Here are the news articles you might find interesting today for commercial real estate and business:
To view the August 2012 Commercial Property Executive magazine, click here…
To view the 3Q12 National Retail Outlook by Marcus & Millichap, click here…
ASU SkySong to get $44 million apartment complex SkySong will be getting a residential component as the Plaza Cos., USAA Real Estate Co. and Arizona State University embark on a $44 million project in August. The project, known as the ASU Scottsdale Innovation Center, includes about 325 residential units that will be open by October 2013, officials said. View article…
Downtown Chandler running out of retail, office space At a time when empty storefronts are distressingly common at shopping centers, Chandler could almost post a neon “no vacancy” sign at the entrance to its downtown. The downtown retail vacancy rate has plummeted to just 0.9 percent as demand for space in the area continues to grow. View article…
Renowned deli founder opening Scottsdale shop The Valley can never have too many good delicatessens, so add another one to the list. Abe’s of Scottsdale Deli is coming in September to the Acacia Creek Village shopping center at Scottsdale Road and Gold Dust Avenue. View article…
World of Beer on tap for Mill Avenue in Tempe If there’s any business befitting a college town, it’s one that’s dedicated to beer. World of Beer, a pub franchise out of Tampa, Fla., opens its first Western location on Mill Avenue next Wednesday and will feature 500 beers by the bottle and 58 on tap. It takes over the century-old Tempe National Bank, a 3,200-square-foot building previously occupied by American Apparel. ASU alumnus Ben Novello is CEO of the World of Beer franchise. View article…
Fox Restaurant Concepts moving offices A popular Valley-based restaurateur is moving its headquarters from Scottsdale to the Arcadia neighborhood of Phoenix on Friday. Fox Restaurant Concepts will make its new home at 4455 E. Camelback Road, in an office complex called The Park, which houses five buildings sitting on about 7 acres in Arcadia. View article…
‘Top Chef’ finalist Brian Malarkey to open Searsucker in Scottsdale Searsucker, a restaurant off the sunny coast of San Diego featuring “Top Chef” finalist Brian Malarkey, is opening a second location in Scottsdale. Seeing the original location thrive since its opening just two years ago, managing partners Malarkey and James Brennan said it’s time for their concept to expand, and realized the Arizona desert was the most obvious choice for its second location. View article…
Behind the scenes of University of Arizona’s new Health Sciences building in Phoenix The $135 million Health Sciences Education Building on the downtown Phoenix Biomedical Campus is officially open, with construction workers putting the finishing touches on the 265,000-square-foot structure. View article…
Troubled Thunderbird Plaza has new owners, rebranding plan Thunderbird Plaza has fallen far from its glory days as a vibrant and critical commercial gateway into the West Valley’s Sun City, but now under new ownership by a local group of health care physician investors, the blighted shopping center is in store for a serious makeover, medical building additions and rebranding. View article…
City of Maricopa receives grant to launch business incubator The city of Maricopa recently received a $50,000 Rural Business Enterprise Grant through the U.S. Department of Agriculture Rural Development to launch a business incubator. The Maricopa Center for Entrepreneurship will support local small business growth in the community southwest of Phoenix. View article…
HOUSING:
Case-Shiller Jumps a Record 2.2% in May Home prices rose sharply in May, cutting the year-year drop in prices to 0.7 percent from 1.8 percent in April, Standard reported Tuesday in its Case-Shiller Home Price Index. Prices in the 20 cities surveyed rose 2.2 percent month-month. View article…
CoreLogic: Phoenix foreclosure rate continues decline While recent improvements in foreclosure activity nationwide seem to be tapering off, the latest CoreLogic housing report released Tuesday shows Phoenix posted the second largest year-over-year decline in foreclosure inventory during the second quarter. View article…
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CURRENT FOR SALE OPPORTUNITIES:
Bella Vista Retail Center (SOLD) Investment, multi-tenant retail center. For a brochure, click here…
Former SunTykes Property in Tempe Arizona – Owner/User Opportunity. For more information, click here…
Freestanding Auto in Mesa, Arizona – Owner/User Opportunity. For more information, click here…
+/- 43,000 SF Leased Industrial Building in Southern Gardens – Single Tenant Investment opportunity. For more information, click here…
1 Industrial Condos in Bahia Business Park (UNIT 104-SOLD – 105 Still available) Owner/User opportunity to purchase 1 industrial condos. For more information, click here…
Former TDC Corp HQ – 6515 S Rural Road, Tempe, AZ (SOLD) – Former Corporate HQ for TDC in Tempe, AZ For Sale. For more information, 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.