Here are the news stories you might find interesting today:
GM Filing Affects Industrial Sector, Local Economies
A major part of bankrupt carmaker General Motors’ plans to fast track its reopening as a new, sleeker firm in 60 to 90 days are a number of real estate-related decisions that could have an effect on commercial the property industry, especially the industrial sector.
Orion Snags 178-Unit Partial Condo
PHOENIX-Less than four years after buying Citi on Camelback for conversion, Sunvest disposes of part of the asset for $12.4 million.
UniqueTek expands to Chandler site
|UniqueTek, a producer of specialty products for shooting sports, has moved to a new, larger office at 574 E. Alamo Drive in the Arizona Corporate Park in Chandler.
Existing home sales see monthly surge
|A national housing barometer shows existing home sales in April saw the largest monthly jump in eight years as buyers took advantage of low prices and record low mortgage interest rates.
Construction spending sinks
Construction spending sank to an annualized rate of $969 billion in April, 10.7 percent lower than the pace of construction a year ago, according to figures released Monday by the U.S. Census Bureau.
Balsillie files application for Phoenix Coyotes move to Ontario
An application to relocate the Phoenix Coyotes to Hamilton, Ontario, was filed Monday by Jim Balsillie, the only formal bidder so far to buy the fledgling franchise.
Coyotes actual attendance left Glendale arena a third empty
The Phoenix Coyotes hockey team relied on ticket giveaways to help boost attendance that averaged about 11,000 per game during the 2008-09 season when just filled seats for the 41 games are counted.
CItyNorth incentive battle heads to Arizona Supreme Court
The battle over CityNorth is headed to the Arizona Supreme Court.
Arizona awards transportation stimulus contracts
The Arizona State Transportation Board awarded construction projects funded by the American Recovery and Reinvestment Act to the following firms. More contracts are expected to be announced within the next two weeks.
Arizona comes in 38th among state for per capita Gross State Product
Arizona ranks 38th among U.S. states for per capita Gross State Product. The state ranked 35th on that measure in 2007 and 33rd in 2006, according to the U.S. Bureau of Economic Analysis.
Multifamily Mortgage Delinquencies Increase in Q1 2009
Washington, D.C.–The weakening economy and continued credit crunch led to increases in commercial/multifamily mortgage delinquencies during the first quarter of 2009, according to the latest Commercial/Multifamily Delinquency Report, released by the Mortgage Bankers Association (MBA).
For a FREE market evaluation of your property, contact me immediately!