Here are the news articles you might find interesting today for commercial real estate and business:
2 Closings in 1 Day!
SOLD: Former TDC Corporate HQ in Tempe After a successful marketing strategy, the former corporate headquarter office building closes escrow. Nick Miner, CCIM and Leroy Breinholt exclusively represented the seller in this transaction. View article…
SOLD: Bella Vista Village in Queen Creek After a successful marketing strategy, Bella Vista Village closes escrow. Nick Miner, CCIM / Dave Verwer, CCIM / Homer Savard, CCIM exclusively represented the seller in this transaction. View article…
Village Diamante in Glendale sells for $6 million A 69-unit Glendale apartment community sold for more than $6 million, a broker involved in the deal said Friday. Marcus and Millichap Real Estate Investment Services announced the sale of Village Diamante, which was owned by First International Bank and Trust. JHL Real Estate LLC in Scottsdale purchased the property, at 8050 N. 61st Avenue in Glendale, for $6.7 million. View article…
Coffee shop ‘breastaurant’ coming to Scottsdale “Breastaurants” like Tilted Kilt and Hooters have generally catered to the beer-drinking, sports-loving crowd, but now the concept is coming to a coffee shop in Scottsdale. Barista Caf is set to open Aug. 12 as a “bikini” coffee shop and restaurant serving breakfast and lunch. View article…
Whiskey Row building that burned to be demolished A building on Prescott’s famed Whiskey Row that burned nearly three months ago will be demolished. The Daily Courier reports that demolition work will begin within the next week or so on the building that housed Pearl’s Place Caf, The Bird Cage Saloon and the Prescott Food Store. View article…
Trepp Reports Another All-Time High for CMBS Delinquency Rates The delinquency rate for commercial real estate loans reached another all-time high in July, according to a report from Trepp. Spiking up another 18 basis points, the CMBS delinquency rate stood at 10.36 percent, up from 10.16 percent in June and 10.04 percent in May. Last year at this time, the rate was 9.88 percent. View article…
Summit Builders to be acquired by Pittsburgh’s Dck Worldwide Summit Builders Construction Company, a Phoenix general contracting firm, will soon be acquired by Pittsburgh-based construction firm Dck Worldwide LLC. Until the takeover is complete, the duo has formed a joint-venture company, Summit Dck LLC, that will handle all incoming projects, Summit announced late last week. View article…
Phoenix expedites building process Phoenix is fast-tracking its process for building-plan reviews and inspections, eliminating red tape and making the city a magnet for new companies, supporters of the move say. The changes have been widely praised by business leaders who say they give Phoenix a competitive edge in attracting employers looking to open their doors quickly and for less money. Few cities around the country have pursued similar outsourcing. View article…
Rosewood Homes plans luxury infill development in Phoenix Rosewood Homes, a Scottsdale-based luxury home developer, paid $2.05 million in cash this month to acquire an infill parcel in the Camelback Corridor where blueprints call for an 18-luxury home neighborhood that is slated to begin opening next spring, company representatives announced Monday. View article…
Phoenix Prices Gain as Foreclosure Resales Dwindle: DataQuick After being known as one of the hardest-hit cities, Phoenix has been gaining recognition for its rapidly rising prices. DataQuick reported the median sale price of a home in the Phoenix metro area in June rose for the seventh month in a row to $152,000, the highest level since late 2008. The figure is a 23.1 percent yearly increase from $123,500 in June 2011. In May 2012, the median sale price was $150,000. 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 (SOLD) Investment, multi-tenant retail center. For a brochure, click here…
Former SunTykes Property in Tempe Arizona – Owner/User Opportunity. For more information, click here…
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…
1 Industrial Condos in Bahia Business Park (UNIT 104-SOLD – 105 Still available) Owner/User opportunity to purchase 1 industrial condos. For more information, click here…
Former TDC Corp HQ – 6515 S Rural Road, Tempe, AZ (SOLD) – 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.