nick@nickminer.com  480-612-0384

Daily News for Commercial Real Estate & Business – May 2, 2012

Here are the news articles you might find interesting today for commercial real estate and business:

Apartments at Steele Park Trade for $36.1M Weidner Apartment Homes, a Washington-based real estate investment and management company focusing on the western states, purchased the 399-unit Apartments at Steele Park at 411 E. Indian School Rd. in Phoenix, AZ. The property sold for $36.068 million, or about $90,000 per unit. The property was foreclosed on in April 2011 by LNR Partners LLC, which sold in last month in an REO sale. It was originally built in 1999 on 8.7 acres. It features a four-level concrete parking garage, allowing skywalk access to apartments. View article…

Business, commercial real estate loan demand up It appears to be getting easier for businesses and commercial real estate developers to get loans as more competition for good lending is driving down rates. Bizjournals.com’s Kent Hoover reports the a Federal Reserve study of senior lending officers says banks are now competing for good loans and becoming more aggressive about it. View article…

Pete’s Fish and Chips survives as small fish in big sea Hidden inside a single-story red-brick home in downtown Mesa is the headquarters of a Valley fast-food institution. The house is a metaphor for Pete’s Fish and Chips — the family-owned company is small and unassuming, yet sturdy and resistant to outside elements. Pete’s, which operates eight locations spread across Tempe, Mesa, Phoenix, Glendale and Tolleson, celebrated its 65th anniversary on March 23. View article…

P.F. Chang’s to keep Scottsdale HQ after $1B private equity sale The private equity firm buying P.F. Chang’s China Bistro Inc. plans to keep the Chinese restaurant chain’s headquarters in Scottsdale and its management team in place – at least for now. New York-based Centerbridge Partners LP and P.F. Chang’s announced a $1.1 billion deal today that will take the Arizona chain private. View article…

April CMBS Delinquency Rate Reaches 2nd Highest Reading Just two months after matching its lowest reading in a year, the Trepp CMBS Delinquency Rate reversed course and is now close to matching the highest reading of all time. At 9.80 percent, the April 2012 rate for 30-day plus delinquencies is just 8 basis points shy of the July 2011 record when it was 9.88 percent, according to Trepp, a provider of information, analytics and technology to the CMBS, commercial real estate, and banking markets. 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…

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.