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Scottsdale Office Trades for $2.8M MacLeod Investments 1, LLC purchased Building B of Raintree Crossing, a 37,462-square-foot office condo building in Scottsdale, AZ, for $2.825 million, or approximately $75 per square foot. The property was 21% occupied at the time of the REO sale and the buyer will reportedly attempt to sell the condo units individually or lease up the space. View article…
Self-storage lot in Surprise core raises concerns Surprise leaders have long aspired to make the area surrounding City Hall a civic and cultural hub. In place of empty, brush-covered lots, they envision mixed-use development with offices, condos, boutique retail and nightlife. View article…
HPN Global expands, buys new building at Airpark A company that arranges corporate meetings has expanded to a larger building in the Scottsdale Airpark. Hospitality Performance Network Global purchased the building to expand its corporate headquarters after obtaining a $1.8 million loan that went toward the $2 million acquisition price. View article…
Glimcher Obtains $70M Loan for Mixed-Use Development Glimcher Realty Trust has obtained a $70 million permanent loan from German American Capital Corp. to finance a land acquisition associated with its Scottsdale Quarter mixed-use project. View article…
Talbots closing up to 100 stores Women’s clothing and accessories company Talbots Inc. will close 75 to 100 stores by 2013. The move is part of Talbots’ turnaround plan initiated in 2007. View article…
Banner Ironwood hospital to open Nov. 1 Banner Ironwood Medical Center is scheduled to open Nov. 1 to serve the San Tan Valley and Queen Creek communities. View article…
Scottsdale Real Estate Receivership Company Expands to Dallas Resolute Commercial Services, a Scottsdale, Arizona-based real estate receivership company, has expanded east with the launch of its new Dallas location. View article…
ASU: Housing, commercial real estate prices slip again Reports released Wednesday by Arizona State University show both residential and commercial real estate prices are declining again in the Phoenix area. View article…
Green Street: Commercial Property Values Up 30% Over 2009 It wasn’t more than two years ago that commercial real estate began a brutal downhill slide with no apparent end in sight, as investors and developers braced for an avalanche of mortgage defaults and foreclosures. View article…
UPS to add 50,000 workers over holidays United Parcel Service Inc. plans to add about 50,000 jobs during the holidays this year. View article…
Kohl’s beefs up holiday hiring Kohl’s Department Stores plans to hire 40,000 workers for the holidays across the U.S., a 21 percent increase over 2009. View article…
Resurgent CMBS Market Is No Cure-All for Troubled Borrowers A projected threefold increase in securitized lending next year would boost spirits among prospective borrowers but do little to help the majority of commercial real estate investors obtain financing, experts say. 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.