Last week, LGI Homes (NASDAQ: LGIH) became the first homebuilder listed on the NASDAQ stock exchange, unfortunately it was the same day as Twitter’s IPO. So, while all of the attention was on TWTR, LGI Homes went public in its shadow. LGI Homes rung the opening bell on the NASDAQ floor Thursday and the stock, with little attention paid, quietly gained over 17% on their first day of trading.

LGI Homes is one of the nation’s fastest growing homebuilders engaged in the design and construction of entry-level homes across Texas, Arizona, Florida and Georgia.  The company focuses on converting apartment renters and single-family home renters into homeowners, by offering quality homes at affordable prices in affordable locations and by utilizing a well-established sales and marketing approach, a culture of customer service excellence and a highly efficient construction process. Since commencing operations in 2003, it has constructed and sold over 5,500 quality homes.

LGI Homes, operating in one of the most depressed sectors, has consistently reported growth and profits. On November 9 the builder celebrated its grand opening of Caddis Haley in Tucson.

“We raised almost $90 million — that’s a lot of capital,” Eric Lipar, CEO, said. “We want to use it to grow the company. In our industry, development has become more capital intensive within the last few years. We have raised private equity over the years, and it works really well for buying distressed property and doing quick turnarounds, but in a more normal market, traditional financing and proceeds from an IPO work really well.”

The initial offering was priced at $11 per share and shares were trading over $13 per share in after hours trading Wednesday.

For more information about LGI Homes’ new home communities, visit www.lgihomes.com. Eric Lipar should be reached at (281) 210-2619.

CBRE has completed the sale of Mountain Vista Commerce Center located at 14647 S. 50^th St. in Phoenix, Ariz. The three-building, 134,713-square-foot industrial complex commanded a sale price of $11.36 million.

Dan Calihan, Pat Feeney, Joe Porter and Rusty Kennedy of CBRE’s Phoenix office negotiated on behalf of both the buyer and seller in the transaction. The buyer was Aspen Capital Partners of Greenwood Village, CO. The seller was BSP Mountain Vista LLC of Newport Beach, CA.

“This sale is a testament to the continued recovery of the industrial market in Phoenix,” said CBRE’s Calihan. “The Phoenix metro has become recognized as a mature industrial market and a large number of users are actively looking at available space across the Valley. This heightened activity coupled with the continued, steady absorption we’ve seen over the last several quarters make Phoenix a very attractive place for investors looking to buy industrial properties.”

Mountain Vista Commerce Center was last sold in 2010 as an REO sale when BSP Mountain Vista LLC purchased the property from Bank of America.

Built in 1999, the industrial complex is comprised of three buildings that can be operated as warehouse/distribution and/or flex spaces. The property was 93 percent leased at time of sale. There is currently 10,473 square feet of vacant, available space.

Mountain Vista Commerce Center sits on 10 acres along the I-10 freeway between the Chandler Road and Ray Road exits. It has excellent freeway access and features freeway-facing  signage.

Calihan, Feeney, Porter and Kennedy can be contacted in CBRE’s Phoenix office at (602) 735-5555.

Real Estate Daily News is sponsored by Stewart Title and Trust – The only title company named one of

“AMERICA’S MOST TRUSTWORTHY COMPANIES” in 2012 by Forbes®.

Contact Stewart Title & Trust of Tucson at (520) 327-7373 for your next closing.

The National Retail Federation (NRF) issued the following statement Friday from NRF President and CEO Matthew Shay and Chief Economist Jack Kleinhenz on the October retail jobs report:

“The latest jobs report, which came in stronger than anticipated, provides some positive indication that the economy and employment situation are steadily improving,” Shay said. “The timing couldn’t be better for retailers and consumers, who are busy preparing for the holiday shopping season.”

“It is now incumbent upon policymakers to address our pending fiscal and budgetary questions sooner rather than later. We cannot afford to repeat the same mistakes, which led us to a government shutdown and to the brink of default.”

NRF calculated retail industry job gains at 37,600 in October, and 295,000 year-over-year, a 2.4 percent increase over 2012. Job gains were seen in every retail sector with the exception of clothing and clothing stores, which witnessed a contraction of 12,500 positions in September.

In its annual holiday sales and employment forecast, NRF predicted that retailers would see a 3.9 percent increase in sales, and hire an additional 720,000 to 780,000 employees this holiday season.

“Today’s report puts the U.S. economy in a very positive light heading into the fall and winter seasons,” Kleinhenz said. “The government shutdown had little to no impact on the improving employment situation, which is steadily improving along with GDP. While retailers and businesses are hiring, consumers remain cautious, but we remain steadfast in our belief that consumer confidence and spending will improve.”

The Bureau of Labor Statistics Employment Situation report showed that the economy added 204,000 jobs in October. Unemployment was calculated at 7.3 percent.

As the world’s largest retail trade association and the voice of retail worldwide, NRF represents retailers of all types and sizes, including chain restaurants and industry partners, from the United States and more than 45 countries abroad. Retailers operate more than 3.6 million U.S. establishments that support one in four U.S. jobs – 42 million working Americans. Contributing $2.5 trillion to annual GDP, retail is a daily barometer for the nation’s economy. NRF’s Retail Means Jobs campaign emphasizes the economic importance of retail and encourages policymakers to support a Jobs, Innovation and Consumer Value Agenda aimed at boosting economic growth and job creation. www.nrf.com

Real Estate Daily News is sponsored by Stewart Title and Trust – The only title company named one of

“AMERICA’S MOST TRUSTWORTHY COMPANIES” in 2012 by Forbes®.

Contact Stewart Title & Trust of Tucson at (520) 327-7373 for your next closing.