Here are the news articles you might find interesting today for commercial real estate and business:
To view this weeks Costar Watch List, click here…
To view the 3Q12 Marcus & Millichap Phoenix Apartment report, click here…
To view the 3Q12 Marcus & Millichap Phoenix Office report, click here…
June Swoon: CRE Pricing Recovery Hits Soft Patch While high-end properties continued to shine, the first half of 2012 ended on something of a flat note overall for commercial real estate, with uncertainty over the direction of the economy exacting a toll on property pricing gains and weakening fundamentals. The most recent CoStar Commercial Repeat Sale Indices (CCRSI) report shows weaker investor demand across most property types in June, with pricing for higher-quality investment-grade property holding its ground but eroding for less-expensive holdings as investors returned their focus to the relative safety of the best assets in core markets. View article…
International semiconductor developer plans R&D facility in Tempe Quantenna Communications Inc., a Fremont, Calif.-based semiconductor developer with offices in Australia, China and Taiwan, is expanding to Arizona with a research-and-development facility in Tempe. Quantenna spokesman Jeremy Hyatt said this is the first expansion in the U.S. for the company, which opened in 2006. The expansion will launch with 12 engineering and management jobs. The employees were hired over the past six months and have worked out of a temporary facility, Hyatt said. View article…
Ambitious West Valley projects sidelined by recession In the West Valley, large empty fields are a stark reminder of the ambitious projects that were proposed during Arizona’s real-estate boom but were never built. The national recession that began in 2007 dealt a blow to several projects that regional leaders hoped would create jobs and generate sales-tax revenue for local cities’ coffers. The casualties included two glamorous regional malls, a jobs corridor along Loop 101 in Glendale, a Surprise master-planned community and proposed recreation hubs, such as Buckeye Town Lake and a sports-themed complex with a resort and golf course that would help pay for Glendale’s baseball stadium. View article…
ASU plans athletic-facilities district to fund stadium fixes In its quest for money to rebuild its aging sports arenas, Arizona State University is taking an unusual approach: trying to convert a large swath of its Tempe campus into a fee-generating commercial and residential development. ASU has carved out 330 acres just south of Tempe Town Lake, where it wants to create an urban, master-planned development that features world-class amateur athletic facilities surrounded by residential, office and retail space. The businesses would pay a fee in lieu of property taxes. ASU would use the money to fix up its athletic facilities, most notably Sun Devil Stadium. View article…
Top 100 social media brands in 2012 2Q The newest Restaurant Social Media Index Top 100 ranking shows smaller brands continuing to hold their ground in social media. Red Mango stayed in its No. 3 ranking from the first quarter directly behind larger brands Starbucks and Wendy’s. The top 5 restaurant brands from 2012’s first quarter – Starbucks, Wendy’s Red Mango McDonald’s and Chick-fil-A – held on to their positions in the second quarter, while some chains, like Subway, jumped into the top ten. View article…
HOUSING:
Households Climb Out of Financial Distress in Q2: CredAbility U.S. households have found their way out of financial distress for the first time in nearly four years, with housing as the main reason for the improvement, according to the CredAbility Consumer Distress Index released Wednesday. View article…
Private Equity Funds Target Foreclosed Homes As Rental Play Private equity investors have been pouring into the battered housing market in recent months as investors seize opportunities to buy distressed single-family homes and convert them to rental properties. The single-family home rental market is a segment that has, historically, been very fragmented both in its ownership and operations. The investment capital now flowing into this sector is changing that dynamic. View article…
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CURRENT FOR SALE OPPORTUNITIES:
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…
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…
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.