Here are the news articles you might find interesting today for commercial real estate and business:
To view the November 2011 edition of Multifamily Executive, click here.
Foothills Sports Medicine expanding with new locations Ahwatukee-based Foothills Sports Medicine is continuing on an expansion path by opening two facilities in the next two months. In December, it will open a small physical therapy facility within the Jewish Community Center in Scottsdale. In January, it will open its 14th site at the It’s All in the Game sports center near the Peoria Sports Complex to coincide with the grand opening of that 40,000-square-foot project. View article…
H&M opening soon at Arizona Mills mall in Tempe Value-focused fashion retailer H&M will soon open a new store at Arizona Mills mall in Tempe. The store is slated to open at noon on Dec. 6 at the mall, 5000 S. Arizona Mills Circle. It will offer clothing and accessories for men and women at moderate price points. Next year, the store will add a children’s collection for infants through age 14, officials said. View article…
Dick’s Sporting Goods plans $40M distribution center in Goodyear Dick’s Sporting Goods will break ground next week on a $40 million, 600,000-square-foot warehouse in Goodyear. The distribution center will be built in the PV303 business park and initially employ 120 people when it opens in January 2013. “We’re in town and meeting with the architect right now,” said George Giacobbe, vice president of distribution and strategy for Pittsburgh-based Dick’s. View article…
HOUSING:
Study Finds Fewer Borrowers Sinking in Negative Equity The depreciation of home values over the past half-decade has left millions of mortgage borrowers owing more than their home is worth – 10.7 million, according to CoreLogic. The company released its third-quarter update on negative equity within the U.S. housing market Tuesday. It shows that 22.1 percent of all residential properties with a mortgage were underwater as of the end of September. View article…
Nearly half of Arizona homes have negative equity Close to half of all homes with mortgages in Arizona were upside down in the third quarter, CoreLogic reported Tuesday. In Arizona, 47.1 percent, or 617,876 residential properties with a mortgage had negative equity in the third quarter, according to CoreLogic. This compares with a slightly higher 49 percent rate in the second quarter. Nevada, at 58.3 percent, was the only state with a higher negative equity rate than Arizona. View article…
Case-Shiller Puts Home Prices 3.9% Below Last Year The national reading of Standard & Poor’s closely watched Case-Shiller index registered a 3.9 percent decline during the third quarter of this year when compared to the same period in 2010. That represents an improvement over the 5.8 percent decline posted in the second quarter, but S&P described home prices as weakening as the third quarter came to an end. 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.