The Dealmaker: 4/12/2017

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The Dealmaker is a daily note of the day’s top real estate stories served just in time for lunch. Bon Appetit! Subscribe here to receive the Dealmaker to your inbox.





David Weekley Homes opens Greens neighborhood in Vistancia. “Greens at Blackstone features 58 home sites nestled around four holes of the award-winning Blackstone Country Club golf course, offering amazing views from every angle.” — AZRE. Click through for model, floor plan and starting price info, plus a Hopper-esque rendering (or is it a photo?) of one of the “amazing views”: A golf course sunset from a poolside vantage point.

Ecommerce facility planned for Tolleson. “Merit Partners plans to build a 320KSF ecommerce distribution facility as Building F on 21 acres of the Tolleson Corporate Park at 75th Avenue and Buckeye…” AZBEX has further details on the project, including a site-plan drawing and a tidbit on how the building’s height “reflects an ongoing trend in industrial development.”

Phoenix metro accounted for 8% of all suburban real estate deals in US. “Only Dallas (13 percent) accounted for more [net office leasing], with Phoenix tying Los Angeles for second. That is according to a new research report by CBRE.’” And what does CBRE say about “the market’s continued strength”? Find out at Phoenix Business Journal.

How transportation investment helped the East Valley flourish. AZRE’s Bayne Froney first looks in the rear view — at the “evolution of transportation in the PHX East Valley” — and then down the road, at how buses, light rail and other modes of transportation will “allow for more business and people” and continue to “help the economy thrive.”

Vacation home sales took a vacation last year. “Sales of vacation homes slumped nearly 22 percent in 2016 to the lowest level in three years, even as overall home sales hit their highest level in a decade….” NAR’s Lawrence Yun talks about why sales “tanked,” while another industry insider anticipates a first-quarter “Trump bump in sales,” in this report from CNBC.

Real estate industry: Opportunity or train wreck. “Unlike other industries such as music, travel and transportation, disruption has come in dribs and drabs… but many experts say change is crawling up the back of broker owners… [B]rokers are being hit from all sides by one threat after another…. 100 percent commission models… independent teams… indie brokers… expansion teams… Opendoor and virtual brokerages.” Brad Inman looks at the choices the industry has — “maybe too many” — in the face of this “gaggle of perils.”

Cameron’s $5M + deals of the day –

Best Kentucky Derby Party in Arizona, May 6th –

As a supplement to the Dealmaker, we thought you might enjoy these articles!

Lenders tighten the spigots on mall landlords. The retail malaise hasn’t stopped… landlords from getting loans — it’s just getting harder…. Lenders now grill landlords… about tenants’ creditworthiness and exposure to competition from neighboring developments and e-commerce. On top of that, borrowers may have to pay higher interest rates…” As one industry heavyweight notes in this WSJ report: “There is a sea change in attitudes over the last eight months… Everyone is more cautious.” General Jeff Sessions launches tougher border plan during Arizona stop. “Sessions outlined the series of changes… while touring the Arizona-Mexico border in Nogales…” KTAR’s report does not mention whether AG Sessions purchased any Chiclets while down there, but it does offer a bullet-point breakdown of his “more aggressive approach to immigration prosecution” which, the report says, is “starting immediately.”

New White House drug czar has quite an idea for where to put nonviolent drug users; could be hard on marijuana states. “Rep. Tom Marino (R-Pa.) will be President Trump’s drug czar, according to a report from CBS News. Marino’s congressional voting record is that of a hard-liner on marijuana issues, and he recently said that he’d like to put nonviolent drug offenders in some sort of ‘hospital-slash-prison.’” Read more about this half-baked idea from Rep. Marino in The Washington Post. 

Ducey vows no more school voucher expansion measures for now. “Gov. Doug Ducey Tuesday said lifting an enrollment cap that will be imposed as a school voucher program expands is ‘not even a consideration.’” KEY QUOTE from Ducey spokesman Daniel Scarpinato, on whether the governor is “committed to keeping the cap in place”: “You’re talking about a hypothetical in a hypothetical Legislature in a hypothetical future.” (Not quite Churchill’s “…riddle, wrapped in a mystery, inside an enigma,” or even Seinfeld’s “mystery wrapped in a Twinkie,” but it’s in the ballpark. A really, really HUGE ballpark.) More at Arizona Capitol Times.

WAR BONDS? – With Russia, N. Korea threats, mortgage rates hit new 2017 lows. “Bond markets… benefited… after headlines broke regarding North Korea’s nuclear threats… Russia’s potential involvement with Syrian gas attacks and the French election added to the… gains. As bonds gain ground, prices rise and rates move lower.” If the world hasn’t been blown to bits, tap to Mortgage News Daily for “Loan Originator Perspective,” “Best-Execution Rates” and “Ongoing Lock/Float Considerations.”

Blandford Homes purchases Mulberry Master Plan Parcel 5 Read more

Portland on the Park comes alive as new residents move-in Read more

Skanska Completing Work on New Dexcom Facility in Mesa Read more

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Cameron’s $5M + deals of the day

Cameron Carter, Director of Rose Law Group’s Transactional Real Estate Department, thinks you need to know about these transactions in Maricopa County. Price: $27MBuyer:  Tides on 19th Partners, LLC

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