Commercial Real Estate & Business News – August 1, 2013

 

It could be the best 48 hours ever for Valley development and commercial real estate: three projects and more than $1B in economic impact. In the past 48 hours plans were revealed for three major investment and construction projects in Metro Phoenix, including today's announcement of the $600M Marina Heights mixed-used development on Tempe Town Lake... Read more
Officials with USA Basketball, the national governing body responsible for choosing the U.S. Olympic teams, will announce Wednesday that they are relocating their headquarters to Tempe as part of an Arizona State University development project that includes a conference center and hotel... Read more
Step inside an Anytime Fitness gym and you'll likely notice more of what it lacks than what is there. No massive machinery, mobs of people, or grunting bodybuilders trying to outdo one another. You'll also take note of the club's particularly small size -- only 4,000-6,000 square feet, nearly eight times smaller than full service gyms...Read more
RealCapital Analytics' report for the first half of the year shows a dwindling amount of distressed assets on the books. Dan Fasulo with RCA tells GlobeSt.com that the Phoenix region has experienced $20.5 billion worth of distressed commercial property since 2008. To date, 62% of that distress ($12.7 billion) has been worked out through sale or recapitalization... Read more
The second quarter marked a noticeable improvement in the recovery trajectory of commercial markets. Based on the results of the July Commercial Real Estate Market Survey, commercial practitioners reported solid leasing activity and a double digit rise in sales volume. Nationally, 60 percent reported completing a sales transaction during the quarter... Read more

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