothes and three Barbie dolls for her 3-year-old daughter. She even found a sweater for her French bulldog, Ralphie. View article…
CenturyLink tabs Phoenix as regional HQ after Qwest acquisition CenturyLink Inc. has named Phoenix as a regional headquarters for its company once its acquisition of Qwest Communications International Inc. is finalized. View article…
Scottsdale companies add more than 700 jobs this year Yelp and Sage Software are the big new players in town, but Scottsdale’s economic-development efforts have added more than 700 jobs in the city this year. Sage Software, which develops accounting programs, has invested about $2.3 million in its facilities and employs 300 people here. View article…
Phoenix No. 100 out of 200 in brainpower It pays to have a college diploma — and preferably more than one. The U.S. Census Bureau says a worker with an advanced degree will earn 31 percent more than a colleague with a bachelor’s degree, and 128 percent more than somebody who never went beyond high school. View article…
Economists: Arizona on the brink of bouncing back Arizona’s economy is on the cusp of a slow recovery after three years of decline, an Arizona State University economist said Wednesday. View article…
Brookings: Phoenix’s recovery from recession will be slow Phoenix faces a long climb out of the recession, according to a new economic report from the Brookings Institution. The Washington think tank’s report, released today, projects flat income and job growth for Phoenix for 2009 and 2010 as the U.S. and global economies recover. View article…
Small business hiring rises in Arizona Arizona small business employment grew by 0.5 percentage points in November, according to Intuit Inc.‘s employment index. Arizona was one of three states sharing second place in growth, just short of Massachusetts 0.7 percentage points. View article…
Morgan Stanley Sets Its Sights Lower During the boom years, Morgan Stanley’s vaunted real-estate investing unit bought trophy office buildings in San Francisco, a Boston development project, and glittering lodging properties like Hawaii’s Grand Wailea resort. These days, the Wall Street giant is scouring the fringes of the property market in the hunt for high returns. One of its recent deals: a half-empty 60,000-square-foot shopping center in California’s Inland Empire that houses a Fresh & Easy Neighborhood Market. View article…
Commercial Delinquencies Are on the Rise Again The delinquency rate for commercial mortgages bundled into bonds jumped again in November after seeing a big dip in the previous month, according to new data from data provider Trepp. Last month, 8.93% – or $60.3 billion – worth of the loans packaged into commercial-mortgage-backed securities, or CMBS, were 30 days or more past due or in foreclosure, compared with 8.58% in October. View article…
Stars Are Aligned for Bullish Apartment Outlook in 2011 The apartment sector shines as the healthiest commercial real estate property type. Forecasters expect multifamily property revenues to climb throughout 2011, thanks to moderate job growth and accelerating household creation. View article…
Deal Flow Mushrooms, But Real Estate Recovery Hinges on Job Growth The nation’s credit markets are showing early signs of stabilizing after the long and harsh economic crisis, and deal volume across the commercial real estate spectrum is increasing. But the job market remains volatile, and until it shows greater strength, the office, multifamily and other property types will continue to suffer. View article…
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Feel free to contact me regarding any of these stories, the current market, distressed commercial real estate opportunities or your property.