Here are the news articles you might find interesting today for commercial real estate and business:
ICSC Recon 2012 – Wrap up There have already been a lot of articles written about this year’s ICSC Recon 2012. Here is my opinion after wearing down the shoe leather with 35,000 fellow ICSC brethren. First, it goes without saying that attendance was significantly better than the past few years. View article…
JV Buys 660-Unit Haven from Foreclosure AG-ICC Haven Owner LLC, a joint venture between San Diego-based Interwest Capital Corp. and Angelo, Gordon & Co. in New York City acquired the 660-unit Haven from foreclosure. The JV paid special servicer Petra Capital Management $46.5 million for ownership rights, and plans additional capital investment of $5,000 per unit for upgrades, as well as extra for landscape improvement and a new clubhouse. “The group that previously owned Haven planned to convert it to condominiums, and had improved half the units,” explains Karl P. Coleman, president with Interwest. View article…
Habit Burger Grill to open new Phoenix restaurant The Habit Burger Grill, a privately owned, Santa Barbara, Calif.-based hamburger chain, plans to open its fourth Arizona location in Phoenix on June 20. The new restaurant will be located at McDowell Road and 7th Avenue. View article…
Chaparral Business Center adds tenants Salt River Devco has announced two major tenants for the Chaparral Business Center northwest of Loop 101 and Chaparral Road. Nextiva Inc., which offers business communications services, has leased 25,883 square feet in the office complex. Regenesis Biomedical Inc., a privately held medical technology company, has leased 26,455 square feet. 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. View article…
Scottsdale’s economic picture brightens as unemployment drops to 5.9% Scottsdale’s economy is showing signs of improvement after big job losses over the past few years. The city’s unemployment rate in March of 5.9 percent is down a full point from a year ago and the number of jobs is higher than it has been since December 2009, according to the latest figures from the U.S. Bureau of Labor Statistics. View article…
Arizona Cardinals, Glendale continue NFL parking fight The Arizona Cardinals continue to claim the city of Glendale has violated a parking contract to provide the team with 6,000 parking spots each National Football League season. Cardinals spokesman Mark Dalton said the contract calls for Glendale to notify the team and the owner of University of Phoenix Stadium, the Arizona Sports and Tourism Authority, of changes to parking arrangement 90 days before the start of the NFL preseason. The first Cardinals preseason home game is Aug. 17. View article…
Congress Raises Concern About Lease Accounting Proposal On May 17, 2012, Reps. Sherman (D-CA) and Campbell (R-CA) sent a bipartisan letter signed by 58 other lawmakers to the Financial Accounting Standards Board (FASB) and International Accounting Standards Board (IASB), urging the accounting standard setters to conduct a comprehensive economic analysis of its recent lease accounting proposal before making a final rule. View article…
Zillow: Home Values See Highest Monthly Increase Since 2006 Zillow issued a released Friday reporting that both national home values and rents rose in the month of April. According to the April Zillow Real Estate Market Reports, national home values rose 0.7 percent in April to a Zillow Home Value Index of $147,300. This is the largest monthly increase in home values since January 2006, and it makes April the second month in a row in which home values climbed up. 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.