Rio Nuevo Downtown Redevelopment and Revitalization’s District Board of Directors voted 4:1 at its July 15th meeting to schedule public interviews with Peach Properties HM, Inc. (Ron Schwabe, CEO) and Nor-Generations, LLC (Allan Norville, manager) the two submitted proposals for an 8.4 acre lot. The board needs to get this one right and is being cautious about picking the right developer for this key piece of land that is destined to become the western gateway to Downtown Tucson, currently referred to by many as “The Dead Zone”.
The days of “buy-to-hold” downtown are gone, the community wants results as they begin to see the growth trajectory of a Downtown district with some long overdue successes. As other western… Read more
PHOENIX – Colliers International in Greater Phoenix recently completed a sale/leaseback transaction for Arrowhead Health Centers’ location in Surprise for $1.9 million, ($309 PSF).
A buyer from Brooklyn, New York, purchased the property, 17061 N. Avenue of the Arts, suite 100, from Scottsdale Office Properties (formed by Arrowhead Health Centers).
Marc Bonilla, vice president of Colliers International’s Scottsdale office, served as the broker for the seller. Bonilla has sold every Arrowhead Health Centers clinic, transacting over $50 million during the last 10+ years.
Bonilla specializes in the sale of income-producing assets. He has extensive experience in the specialized niche of net lease investment programs including sale-leasebacks and triple net leased investment properties.
Marcus & Millichap represented the buyer. The building… Read more
WASHINGTON – The National Retail Federation lowered its retail sales forecast for 2014 because of slow growth recorded during the first half of the year, but said sales are expected to grow significantly faster over the next five months. NRF forecasted in January that retail sales would grow 4.1% in 2014 over 2013, but today’s revision lowers the forecast to 3.6%.
NRF calculated that sales grew 2.9% during the first half of the year and are expected to grow at least 3.9% during the second half. The numbers include general retail sales and non-store sales, and exclude automobiles, gasoline stations, and restaurants.
“No retailer was immune to the doldrums witnessed during the first quarter, and as a result, the year’s… Read more
WHEN: July 25 from 10 am-4 pm
WHERE: Tucson Association of REALTORS® at 2445 N. Tucson Blvd.
WHY: Cash donations leveraged 2:1 to buy school supplies
WIN!! JUST ADDED: All individuals who donate at least $10 will be entered to win 2 tickets to the fabulous Salsa & Tequila Challenge! Each ticket has a $125 value.
DROP BY: Help stuff “Buster,” our Piggy Bank mascot, with cash/checks to benefit Tucson Values Teachers. Donors will be provided tax-deductible receipts.
THANK YOU: Our valued sponsors/participants are: iMortgage; Bill’s Home Inspection Services; VIP Mortgage; Nova Home Loans; Bancapital Home Loans; Parties Plus; KLOVE 88.1-FM Radio;… Read more
Real Estate Daily News Buzz is designed to give news snippets to readers that our (yet to be award winning) editors thought you could use to start your day. They come from various business perspectives, real estate, government, the Fed, local news, and the stock markets to save you time. Here you will find the headlines and what the news buzz for the day will be.
Thursday, the Dow Jones industrial average edged down 2.83 points, or 0.02%, to close at 17,083.80. The Standard & Poor’s 500 index rose 0.97 of a point, or 0.05%, to 1,987.98. NASDAQ composite fell 1.59 points, or 0.04%, to 4,472.11.
Benchmark U.S. crude for September delivery dropped $1.05 to $102.07 a barrel on the… Read more