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Daily News for Commercial Real Estate & Business – June 26, 2012

Here are the news articles you might find interesting today for commercial real estate and business:

Prologis buys former Plastican warehouse in Phoenix for $6.2M Prologis, a publicly traded real estate investment trust based in San Francisco, has purchased the former Plastican Inc. plastic injection-molding warehouse in west Phoenix for $6.2 million. The 106,000-square-foot property on 21.5 acres near 43rd Avenue and Buckeye Road was sold by Plastican Phoenix Properties LLC, a Massachusetts entity of Plastican Inc., according to Lee & Associates, which facilitated the transaction. View article…

ASU’s Block 12 Development and New Businesses Arizona State University has announced the development of Block 12, a multi-story, mixed-use development located on College Avenue, between 6th and 7th Streets. Breaking ground this year, Block 12 brings five stories of classroom, office, and retail space, including a new student bookstore, to the heart of Downtown Tempe. With pedestrian friendly storefronts and student activity, Block 12 will help connect the campus to Mill Avenue by filling vacant land owned by the university. View article…

Arizona ranks third for construction Job growth in May The latest Bureau of Labor Statistics data shows the nation’s construction workforce continued dwindling in May, yet Arizona was among the minority of states that boasted year-over-year gains in the sector. Arizona saw the third highest spike in the nation last month in terms of the number of new construction jobs compared to last year, trailing closely behind only Texas and California in first and second places, respectively, according to the BLS data compiled and released Friday by the Associated General Contractors of America. View article…

Is a Repeat of the Recent Crisis on the Way for Commercial Real Estate? A commercial real estate crisis in the U.S. is looming over the next two to three years, as at least $1.5 trillion in commercial mortgage debt issued over the past decade becomes due, cautioned industry practitioners speaking at the National Association of Real Estate Editors conference in Denver. View article…

Moody’s/RCA: CRE Prices Fell in April, Major Markets Lead Recovery Commercial real estate prices fell in April across nearly all sectors, according to the Commercial Property Price Index from Moody’s and Real Capital Analytics. The CPPI, composed of 20 indices, showed that CRE prices in the United States were down 0.6 percent in April. View article…

Housing Demand: What Will a Comeback Look Like? As the economy begins to show signs of improvement, what will happen to the millions of households that have not yet formed or have been forced into new configurations as a result of the Great Recession? Industry experts who gathered to address this question at a ULI Terwilliger Center for Housing forum, on June 21, agreed that the short answer is “it depends” – on a complex, interrelated array of factors. Overall, most participants agreed that while there is no single correct answer for the nation or even for a given state or metro area, there are some common themes. 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.