Here are the news articles you might find interesting today for commercial real estate and business:
To view the February/March 2012 Chain Store Age magazine, click here.
P.B. BELL VENTURE TO DEVELOP 228-UNIT APARTMENT COMPLEX AT MORRISON RANCH IN GILBERT A company formed by P.B. Bell Cos. in Scottsdale (Phil Bell, Chapin Bell, principals) plans to develop a 228-unit apartment complex within the Morrison Ranch community in Gilbert. Morrison Ranch Luxury Apartments LLC in Scottsdale (the P.B. Bell entity) paid $2.8 million to buy the 13.5-acre site. The seller was Morrison Ranch Inc. in Gilbert (Scott Morrison, pres.). On the same day of that sale, records show Morrison Ranch Inc. paid just under $2.296 million to purchase the parcel from the Arizona State University Foundation, a non-profit organization. Chapin Bell says the company may take on a joint venture equity partner to develop the multi-family community. View article…
TEMPE PROPERTY ACQUIRED FOR FUTURE HIGH-RISE APARTMENT DEVELOPMENT A company formed by Continental Group in Scottsdale (John Lupypciw, principal) plans to develop a high-rise multi-family community on a site once occupied by the McDuffy’s sports bar and grill near Arizona State University in Tempe. Records show Tempe Tower LLC in Scottsdale (the Continental Group entity) paid $2.1 million to buy the property, which is less than 1 acre. The seller was Johnson Bank. View article…
Gilbert development proposal features unique design Gilbert developer Joe Johnston made a splash at the town’s Planning Commission meeting Wednesday with plans for a unique mixed-use village at Agritopia. His zoning case, including code deviations and a 32-acre conceptual plan, won a unanimous recommendation from the commission and must go to the Town Council for final approval. View article…
Hotel Monroe deal to bring in boutique property nearly sealed The proposed Hotel Monroe in downtown Phoenix that never really got off the ground will become a boutique hotel after all. That’s assuming that a sale of the property – a former bank building built in 1931 – to Evergreen Devco Inc. goes through as planned. U.S. Bankruptcy Judge Randolph Haines gave the OK today for ML Manager to sell the vacant property to Evergreen for $7 million. View article…
Longtime Glendale builder to shut down Glendale-based Schuck & Sons Construction Co. Inc. has decided to shut down after more than 45 years of operation, according to a financial consultant retained by the company. Phoenix-based MCA Financial Group has been hired by Schuck & Sons to implement an orderly wind down of the operation over the next 90 to 120 days, said Morrie Aaron,MCA’s president and senior managing director. View article…
Arizona loses 34,300 jobs, 26,200 in Phoenix Arizona’s economy shed 34,300 jobs in January with losses occurring in just about every sector of the slowly recovering economy. Of those losses, 26,200 were in the Phoenix area. The private sector accounted for 27,000 of the statewide job losses, according to the most recent jobs data released today by the Arizona Department of Administration. View article…
Ave. yearly pay for real estate employees in AZ is less than $40,000 The collective sense is that real estate professionals make a lot of money, but many make far less than you might expect. According to data collected by The Business Journals, a sister publication, from the U.S. Census Bureau, the average annual pay for real estate, rental and leasing employees in the Phoenix metro area is $39,400. View article…
SAMPLE 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.