I am going to be in Chicago for CCIM Business Meetings next week. So, won't have time to do the daily news. Will pick it back up when I get back!
Here are the news articles you might find interesting today for commercial real estate and business:
GEHAN HOMES BUYING LAND FOR SUBDIVISIONS . . . HAS 232 LOTS FOR FOUR SUBDIVISIONS Phoenix area - Gehan Homes of Dallas, Tex. (Tim Gehan, pres.), one of the Valley's newest home builders, is ramping up its operations and has acquired land for 232 residences in four subdivisions. In its most recent deal, Gehan Homes of Arizona LLC in Scottsdale (Mark Moskal, operations mgr.) paid $3.913 million to purchase 43 finished lots within the Palm Valley community in Goodyear. The seller was PV5&8 LLC, a company formed by Southwest Value Partners in San Diego, Calif. (Robert Sarver, Mark Schlossberg, partners). View article...
Gilbert's Agritopia farming community working to reinvent the strip mall idea Agritopia, an agriculturally-focused, multi-use community in Gilbert, is planning what's shaping to be its largest project since its establishment. Epicenter at Agritopia will be a food-based shopping center established over an estimated 25 acres that aims to showcase local farmers and retailers in an innovative way. View article...
Market Trend: Phoenix's Office Vacancy Decreases to 19.4% The Phoenix Office market ended the first quarter 2013 with a vacancy rate of 19.4%. The vacancy rate was down over the previous quarter, with net absorption totaling positive 152,689 square feet in the first quarter. That compares to positive 1,485,567 square feet in the fourth quarter 2012. Vacant sublease space decreased in the quarter, ending the quarter at 809,140 square feet. View article...
VELOCITY RETAIL's 1ST QUARTER 2013 RETAIL MARKET REPORT With the recent release of Velocity Retail's Research Solutions Team's 1st quarter 2013 retail quarterly numbers, Velocity Retail is excited to report positive improvements to the retail vacancy rate and leasing activity. View article...
American Realty Capital Properties withdraws offer to buy Cole After repeated unsolicited offers that had been twice rejected during a heated three-week takeover battle, American Realty Capital Properties Inc. (Nasdaq: ARCP) is throwing in the towel. View article...
Gov't Tries to Unload Excess Properties The General Services Administration (GSA) is trying to unload a surplus of government buildings across the country through auctions and, most recently, by working with private developers to negotiate land swaps. The land swaps "reduce the government's real estate portfolio while consolidating offices and saving money for taxpayers," The New York Times reports. View article...
SBA plans to spend less, make more loans and cut its fees The Small Business Lending & Investment Summit on Capitol Hill was a lovefest for the Small Business Administration, and for good reason: The SBA's budget proposal for 2014 gave everyone something to smile about. Taxpayers should be happy that the SBA is requesting less money for its budget next year. View article...
How Online Shopping Will Shape the Future of Retail In a recent report by Forrester Research, U.S. online retail sales are projected to reach $262 billion this year. The staggering number may be good news for online-only stores, but some industry insiders think the figures may prove ominous for those in the business of building and investing in retail sites. Others disagree and see the silver - or sheetrock-colored - lining. View article...
HOUSING:
RealtyTrac: Foreclosure Activity Falls to Lowest Level Since 2007 Despite a monthly uptick in foreclosure starts, first quarter foreclosure activity fell to a six-year low, according to RealtyTrac's foreclosure market report for the first quarter and March. View article...
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