Here are the news articles you might find interesting today for commercial real estate and business:
Houston’s TQLA expanding in Mesa with new tequila bar and restaurant Tequila lovers will soon have a new spot to score their favorite spirit on tap. Houston-based TQLA is opening its first Arizona location in Mesa next month. TQLA Mesa is scheduled to open Sept. 17 at 11 a.m. on the northwest corner of Val Vista Drive and Baseline Road in the Dana Park Shopping Center at 1840 S. Val Vista Drive. View article…
BELL WEST RANCH SHOPS SELLS FOR $4.3M Bell West Ranch Shops, a 27,225-square-foot shopping center and freestanding, single-tenant building in Surprise, has sold to PWREO Bell & 303, LLC for $4.34 million. The strip-retail shopping center was built in 2004. It is currently 95.2 percent leased. Notable tenants include Pizza Hut and O’Reilly Auto Parts. View article…
Bridges Preschool to open on EVIT’s Mesa campus Bridges Early Childhood Education is opening a center at the East Valley Institute of Technology’s main campus, Main Street east of Dobson Road, Mesa. Bridges is a professional preschool with degreed teachers that offers a curriculum that includes cooking, gardening, sign language and Spanish. It also provides free parenting workshops for specific needs and concerns they may have about their children. View article…
Phoenix unemployment rate ticks higher in July The Phoenix area’s unemployment rate ticked higher in July, to 7.5 percent, according to data released Wednesday from the U.S. Bureau of Labor Statistics. The jobless rate was 7.4 percent in June and 9 percent in July 2011, according to the new federal figures. View article…
Economy Expanding ‘Gradually’, Real Estate Markets ‘Improving’: Fed The nation’s economy expanded “gradually” from early July through mid-August, the Federal Reserve reported Wednesday in its periodic Beige Book. The description of the economy, drawn from reports from each of the 12 Federal Reserve Districts differed from the usual tone of Beige Books which have recently described economic growth as “modest” or “moderate.” View article…
The CMBS Market Has Weathered the Summer’s Economic Storms As the summer comes to a close, CMBS players are breathing a sigh of relief. Although the industry has experienced some turbulence this year, it was lucky enough to avoid a crash like it went through last summer due to the European debt crisis and the drama surrounding the U.S. debt ceiling. The CMBS market has finally stabilized, experts say, leaving lenders, borrowers and investors quite content with current conditions. View article…
HOUSING:
Report: Homeownership at Lowest Rate in Nearly 50 Years Whether by choice or circumstance, it seems fewer and fewer people are sharing in the American dream. A report released Monday from John Burns Real Estate Consulting revealed that the “real” homeownership rate – measured as the percentage of households that own a home and are not seriously delinquent on their mortgage – has fallen to 62.1 percent, the lowest level in almost half a century. View article…
Check out the Market Reports section of my webpage! The market reports that I review on a regular basis will be archived here. I would like to know your feedback after looking at the page. Send feedback by click here…
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.