Here are the news articles you might find interesting today for commercial real estate and business:
IREM / CCIM Economic Forecast Recap – 2012 by Nick Miner, CCIM I attended the CCIM/IREM Economic Forecast here in Phoenix on Wednesday (January 18, 2012). Whenever I attend these events, I like to summarize my notes to help people know what others are saying besides my own opinions. The event was a little different format this year from previous years so let me summarize it based upon the event for you. View article…
Glendale medical space sells for $7.6 million Second City Capital Partners of Vancouver, British Columbia, has purchased Thunderbird Commons at 67th Avenue and Thunderbird Road for $7.65 million. The seller was Thunderbird Commons Holdings I LLC in Kansas. View article…
All Saints’ Episcopal Church buys four acres of Phoenix land All Saints’ Episcopal Church and Day School purchased land adjacent to its campus that had been slated as an infill residential development. The church paid $2.16 million for the 3.8 acres located at 122 W. Maryland Ave. in central Phoenix. View article…
More than 220 acres of land sold in Casa Grande Land that was part of the proposed 2,000-acre Coyote Springs master plan in Casa Grande was sold in two transactions this week. The largest deal involved nearly 189 acres of land along the south side of Jimmie Kerr Boulevard. Prominent Arizona State University athletics supporter and long-time local farmer Charles “Nap” Lawrence formed a partnership that paid $1.16 million for the property, or $6,200 per acre. It will return to farmland. View article…
Mitel Networks moving US headquarters from Chandler to Mesa Mitel Networks, the Canadian-based global communications company, is moving its U.S. headquarters from Chandler to Riverpoint Mesa in the Mesa Riverview development at 1146 N. Alma School Road. The company has signed a 10-year lease for 83,264 square feet. View article…
Aiken Schenk law firm to move Law firms have continued to move to new digs across the Valley. Now comes word that Aiken Schenk law firm has taken nearly 15,000 square feet at the Biltmore Financial Center at the northwest corner of Camelback Road and 24th Street. The lease is for eight years, and exact financial details were not disclosed. View article…
Arizona Hometown Buffet, Old Country Buffet to stay open Arizona locations for Old Country Buffet and Hometown Buffet will remain open as the restaurants’ parent company goes through Chapter 11 bankruptcy proceedings. View article…
Arizona has come a long way in 100 years, but there’s further to go Last year at this time, we at the Phoenix Business Journal started kicking around the idea of what we would do for our coverage of Arizona’s centennial. Arizona was turning 100, so it seemed like a good idea to expand the state’s history. View article…
Moody’s: U.S. CMBS Loan Delinquencies Rise to 9.32% The delinquency rate on loans included in U.S. commercial mortgage-backed securities (CMBS) conduit/fusion transactions increased by five basis points in December to 9.32 percent, according to new data from Moody’s Investors Service. At the same time, the New York-based rating agency says the rate of loans in special servicing, as measured by Moody’s loan tracker, declined by 13 basis points during the month to 11.97 percent. View article…
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Bella Vista Retail Center – 10.5% Cap Rate (In Escrow) 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.