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Daily News for Commercial Real Estate & Business – April 17, 2012

Here are the news articles you might find interesting today for commercial real estate and business:

Phoenix and Tempe expected to lead commercial real estate rebound There are continued indications that when the commercial real estate market awakens from its recession-induced slumber that downtown Phoenix and Tempe’s Mill Avenue will sound the wake-up call. A first quarter analysis of the Phoenix-area office market by Lee & Associates Commercial Real Estate Service shows the Valley’s office vacancy rates at 27 percent. View article…

Proposed casino near Glendale heads to court Legal challenges have volleyed back and forth since a southern Arizona tribe unveiled plans for a West Valley casino three years ago, but a key case in the fight will move forward today in the 9th U.S. Circuit Court of Appeals. The Gila River Indian Community, which currently operates the only West Valley casino, Glendale and top state lawmakers are appealing a federal decision to take the Tohono O’odham-owned land into the reservation system. View article…

Good times to flower at Tempe’s iconic Hayden Flour Mill Soon the iconic Hayden Flour Mill will transition from a fenced-off, boarded-up relic to a public gathering space where Tempe’s history is honored. Downtown Tempe business owners are looking forward to the new space bringing more people to Mill Avenue. Residents are excited about the buzz of regular entertainment downtown. View article…

Ten industries that are dying in America Unemployment is declining and GDP is growing, but the recovery varies wildly from one industry to the next, and is entirely absent from some industries. IBISWorld, a market-research group, identified 10 “dying industries” based on performance from 2002 to 2011. IBISWorld looked at each industry’s total annual revenue, the number of companies in the industry in each year, and other metrics. View article…

April 2012 Commercial Repeat Sales Analysis Now Available CoStar Group released the latest findings of the CoStar Commercial Repeat-Sale Indices (CCRSI) last week, providing the market’s first look at commercial real estate pricing trends based on property sales that closed through February 2012, and offering the broadest measure of commercial real estate repeat sales activity. View article…

East Valley sees more short sales, foreclosures during March Phoenix’s outer suburbs continued to be challenged with distressed mortgages including short sales and foreclosures, and that distress is migrating to the East Valley. A new report by the Arizona Regional Multiple Listing Service Inc. shows short sales and foreclosures in March were more concentrated in the East Valley. View article…

CURRENT FOR SALE OPPORTUNITIES:
Bella Vista Retail Center – Investment, multi-tenant retail center. For a brochure, click here…

+/- 43,000 SF Leased Industrial Building in Southern Gardens – Single Tenant Investment opportunity. For more information, click here…

2 Industrial Condos in Bahia Business Park – Owner/User opportunity to purchase 1 or both industrial condos. For more information, click here…

Former TDC Corp HQ – 6515 S Rural Road, Tempe, AZ – Former Corporate HQ for TDC in Tempe, AZ For Sale. For more information, click here…

5051 & 5057 E Thomas Road – Former Dentist Office and Former Real Estate Office For Sale/Lease. For a brochure, click here…

7320 N Dreamy Draw – Freestanding Office Building in Squaw Peak Corridor-great owner/user opportunity. For a brochure, click here…

6677 W Thunderbird – BANK OWNED – Grey shell office condo in Glendale. For a brochure, click here…

Kokopelli Springs in St. David, AZ – Investment, 56 unit mobile home park. For a brochure, click here…

2 Acres of Land – Owner/User opportunity to purchase 2 acres of land off of I-10 & 40th Street. For a brochure, click here…

3.64 Acres of Land – BANK OWNED – Infill Development opportunity in Surprise. For a brochure, click here…

Feel free to contact me regarding any of these stories, the current market, distressed commercial real estate opportunities or your property.