Here are the news articles you might find interesting today for commercial real estate and business:
Center for Entrepreneurial Innovation Opens Sitting in the heart of Discovery Triangle near Sky Harbor Airport in Phoenix, the Center for Entrepreneurial Innovation (CEI) at GateWay Community College will officially open its doors today. Clients are being courted to bring their businesses to this new business incubator. The CEI offers programming, mentoring, space and many other professional services. “CEI is the only comprehensive business incubator in the City of Phoenix where great minds and resources come together to help further the success of innovative entrepreneurs in the greater Phoenix area,” said GateWay President Eugene Giovannini. “The center will aid in further developing business in the area and the state.” View article…
Luxury apartment complex planned for Chandler Butte Cos., which built the Landmark at Kierland luxury condos, is investing $35 million in a 10-acre mixed use project proposed in Chandler. The Scottsdale-based developer will build 222 luxury apartment units on McClintock Drive north of Chandler Boulevard. View article…
Scottsdale hotels see flat start to 2012 After climbing throughout 2011, Scottsdale hotel occupancy dropped slightly in January from a year earlier, and revenue was essentially flat. According to research from STR Global, January’s hotel occupancy rate in Scottsdale was 66.4 percent, a 0.8 percent decline from January 2011. The average daily room rate was up 1.1 percent, to $168.40, but revenue per available room was up only 0.3 percent, to $111.82. View article…
Arizona No. 1 for startups, Kauffman study finds Arizona had the highest entrepreneurial activity rate of any state last year, according to new research from the Kauffman Foundation. While fewer Americans started their own businesses last year, 520 out of every 100,000 adults in Arizona started a business in 2011. View article…
Office-Worker Retail Spending in a Digital Age With U.S. office workers accounting for one-fifth of the total workforce, ICSC Research released its new office-worker spending study, which is entitled Office-Worker Retail Spending in a Digital Age. This latest study was the third since 1987 and had the broadest coverage of goods and services categories. To read the full report, click here…
HOUSING:
New-home project for north Phoenix advances A development of 40 new homes has passed a preliminary site-plan review, the second time the plan has gone through the process. The developer, New Jersey-based Ridgeview LLC, passed the review in 2009 but had to come back again because so much time had elapsed. The land was rezoned for homes in 2008. Ridgeview plans to build 40 homes at the southwestern corner of 32nd Street and Deer Valley Road, on 16 acres wedged between the Reach 11 Sports Complex to the west and vacant land within the Desert Ridge master-planned area on the eastern side. View article…
Fannie: Single-Family Rental Growth Won’t Infringe on Multifamily As the government begins to tiptoe into the REO-to-rental arena after many months’ deliberation and input from thousands of industry participants, Fannie Mae released a data note on the single-family rental market. Overall, single-family renters increased by 2.7 percentage points from 2005 to 2010, according to data Fannie Mae compiled from the American Community Survey. View article…
CURRENT FOR SALE OPPORTUNITIES:
Bella Vista Retail Center – Investment, multi-tenant retail center. For a brochure, click here…
+/- 43,000 SF Leased Industrial Building in Southern Gardens – Single Tenant Investment opportunity. For more information, 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…
5051 & 5057 E Thomas Road – Former Dentist Office and Former Real Estate Office For Sale/Lease. 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…
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 – 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.