Here are the news articles you might find interesting today for commercial real estate and business:
More Activity in Bridges at Gilbert as Meritage Joins Builder Group with $13M Acquisition Meritage Homes purchased approximately 92.7 acres net or 110 acres gross at the Southwest corner Queen Creek & Recker Roads in Gilbert for $13,014,400. This price equals $140,392 per acre or $758 per front foot. The seller was a venture formed by JEN Partners and TerraWest Communities. The subject land is divided into parcels 2-1, 2-2 and a combination of parcels 2-3 and 2-4. The parcels are platted for 233 lots: View article…
Centrado Apartments Sold for $12.35m to Jevan Capital Centrado Apartments, a 180-unit complex located at 2045 E Broadway Road in Tempe was sold to Jason Buxbaum of Jevan Capital for $12.35m or $68,611.11 per door. Buxbaum paid $2.47m in cash for the property and secured $9.88m new debt with Northmarq Capital which matures October 1st, 2019 and which was assigned at origination to Freddie Mac. View article…
Roosevelt Point Continues to Rise, Leasing Office Soon to Open The buildings at Third Street along Roosevelt Row have been steadily rising within the Discovery Triangle since breaking ground in March. Now the project has a name reflecting its geographical and social place in the community: Roosevelt Point. In addition to the new name, Memphis-based EdR and Scottsdale-based Concord Eastridge are launching the public website for potential residents to find more information on the project: RooseveltPoint.com. View article…
Days Inn near Scottsdale Fashion Square going dark The Days Inn Scottsdale’s days and nights are numbered. The 44-year-old hotel north of Scottsdale Fashion Square is closing Dec. 1, said Debbie Coffelt, Days Inn general manager. Mall owner Macerich once again is weighing its options for redeveloping the hotel site, said Scott Nelson, a Macerich vice president of development. View article…
Gap, Nike, Banana Republic, others slated for new Tanger outlet mall in Glendale Some of the stores that are going to be located at the new Tanger Outlets mall in Glendale are coming to light. American Eagle Outfitters, Jockey, Polo Ralph Lauren, Aeropostale, Brooks Brothers, Nine West, Rue 21, Fossil, Gap, J. Crew, Nike, Banana Republic and Tommy Hilfiger are among the stores slated to open at the Glendale outlet mall. View article…
Arizona could lose 10,000 jobs from Medicare cuts Arizona could lose nearly 10,000 health care jobs next year if a 2 percent cut in Medicare spending is implemented to help reduce the national budget deficit. And that number could increase to 15,234 by 2021 if the Medicare cuts proposed in the Budget Control Act of 2011 begin to take effect in January, according to a national study conducted by Tripp Umbach. View article…
Phoenix retail sector down 21,000 jobs since 2007 Phoenix retailers are nowhere near recovering all of the jobs lost during the Great Recession. According to new research from On Numbers, the Phoenix area had 20,900 fewer retail jobs in July than it did five years earlier. View article…
HOUSING:
Phoenix-area rental homes a red-hot commodity Crowds of people swarming open houses. Multiple bids on properties from desperate home seekers. Palpable fear over losing the “right” place to a ravenous market. Sounds like a typical day in metro Phoenix’s housing market, where buyer demand exceeds the supply of homes for sale. 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.