Here are the news articles you might find interesting today for commercial real estate and business:
Tov view the November/December 2011 Apartment Finance Today, click here.
December 2011 Commercial Repeat Sales Analysis Now Available CoStar Group released the latest findings of the CoStar Commercial Repeat-Sale Indices (CCRSI) last week, providing the market’s first look at October 2011 commercial real estate pricing and offering the broadest measure of commercial real estate repeat sales activity. The National Composite Index of commercial real estate prices recorded an impressive 1.8% monthly gain in October, continuing its upward trend. View article…
Big developers jump into apartments The Wall Street Journal reports this morning on how major office and shopping mall developers are moving into the new waters of apartment developments. That includes Macerich, which is the parent company of Westcor and owner of Scottsdale Fashion Square, Chandler Fashion Center, Paradise Valley Mall and Arrowhead Towne Center. View article…
Chandler Industrial Sells for $3.2M Turbo Resources acquired the industrial building at 4013 W. Lindbergh Way in Chandler, AZ from First Financial Bank for $3.213 million, or about $58 per square foot, in an REO sale. The 55,000-square-foot warehouse was constructed in 2005 in the Chandler industrial submarket. The property was 100 percent vacant at the time of sale. View article…
Bureau of Land Management grants NextEra solar project in Buckeye NextEra Energy Resources LLC has been granted approval for a 300-megawatt solar power plant in Buckeye, the first such approval on federal lands in Arizona. The U.S. Department of Interior and Bureau of Land Management announced the decision Tuesday on the Sonoran Solar Energy Project, which will be a massive photovoltaic power plant just off State Route 85. View article…
Twin Peaks joins Phoenix restaurant fray Arizona’s Tilted Kilt Pub & Eatery is seeing more local and national competition in its segment of the always competitive restaurant landscape. Tempe-based Tilted Kilt and Clearwater, Fla.-based Hooters are seeing a growing number similar concepts in what’s become known as the “breastaurant” segment. View article…
Immigration agency leases former grocery store space The U.S. Citizenship and Immigration Services agency has leased more than 46,000 square feet of commercial space near Phoenix Sky Harbor International Airport. The federal agency has taken occupancy of the building at 1330 South 16th Street. The building was previously a grocery store and has been outfitted for the federal immigration agency. View article…
New Gilbert center helps medical-marijuana applicants Although the status of medical marijuana remains a bit hazy in Arizona, facilities that help people apply for patient cards continue to spring up — including in Gilbert. The Green Cross Patient Center opened in Gilbert nearly two months ago in a small strip mall on the southern side of Baseline Road, between Gilbert and Lindsay roads. View article…
‘Play Ball!’ will launch museum site downtown Mesa’s downtown museum district is an the verge of getting a kid brother. The Mesa Historical Museum is setting up shop in a vacant storefront next to the Mesa Arts Center in hopes of establishing a permanent downtown presence. The address is 51 E. Main St., the middle section of a city-owned building whose future was debated this fall by the City Council. View article…
Arizona No. 8 in population growth Arizona ranked No. 8 in the nation for population growth over the past year, according to newly released data from the U.S. Cenus Bureau. Arizona added 90,000 residents between April 1, 2010, and July 1, 2011. That equates to a 1.42 percent growth rate. Both in raw numbers and percentage terms, Arizona ranked eighth for growth. View article…
For Every Two Homes for Sale, There’s One in the Shadows The number of distressed properties not currently listed for sale on multiple listing services (MLSs) stood at 1.6 million as of October 2011, according to CoreLogic. This shadow inventory is approximately half of the industry’s visible inventory of homes available for sale, CoreLogic says. Thus, for every two homes available for sale, there is one home in the “shadows.” 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.