I hope you have a safe Independence Day tomorrow!
I will be picking the daily news back up on Monday, July 9th. Enjoy your weekend!
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:
To view the July 2012 Commercial Property Executive magazine, click here…
Dallas developer closes on land for luxury apartments at One Scottsdale On Friday, a Dallas-based apartment developer closed the first part of a two-phase, $30.6 million deal with DMB Associates Inc. for vacant land at One Scottsdale. Blueprints for the planned mixed-use project include a 677-unit luxury apartment complex on about 30 acres. TDI Real Estate Holdings LLC doled out $16.6 million to acquire 17 acres at the northeast corner of Thompson Peak Parkway and Grayhawk Drive, just north of the Henkel North America headquarters, according to a statement released Friday by Michael Lieb Ltd. View article…
Company wants to build massive train yard near Picacho Peak An on-again, off-again effort to build a massive rail yard along Interstate 10 near scenic Picacho Peak is gaining momentum. Union Pacific Corp. has asked the state to act on its 6-year-old application to build a rail yard 6 miles long and wide enough to accommodate up to 74 tracks. The Red Rock Classification Yard would sit on the east side of I-10, across the highway and just south of the historic and popular Picacho Peak State Park. View article…
Planet Fitness founder brings new club to NE Phoenix area The founder of Planet Fitness is bringing a new health club to northeast Phoenix. Rick Berks, founder of YouFit, a new fitness center, is opening a location in July. YouFit is based in St. Petersburg, Fla. The newest location will open in the strip mall on the southeast corner of Tatum Boulevard and Greenway Road. View article…
Couple opens Olive Gourmet in Peoria Greg and Melinda Piwinski have owned small businesses most of their married life, although the goods and services they offer have changed dramatically through the years. The couple switched from landscaping to bicycles and now to selling olive oil and vinegar at their new business Olive Gourmet at Park West Mall, near Loop 101 and Northern Avenue in Peoria. View article…
VELOCITY RETAIL GROUP REPRESENTS GARDEN RIDGE’s EXPANSION INTO THE WESTERN STATES Darren Pitts, Executive Vice President of Velocity Retail Group, represented Garden Ridge on their first store in the western United States. “The first location for Garden Ridge in the Arizona marketplace is the acquisition of a 163,892-square-foot facility at the northwest corner of Baseline Road and Greenfield Road in Mesa, Arizona,” said Pitts. “The building was originally built for K-Mart but was never occupied until American Home Furnishings occupied it for several years before their stores in the Valley closed. View article…
Small business hiring strong in Arizona, up nationwide Arizona led the nation in small business employment growth for June, growing at double the U.S. average. Arizona small business employment increased by 0.6 percent in June, according to a new report from Intuit based on payroll data from 150,000 small businesses across the country. View article…
Trepp Reports CMBS Delinquencies Hit All-Time High The delinquency rate for commercial mortgage-backed securities (CMBS) moved up 12 basis points in June to 10.16 percent, reaching an all-time high, according to a report from Trepp. The delinquency rate includes loans 30 days delinquent or in foreclosure. In May, the rate surpassed 10 percent at 10.04 percent. A year ago, the delinquency rate was 9.37 percent and prior to breaking through the 10 percent barrier, the delinquency rate was 9.80 percent in April. View article…
Valley housing agency closes The demise of a Mesa community housing agency has punched a hole in the Valley’s social-services network even as the region continues to struggle with fallout from the recession. Housing Our Communities closed its doors last month after a 24-year run during which it helped nearly 2,900 families move into their first homes and offered homeownership counseling and other services to thousands more. View article…
Rising Phoneix home prices lead the nation As the national housing market gradually trends upward this year, metro Phoenix and Arizona home values continue skyrocketing at the fastest rate in the nation, according to data released today by CoreLogic. Home prices — including foreclosures and short sales — in the Phoenix, Mesa and Glendale markets jumped 14.7 percent in May compared with the same time last year, the CoreLogic report said. View article…
Check out the Market Reports section of my webpage! The market reports that I review on a regular basis will be archived here. I would like to know your feedback after looking at the page. Send feedback by click here…
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-IN ESCROW – 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.