Here are the news articles you might find interesting today for commercial real estate and business:
VESTAR ENTITY SELLS CROSSROADS TOWNE CENTER GILBERT PHASE 2 Vestar CTC-Gilbert Phase 2 LLC, which was formed by Vestar Development Co., has sold a 147,208-square-foot retail plaza known as Crossroads Towne Center Gilbert Phase 2 to Mark IV Capital Properties for $19.1 million. Vestar originally developed the plaza in 2007. Notable tenants include Hobby Lobby, T.J. Maxx and Mega Furniture. View article…
Trampoline park opens in Arcadia A new indoor trampoline park has opened in the Arcadia neighborhood of Phoenix. Sky Park Indoor Trampoline Park on Friday had its soft opening, unveiling 15,000 square feet of trampolines at the 26,000-square-foot space, former home of Bally’s Total Fitness. The park includes two trampoline dodgeball courts, a trampoline volleyball and basketball court, and a 5,000-square-foot main jump arena, sunk 6 feet below ground. View article…
Logicalis Group expands with new Tempe office Logicalis Group Inc., an information technology and communications company, has opened a new office in Tempe, its second expansion in the past month and the company’s fifth in the past year. The new facility is designed to house 60 incoming Logicalis employees, with “significant room” for new hires, according to the company. The amount of new positions looking to be filled, however, is unknown at this time. View article…
USDA to close hundreds of offices, 4 in Arizona U.S. Department of Agriculture Secretary Tom Vilsack has released a plan to close hundreds of USDA installations, which he hopes will streamline the department’s operations. Under the plan, known as the Blueprint for Stronger Service and released Monday, the department will close 259 domestic offices, facilities and labs, and seven foreign offices. View article…
Trouble Is Brewing for Office Market Penn Mutual Towers, an office complex across the street from Independence Hall in Philadelphia, has seen its vacancy rise and income fall after one big tenant left and another renewed its lease for 15% less than it had been paying. Its creditors are foreclosing on the property, according to data company Trepp LLC. Similar problems are mushrooming in office markets throughout the country, foreshadowing a new wave of real-estate trouble. View article…
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Bella Vista Retail Center – 10.5% Cap Rate! 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.