Here are the news articles you might find interesting today for commercial real estate and business:
ICSC Southwest Idea Exchange 2012 Recap The Southwest Idea Exchange has always been the official kickoff to the Phoenix Retail Market leasing activity. We are past the holidays, the bowl games, car auctions, the Phoenix Open and Super Bowl. It is really the turning point when everyone in the industry finally comes back to office to finish the projects that have lingered over the previous 60 days or so. View article…
MISSOURI-BASED FIRM TO DEVELOP 257 APARTMENTS IN PHOENIX HCW LLC in Branson, Mo. (Rick Huffman, Sam Cantanese, managers) plans to develop a 257-unit apartment project on a 9.2-acre parcel located just south of Union Hills Drive at the northeast corner of Interstate 17 and Villa Rita Drive in Phoenix. The buyer has agreed to acquire that property in a $2.8 million deal scheduled to close March 8. View article…
$250 MILLION PROJECT AT 44TH STREET & CAMELBACK IN JEOPARDY DUE TO TRUSTEE’s SALE A $250 million mixed-use project with a European village theme that was planned for development near the southwest corner of 44th Street and Camelback Road in Phoenix is in jeopardy due to a trustee’s sale that has been filed because of a loan that is in default that is secured by the property. In December 2006, BREW reported Grace Communities in Scottsdale (Don Zeleznak, Ryan Zeleznak, Jonathon Vento, principals) planning to develop the high-end project, which was supposed to include restaurants, retail shops, upscale residences, office space and a boutique hotel. View article…
U.S. Postal Service to close 3 AZ locations, 223 nationwide The U.S. Postal Service has largely completed a five-month study into closing mail processing facilities and has identified 223 sites for potential closure. Three of those are in Arizona. Plants in Phoenix, Gilbert and Tucson have been selected for consolidation. View article…
Paradise Valley residents get first glimpse of resort plan Paradise Valley residents are getting their first glimpse of plans for the renovation of the shuttered Mountain Shadows resort. Specifics are still minimal, but officials with JDM Partners LLC expect more information to be available when their special-use permit is submitted in the next week. View article…
Nogales has the youngest population, Prescott the oldest in Arizona Arizona cities run the gamut when it comes to the average age of their population. In fact, Arizona cities rank both in the top 30 and bottom 30 for average age. According to new research from On Numbers, Nogales is ranked 25th in the nation for its percentage of residence younger than 19, at 34 percent. View article…
Prices Moving Up & Foreclosures Going Down In Phoenix-area Housing Market Several pieces of good news are trickling into the hard-hit Phoenix-area housing market. A new report from the W. P. Carey School of Business at Arizona State University shows positive trends for struggling homeowners, as of January:
Single-family home prices are moving higher.
Fewer foreclosures are coming into the pipeline.
The glut of underpriced homes on the market has ended, with a more balanced market now for houses under $300,000. 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…
2 Acres of Land – (NEW LISTING) Owner/User opportunity to purchase 2 acres of land off of I-10 & 40th Street. 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.