The Baby Reesa Benefit Golf Tournament For more info, click here…
Here are the news articles you might find interesting today for commercial real estate and business:
SOLD: 16622 N 91st Street – Suite 104, Scottsdale, AZ We (Homer Savard, CCIM and I) exclusively represented the Seller. We received over 6 offers on this unit within the first 2 weeks of marketing this property for sale. The buyer intends to operate their business out of this location and use it for storage. View article…
Jimmy Woo’s closes in Scottsdale, but Morning Squeeze to replace it It was a quick turnaround for the Old Town Group as it closed the doors of Jimmy Woo’s Asian restaurant on Saturday and began renovating the space for a breakfast-oriented restaurant called Morning Squeeze on Sunday. View article…
Extra Space Storage Locks Up $300M Acquisition of 36 Properties Salt Lake City-based Extra Space Storage Inc. (NYSE: EXR) announced that it has completed its acquisition of the remaining interest in a joint venture formed with Prudential Real Estate Investors (PREI) that owns 36 self-storage properties in 18 states. View article…
After huge Gilbert fire, plumbing-supply company to move headquarters to Mesa About three weeks after a six-alarm fire devastated a plumbing-supply warehouse in Gilbert, Farnsworth Wholesale Co. has announced it will relocate its headquarters to an existing building near Falcon Field in Mesa. View article…
SOLON Corporation Begins Construction on 460kW Solar Project in Gila Bend, Arizona SOLON Corporation, one of the largest providers of turnkey solar power plants and photovoltaic (PV) products in the U.S., today announced it has begun construction on a 460 kilowatt (kW) photovoltaic (PV) system for the Town of Gila Bend’s Reverse Osmosis (RO) Water Treatment Facility in Arizona. View article…
Downtown Mesa is getting its fourth liberal-arts school The idea was to take a sprawling desert suburb, better known for senior-living trailer parks than for schools, and retrofit it with the kinds of colleges that sprang up in America’s older regions, decades or even centuries ago. It may have seemed audacious, even quixotic. Ivy, after all, doesn’t do well in the heat. View article…
Phoenix Trolley Museum may move Supporters of reviving the old trolley-car system in Phoenix’s re-emerging Grand Avenue arts and business district are concerned that their effort could be hampered by the loss of the Phoenix Trolley Museum north of downtown. View article…
June CMBS Delinquency Rate Reaches New Record at 10.16% The 30+ days delinquency rate for U.S. CMBS loans reached an all-time high in June, at 10.16 percent, according to Trepp LLC, or $59 billion. The figure represents a 12 basis points increase over the delinquency rate reported in May. It is also 79 basis points above the 9.37 percent delinquency rate reported last June. The percentage of loans considered seriously delinquent, including those that have been in delinquency 60+ days and those that reached foreclosure, are in REO or are non-performing balloons, went up 22 basis points during the month, to 9.73 percent. View article…
Leasing and Sales are on the Upswing, but Concerns Remain in Retail Sector After four years of moribund growth, the volume of new development in the retail real estate sector will likely remain minimal. But that’s a good thing, as far as brokers and investment specialists are concerned. Heads of the leading mall REITs don’t expect new regional malls to be built in the next three to five years – in a mature market, there isn’t a need for them. Shopping centers development might pick up, due to demand for new stores from expanding grocers and drug chains, but will not reach 2005 to 2007 levels. View article…
Landlord’s Lease is How Many Pages? 101 Practice Tips for Negotiating a Tenant-Friendly Commercial Real Estate Lease” (This was provided by Janet Jackim) This article analyzes provisions in commercial real estate leases often overlooked by the commercial tenant or its real estate agent. Consideration of the following practice tips during lease negotiations may produce not only a more tenant friendly lease but also cost savings and operational benefits to the tenant. View article…
NFIB: Small business confidence hits 8-month low A widely followed index of small business indicators plunged 3 points in June to 91.4, its lowest level in eight months. “All in all, this month’s survey was a real economic downer,” said William Dunkelberg, chief economist for the National Federation of Independent Business. View article…
Best states for business: Texas 1st, Arizona 22nd, California 40th Texas ranks first and Arizona 22nd on a new list today from CNBC for the best U.S. states for business. Arizona came in ahead of some of its western rivals including California (40th), Nevada (45th) and New Mexico (35th). View article…
Zillow Lists 10 Best Markets for Buyers and Sellers San Francisco, San Jose, and Las Vegas metro areas were named as the top markets for sellers, while Chicago, Milwaukee, and Cleveland were categorized as markets where buyers have more power, according to a report released from Zillow Tuesday. View article…
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CURRENT FOR SALE OPPORTUNITIES:
Bella Vista Retail Center (IN ESCROW-ACCEPTING BACK UP OFFERS) Investment, multi-tenant retail center. For a brochure, click here…
NEW: Former SunTykes Property in Tempe Arizona – Owner/User Opportunity. For more information, click here…
NEW: Freestanding Auto in Mesa, Arizona – Owner/User Opportunity. For more information, click here…
+/- 43,000 SF Leased Industrial Building in Southern Gardens – Single Tenant Investment opportunity. For more information, click here…
2 Industrial Condos in Bahia Business Park (UNIT 104-SOLD – 105 Still available) Owner/User opportunity to purchase 1 or both industrial condos. For more information, click here…
Former TDC Corp HQ – 6515 S Rural Road, Tempe, AZ (IN ESCROW-ACCEPTING BACK UP OFFERS) – Former Corporate HQ for TDC in Tempe, AZ For Sale. For more information, click here…
7320 N Dreamy Draw – Freestanding Office Building in Squaw Peak Corridor-great owner/user opportunity. For a brochure, click here…
6677 W Thunderbird – BANK OWNED – Grey shell office condo in Glendale. For a brochure, click here…
Kokopelli Springs in St. David, AZ – Investment, 56 unit mobile home park. For a brochure, click here…
2 Acres of Land – Owner/User opportunity to purchase 2 acres of land off of I-10 & 40th Street. For a brochure, click here…
3.64 Acres of Land – BANK OWNED – Infill Development opportunity in Surprise. 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.