Here are the news articles you might find interesting today for commercial real estate and business:
Downtown Phoenix to get more apartments Crews are prepping a downtown Phoenix property to lay the foundation for 325 apartments that a Scottsdale-based developer anticipates will house a number of college students after it is finished in 2013. Executives of Concord Eastridge said they see opportunity in the increasing number of students moving into the downtown area to take classes at three major campuses: Arizona State University’s downtown Phoenix campus, with nearly 16,000 students; the University of Arizona’s College of Medicine and Pharmacy College campuses, with 560 students combined; and the Phoenix School of Law, with an estimated 1,000 students. View article…
Posh plaza bets on specialty market With 13 shops and five restaurants, The Village at Las Sendas opened in 2005 as an appeal to northeast Mesa’s deeper-pocket market. Merchants such as Greg Farr, a baker, and Jennifer Crawford, a florist, opened businesses in the complex, saying they were sold on nearby high-end incomes. But like a portrait of two economies, the half-vacant Village is a study in profitability for a few and hard times for others, its merchants say. View article…
Food, hospitality create 159k employees in Phoenix Phoenix ranks No. 13 out of all metro areas in terms of hotel and restaurant employees, but ranks further down the list when it comes to pay per employee. The report, developed by Bizjournals.com’s On Numbers from information reported to the U.S. Census Bureau, showed Phoenix has 159,171 jobs associated with restaurants and hospitality with an average pay per employee of $15,800. View article…
One Georgia Bank Closed Friday; Tally Is Now 12 State regulators closed Global Commerce Bank of Doraville, Georgia on Friday, marking the first bank closing for March and the second Georgia bank to close in two weeks. So far this year, twelve FDIC-insured banks have closed. View article…
HOUSING:
Phoenix housing market showing more improvements It appears that the housing situation in Phoenix is improving substantially, not just for low-end homes but also for homes priced under $800,000. Thanks to Fletcher Wilcox of Grand Canyon Title Agency Inc. and Justin Baker of Biltmore Partners Keller Williams Realty, along with their sources the Cromford Report, www.NetValueCentral.com and the Arizona Regional Multiple Listing Service, for some insightful findings. View article…
Foreclosure Sales Outpace Modifications for January During January, 73,767 homeowners received permanent loan modifications from mortgage servicers, according to modification data released by HOPE NOW, a voluntary, private sector alliance of mortgage servicers, investors, mortgage insurers and non-profit counselors. 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.
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