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Daily News for Commercial Real Estate & Business – May 31, 2012

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

To view this weeks Costar Watchlist, click here…

Canadian Buyer Pays $79M for Max at Kierland Less than four years after the 258,312-square-foot Max at Kierland came online, developers Clarion Partners of New York City and Trammell Crow Co. of Dallas sold the office building to Artis REIT. The Canadian buyer paid $79 million for the office building, which was 90% occupied at the time of sale. The six-story building at 16220 N. Scottsdale Rd. represented the first office partnership project between Trammell Crow and Clarion, and according to TCC senior managing director James Mahoney, the joint venture decided to put the office building on the sales block a year to 18 months before originally planned. View article…

West Valley mega church leases space in Scottsdale Christ’s Church of the Valley is expanding beyond the west side of town and leasing commercial space in Scottsdale. The 18,000-member evangelical church will offer services and other programs at its new North Scottsdale location. CCV is leasing two buildings off Pima Road near the Loop 101 freeway. View article…

It’s All in the Game Sports Center at Arrowhead opens in Peoria It’s All in the Game Sports Center at Arrowhead is now open as the place for baseball and softball enthusiasts. Or as one young visitor described it: “a baseball Disneyland.” The center, tucked down Paradise Lane near the Peoria Sports Complex, opened in April. View article…

Dignity Health plans $44 million Glendale hospital In an effort to expand into the West Valley, Dignity Health plans to develop a 35-acre medical campus in Glendale. An initial $44 million investment for the campus will include a 24-bed inpatient hospital with two operating rooms and space for diagnostic services. It will employ about 200 people. View article…

Tempe neighbors oppose plan for low-income units The Tempe City Council is expected to decide Thursday whether to allow an out-of-state developer to bypass height and density rules for a proposed low-income housing complex along the light-rail line. More than 100 residents from neighborhoods flanking the land oppose Gorman & Co.’s request to build Gracie’s Village, a four-story apartment that would replace the single-story Gracie’s Thrift Store on Apache Boulevard west of McClintock Drive. View article…

Phoenix light-rail plan would link Maryvale Residents of a central Phoenix neighborhood near the Capitol have backed a new Metro light-rail proposal that would extend the light rail from downtown Phoenix west to Maryvale at 79th Avenue and Interstate 10. The proposal calls for an 11-mile extension to start at Central Avenue, running west along Jefferson Street, north near 18th Street, west on Van Buren Street, and north on Interstate 17 to Interstate 10. The route would then run along Interstate 10 to 79th Avenue, the south side of the Maryvale area in west Phoenix. View article…

Phoenix 9th in natural population growth There were 59,738 births in the Phoenix metro area between July 1, 2010, and July 1, 2011, and there were 26,891 deaths, which puts the city’s natural population growth at 90 people per day, according to an On Numbers analysis of new estimates from the U.S. Census Bureau. Phoenix ranked 9th out of 366 U.S. metro areas in natural population growth. View article…

Phoenix unemployment rate hits lowest level since 2008 The Phoenix-area unemployment rate fell to 6.6 percent in April, the lowest level since October of 2008. New data from the U.S. Bureau of Labor Statistics show’s the Phoenix area’s unemployment rate fell from 7.5 percent in March to 6.6 percent in April. It was down from 8.2 percent in April of last year. View article…

HOUSING:
Local, national housing experts disagree on Phoenix market There have been mixed predictions on whether the metropolitan Phoenix real estate market is poised for a recovery or an even deeper market slump. While some local real estate experts believe the Phoenix market already is in the midst of a recovery, many national experts don’t agree. View article…

Phoenix sees large drop in foreclosure filings Phoenix saw a larger annual drop in foreclosure filings in April than any other major metropolitan area in the nation, according to a CoreLogic report released Wednesday. About 2.8 percent of all homes with a mortgage in the Phoenix area had a foreclosure filings in April, the report said. 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.