Here are the news articles you might find interesting today for commercial real estate and business:
Local Buyer Finds Cash Flow With 54,000-SF Distressed Asset Buy LaGrange Plaza LLC acquired the 54,136-square-foot Higley Marketplace from First International Bank & Trust in an REO transaction. The Paradise Valley, AZ buyer paid $5.1 million for the 82% leased center in this commercial real estate deal. The retail property at 1652-1686 N. Higley Rd. is just south of U.S. 60 and its tenant roster includes Fitness Works Gym, Kid 2 Kid, Four Seasons Sushi, Desert Babes Sports Grill, Pout & Pink and Ultimate Tan. View article…
Cassidy Turley Completes Sale of Industrial Warehouse in Scottsdale Cassidy Turley BRE Commercial announced the completed the sale of 15,570-square-foot industrial warehouse at 15270 N. 83rd Place. NAKD Holdings, LLC purchased the property for $1.3 million. Built in 1997, the single-tenant property includes 5,502 square feet of office space, including 2,982 square feet of upstairs mezzanine. The property was lender owned at the time of sale. View article…
Pathfinder Partners Closes on Two Distressed Apartment Communities Coming on the heels of two Denver-area acquisitions, Pathfinder Partners LLC, a San Diego-based firm focused on distressed real estate assets and defaulted loans, has closed on two multifamily transactions in the Seattle and Phoenix markets. The acquisitions were completed last month from national banks, and included a $9.5 million senior note purchase secured by the 29-unit Chelsea Courte II in Kirkland, WA and the 21-unit Shorewood Apartments in Phoenix, AZ purchased from a receiver for almost $900,000. View article…
Mesa light rail may get $20 million from feds President Barack Obama is proposing an additional $20 million for construction of Mesa’s light rail extension. U.S. Transportation Secretary Ray LaHood announced today that the request is part of Obama’s budget and reflects his job-creation agenda. “Throughout Arizona, there is work to be done on projects like these,” LaHood said in a prepared statement. View article…
2011 marks record low for startups The rate of unemployed people starting their own companies fell to an all-time low of 3.3 percent in 2011, according to new survey results from outplacement consultancy Challenger, Gray & Christmas, Inc. The rate hit an all-time low of 2.5 percent in the second quarter of the year. It rose slightly to 3.7 percent in the third quarter, but fell again to 2.7 percent in the final quarter. View article…
Foreclosure Sales Up for West Coast States Except Washington Foreclosure sales on the West Coast started strong for the beginning of 2012, with Washington as the exception, according to Foreclosure Radar. Arizona, California, Nevada, and Oregon are the other states included in the report – all of which saw increases in foreclosure sales to investors. Trustee sale investors pay the full amount in cash without inspections or title insurance prior to purchase. View article…
SAMPLE OPPORTUNITIES:
Bella Vista Retail Center – (BACK ON MARKET) Investment, multi-tenant retail center. For a brochure, click here…
5051 & 5057 E Thomas Road – Former Dentist Office and Former Real Estate Office For Sale. For a brochure, click here…
Kokopelli Springs in St. David, AZ – Investment, 56 unit mobile home park. 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…
Feel free to contact me regarding any of these stories, the current market, distressed commercial real estate opportunities or your property.
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