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

To view the January/February 2011 Affordable Housing Finance magazine, click here.

Phoenix's Top Industrial Sales for Q4 2010 The following is an account of the Phoenix market's top five industrial sale transactions for fourth quarter 2010. Sub-Zero, Inc. purchased 4295 N. Cotton Ln. in Goodyear for $12.5 million, or about $28 per square foot. View article...

China firm coming to Valley? Phoenix Mayor Phil Gordon said he is working with a Chinese company that is considering the Phoenix area for a project that could bring as many as 10,000 jobs. He said he couldn't disclose the name of the company or its industry because of a confidentiality agreement and for competitive reasons. View article...

J.C. Penney closing some stores; fate of Tempe outlet uncertain J.C. Penney Co. is getting rid of its catalog business and closing some stores, outlets and call center locations in an effort to streamline operations and boost profits. Penney plans to close six underperforming stores - none in Arizona - and two call center locations. View article...

Phoenix hotel occupancy up 7% in 2010 New data from Smith Travel Research show that Phoenix-area hotels drew more visitors in 2010 than in 2009, but that didn't add significantly to the bottom line. Among Smith's top 25 U.S. markets, the Phoenix area ranked 10th for occupancy increases in 2010, at 7.2 percent. For the month of December, Phoenix had the second-highest increase in occupancy gains from 2009, at 13.5 percent. View article...

National Association for Business Economics: 42% of firms plan more hiring The next six months should be a lot brighter for job seekers, a new survey finds. According to an industry survey released Monday by the National Association for Business Economics, 42 percent of responding firms indicated plans to boost employment in the coming months, up from 29 percent in January 2010 and from 39 percent in the fourth quarter. View article...

Arizona's middle class: Poverty casts longer shadow Gas prices hover near $3. Medical costs are on the rise, and child care can be expensive. And there's always an emergency home repair that just wasn't in the budget. It's hard to climb back to a middle-class lifestyle after a tumble into joblessness and poverty, as many Arizonans are finding. View article...

4Q (2010) in Review, a.k.a., Something for Everyone Regardless of your investment or operating quadrant-public or private real estate equity or debt-or property sector (multifamily, office, industrial, retail, or hospitality), 4Q 2010 turned out to be pretty okay. Read what Stephen R. Blank, ULI's Senior Resident Fellow, Finance, writes about REITs, CMBS, private real estate equity capital markets, and private debt real estate capital markets. View article...

Buying From Banks The good news for value-oriented buyers is that the volume of distressed property for sale is growing. Between the third quarters of 2009 and 2010, the percentage of sales in some type of distress rose for every property type, increasing by eight percentage points for offices and nine points for apartments, according to Real Capital Analytics. View article...

Commercial Property Prices Rise for Third Straight Month: Moody's Word on the street is that recovery is taking hold in the commercial real estate sector. Vacancy rates are starting to decline; delinquencies, although still elevated, are beginning to moderate; and property values are steadily increasing. 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.

Speak Your Mind

*

CommentLuv badge

footer script.