Here are the news articles you might find interesting today for commercial real estate and business:
To view the October 2011 Affordable Housing Financing magazine, click here.
To view this weeks Costar Watchlist, click here.
Investor Acquires Two Industrial Bldgs for $13.2M BC5 Buckeye LLC and BC5 44 LLC, related entities based in San Diego, CA, purchased two industrial properties in Phoenix, AZ for $13.225 million, or approximately $54 per square foot. 5502 W. Buckeye Road, a 103,400-square-foot property that was built in 2000 in the SW N of Buckeye Road Industrial submarket, is 100 percent leased to Western Paper Distributors, Inc. and A-Z Industries. 4524 N. 44th Ave., a 140,895-square-foot building that delivered in 2007 in the Grand Avenue Industrial submarket, is 100 percent leased to Consolidated Steel, Inc. View article…
Maxwell Technologies creating $26M facility in Peoria Maxwell Technologies Inc. is planning to open a $26 million high-tech manufacturing facility in Peoria, bringing with it more than 150 jobs. The San Diego-based Maxwell (Nasdaq: MXWL) and city announced the facility Wednesday and officials said it likely will open by the end of next year. It will develop and manufacture parts for the company’s ultracapacitors, small energy storage devices used in numerous industries from renewable energy to transportation. View article…
STORE Capital and O’Charley’s Sign $105 Million Sale-Leaseback Agreement STORE Capital has added to its growing investment collection through a $105 million sale-leaseback deal with O’Charley’s Inc. of Nashville, TN. Under the agreement, the locally based STORE Capital acquired 50 O’Charley’s restaurants and leased them back to O’Charley’s through long-term, triple-net leases. O’Charley’s is a restaurant company that franchises and operates a total of 342 restaurants under the brand names of O’Charley’s, Ninety Nine Restaurants and Stoney River Legendary Steaks. View article…
Four Peaks Brewing opening new $3M brewery in Tempe Four Peaks Brewing Co. will open a second brewery in Tempe near Broadway Road and Hardy Drive. The Tempe-based specialty beer maker has been looking for a second brewery to accommodate its growth and compliment its current brewery at 8th Street and Dorsey Lane. That existing brewery is near its capacity under state regulations that limit individual facilities to producing 40,000 barrels of beer per year. View article…
Ahwatukee couple open pet resort in new home When Tammy Teeter moved to Arizona four years ago, she left behind the dog-boarding kennel she opened and ran for 12 years. She didn’t leave behind her passion for training animals, though. For the past three years Teeter and her husband, Howard Teeter, have run a mobile training business that has served more than 700 customers. View article…
Watson Road a booming business corridor in Buckeye Buckeye town officials have high hopes for the area on Watson Road south of Interstate 10. A half dozen years ago, they say, motorists exiting I-10 there found mostly open desert. Despite the economic downturn, that stretch of Watson Road has blossomed into a thriving business corridor for Buckeye, they say. View article…
NAIOP: Economic Tug-of-War Leaves Outlook Uncertain More than 900 industry professionals gathered at the Fairmont Princess here yesterday for the opening day of “Development ’11,” NAIOP’s annual meeting for commercial real estate. After NAIOP president and CEO Thomas J. Bisacquino welcomed attendees to the three-day event, he handed the podium over to Scottsdale mayor Jim Lane, who gave the opening remarks. “Scottsdale is open for business,” Lane proclaimed. View article…
Good and bad news for Arizona in latest economic forecast There’s good news and bad news for state government in an economic forecast presented to lawmakers Tuesday. The good news: Economists project multimillion-dollar budget surpluses for this budget year and possibly next. The bad news: Deficits loom, with fiscal year 2014 projected to be in the red anywhere from $610 million to $1.2 billion.That could amount to 7 to 15 percent of the overall budget. View article…
Local retailers in Phoenix losing ground to chains A new study from American Express shows that local retailers in the Phoenix area are losing ground to larger chains. The American Express Open Independent Retail index analyzed the vitality of independent retailers in 15 major U.S. cities. It showed that Phoenix ranked last in shopping, 14th for eating and drinking and last for the two categories combined. View article…
CoreLogic: Good and bad in Phoenix, U.S. housing markets CoreLogic released its U.S. Housing and Mortgage Trends report today with an interesting mix of national and local information. Nationally, the report documents that real median income in the U.S. has dropped more than 7 percent since its peak in 1999. As such, consumers are having to allocate a larger percentage of their income for housing. That leaves less money available for other types of purchases. View article…
SAMPLE OPPORTUNITIES:
Bella Vista Retail Center – Investment, multi-tenant retail center. For a brochure, click here…
5051 E Thomas Road – Former Dentist Office For Sale/Lease (Price Just Reduced) For a brochure, click here…
7320 N Dreamy Draw – Freestanding Office Building in Squaw Peak Corridor (New to market) For a brochure, click here…
COMMUNITY:
I’m Participating in MDA Lock-Up! Please Help! A “friend” signed me up! Now, I need your help! The goal is $2,400! Please help me achieve my goal before November 9, 2011! Click here to donate! Thank you!
Feel free to contact me regarding any of these stories, the current market, distressed commercial real estate opportunities or your property.