Here are the news articles you might find interesting today for commercial real estate and business:
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$50M NOTICE OF TRUSTEE SALE RECORDED ON GATEWAY CROSSING OF AVONDALE A Notice of Trustee Sale has been recorded on Gateway Crossing in Avondale, located at the northwest corner of Loop 101 & the I-10. The noticed portion of the retail power center totals 223,738 SF (per SEC docs) built in 2006 on 23.29 acres zoned PAD. Subject buildings include 7 free-standing pads and 165K SF of inline major/junior space. The center is anchored by Hobby Lobby, Best Buy and Old Navy. Gateway Crossing totals 26.16 acres on 10 lots; excluded from the notice are three lots: two vacant land parcels and one lot owned by City of Avondale. View article…
Scottsdale council approves permits for downtown beach club The Scottsdale City Council on Tuesday approved several permits for Triyar Entertainment’s beach club-anchored complex in the city’s downtown entertainment district. Scottsdale Retail Plaza is well under construction on most of the block that housed Myst nightclub on Shoeman Lane, and Suede restaurant and bar on Indian Plaza. The complex is set to open in the first quarter of 2013. View article…
P83 entertainment/hotel plan in Peoria closer to reality Peoria wants to create a vibrant entertainment district and boutique hotel unlike any in the West Valley by the time Super Bowl XLIX hits Glendale in three years and the Valley is deluged with visitors. The city has been working with developers for more than a year to expand 83rd Avenue’s restaurant row, which includes the city’s spring-training ballpark and a dinner theater. The city recently informally christened the area P83 and seeks to build buzz. View article…
U.S. jobs recovery could take four more years It might take another four years for the job market to recover from the recession and its lingering economic hangover. That’s according to Arizona State University Economist Lee McPheters, who says at the current rate of national job growth, we may not see the U.S. jobs picture get back to the pre-recession levels until 2016. View article…
This Summer’s Popular Moving Destinations To capture the city-to-city migration patterns in the U.S., United analyzed domestic moves during the peak moving season – between May 1 and Aug. 31 – when more than 30% of all domestic household goods moves take place. This included more than 44,900 interstate household moves managed by United. Although Washington, DC, Chicago and Atlanta top the list for highest inbound moves, these cities are also at the top of the outbound list. View article…
HOUSING:
More than 500,000 Arizona homeowners under water on mortgage Roughly 40 percent of all mortgaged homes in Arizona were under water during the second quarter of 2012, the third-highest negative equity rate in the nation, according to a report released Wednesday by CoreLogic Inc. In raw numbers, that translates to about 521,600 homeowners statewide being under water for the quarter out of roughly 1.31 million total mortgaged homes, the report said. View article…
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CURRENT FOR SALE OPPORTUNITIES:
Former SunTykes Property in Tempe Arizona (IN ESCROW) – Owner/User Opportunity. For more information, click here…
Freestanding Auto in Mesa, Arizona – Owner/User Opportunity. For more information, click here…
+/- 43,000 SF Leased Industrial Building in Southern Gardens – Single Tenant Investment opportunity. For more information, click here…
1 Industrial Condos in Bahia Business Park (UNIT 104-SOLD – 105 Still available) Owner/User opportunity to purchase 1 industrial condos. For more information, click here…
7320 N Dreamy Draw (IN ESCROW) – 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…
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.