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Daily News for Commercial Real Estate & Business – May 30, 2012

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

Market Trend: Phoenix’s Retail Vacancy Decreases to 12.1% The Phoenix retail market did not experience much change in market conditions in the first quarter 2012. The vacancy rate went from 12.2% in the previous quarter to 12.1% in the current quarter. Net absorption was positive 491,601 square feet, and vacant sublease space increased by 1,107 square feet. View article…

CHANDLER CORPORATE CENTER SELLS FOR $9.9M Chandler Corporate Center, a 70,573-square-foot office building in Chandler, has sold to Chandler HFP LLC for $9.9 million. The Chandler entity was formed by principals at Held Properties. This is the firm’s first Arizona-based acquisition. The two-story building is located at 585 North Juniper Dr. in Chandler. It is fully leased to three tenants, including Garmin International, STA Travel and MediServe. View article…

Phoenix supporting 4 project proposals in northeast Phoenix development officials have given preliminary approval to several site plans in northeast Phoenix, signaling the possible reignition of economic growth in the area. The site plans are for the following developments: Valley Desert Ridge Apartments, northeast corner of 56th Street and Deer Valley Road. The site plan is for the northern half of the two-phase project, which, when finished, will have more than 700 units. View article…

Maricopa County approves Phoenix housing project The Maricopa County Board of Supervisors has decided to spend $3.8 million in federal funds to purchase and rehabilitate a Phoenix complex to house veterans and low-income and formerly homeless residents. Catholic Charities Community Services, a non-profit, is in escrow for the Villa Tomas Apartments near 52nd Street and Thomas Road in Phoenix. After renovation, slated to begin this fall, there will be at least 46 studio, one-bedroom and two-bedroom units. View article…

Silverleaf developer perseveres after recession of ’08 Two coyotes are sunning themselves on the Silverleaf Club golf course on a recent morning as DMB President Charley Freericks looks on from inside the clubhouse. Breakfast guests are admiring the animals, and Freericks jokes that it is not going to be appetizing if a jackrabbit makes a run for it across the emerald fairway. View article…

Phoenix cracks top 10 for population growth It was a rough few years, but Phoenix is back in among the fastest growing metro areas in the U.S. At least for last year. Phoenix ranked No. 10 on a list recently released by the U.S. Census Bureau with population growth of 54,166 people between July 2010 and July 2011. View article…

Sprouts Farmers Market, Sunflower close merger, new Phoenix stores planned Sprouts Farmers Market and Sunflower Farmers Market have completed their proposed merger and three new Arizona stores are planned. Plans call for opening a new store in Ahwatukee in September and another in Phoenix and Flagstaff in early 2013. Each store will hire about 80 people. View article…

HOUSING:
Case-Shiller Index: Phoenix home prices up 6 percent New S&P/Case-Shiller home prices are out this morning and they show Phoenix with the best gains nationally for March. The home price index shows Phoenix with a 6.1 percent gain in March compared to March 2011 and a 2.2 percent increase from February 2012. View article…

Phoenix home foreclosure rate continues to decline The number of foreclosures throughout the Phoenix area and across Arizona continue to taper off this year and sit below the national average, according to the latest data released Tuesday by CoreLogic. View article…

Phoenix housing market still digging out of deep hole The good news is that Phoenix home prices were up 6.1 percent in March compared with March 2011, according to the new S&P/Case-Shiller Home Price Index. The bad news is that Phoenix prices are still off 53 percent from the housing market’s peak in May 2006, according to the same index. 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.