nick@nickminer.com  480-612-0384

Daily News for Commercial Real Estate & Business – April 30, 2012

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

DEPOT MARKETPLACE SELLS FOR $11.2M Depot Marketplace, a 91,461-square-foot, grocery-anchored shopping center, has sold to Depot Marketplace Investors LLC for $11.2 million. The property was redeveloped in 1991 and currently boasts a 92 percent occupancy rate. View article…

Phoenix office center sells for $2.95M The same commercial real estate group that recently bought a foreclosed Tempe office complex has also acquired a 110,000-square-foot foreclosed office complex off Interstate 10 and Baseline Road in Phoenix. The Clocktower Corporate Center was sold by Marketview Properties LLC to Clocktower Corporate Centre LP for $2.95 million. View article…

Phoenix apartments sell for $1.25 million A Phoenix apartment complex has been sold for $1.25 million. Turney Properties LLC of Phoenix has acquired the Homeside Acres Apartments. The 29-unit complex is located at 2019 E. and 2025 E. Turney Avenue in Phoenix near Campbell Ave. and 20th Street. View article…

Galaxy International Inc. expands to Phoenix Goodyear Airport An aircraft-maintenance company that began in a Goodyear home more than a decade ago will soon move into a large, long-vacant hangar at Phoenix Goodyear Airport. Galaxy International Inc. is a federally certified repair station that specializes in fixing, overhauling and testing parts on gas-powered turbine engines. View article…

Alice Cooper foundation, Genesis Church partner for venture The Rock at 32nd Street has opened for religious services, with teen outreach to follow soon. Genesis Church, one of the partners in the endeavor, conducted its first services on Easter in a large multipurpose room at the center, on the southeastern corner of Thunderbird Road and 32nd Street. The Solid Rock Foundation, founded in 1995 by rock star Alice Cooper and others, is the other partner. View article…

Elevated trail cost estimate for McDowell Road corridor: $75.3M The cost to build an elevated trail that would span much of south Scottsdale’s McDowell Road corridor has been estimated at $75.3 million, and construction could take two years. More details are emerging on Jason Rose and Douglas Sydnor’s “big idea” to jump-start economic revitalization of the corridor. Haydon Building Corp. provided both the cost estimate and construction timeline of the trail that would run above the center of the road. View article…

Consumer Spending Slows Sharply in March; Savings Rate Edges Up Consumer spending grew just 0.3 percent in March, down from the 0.9 percent growth in February, the Bureau of Economic Analysis reported Monday. Economists had expected spending to be up 0.4 percent. At the same time, personal income grew 0.4 percent in March, BEA said, slightly faster than February’s 0.3 percent growth and consensus expectation of 0.3 percent. View article…

Regulators Shut Down Five Banks Friday, Raising 2012 Tally to 22 After what seemed to be a slow month for bank closings, with just one closing April 20 for the entire month, the FDIC announced five bank closings Friday, raising the national tally of failed banks to 22 so far this year. View article…

Homeownership Rate Falls to 15-Year Low The nation’s homeownership rate (seasonally adjusted) dropped to 65.5 percent in the first quarter, its lowest level since the first quarter of 1997, the Census Bureau reported Monday. 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 – (PRICE REDUCED-$295,000 for both buildings!) 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.