Here are the news articles you might find interesting today for commercial real estate and business:
Summit Warehouse & Logistics Expands at Park 75 West Summit Warehouse & Logistics LLC, a third-party provider of warehousing, transportation, and logistics services, has signed a three-year lease deal valued at approximately $995,000 to expand at 7102 W. Roosevelt St. in Phoenix, AZ. Summit previously occupied half of the building, and now occupies the remaining 76,800 square feet. Located in Phase I of Park 75 West, the 153,600-square-foot industrial property delivered in 2000 and features 22 loading docks, two drive-in bays, and 2,400-amp heavy power. View article…
Greco and Sons Expanding in Phoenix Greco and Sons has purchased a 62,450-square-foot industrial building in Phoenix for $2,435,550, or $39 per square foot. The food supplier will take occupancy of the property in the first half of 2012, relocating from 4239 S. 43rd Place in order to expand operations. Located at 402 S. 63rd Ave, the manufacturing building sits on 5.25 acres and delivered in 2003. Features include 3,000-amp heavy power, five loading docks, and four drive-ins. View article…
Phoenix apartments sell for $800,000 A small Phoenix apartment complex has been purchased by a Canadian firm for $800,000. Woodridge Manor Holding Inc. of Vancouver, British Columbia, purchased Grandview Terrace, a 36-unit multi-family property located at 2424 E. Grandview Road in Phoenix. View article…
Z’Tejas plan in Phoenix drawing opposition Residents near 16th Street and Bethany Home Road have cheered the intersection’s growth over the past few years, as businesses such as Luci’s Healthy Marketplace, the Vig, Flip Dunk Sports and others have moved in and brought vibrancy to the neighborhood. But as the intersection continues to expand — most recently with the proposed addition of a roughly $3 million, 8,500-square-foot Z’Tejas on the southwestern corner — some businesses and residents have begun to wonder whether there will be enough space, parking and customers to keep pace with the growth they initially welcomed. View article…
Bad commercial real estate loans helped sink Western National Bank Western National Bank is the most recent bank to succumb to faltering commercial real estate loans in the Phoenix market. Commercial real estate loans were the key driver behind the bank’s failure, composing about 93 percent of the bank’s $28.4 million portfolio of non-performing loans for quarter ended Sept. 30, 2011, according to data from Trepp Bank Navigator. View article…
Forbes: Mesa among safest US cities Forbes magazine has named Mesa one of the safest cities in the country. The business magazine looked at violent crime and traffic fatalities to rank U.S. cities. Plano, Texas was safest followed by Henderson, Nev.. Mesa was seventh safest. 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.