Wednesday, December 12, 2018

Real Estate Daily News Buzz – OCTOBER 4, 2013

The Dow Jones industrial average fell 136.66 points, or 0.9%, to 14,996.48. The Standard & Poor’s 500 index dropped 15.21 points, or 0.9%, to 1,678.66. The NASDAQ composite fell 40.68 points, or 1.1%, to 3,774.34. Not much out of the ordinary on this DAY THREE of the partial government...

Home Depot Center in Phoenix Sold for $11.76 Million

Cushman & Wakefield Negotiates Sale to San Diego Investor PHOENIX, Arizona – Cushman & Wakefield completed the sale of the 107,724-square-foot Home Depot at Hayden Plaza in Phoenix. Realty Income Properties of San Diego, Calif. purchased the property for $11.76 million ($109 PSF). Cushman & Wakefield Executive Managing Directors Ryan Schubert...

Q3 2016 Builder Positioning in Tucson

Lot inventories, or the lack thereof, could shake up sales leaders The Tucson housing market continued its upward momentum through the 3rd Quarter. While permits and house starts were below the stellar 2nd quarter numbers, they were still higher than any other quarter since the downturn. We are on pace...

Raytheon Tucson receives $87 million SM-3 Block IIA contract

US, Japan cooperative effort on track for 2018 deployment TUCSON, AZ -- The Missile Defense Agency awarded Raytheon Company (NYSE: RTN) $87 million to purchase long-lead materials needed to produce up to 17 Standard Missile-3 Block IIAs that will be used for testing and initial deployment. A follow-on contract for...

$20.5 Million Buys Tucson Value-Add Multifamily Asset

TUCSON, Arizona– Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI) announces the sale of River Oaks Apartments, a 300-unit apartment complex in Tucson, Arizona. The $20.5 million sales price equates to $68,333 per unit. Completed in 1982, River Oaks features a mix of studio, one-, and...

Cry ‘Havoc’ and Let Slip the Dogs of NIRP!

By: Thomas M. Brophy, Director of Research, ABI Multifamily Do Negative Interest Rates Abroad Impact Domestic Commercial Real Estate? In Arizona? In NIRP We Trust As I sit down to type this post much in the world of economics and markets has occurred; first, the Nation’s August jobs data was released. As...

SimonCRE Purchases Former Dirty Drummer Restaurant in Scottsdale

SCOTTSDALE, AZ – Commercial real estate developer SimonCRE purchased a +/- 3,170 SF freestanding retail building formerly known as the popular Dirty Drummer Restaurant and Bar. The building is located at 2730 N. Scottsdale Road near the intersection of Thomas Road & Scottsdale Road in Scottsdale, AZ. SimonCRE will begin...

TAR: June 2018 Tucson Housing Statistics Released

Tucson Association of Realtors’ residential sales statistics for the month were released Friday with little change showing from the month before. Below are some highlights from the June Residential Sales Statistics: Total Sales Volume of $412,805,427 is a decrease of 0.14% from May’s number of $413,401,140 but an increase...

The Shops at Valencia Tucson has Two Sites Sell for $3.7...

United Development and Christifulli Companies Complete two site sales at The Shops at Valencia TUCSON, ARIZONA – United Development Company of Southlake, Texas and Christifulli Companies of Phoenix, Arizona recently sold an IHOP at 1963 W Valencia and Risas Dental and Braces at 1979 W Valencia sites at their Shops...

5151 E. Broadway Announces Assistant Property Management Hire

Tucson, AZ – 5151 E. Broadway has announced a new Assistant Property Manager at Tucson’s largest commercial office building. Cheryl La Plant has been hired to assist property manager, Heide Foley at the iconic tower. Foley said, “Cheryl’s soft skills integrate perfectly into our team. She also has a strong...

October Unemployment: AZ and US drops 1/10 of a point

The seasonally adjusted October unemployment rate in Arizona decreased one-tenth of a percentage point from 6.9% in September to 6.8% in October. The U.S. seasonally adjusted October unemployment rate also decreased one-tenth of a percentage point from 5.9% in September to 5.8% in October. The U.S. Unemployment rates fell in 34...

National Pending Home Sales Inch Forward in December

WASHINGTON, DC — Pending home sales were mostly unchanged in December, but inched forward slightly, fueled by a large increase in the Northeast that outpaced declines in the other three major regions, according to the National Association of Realtors®. The Pending Home Sales Index,* a forward-looking indicator based on contract...
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