Here are the news articles you might find interesting today for commercial real estate and business:
To view this weeks Costar Watchlist, click here.
High-End Multifamily Property Fetches $45M -Partners Mark-Taylor and Principal Real Estate Investors sold the 308-unit San Portella Apartments, collecting $45.1 million in the process. The sellers, operating under the name Apartments at Fountainhead LLC of Des Moines, IA, sorted through approximately eight offers received for the class A multifamily property, ultimately selecting Seattle company Private Portfolio Group LLC as its buyer. View article…
Alliance Commercial Buys 2 Industrial Bldgs for $2.6M Alliance Commercial Partners LLC purchased the two industrial facilities at 1025 and 1033 N. 71st Ave. in Phoenix, AZ from JP Morgan Chase for $2.6 million, or about $27 per square foot. The two buildings in 71 Roosevelt Park were constructed in 2007 in the Tolleson Industrial submarket. Each building is 49,000 square feet and together occupy approximately 5.5 acres. View article…
Peoria Crossroads bookstore moving, adding to fare Crossroads of Life Christian Books and Gifts, a family owned bookstore in Peoria, will move into a new building at the end of the month, unveiling the addition of a coffee shop, a new name, and a possible venue for live music. The bookstore, soon to be known as Crossroads Books and Coffee, will move from its current location, near 67th and Peoria avenues, to 91st and Olive avenues. View article…
Gila River tribe appears to reject South Mountain Freeway In a vote Tuesday, the Gila River Indian Community appears to have killed any chance of relocating the controversial South Mountain Freeway onto tribal land. In early, unofficial returns, the tribe cast 720 votes for no freeway, 603 to build it on tribal land and 158 to keep to the existing route along Pecos Road through Ahwatukee. View article…
Phoenix fourth in Sunbelt job growth The past several years have not been kind to the job market in Phoenix, but the city still posted strong gains over the past decade. Among Sunbelt cities (those south of the 37th parallel), Phoenix ranked fourth in the number of jobs created between 2001 and 2011. The city added 81,300 jobs, according to new research from On Numbers. View article…
Foreclosure inventory in Phoenix declining Foreclosure inventory in the Phoenix metro area is down compared with a year ago, according to data released Wednesday by CoreLogic. In the Valley the foreclosure inventory in December 2011 was down 2.1 percent as compared with a year earlier. 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.