Daily News for Commercial Real Estate & Business – January 25, 2011

COLLIERS INTL. MANAGES $2.4 MILLION OFFICE & SHOWROOM TRANSACTION Colliers International–Greater Phoenix has completed the $2.4 million sale of the 32,327-square-foot Hacienda Plaza, an office and showroom property located within the Scottsdale Airpark at 15613 North Greenway-Hayden Loop in Scottsdale. Hacienda Lighting occupies approximately 60 percent of the building. View article...

Crescent Crown building HQ in Mesa Beverage distributor Crescent Crown will build a new corporate headquarters, distribution facility and repair shop on 23 acres it purchased at the northwest corner of West Broadway Road and South Brooks Drive in Mesa. View article...

St. Bernadette Parish to erect church building A Catholic parish in northeast Phoenix has announced plans to put up a new church building. The Rev. Peter Rossa, pastor of St. Bernadette Parish, on 60th Street south of Bell Road, hopes to have the structure ready for the church's 20th anniversary in 2015. View article...

Bills to block Glendale casino go to House, Senate for debate Two identical bills that could stop a proposed casino near Glendale passed out of their respective rules committees on Monday. The fast-track bills were scheduled to be debated on the floor of both chambers Tuesday afternoon. View article...

Pecos-center pitch to non-profits a tough sell Phoenix officials had hoped a non-profit group would move into four empty office cubicles at Pecos Community Center in exchange for a small payment toward the center's utility bills and other maintenance costs. View article...

Owners say another S. Scottsdale car wash will strain industry further The car-wash business in south Scottsdale has slowed to a drip, thanks to the still-sluggish economy, and the possibility of a new one has existing businesses bracing for even fewer customers. Coy Lindblom, co-owner of The Carwasher, has watched business dwindle at all of his locations, including the $4.00 Car Wash on Indian School Road west of Miller Road. View article...

Marijuana center seeks space Greenway University, the first state-approved and regulated medical marijuana university in the U.S., is planning a new Arizona campus. The school, which provides education in the medical marijuana industry, is seeking roughly 10,000 square feet of space in the Phoenix area for its facilities. View article...

Arizona No. 9 for December job growth Thirty-six states suffered short-term job losses between November and December, but Arizona was not among them, according to a report issued Tuesday morning by the U.S. Bureau of Labor Statistics. View article...

2011 Real Estate Investment Outlook: Optimism Abounds An improving economy combined with a thaw in the capital markets and limited new supply led to a big spike in investor confidence in the fourth quarter. That's the takeaway from an exclusive survey conducted jointly by NREI and Marcus & Millichap Real Estate Investment Services. View article...

CMBS Loan Payoffs Post Best Showing in Two Years Borrowers paid off more than half of the securitized commercial real estate loans reaching maturity in December 2010, marking the highest monthly payoff rate in two years, according to Trepp LLC. The uptick suggests that replacement financing is growing more accessible to borrowers. View article...

Watchdog Says Bank Bailouts Made 'Too-Big-to-Fail' Even Bigger The passing of the Dodd-Frank Reform Act last summer was hailed as the end of "too-big-to-fail" and the end of corporate bailouts. But Neil Barofsky, head of the group charged with overseeing the government's handling of the Troubled Asset Relief Program (TARP) says the "too-big-to-fail" problem has not been solved; in fact, it's gotten worse. And he warns that federal officials are leaving the door open for further bailout packages should another crisis strike. View article...

Buying Still More Affordable Than Renting in Most Cities: Report Data released Monday by real estate Web site Truila says even with the current state of the housing and financial market, it is still more affordable to buy a home than rent one. View article...

S&P Case-Shiller Index Points to Double-Dip in Home Prices The latest Case-Shiller figures released by Standard & Poor's (S&P) Tuesday signal home prices across the United States continue to weaken. View article...

If you want a copy of the latest foreclosure spreadsheet, email me and I will send it to you.

Feel free to contact me regarding any of these stories, the current market, distressed commercial real estate opportunities or your property.

Comments

  1. Nick, your information is very good. I enjoy keeping up on the activities in the Arizona market.
    Keep it up
    Thank you,
    John B. Quam
    720-490-8727

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