Office space available at 5717 E. Broadway Boulevard
Wednesday, August 31, 2011
Wednesday, August 24, 2011
Monday, August 22, 2011
INDUSTRIAL INSIGHT
National Logistics Market
The national logistics market totals about 3 billion square feet and represents 25 percent of total industrial space tracked by Grubb & Ellis. Over the past 10 years, logistics has emerged as the institutional industrial space with the lowest cap rates, highest new deliveries and greatest net absorption among all industrial subtypes. Since 2005, this sector accounted for nearly 60 percent of all completions and 55 percent of total demand. Since the recession, logistics’ market share improved. While the national industrial market still has 44 million square feet to absorb before the prior peak of total occupied square feet is reached, logistics is already 52 million square feet in the black. Total market share for new completions also rose, totaling 74 percent over the past four quarters. Second Quarter Highlights
• Vacancy declined 60 basis points to 11.8 percent
• Demand totaled 18 million square feet, 59 percent of total
• New supply totaled 2.3 million square feet, 68 percent of total
• Rents were up 0.7 percent year-to-date and down just 0.6 percent year-over-year, the lowest annual decline since the beginning of the recession
Source: Grubb & Ellis Research
NEW LISTING
For Sale - 6 Bay Self Serve Car Wash
8033 E. Escalante
Other Car Wash Properties Available:
Wednesday, August 17, 2011
Industrial Trends Report - Mid Year 2011
Market Stabilizes As The Return of Demand Still In Question
Read more in the Mid Year Industrial Trends Report:
Southern Arizona’s Sci-Tech Engine Gets Boost from UARC
Bob Davis • published in the July 2011 issue
Southern Arizona, with Tucson as its core, is an emerging dynamo of science discovery and technology-focused, especially bio- and solar-based, enterprise. But whether the region begins to takeoff as an entrepreneurial generator or to once again fizzle from overheated good intention is still to be decided. And so, the region is on the precipice of serious stagnation or exciting expansion.What could make the difference between regional success and failure are the current activities and outcome for the initiative with the current name University of Arizona Research Corporation (UARC). It’s important to note that UARC is not just another attempt to fix the evidence of UA’s technology transfer to entrepreneurial based, as opposed to institutionally based, projects. Entrepreneurial projects and small businesses are like having the proverbial One Thousand Flowers Bloom—more companies with more jobs and a better economy for the entire region.
Entrepreneurial business for this science-technology-innovation sector depends for its advance not just on new knowledge for its contribution to the emerging economies of the region. Such business is also dependent on companies servicing these enterprises—banking and lending, personal and casualty insurance, commercial and business real estate, intellectual property and general business legal, but also personal services that make our region a vibrant and enjoyable place to live.
Significantly, new supply chain services will undoubtedly emerge, such as those seen with the arrival in the region of the internationally positioned, bio-based and solar-industry companies. All of these will be influenced by the outcome of the UARC initiative.
The prospect of streamlining commercialization of science applications and technologies, especially in bio-based enterprise and those developed at and with the University of Arizona, has those focused on economic development and global innovation in the region very excited and hopeful. These outcomes of the UARC initiative are likely to accelerate knowledge-based enterprise with consequence for all in the region.
UARC has broad and deep support, with recommendations from a range of specialty experts and consultants. The regional community should soon have the information to judge about the UARC initiative’s potential to be presented by a broadly-based committee comprised of a team of UA, technology, and business leaders led by the UA’s Dr. Leslie Tolbert. The recommendations of that team are in final preparation to UA leadership for presentation to the Arizona Board of Regents for its approval.
Also in preparation is a survey of regional investment, finance, insurance, real estate, and legal service businesses and activity, which is likely to reveal telling indicators. Questions posed by this private sector-sponsored survey include: looks at angel, venture, and grant investment activity level s, currently and compared with other time periods; and the levels of activity in the preparation of patents, copyrights and other intellectual property. In commercial real estate we have seen new, incoming projects of significance as well as expansion- relocations of current users, with the attendant increase of business for funders and other service providers, such as building services.
http://trendreportaz.com/
Office Trends Report - Mid Year 2011
Is Recovery Around the Corner?
