Here are the news articles you might find interesting today for commercial real estate and business:
Banks foreclosing on churches in record numbers Banks are foreclosing on America’s churches in record numbers as lenders increasingly lose patience with religious facilities that have defaulted on their mortgages, according to new data. The surge in church foreclosures represents a new wave of distressed property seizures triggered by the 2008 financial crash, analysts say, with many banks no longer willing to grant struggling religious organizations forbearance. View article…
Market Street continues to add tenants to lineup Two new businesses announce plans to open locations in north Scottsdale beginning in March. Market Street Kitchen and The Pilates Room will join the set of shops at Market Street in DC Ranch, at Thompson Peak Parkway and Pima Road. The two openings follow the recent opening of Italian restaurant, Mia Francesca. View article…
‘Higher end’ swimwear store open in Phoenix A Scottsdale resident is expanding her swimwear business with a new store at Desert Ridge Marketplace. Tracy Sanders, who owns Pebbles Swimwear at Chandler Fashion Center, recently opened her first store in northeast Phoenix. The Desert Ridge location is next to Sunglass Hut, in the outdoor shopping center at Loop 101 and Tatum Boulevard. View article…
First Solar to build project for NRG in Southern Arizona First Solar Inc. will build a 26-megawatt solar facility near Tucson for NRG Energy Inc. with plans to bring the power plant online by the end of the year. Tempe-based First Solar (Nasdaq: FSLR) will build the Avra Valley project for Princeton, N.J.-based NRG (NYSE: NRG) in a continuing relationship between the two companies. View article…
Phoenix ranks No. 11 in transportation, warehouse employment The Phoenix area ranks No. 11 out of U.S. metro areas in terms of the number of people employed in the transportation and warehouse businesses, according to a new survey. A revue of recent U.S. Census Bureau figures by On Numbers at Bizjournals.com, a sister publication of the Phoenix Business Journals, found the region has 61,921 employees in transportation and warehouses at 1,948 businesses. The average wage per employee is $39,500 annually. View article…
PREA Survey: Investors Expect Returns of 9.3% in 2012 The Pension Real Estate Association’s most recent consensus forecast survey indicates investors are expecting total returns of 9.3 percent in 2012 – a 140 basis point increase from what the survey indicated three months ago. PREA surveys a subset of its member firms about their forecasts of the U.S. commercial real estate markets as represented by the NCREIF Property Index (NPI). PREA surveyed 22 firms in the first quarter, representing investment managers, advisors and researchers. View article…
Capital Markets 2012 What issues are facing the lending market this year? Many economic issues converged late last year to slow commercial real estate’s recovery. In addition, the uncertainty of vintage commercial mortgage-backed securities loans coming due this year and for the next several years has buyers, sellers, and investors speculating on the continuing availability of capital. To get a clearer picture of the capital markets’ activity this year, Commercial Investment Real Estate asked an economist and two mortgage banking executives to weigh in on the subject. View article…
Number of Failed Banks Rises to 13 After Illinois Bank Closing State regulators closed New City Bank of Chicago, Illinois March 9, raising the national tally for closed FDIC-insured banks to 13 so far this year. The FDIC was unable to find another financial institution to take over the failed bank. View article…
Choosing a CRM (I’m quoted in this article) Wouldn’t it be nice to have a full-time assistant who could remember all your clients’ names, properties, and birthdays? Even better, what if the assistant was available 24 hours a day and never called in sick? For many commercial real estate professionals, a customer relationship management system fills that role. A CRM system can improve a company’s efficiency, as long as the system matches the company’s needs. View article…
Marketing for Today’s Market (I’m quoted in this article) These 3 Web-based strategies can build new business and expand your brand. In this economy, everyone is looking for a deal. Consumers and businesses alike are scrambling to ensure the bottom line pencils out, fostering a Groupon-like mentality in nearly every industry. What started as a deal-of-the-day site featuring restaurant coupons, Groupon now offers everything from discounted medical examinations, to low-cost tax preparation, to deals on residential real estate services. In fact, last year a Chicago residential brokerage offered $1,000 back at closing for buyers who purchased a $25 Groupon coupon. View article…
CURRENT OPPORTUNITIES:
Bella Vista Retail Center – 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…
Former TDC Corp HQ – 6515 S Rural Road, Tempe, AZ – Former Corporate HQ for TDC in Tempe, AZ For Sale. For more information, 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…
Feel free to contact me regarding any of these stories, the current market, distressed commercial real estate opportunities or your property.
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