Here are the news stories you might find interesting today regarding commercial real estate and business:
Healthcare Trust continues buying spree with $107M Sun City deal
Healthcare Trust of America, a real estate investment trust based in Scottsdale, continues its aggressive acquisition of medical properties with the recent purchase of a $107 million portfolio of 17 medical offices located in Sun City and Sun City West.
Food Source International renews, expands Phoenix lease
Food Source International is expanding its presence in Tempe. The food distribution company renewed its 53,600-square-foot lease at Roosevelt Commons and added 20,200 square feet to the contract. The length and value of the lease were not disclosed.
Arizona moves forward with building leasebacks
Arizona Department of Administration officials said Thursday they are moving forward with plans to sell buildings including the state Capitol and prisons to private landlords who would lease the space back.
Social Security Administration to occupy Phoenix offices
| The U.S. General Services Administration has leased 16,623 square feet of office space at 18444 N. 25th Ave. in Phoenix. |
$18 million science building opens at Chandler-Gilbert Community College
By the time classes begin Saturday, students at Chandler-Gilbert Community College will hardly see the last-minute scramble to open its first major building in 11 years.
Chicanos Por La Causa receives $137 Million to stabilize communities
Phoenix based Chicanos Por La Causa Inc. announced Thursday that it will distribute $137 million in federal funding to stabilize and revitalize neighborhoods that have been negatively impacted by foreclosures.
Amonix announces solar facility, 167 jobs for Arizona
Amonix Inc. has announced it will build two solar manufacturing plants, one in Arizona and one in Nevada.
Bank of America’s Secret of Success: Real-Estate Banking
Bank of America Corp.’s shotgun marriage to Merrill Lynch & Co. has produced plenty of ill will, and big profits in real-estate investment banking.
As Buildings Empty, Banks’ Credit Woes Pile Up
Commercial real-estate problems may be about to douse the recent rally enjoyed by regional banks.
Feel free to contact me regarding any of these stories, the current market, distressed commercial real estate opportunities or your property.