Read the Mid Year Office Trends Report:
Tuesday, August 16, 2011
Weekly Market Insight Update
C&I Loans For Large & Medium Borrowers
Bank credit conditions loosened moderately between April and July according to the Federal Reserve’s quarterly Senior Loan Officer Opinion Survey on Bank Lending Practices. Of the domestic banks responding to the survey, 21.8 percent loosened standards for commercial and industrial loans to large and medium firms during the survey period, i.e. general business loans to firms with annual sales of $50 million and up. Twenty percent of banks reported stronger demand from large creditworthy borrowers. Smaller borrowers did not fare quite as well in the survey with 7.8 percent of domestic banks loosening standards and just 5.8 percent of banks reporting an increase in loan demand from smaller firms. These results are in line with other surveys showing that small businesses have had a more difficult time rebounding from the recession. A separate question in the survey asked about supply and demand conditions for commercial real estate loans, and the results were moderately encouraging with 5.5 percent of domestic banks loosening standards and 21.8 percent reporting stronger demand from creditworthy borrowers. Overall, debt capital is available from banks at favorable terms for both general business and commercial real estate loans. Banks are competing for good credits, which explains why terms have become more favorable for borrowers who qualify.
Robert Bach
Senior Vice President, Chief Economist
Grubb & Ellis
Robert Bach
Senior Vice President, Chief Economist
Grubb & Ellis
Monday, August 15, 2011
New Listing
For Sale or Lease
Check out Tari's new listing at 6501 E. Grant Road available for sale or lease.
Thursday, August 11, 2011
Grubb & Ellis Completes Sale of Daymark Realty Advisors
SANTA ANA, Calif., Aug. 10, 2011
Grubb & Ellis Company today announced the sale of Daymark Realty Advisors, Inc., to a joint venture entity controlled by Sovereign Capital Management Group and Infinity Urban Century, an investment affiliate of The Infinity Group. Grubb & Ellis has exited the tenant-in-common business with the disposition of its wholly owned subsidiary.
"The sale of Daymark is extremely positive for our company. Daymark was noncore to our Real Estate Services and non-traded REIT businesses. This sale will allow us to focus on profitability and growth, while continuing to review our broader corporate strategic alternatives," said Thomas P. D'Arcy, president and chief executive officer of Grubb & Ellis.
"We are very pleased to have completed our acquisition of Daymark, which manages one of the most attractive portfolios of tenant-in-common properties in the U.S., and we plan to use our knowledge of the sector to enhance the company's competitive advantage and performance in the marketplace," said Etienne Locoh, managing partner of Infinity's Urban Century investment unit. "We believe that the investment acumen and capital markets relationships of Sovereign Capital and Infinity Urban Century will strengthen this platform with asset capital solutions and deep real estate management experience."
Grubb & Ellis entered the tenant-in-common business as part of the company's 2007 merger with NNN Realty Advisors, Inc. Daymark is one of the largest real estate asset management companies in the country, serving more than 5,200 clients and overseeing a nationwide portfolio of commercial property totaling approximately 33 million square feet, including more than 8,700 multifamily units.
The sale involved the purchase of Daymark stock by the joint venture entity. Additional terms of the transaction will be included in a Form 8-K to be filed with the Securities and Exchange Commission.
FBR Capital Markets & Co. served as financial advisor to Grubb & Ellis in connection with the transaction.
About Grubb & Ellis Company
Grubb & Ellis Company is one of the largest and most respected commercial real estate services and investment companies in the world. Our 5,200 professionals in more than 100 company-owned and affiliate offices draw from a unique platform of real estate services, practice groups and investment products to deliver comprehensive, integrated solutions to real estate owners, tenants and investors. The firm's transaction, management, consulting and investment services are supported by highly regarded proprietary market research and extensive local expertise. Through its investment management business, the company is a leading sponsor of real estate investment programs. For more information, visit www.grubb-ellis.com .
About FBR & Co.
FBR & Co. (FBR) provides investment banking, merger and acquisition advisory, institutional brokerage, and research services through its subsidiary FBR Capital Markets & Co. FBR focuses capital and financial expertise on the following industry sectors: consumer; diversified industrials; energy & natural resources; financial institutions; insurance; real estate; and technology, media & telecom. FBR Fund Advisers, Inc., a subsidiary of FBR, provides clients with a range of investment choices through The FBR Funds, a family of mutual funds. FBR is headquartered in the Washington, D.C. metropolitan area with offices throughout the United States and in London. For more information, please visit www.fbr.com .
