Here are the news articles you might find interesting today for commercial real estate and business:
Washington, Jefferson corridor showing signs of growth If Washington, Jefferson and Van Buren streets between downtown and 44th Street aren’t typically on your radar screen, you might not know all of the activity taking place along that portion of the light rail corridor. There are a multitude of projects in the works dominated in large part by the $1.5 billion PHX Sky Train under construction at 44th and Washington streets. View article…
Central Phoenix Office Buildings list No. 5: Chase Tower This week’s edition of the Phoenix Business Journal, due out Friday, is ranking the largest Central Phoenix office buildings by rentable square feet. Fifth on the list was the Chase Tower. The building, represented by Kevin Calihan of CB Richard Ellis, comprises 723,000 rentable square feet. View article…
TCIM Services closing Arizona call center, cutting 122 jobs An international outsourcing and call center company is closing its Arizona operations center and cutting 122 workers. Wilmington, Del.-based TCIM Services Inc. is closing its call center in Tucson. View article…
Kindercare may lose its home near Paradise Valley Mall A long-established day-care center near Paradise Valley Mall could be threatened by the proposed sale of its building. The Sweetwater Park Kindercare, which is situated on the west side of the mall between the REI store and Costco, has been in business at the site, 12801 Paradise Village Parkway West, since 1980. View article…
Federal agency updates Phoenix-area flood maps Hundreds of property owners throughout the Valley are being told by federal officials they now live in a designated floodplain that could force them to purchase costly flood insurance. Parts of the West Valley, Chandler, Gilbert and Scottsdale are some of the most populated areas affected by new flood-insurance-rate maps of the Federal Emergency Management Agency, Maricopa County officials said. View article…
Many businesses pay little or no state income taxes A 15-year analysis of state tax records shows between two-thirds and three-quarters of businesses in Arizona pay little or now state corporate income taxes. That fiscal reality and continued business pushes for lower corporate rates increases the need to attract new businesses and jobs to the state since the existing tax base enjoys low payments. View article…
2 Banks Closed on Nov. 18 109 Institutions Have Failed so Far In 2011 Two banks were closed on Nov. 18 by state and federal banking regulators. These failures bring the year’s tally to 109 failed institutions. View article…
HOUSING:
Homebuilders downsizing plans Homebuilders in Chandler, Gilbert and Mesa are turning to “infill” development to spur new residential construction on smaller parcels in more-developed areas. During the housing boom of the 1990s and early 2000s, development spread quickly to the Valley’s outskirts, paving the way for large neighborhoods in sparsely populated areas. View article…
Existing-Home Sales Rise Unexpectedly in October Sales of previously owned homes got an unexpected boost last month while the number of homes on the market continued to decline, according to data released Monday by the National Association of Realtors (NAR). View article…
One Firm’s Unorthodox Play: Renting Single-Family REO Homes Redevelopment and rental professionals like the Chicago-based Mack Companies , which turns foreclosed homes into quality single-family rentals, are seeing significant growth – so much so that the federal government is looking at this sector of the housing industry for answers as to how to address the continuing high inventory of distressed properties. View article…
SAMPLE OPPORTUNITIES:
Bella Vista Retail Center – 10.5% Cap Rate! Investment, multi-tenant retail center. For a brochure, click here…
5051 & 5057 E Thomas Road – Former Dentist Office and Former Real Estate Office For Sale (CALL FOR OFFERS-DEADLINE 12/1/2011) For a brochure, click here…
Kokopelli Springs in St. David, AZ – Investment, 56 unit mobile home park. For a brochure, click here…
7320 N Dreamy Draw – Freestanding Office Building in Squaw Peak Corridor-great owner/user opportunity. For a brochure, click here…
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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