Here are the news articles you might find interesting today for commercial real estate and business:
Phoenix Children’s Hospital planning $17M urgent care center in Avondale Phoenix Children’s Hospital is planning to build a $17 million urgent care center in Avondale next year. Called Southwest Valley Center, the 35,355-square-foot building at 1665 N. Avondale Blvd. will offer specialty and subspecialty care on weekdays by appointment, and urgent care with no appointment needed on nights and weekends. View article…
EdR partners on collegiate housing in Phoenix Memphis-based EdR has entered another collegiate housing deal, this one with a partner near the University of Arizona School of Medicine in Phoenix. EdR will partner with Concord Eastridge to develop, own and manage the $52 million mixed-use collegiate housing community. View article…
Hooters coming to Pavilions at Talking Stick Hooters has signed an agreement to open a restaurant at The Pavilions at Talking Stick, the regional power center in Scottsdale at Loop 101 and Indian Bend Road. The restaurant is moving into a location on the south side of the center that previously was occupied by the Oriental Gardens buffet. The space is 7,200 square feet. View article…
Northern Parkway construction under way in the West Valley F-16s from Luke Air Force Base roared overhead and West Valley leaders dug their shovels into dirt this week as the Northern Parkway project, a decade in the making, is now under way. Phase 1 of the project in portions of Maricopa County, El Mirage and Glendale, involves construction of a 4.5-mile stretch from Sarival Avenue east to Dysart Road. The $61.5 million first phase is expected to be completed by spring 2013. View article…
HOUSING:
Report: 22.8 Percent of U.S. Homes Are Underwater The number of homes with negative equity, also known as underwater homes, went up for the 2011 fourth quarter to 11.1 million, or 22.8 percent, CoreLogic revealed in a release today. Third quarter numbers showed 10.7 million properties to be in negative equity, or 22.1 percent. View article…
Nearly half of Arizona homes are ‘under water’ About half the homes with mortgages in Arizona had negative equity in the fourth quarter of 2011, CoreLogic reported Thursday. In Arizona, 48.3 percent of 631,126 residential properties with a mortgage were underwater for the fourth quarter, according to CoreLogic. That compares with 47.1 percent in the third quarter. View article…
Foreclosure-Related Sales in 2011 = 907,138 Pre-foreclosure short sales and sales of foreclosed REOs totaled 907,138 for the 2011 calendar year, RealtyTrac reported Thursday. These foreclosure-related transactions made up 23 percent of all residential sales in the U.S. last year, with short sales accounting for 9 percent and REOs accounting for 14 percent of 2011 home sales. View article…
42% of 2011 Arizona home sales distressed A new analysis shows that more than 42 percent of all Arizona home sales last year were either foreclosures or in some stage of foreclosure. That’s an increase of 12 percent from 2010 but a slight drop from the number in 2009. The report released Thursday by foreclosure tracking firm RealtyTrac shows the percentage of distressed sales in the last three months of 2011 dropped to 38 percent of all sales. 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.