Here are the news articles you might find interesting today for commercial real estate and business:
To view this weeks Costar Watchlist, click here.
To view the State of the Retail Market Q2 report by Costar, click here. The tone of the information provided seems to elude that the worst is behind us and fundamentals are going to slowly improve.
EVIT spends $12 million to expand Health Sciences building East Valley Institute of Technology has spent $12 million to expand its main campus Health Sciences building by 75,000 square feet and it will launch an east Mesa campus this month. About one-third of EVIT's 3,000 high school students pursue health careers. The expanded building includes a mock ambulance bay, a clinic room for student massage therapists and additional nursing classrooms. View article...
Prop. 2 will decide QuikTrip's fate on 44th Street in Phoenix Phoenix voters will decide City Council and mayoral races on Aug. 30. Via Proposition 2, they will also decide the fate of a proposed QuikTrip gas station at 44th Street and Palm Lane. Prop. 2 pits Tulsa, Okla.-based QuikTrip Corp. against some neighbors opposed to the location, as well as the Glendale-based owners of a nearby Chevron station. View article...
Arizona's rising median age brings concerns, opportunity Aging baby boomers drove Arizona's median age up by 1.7 years over the last decade, to 35.9 years old in 2010, according to U.S. Census Bureau data. Compared to other states, Arizona is still relatively young. Its median age of 35.9 years was ninth-youngest in the nation in 2010, the Census said. But the shift of baby boomers into senior-citizen ranks has some experts wondering if society is prepared for the potential increase in social service costs it could bring. View article...
Why Investors Are Turning to Single-Tenant, Triple-Net Properties As the nation's commercial real estate markets continue to recover from the recent recession, primary markets like Washington, D.C. and New York City have attracted the lion's share of real estate capital due to their high barriers to entry, lack of new construction and transparent valuation levels. This popularity has come at a cost, however, as investors are bidding up prices on trophy assets, to pre-recession levels in many cases. Given the intense competition for multi-tenant assets in primary markets, many investors, including Cole Real Estate Investments, are instead purchasing single-tenant, triple-net-leased properties. In a triple-net lease, the tenant manages the property and pays for maintenance, insurance and taxes. View article...
Feel free to contact me regarding any of these stories, the current market, distressed commercial real estate opportunities or your property.
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