Here are the news articles you might find interesting today for commercial real estate and business:
IL PALAZZO, THE CITADELLE SELL FOR $27.3M IN GLENDALE Il Palazzo and The Citadelle, two mixed-use properties located in the master-planned community of Arrowhead Ranch in Glendale, have sold to YAM Management for $27.3 million. Il Palazzo contains 44,548 square feet of retail and medical space that is 90 percent leased. The Citadelle boasts 105,246 square feet of office and retail property that is 85 percent leased. View article…
Top 10 Threats to CRE This Summer (I am quoted in this article) While traditionally a time for rest and relaxation, this summer could pose further threats to the fragile recovery in the commercial real estate industry. Ongoing and pending distresses in the market are numerous and troublesome — and for the most part are the type the industry can do little about. View article…
NRG subsidiary Sunora opens Phoenix manufacturing plant NRG Solar subsidiary Sunora Energy Solutions officially opened its manufacturing facility in Phoenix today, though the facility has been operating for about a couple of months. Sunora is operating out of a 58,000-square-foot manufacturing facility at 2342 E. Universit Drive in a manufacturing operation that is designed to produce ready-to-use elements of solar systems that aren’t related to panels. View article…
Gauthier to expand with California, online shops Jeweler Scott Gauthier is expanding his Scottsdale-based business to Santa Barbara, Calif., and starting an online store to allow people anywhere to order his personally designed and handcrafted jewelry. Gauthier first opened his shop at 4211 N. Marshall Way in Old Town Scottsdale in 1989, and that location remains the flagship store. View article…
Villa La Paws opens first out-of-Arizona franchise Villa La Paws LLC, a Phoenix-based cage-free pet resort and spa, is opening its first out-of-state franchise in Castle Rock, Colo. The company owns two locations and a dog training academy in the Phoenix area. View article…
City, business leaders staking out Scottsdale Airpark of the future The Scottsdale Airpark of the future will have modern apartments within walking distance of shops, better transit and mid-rise buildings taking the place of outdated offices, under long-term plans supported by the city and business leaders. Scottsdale’s predominant employment center is poised for redevelopment in the next two decades, a result of planning by the city and stakeholders to inject new life into the area. View article…
HOUSING:
Home Sales Prices Up in Phoenix, But It’s a Complex Picture Phoenix home prices continued to rise in April, up 25 percent over last year, although the number of homes sold declined. A change in the mix of homes for sale and continuing tight supply is contributing to the increase in price. Listen to the podcast….
Existing Home Sales Fall Again, Prices Rise in May Existing home sales dropped to 4.55 million in May while the median price of an existing home rose to $182,600, the National Association of Realtors reported Thursday. The decline in the seasonally adjusted annual rate of sales was the third in the last four months and steeper than expected. Economists surveyed by Bloomberg forecast 4.57 million in sales. 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…
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.