About Daymark Realty Advisors
Daymark Realty Advisors, Inc. is one of the country's leading providers of strategic asset management and structured finance services to the tenant-in-common industry. Daymark provides a fully integrated platform of services that focus on maximizing property value and performance, and offers proven expertise in the repositioning of assets, debt restructuring and property recapitalizations. From six offices throughout the country, Daymark manages a nationwide portfolio of commercial real estate properties totaling approximately 33.3 million square feet, including more than 8,700 multifamily units, valued at $4.9 billion (based on purchase price). For more information regarding Daymark Realty Advisors, please visit www.DaymarkRealtyAdvisors.com .
About The Infinity Group and Sovereign Capital Management
The Infinity Group is a New York City based private equity investment company with significant interests in commercial real estate. The firm's property unit focuses on value-added asset repositioning and distressed real estate investments. Sovereign Capital Management Group, Inc. is a San Diego based real estate company with an established history of successful commercial property portfolio acquisition and management. Over the past ten years, Sovereign has assisted over 1,500 TIC and other retail investors with the restructuring of assets negatively impacted by economic changes. The two firms formed a strategic joint venture for the acquisition of Daymark Realty Advisors, Inc. For more information visit www.infinity-group.com and www.sovcap.com .
Forward-Looking Statements
Certain statements included in this press release may constitute forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause the company's actual results and events in future periods to be materially different from those anticipated, including risks and uncertainties related to the financial markets. Such factors which could adversely affect the company's ability to obtain these results include, among other things: (i) the general economic pressures on transaction values of sales and leasing transactions and businesses in general; (ii) a prolonged and pronounced recession in real estate markets and values; (iii) the unavailability of credit to finance real estate transactions in general; (iv) the success of current and new investment programs; (v) the success of new initiatives and investments; (vi) the inability to attain expected levels of revenue, performance, brand equity in general, and in the current macroeconomic and credit environment, in particular; (vii) the occurrence of a bankruptcy by the Met 10 tenant-in-common program or the demand for payments on certain non-recourse/carve-out guaranty and indemnification obligations issued by the company, which may, in turn, in the event such bankruptcy, or such guaranty or indemnification obligations cannot be met, result in a cross-default under the company's issued and outstanding Convertible Senior Notes; and (viii) other factors described in the company's annual report on Form 10-K for the fiscal year ending December 31, 2010, the Company's quarterly report on Form 10-Q for the quarter ended March 31, 2011 and in other Current Reports on Form 8-K filed by the company from time to time with the Securities and Exchange Commission. The company does not undertake any obligation to update forward-looking statements.
SOURCE Grubb & Ellis Company
Friday, August 5, 2011
The Recovery Marches On
The July employment data released this morning by the Bureau of Labor Statistics was better than the 90,000 expected and much better than the pessimistic forecasts by some analysts.·
· May and June payrolls were revised higher by a combined 56,000.
· Growth was broad-based, led by healthcare (+37,000), professional and business services (+34,000), retail trade (+26,000) and manufacturing (+24,000).
· Growth in retail employment means that retailers expect customers to keep walking through their doors, which will support the economy since consumer spending accounts for 70 percent of GDP.
· The gain in professional and business services suggests continuing momentum in the office market and the potential for the market to repeat its strong second-quarter performance when vacancy fell by a robust 40 basis points and absorption hit its highest level in nearly three years.
· The gain in manufacturing will support the industrial market, implying greater demand for properties required for the production and distribution of goods.
· The overall gain in employment means that more households will have the means to lease an apartment.
· Unemployment moved down a notch to 9.1 percent but for the wrong reasons as 193,000 people left the labor force and
the participation rate slipped to 63.9 percent. On the bright side, average hourly earnings jumped by 0.4 percent last month.
Employment isn’t where we would like it to be, and it will be a slow return to full employment. Nevertheless, today’s report from the BLS means that the U.S. recovery remains intact.
Have a great weekend.
Best regards,
Bob
Robert Bach
SVP, Chief Economist
Grubb & Ellis
Thursday, August 4, 2011
Team Davis, DiVito & Kong August Listings:
Click on link below to download the August listings of available industrial, office and land properties available for sale or lease:Zimmerman's August Available Properties:
Click on link below to download Ron's June's listings of available industrial, retail and land properties available for sale or lease:
https://grubb-ellis-tucson.sharefile.com/?cmd=d&id=9173a303a9794bfb
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