Here are the news articles you might find interesting today for commercial real estate and business:
Market Trend: Phoenix’s Industrial Vacancy Decreases to 13.5% The Phoenix Industrial market ended the fourth quarter 2011 with a vacancy rate of 13.5%. The vacancy rate was down over the previous quarter, with net absorption totaling positive 3,204,158 square feet in the fourth quarter. Vacant sublease space decreased in the quarter, ending the quarter at 1,360,100 square feet. View article…
Plaza Lofts at Kierland pull in $7.8M in sales this year Last week I had a story in the print edition of the Phoenix Business Journal about the improved sales in the luxury condo market. Among the properties that were referred to in the article were the Plaza Lofts at Kierland Commons in Scottsdale. I hadn’t spoken to them directly, so they sent over some statistics this week. In the past month, they’ve sold six lofts for a collective $7.8 million. View article…
Senior housing options expand in Scottsdale Senior housing continues to be an active part of the Scottsdale real estate market with the opening this week of an assisted-living center and another senior resort coming this summer. Belmont Village Scottsdale is a three-story, 100,000-square-foot senior-housing community with 136 units southeast of 100th Street and Frank Lloyd Wright Boulevard. Its first residents moved in this week and a grand opening is set for Saturday. View article…
Chandler restaurant closes, ending controversy A west Chandler bar and restaurant that became the city’s poster child for neighborhood noise conflicts has closed. The Regal Beagle on the southwestern corner of Kyrene Road and Chandler Boulevard was the subject of neighborhood noise complaints for three years when the City Council voted in June to renew its liquor permit on the condition that outdoor performances are prohibited. View article…
Phoenix may rezone state parcel Phoenix is considering rezoning a state-owned parcel in preparation for development that is half a year away at the soonest. The 33.6 acres are on the southwestern corner of Princess Drive and Scottsdale Road. The property is south of Loop 101 and the car dealerships that line Scottsdale Road in that area. The land is bordered by the Central Arizona Project Canal on the south side. View article…
Court hears Elevation Chandler case Lawyers feuding over who owns Elevation Chandler argued their cases Wednesday before the Arizona Supreme Court. The five justices puzzled over the three trustee sales that were held for the 10.5-acre property, which contains an abandoned hotel-construction site near the intersection of Loops 101 and 202. Lawyers say the case has a bearing on all commercial real-estate deals in Arizona. View article…
New Loop 202 Alternatives Proposed A developer who is a member of the Gila River Indian Community is proposing two similar alternatives to building the proposed Loop 202 South Mountain Freeway through Ahwatukee. Keeping the road off of the reservation would take out 100 or more homes along with other buildings, and would cut through South Mountain. Joseph Perez of PANGEA Development says while the referendum rejected in early February by residents of the Gila River Indian Community (GRIC) would have allowed construction of the freeway on public land owned by the tribe, one of the new proposals would instead route the road across privately-owned land – known as “allotted land” – that the tribe would have no say over. 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.