Here are the news articles you might find interesting today for commercial real estate and business:
To view the November/December 2011 edition of Affordable Housing Finance, click here.
To view the December 2011 edition of Commercial Property Executive, click here.
Chandler Regional Medical Center opens ostomy clinic Chandler Regional Medical Center has opened the Ostomy Clinic to provide care, education and support for those living with an ostomy. An ostomy is an opening in the body surgically created to discharge waste, or to relieve or cure the symptoms of a disease or condition affecting the digestive or urinary tract system. The most common reason is cancer treatment. View article…
Controversial casino plays better in Peoria The Tohono O’odham Nation doesn’t have a lot of friends in Glendale for its proposed casino at 95th and Northern avenues just north of University of Phoenix Stadium and Westgate City Center. Just ask Glendale Mayor Elaine Scruggs what she thinks of the casino proposal. But across the street in Peoria, the reception isn’t so chilly. View article…
Scottsdale hotels see occupancy dip in October Scottsdale hotels saw their first year-over-year occupancy decline in October, though 2011 is shaping up as a much stronger year than 2010. New data from STR Global show occupancy in October (the most recent data available) was 63.5 percent, a 3.2 percent decrease from October 2010. View article…
Arizona construction sector sees job gains Construction jobs have increased in the Phoenix metro area and across the state, according to new figures released today by the Associated General Contractors of America. Phoenix picked up 2,900 construction jobs from Oct. 2010 to Oct. 2011, while statewide, there was an increase of 4,600 jobs. View article…
ASU unveils new downtown solar system Arizona State University will debut its newest solar system on the roof of the Walter Cronkite School of Journalism and Mass Communication in downtown Phoenix next week. The 75-kilowatt system, costing $815,000, has been installed and will be dedicated Tuesday. View article…
Retail Real Estate Pros Optimistic as ICSC New York Show Begins With a strong Black Friday under their belts, retail real estate pros are in good spirits as the annual ICSC New York National Conference and Dealmaking got underway on Monday. The show is the second largest annual industry gathering, aside from the mammoth RECon show in Las Vegas each May. ICSC reported more than 6,200 pre-registrations for the show, exceeding the figures from recent years. View article…
RREEF to Get Plenty of Bidders, Experts Say If Deutsche Bank puts its RREEF business on the market, its asset management portfolio will likely attract up to a dozen bidders, industry experts say. Recently, Deutsche Bank has indicated it is considering strategic dispositions of certain of its holdings in order to fulfill the European Union’s new banking regulations. View article…
2 Credit Unions Liquidated Two credit unions were closed last week by state and federal banking regulators. These failures bring the year’s tally to 111 failed institutions. View article…
HOUSING:
Foreclosure Crisis Isn’t Even Halfway Over: Study The foreclosure crisis has had a long and destructive run – five years and counting, and more than 3 million families have lost their homes. According to the Center for Responsible Lending (CRL), we’re not even halfway through the devastation. The organization’s analysis of 27 million mortgage loans originated over a five-year period found that 6.4 percent of mortgages made between 2004 and 2008 have ended in foreclosure, and an additional 8.3 percent are at immediate, serious risk. View article…
Analysts: Market Recovery On the Horizon But Will Vary by Location With about 800,000 REOs and about 1 million properties in some stage of default, according to Rick Sharga, EVP of Carrington Mortgage Holdings, it is difficult to see the light at the end of the tunnel. However, that is just what a group of four analysts – including Sharga – tried to do at a panel Monday at the Five Star MPact Mortgage Banking Conference and Expo. 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.