Commercial Real Estate & Business News – September 13, 2013

 

The buyer pool for hard assets in general is growing and the retail property sector is at the forefront of this growth. Historically, insurance companies, pension funds, state employee funds, life insurance companies, and publicly traded REITs were the main players in the investment landscape. However, that has changed. Investors want to purchase tangible assets... Read more
Plans to develop the southeastern corner of Pinnacle Peak and Scottsdale roads, former home of Rawhide Western town, have been filed with Scottsdale. Eisenberg Company plans a strip mall on 12 acres of the site, with Sprouts Farmers Market as the anchor. The development is the second set of plans for the 160-acre site to go to the city this summer... Read more
A limited partnership formed by Artis REIT in Winnipeg, Manitoba, Canada (TSX:AX.UN, Armin Martens, CEO) paid $38.6 million ($252.90 per foot) to buy a 152,629-square-foot office building at 6811 E. Mayo Boulevard in Phoenix. The seller was MG-Mayo Boulevard II LLC, a company formed by Miller Global Properties LLC in Denver, Colo. (Myron Miller, chairman)... Read more
In the months and years following the Great Recession, the metro region struggled economically. These days, the Phoenix area is pulling out of its economic slump - but mainly on the east side of Interstate 17 and Central Avenue, the area colloquially known as the "East Valley."... Read more
If you own commercial real estate as a partner, limited partner, member, or tenant-in-common, the odds are that neither your lender nor your servicer is the firm that lent you the money for your property. Many of the outstanding commercial real estate loans in the United States were pooled and then sold to investors as CMBS. Commercial real estate borrowers are sometimes surprised to discover... Read more

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