Here are the news articles you might find interesting today for commercial real estate and business:
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Lincoln Towne Centre sells in Scottsdale for $34 million The Lincoln Towne Centre at 4150 N. Drinkwater Blvd. in Scottsdale sold for $34.25 million, or $153.17 per square foot. The buyer was BPG Investment Partnership IX LP, an affiliate of BPG Properties Ltd., which is based in Philadelphia. The seller was Lincoln National Life Insurance Co. View article…
MARCUS & MILLICHAP SELLS A 27,996-SQUARE FOOT RETAIL BUILDING Marcus & Millichap Real Estate Investment Services has announced the sale of Plaza One, a 27,996-square foot retail property located in Phoenix, AZ. The asset commanded a sales price of $1,625,000. View article…
Goodwill to open 3 stores in Peoria, Phoenix Goodwill of Central Arizona plans to open three stores in March. The first 150 shoppers on opening day will receive a $5 gift card: Lake Pleasant and 83rd Avenue, 20713 N. 83rd Ave., Peoria. Union Hills, 710 E. Union Hills Drive, Phoenix. Baseline and 19th Avenue, 1980 W. Baseline Road, Phoenix. View article…
Popular 44th & Camelback site in Phoenix facing foreclosure Land and several buildings including an iconic retail strip surrounding the Londen Center at 44th Street and Camelback Road in Phoenix are facing foreclosure. Grace Communities, a former Valley development company, had planned to build a high density multi-use project on seven acres at the 44th and Camelback site that included office, retail, condominiums and a boutique hotel. View article…
BOMA Greater Phoenix Names 2011 Kilowatt Krackdown Winners BOMA Phoenix Green Buildings Committee has named the 2011 winners for the Kilowatt Krackdown Awards program, honoring buildings in the greater Phoenix market that strive for energy efficiency. View article…
Developers Are Increasingly Pursuing Adaptive Reuse Opportunities The appearance of a new tower that alters a familiar skyline is always going to garner a lot of attention. In fact, one mark of boom times is the race to build the tallest, biggest or most expensive project. In contrast, in normal recessions development takes a dip. But the recent recession was far deeper and more severe than normal. As a result, new development remains dormant. Instead, as the recovery continues to take shape, developers are finding work increasingly in the form of adaptive reuse. View article…
First Solar’s Mesa factory delay will mean job losses The move by First Solar Inc. to delay manufacturing at its planned Mesa facility will mean a loss of jobs, but the city will continue pursuing development near the plant. First Solar announced Tuesday it would finish the more than $300 million facility near Signal Butte and Elliott roads, but it wouldn’t start manufacturing as planned in 2013. View article…
Phoenix small business hiring on the rise, but pay is down Phoenix experienced the third largest increase in small business hiring amongst major Western cities in February, according to the latest report by SurePayroll Inc. According to the online payroll provider’s Small Business Scorecard for February, hiring for Phoenix small businesses grew 0.4 percent, while paycheck size fell 0.1 percent. View article…
HOUSING:
Feds Put Up First Round of REO Housing Properties for Rent The Federal Housing Finance Agency kicked off the first steps of its real-estate owned (REO) initiative aimed at moving foreclosed housing stocks back into the hands of owner/operators, with the initial effort targeting the hardest-hit metropolitan areas, including Atlanta, Chicago, Las Vegas, Los Angeles, Phoenix and parts of Florida. View article…
SAMPLE OPPORTUNITIES:
Bella Vista Retail Center – (BACK ON MARKET) Investment, multi-tenant retail center. For a brochure, click here…
5051 & 5057 E Thomas Road – Former Dentist Office and Former Real Estate Office For Sale. For a brochure, click here…
Kokopelli Springs in St. David, AZ – Investment, 56 unit mobile home park. For a brochure, click here…
7320 N Dreamy Draw – Freestanding Office Building in Squaw Peak Corridor-great owner/user opportunity. For a brochure, click here…
2 Acres of Land – (NEW LISTING) Owner/User opportunity to purchase 2 acres of land off of I-10 & 40th Street. 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.