I hope you have a safe and fun Memorial Weekend with your family and friends!
Now, here are the news articles you might find interesting today for commercial real estate and business:
To view the following 2nd Quarter 2012 Marcus & Millichap Reports on Phoenix, click Retail / Office / Apartments (Each of these reports and past reports are being archived for later reference here)
FULTON HOMES SPENDS $15.676 MILLION FOR EAST VALLEY LAND TARGETED FOR 800+ HOMES Fulton Homes Corp. in Tempe (Norm Nicholls, pres.) plans to build more than 800 residences on two parcels the company recently acquired in Queen Creek and Gilbert. Fulton Homes purchased roughly 315 acres for the planned single family communities in two cash transactions totaling a combined $15.676 million. View article…
INDUSTRIAL INCOME TRUST BUYING 300,000+ SQUARE-FOOT DISTRIBUTION PROJECT IN TOLLESON A company formed by Industrial Income Trust in Denver, Colo. (Dwight Merriman, CEO) has agreed to acquire a 302,640-square-foot distribution building at 9704 W. Roosevelt Road in Tolleson. The seller in the $15+ million deal is a limited partnership formed by Prologis Inc. in Denver, Colo. (NYSE:PLD). The cash transaction, which is set to close in June…View article…
Pollack buys, plans to refurbish north Phoenix strip center Michael A. Pollack Real Estate Investments has purchased a run-down north Phoenix strip center for $750,000 and plans to refurbish it. The Mesa-based firm purchased the 25,000-square-foot strip mall near Cave Creek and Bell roads in north Phoenix for about 60 percent less than what the seller, California Credit Union, paid for it three years ago and almost half the property’s assessed value for 2012, according to records in the Maricopa County Assessor’s and Recorder’s offices. View article…
District Medical Signs 11-Year Lease in Phoenix District Medical Group, a not-for-profit medical company, signed an 11-year, $13.5 million lease deal for 56,530 square feet of ground floor medical office space at 3110 N. Central Ave. in Phoenix, AZ. The three-story building totals 221,376 square feet in the Park Central office park. District Medical Group will operate a children’s rehabilitative service clinic at this location, expected to open later this year. View article…
Scottsdale condo project gets OK for changes A five-building condominium complex under construction west of Scottsdale Fashion Square now will include an 11-story building along Camelback Road and 288 additional units. The City Council on Tuesday voted to approve an amended site plan, amended development standards and a downtown infill-incentive district application for Optima Sonoran Village, at the southeastern corner of Camelback and 68th Street. In 2010, the council approved a site plan that included 493 units and a maximum building height of 65 feet. View article…
Mesa’s Fiesta District target of several new developments A flurry of projects around Mesa’s Fiesta Mall are expected to begin within a year and have the potential to reverse the fortunes of an area that’s been stagnant or declining for years. The improvements will update the hodgepodge of 1970-era buildings and draw more people to what was once the East Valley’s top shopping destination. View article…
All Commercial Real Estate Sectors Continue to Improve, Multifamily Strong Shaking off a prolonged impact from the recession, fundamentals are gradually improving in all of the major commercial real estate sectors, according to the National Association of Realtors quarterly commercial real estate forecast. The apartment rental sector has fully recovered and is growing. The findings also are confirmed in NAR’s recent quarterly Commercial Real Estate Market Survey, which collects data from members about market activity. 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…
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.