Here are the news stories you might find interesting today regarding commercial real estate and business:
To view this week’s, “The Watchlist,” by Costar, click here.
Maricopa County backs out of buildings deal Maricopa County on Wednesday backed out of plans to buy two buildings and parking at the Grace Court project. County officials were preparing to spend about $20.5 million for two buildings and the rights to 377 parking spaces at the 300,000-square-foot office complex near Seventh Avenue and Adams Street. View article…
Sarver’s SVP closing in on $200M real estate fund Southwest Value Partners, a real estate investment firm co-founded by Phoenix Suns owner Robert Sarver, is in the final stages of closing a $150 to $200 million fund that may target high-growth areas of the Valley. View article…
Paradise Valley relocates ambulance services into town limits Paradise Valley Town Council approved a lease with the town’s ambulance transportation provider, moving the facilities from Scottsdale into town limits. Professional Medical Transport, Inc. moved to a town-owned building, 6517 E. Lincoln Drive, close to the town’s public safety building. View article…
Mexican investment in U.S. companies soaring A new kind of Mexican immigrant is making it big in the United States: huge Mexican corporations that are snapping up U.S. brand names, opening U.S. factories and investing millions of pesos north of the border. View article…
ASU: Home values likely to remain flat New research on the Phoenix housing market from Arizona State University shows home prices are likely to remain stable for an extended period of time. View article…
Phoenix rental market showing signs of rebound Commercial-property owners are counting on apartment buildings to lead the Phoenix area’s real-estate market toward recovery, based on a recent rebound for units rented and buildings sold. View article…
Glendale Banner Thunderbird Medical Center expansion augurs well for future The work never stops at Banner Thunderbird Medical Center, even in the middle of construction. View article…
Report: Commercial Real Estate Prices Could Require a Decade to Rebound Even though commercial real estate sales are picking up for trophy properties in cities like Washington, D.C. and New York, a sobering new report by global investment management firm PIMCO cautions that investors should be wary as they enter the recovering market. National price indexes are misleading when transactions are limited, the report says, and the prices fail to reflect uncertainty about property valuations. 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.