Here are the news articles you might find interesting today for commercial real estate and business:
To view the May 2012 Mutlifamily Executive magazine, click here….
To view the CPI 1st Quarter 2012 Industrial Report, click here…
To view the CPI 1st Quarter 2012 Office Report, click here…
Phoenix’s Select Top Retail Sales for Q1 2012 The following is an account of the Phoenix market’s select top 10 retail sales transactions for the first quarter 2012. SyWest Development acquired three shopping centers, which included The Warner Ranch Plaza in Tempe, The Casa Paloma in Chandler and The Shoppes at Gilbert Commons in Gilbert, for a combined $121,776,600. Donahue Schriber was the seller. View article…
Phoenix’s Select Top Retail Leases for Q1 2012 The following is an account of the Phoenix market’s select top 10 retail lease transactions for the first quarter 2012. El Mirage Plaza signed a master lease for 41,705 square feet for five years at 12420 W Thunderbird Road in El Mirage. There were no brokers involved in the transaction. Rex Revola is the landlord. View article…
Regal Group Relocating in Q2 to Newly Purchased Phoenix Industrial Regal Group LLC purchased the industrial building at 945 W. Deer Valley Rd. in Phoenix, AZ for $1.725 million, or about $62 per square foot, from a family trust trading as SMW Associates LLC. Regal Group purchased the property as an owner/user and plans to occupy the building in Q2-2012, doing business as Harmon Electric, Inc. View article…
Southwest Lending Closet opens in bigger space in Avondale The Southwest Lending Closet doubled its size when it moved into a bigger building in Avondale, but it still has some big needs and it hopes to land more donors and grants. Wednesday, the Lending Closet held its grand opening in its new location in Historic Avondale, formerly called Old Town. About 150 people crammed into the 1,800-square-foot building at 218 N. Central Ave. View article…
Old Motorola radar tower demolished in Tempe as office park takes shape A Motorola radar tower at Elliott Road and the Loop 101 in Tempe was demolished May 12, clearing room for the planned Discovery Business Campus. Wentworth Property Company and partner Northwood Investors purchased the property from Freescale Semiconductor in 2011 for $53.7 million. Freescale is a spinoff of Motorola that was formed in 2004. View article…
Applications for medical-marijuana sites open The Arizona Department of Health Services will accept applications for medical-marijuana dispensaries through 5 p.m. May 25. Under the voter-approved Arizona Medical Marijuana Act, the state can have 126 medical-marijuana dispensaries, but the application process had been stalled because of lawsuits and rule making. View article…
Phoenix-area cities got innovative during economic downturn Responding to a growing demand for library services in east Mesa, the city in 2011 opened an express library at a vacant strip mall for $360,000 rather than building a stand-alone library for as much as $10 million. In Scottsdale, the city court in 2010 expanded an at-home detention and electronic-monitoring program for DUI offenders with no history of violence, making sure defendants stay employed and receive counseling. The move saved the city an estimated $1.44 million in jail fees the first nine months of the program. View article…
HOUSING:
Lennar Homes building 83 new homes in El Mirage Lennar Homes says it will build 83 new single family homes in El Mirage this summer. Lennar’s Discovery at Montecito Estates is located at Thompson Ranch and El Mirage roads in the West Valley. The homes will be sized between 1,300 and 2,900 square feet on 5,000-square-foot lots. View article…
Shadow Inventory: 46 Months to Clear Distressed Housing Supply It will take 46 months to clear the market’s supply of distressed homes, or the shadow inventory, according to estimates from Standard & Poor’s Rating Services based on first-quarter 2012 data. The agency’s latest estimate came in one month shy of the liquidation timeline determined in the fourth quarter of 2011. View article…
CURRENT FOR SALE OPPORTUNITIES:
Bella Vista Retail Center (IN ESCROW-ACCEPTING BACK UP OFFERS) 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…
2 Industrial Condos in Bahia Business Park – Owner/User opportunity to purchase 1 or both industrial condos. 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 – (PRICE REDUCED-$295,000 for both buildings!) 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…
6677 W Thunderbird – BANK OWNED – Grey shell office condo in Glendale. 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 – BANK OWNED – 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.