Here are the news articles you might find interesting today for commercial real estate and business:
Annual Instructor Update Info As you know, I teach continuing education classes at Arizona School of Real Estate and Business (ASREB). Last week, ASREB hosted their annual instructor update. This is a great opportunity for me to hear about the legislative changes that have a direct impact on real estate. Also, this is where I can get get the inside scoop on the residential market from the “feet in the street” perspective on our market. View article…
Garden Ridge Acquires Superstition Triangle Garden Ridge LP has acquired the Superstition Triangle shopping center, located at the northwest corner of Baseline and Greenfield Roads in Mesa, AZ, from AHF Partners LLC, through its court-appointed receiver, Trident Pacific Real Estate Group, Inc. The 163,892-square-foot retail center is located on 12.75 acres. The big-box anchor space totals 144,500 square feet, and was originally built for K-Mart but remained un-occupied until American Home Furnishings took the space for several years before closing. The sale also included the 10,121-square-foot strip building and a restaurant. View article…
Chandler office center sells for $9.9 million A Los Angeles real estate firm has bought a Chandler office center for $9.9 million. Held Properties Inc. bought the 67,600-square foot Chandler Corporate Center. The office building is located north of the Loop 202 freeway nestled in between the Loop 101 and Interstate 10. Corporate Center Investments was the seller. The center is 100 percent leased. View article…
Mesa downtown senior housing project a go A controversial senior housing project in Mesa’s downtown won City Council approval this week despite objections that the council and the public lacked time to review the deal. The vote came less than two days after the development agreement and other documents were released in connection with the agenda for Thursday’s special council meeting. Because the project faces other looming state deadlines, the council scheduled an unusual special meeting so it could formally vote on the development agreement. View article…
New Fountainhead Building Ready to Rise in Tempe In the Tempe, an office tower is ready to rise and the hunt is on for a company to locate or expand in the Triangle. According to the Phoenix Business Journal, a shovel-ready, $93 million project at the Fountainhead Corporate Park, a 100-acre mixed-use development along Interstate 10 near Broadway Road, already has an architect, prospective builders and entitlements from the city, which were secured almost two years ago. Now, the only thing developer Metro Commercial Properties and financing partner USAA Real Estate Co. need to get the project off the ground within 12 to 18 months is to corral a viable company with a big enough employee base to fill about 250,000 square feet. View article…
Phoenix the No. 2 US moving destination, association says Phoenix is among the most popular moving destinations in the U.S., according to the American Moving and Storage Association. Yahoo Real Estate reports Phoenix ranked No. 2 on the association’s list of popular moving destinations from January to March of this year, based on inbound shipments. View article…
Real Estate Is Recovering, So What’s Next? W. P. Carey School Expert Talks Future Trends As job numbers and consumer spending begin to rise post-recession, the real estate market is also starting to recover. But will we see a repeat of massive growth, skyrocketing prices and cookie-cutter homes? One expert from the W. P. Carey School of Business at Arizona State University analyzes likely future trends. “We have a lot of people looking at the same real estate data and making decisions at the same time,” explains Mark Stapp, the Fred E. Taylor Professor in Real Estate and director of the Master of Real Estate Development (MRED) program at the W. P. Carey School of Business. “This is how markets wind up with overbuilding and speculation, but I’m actually hopeful that won’t happen in the Phoenix metro area this time. After the recent bust, real estate professionals are paying more attention to differentiating projects and focusing more on users’ wants and values. Also, lenders are enforcing more discipline.” View article…
CURRENT FOR SALE OPPORTUNITIES:
Bella Vista Retail Center (IN ESCROW-ACCEPTING BACK UP OFFERS) Investment, multi-tenant retail center. For a brochure, 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.