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Lee & Associates - Arizona | Week in Review | Friday, April 17, 2015

04/22/2015

LEE NEWS         

 

Fry’s-anchored Shopping Center in Mesa Sells for $3.5 Million Fry’s Vineyard Plaza Shopping Center, located at Baseline Road and Country Club Drive in Mesa was sold to Barclay Group for $3,460,000. Fry’s Food and Drug anchors the property but was not a part of the sale. PRLOG

 

Phoenix office vacancies stay above 20 percent The region’s office vacancy rate was 20.9 percent for the first quarter, according to Lee & Associates Commercial Real Estate Services. That translates into more than one in five offices in Maricopa County being vacant. PHOENIX BUSINESS JOURNAL

 

Irgens leases class A office building in Phoenix to Integra Irgens announced that Integra, one of the largest facilities-based providers of communication and networking services in the western United States, has leased the entire third floor of 5055 E. Washington St. in Phoenix. AZRE

Bifurcation in Two Forms The race is on for class A space.  So says R. Craig Coppola, CCIM, SIOR, CRE, founding principal of Lee & Associates’ Phoenix office. GLOBE ST.

 

LOCAL NEWS

 

Arizona businesses score big with 'Mexporting' Talk with Arizona economic developers and "Mexporting" – trade with Mexico – is one of the easiest opportunities to break into foreign trade. PHOENIX BUSINESS JOURNAL

 

Buildout Underway at Discovery Campus A five-story, 228-room hotel will be built on nearly six acres of the 136-acre Discovery Business Campus northwest of Loop 101 and Elliot Road, pending approval by Tempe. AZBEX

 

Phoenix apartment developer tops in US A Phoenix-based company had most apartment starts in the U.S. in 2014, according to a new ranking by an industry group. PHOENIX BUSINESS JOURNAL

 

 

NATIONAL & INTERNATIONAL NEWS

 

Decreased Valuations Pose Challenge for CMBS Refi This year marks the first of the oncoming “wave of CMBS maturities” for vintage 10-year loans originated from 2005 to 2007. More than $300 billion in loans are due to mature over the next three years, according to Trepp LLC, and nearly 30 percent of the maturing balance will come from loans backed by retail properties. NATIONAL RE INVESTOR

 

Why the Housing Market Is About to Perk Up While the economy may be struggling in certain areas — like shale oil communities, for instance — there are other areas that are prospering and growing. Homebuilders are one such area. FISCAL TIMES

 

GE To Shed $26.5 Billion in CRE Assets Seeking to refocus on its core industrial manufacturing business, GE said it will dispose of most GE Capital commercial real estate assets over the next 24 months. COSTAR

 

 

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04/17/2015 - 09:00

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