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Wow – Another Great Phoenix Commercial Deal

April 12, 2010

The Phoenix Business Journal has reported that the Chateau on Central, an unfinished MultiFamily Foreclosure, has sold to MSI West Investments LLC for $7 million. That is only $333,333 per unit which is a shockingly great deal considering that when construction first began in 2005 each of the 21 units of this Victorian brownstone were being sold [...]

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The Phoenix Camelback Corridor Is Being Leased

March 26, 2010

A major Arizona medical care management company, Health Advisory Services Group, has signed a ten year lease on a Phoenix area Commercial Property. Health Advisory has been in Arizona for about 30 years and plans on continuing its growth in the new Phoenix location. They have leased about 47,000 square feet of the three-story, 99,954 square [...]

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Phoenix MultiFamily REO Complex Sold

March 23, 2010

A Commercial Bank Owned MultiFamily apartment complex sold for $260,000 as a quick cash deal in Phoenix, AZ. Creative Commercial Investments, LLC purchased the Landing Pointe Apartments at 2417 W Campbell Ave in Phoenix from D. Brown, L.Brown and R. Randazzo of Pomona, CA. The complex was built in 1983 and is about 15,600 square-feet [...]

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By the Pound – The New Phoenix Commercial Buyer

March 19, 2010

Usually when investors buy a MultiFamily Property they buy based on the capitalization (cap) rate, internal rate of return, or cash on cash. Perhaps a more esoteric buyer will buy it based on a combination of internal rate of return, net present value calculation, and more rarely also the capital accumulation process. But now we [...]

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Phoenix Commercial Real Estate is on LinkedIn

March 16, 2010

The Brodeur Commercial Group is excited to announce that Phoenix Commercial Real Estate is now on LinkedIn, the world’s largest professional networking site. There are over thirty-eight million LinkedIn members in over 200 countries. Connect with us to see why we are the most qualified real estate team for your next Commercial Property Investment in the Phoenix, AZ area. By connecting with us on LinkedIn [...]

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Arizona Commercial Real Estate Updated Stats

March 12, 2010

Reports have recently been released stating that Commercial Real Estate Property mortgages were among the best-performing loans and leases held by banks and thrifts in the last three months of 2009. This report is according to The mortgage Bankers Association. The current reports state that commercial and industrial loans had delinquency rates of 4.39 percent [...]

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Phoenix Commercial Retail Center is Transitioning Ownership

March 5, 2010

The Metrocenter Mall, a Phoenix Commercial shopping center, is being transitioned out of Westcor’s ownership.  The 1.4 million-square-foot center has been slowly declining over the years due to the increased crime in the area.  Most shoppers are choosing to visit newer malls in other parts of Phoenix.  Westcor plans to give up their 15% ownership [...]

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Phoenix Commercial Real Estate Property Values are Down

March 4, 2010

Commercial real estate experts are stating that the property values of commercial buildings in the Phoenix area have depreciated by about half since the recession began in 2007.  Office, retail and industrial property owners have been hit the hardest due to falling rental rates and the increased number of vacancies over the past few years.  [...]

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Scottsdale Office Buildings Prepare for Foreclosure

February 24, 2010

Two commercial office buildings near Scottsdale Fashion Square are facing foreclosure.  The Camelback Tower and Camelback Executive Park are scheduled for a trustee sale on April 1, 2010.  Both of these properties are owned by International Captital Partners (ICP) and were originally planned to become part of the District at Camelback project.  Keeping you informed on all of the Phoenix [...]

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Scottsdale Galleria New Office Lease Deal

February 22, 2010

Yelp, the online search company, has leased 28,600 square-feet of the 442,132 square-foot Scottsdale Galleria Corporate Centre office building. This three story commercial property was originally built as a retail center in 1991 and renovations to turn it into an office complex were done in 2001. The online company plans to be in the new [...]

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Phoenix Commercial Properties are Going Green

February 18, 2010

Two large, privately owned Commercial Properties in Downtown Phoenix, Collier Center & Phoenix Plaza, have become the first multi-tenant existing buildings in Arizona to receive the U.S. Green Building Council’s consideration for LEED certification.  The LEED certification is the internationally recognized green building certification system.  Almost all of the current LEED certified buildings in Arizona are [...]

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Phoenix REO Commercial Property Sold

February 15, 2010

The Casa Real apartment complex in Phoenix, AZ was sold to Watermarke Properties for $5.6 million in a Bank Owned REO sale from First Regional Bank.  This 237,111 square foot apartment community consists of 256 units in twenty-nine buildings and was 50% occupied at the time of sale. Visit my website to view other available [...]

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Phoenix AZ Century Plaza Becomes One Lexington

February 12, 2010

As a follow up to my previous blog about Century Plaza, the sale has been completed and the building has been renamed.  The Century Plaza in Central Phoenix, has become One Lexington.  The name change took place after the building was purchased by investors as an REO from M&I Bank.  M&I acquired the building after [...]

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