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The Dealmaker: 1/17/2017

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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.
Phoenix real estate giant Vereit Inc. returning to normal. What set “Arizona’s most valuable public real estate corporation” on the road to recovery? Republic business reporter Russ Wiles looks at how “Vereit’s new leadership… focused on four key paths: Broader portfolio diversification… Cole Capital… [D]ebt reduction…  Sustainable dividend[s].” Click through for details on the turnaround, plus find out what “could pose a headwind for Vereit and REITs in general.” —> http://bit.ly/2jkNFWn

NO BULL – Five-year vacant Phoenix space to be used in a variety of new ways. “After unanimous support the city has offered $529,600 in credit if [the ‘former downtown restaurant,’ Matador] spends approximately $2.5 million in improvements. [The new operation] would also have to pay more than $700,000 in rent over a ten year span.” So what exactly are the plans for the former Matador restaurant? Plans which All About Arizona News says “could inspire… growth to reach around [its] fairly isolated… location”? Find out here: http://bit.ly/2k1sewF

Scottsdale community trades for $51M. Multi-Housing News: “San Diego-based real estate investor and operator MG Properties Group… has acquired Scottsdale Horizon Apartments… Located at 9259 E. Raintree Drive, the 330-unit apartment community completed in 1986… was sold by Alliance Residential Co.” Get a poolside perspective, amenity details, and more info about the deal, here: http://bit.ly/2k1y698 

Glendale council talks legislative priorities. “[Preserving] the residential rental tax…. Restor[ing] the Highway User Revenue Fund…  Ensur[ing] the 911 public safety network is not comprised and able to function as it should… [Repealing] Senate Bill 1487, [a] law that financially punishes cities that violate state law.” These are among the “priorities that will guide [Glendale’s] lobbying efforts in 2017.” Details in YourWestValley. http://bit.ly/2iDNof9

Glendale wants its sports money. Councilwoman Joyce Clark to the Arizona Sports and Tourism Authority: SHOW ME THE MONEY! — “for [what] the city is owed for building [’the spring training home for the Chicago White Sox and Los Angeles Dodgers’] and for future state reimbursements… for hosting… sporting events such as the Super Bowl.” According to Councilwoman Clark, if Glendale fails to “pursue” this, then “[it] may not ever see the funding.” Find out why, in YourWestValley. http://bit.ly/2jtbjTf

UMA? – Future university plan unveiled by Yuma. “A decade or so from now, Yuma could have its very own four-year university in the heart of the city — encompassing a 50-acre area in the Old Town South neighborhood just south of downtown.” However, according to this report, “a lot of work has to be done in order to turn that vision into reality.” Find what’s involved and view aerials of the plan at AZBEX. http://bit.ly/2jt7Jsi 

Square footage shrinks in response to first-time homebuyer. “The average home built in 2016 was 2,634 square feet, smaller than homes built the year prior…” RIS Media has more on the downsizing and whether it’s expected to continue. Plus, check out what features “are in-demand by both first-time homebuyers and other generations of buyers,” according to “NAHB’s recent Home Builder Preferences Survey.” http://bit.ly/2iKHZWU

Get ready to love where you work: Rose Law Group is hiring a Commercial Litigator – http://bit.ly/2hRxUZH
Because you are an informed person, as a supplement to the Dealmaker, we are providing you 3 (sometimes more/less) non-real estate related articles we thought you might enjoy!
Newsmaker BONUS: Rose Law Group Senior Reporter brought unique radio station to Casa Grande. This don’t-miss piece from Pinal Central’s Bill Coates looks at reporter Phil Riske’s radio career — a career that took Phil from a Laramie, Wyoming station in the late 60’s, to Casa Grande’s KSAA in the late 70’s where he worked with a “cast of characters [‘not unlike’] the crew on the TV sitcom ‘WKRP in Cincinnati.’” As someone  here at Dealmaker HQ remarked after reading: “What a story. What a life!” Check it out along with the disco-era photos… they’re a hoot! —> http://bit.ly/2jtfoXH

New ASU center to research future of transportation. AZ Business Magazine. “[The university] has been named the lead institution for a new U.S. Department of Transportation Tier 1 University Transportation Center that plans to focus on improving regional travel demand forecasting…. ASU is one of 20 Tier 1 centers awarded around the country. The school was picked from more than 200 proposals.” http://bit.ly/2jkPJ0z

MEMBERSHIP DUES AND DON’TS – Flagstaff withdraws membership in chamber after political activities. “City Manager Josh Copley sent the [Chamber of Commerce] a letter stating… ‘After careful consideration, I have determined that the use of public funds to continue to pay for the city’s membership in the Chamber is inappropriate… and possibly constitutes a violation of [A.R.S.] 9-500.14…’” For specifics on what this statute prohibits along with more on the city’s withdrawal, click to Arizona Daily Sun.http://bit.ly/2j5AvM4 

New election cyberprotections cause confusion and concern. “Amid ongoing investigations into how Russia may have used cyberhacking to influence the 2016 presidential election…” Governing looks at “[DHS’s]… decision… to add elections systems to the list [of ‘critical infrastructure’]” and why it “has caused confusion and concern among the state and local officials who handle U.S. elections.” http://bit.ly/2j5KqRZ

Supreme Court to decide whether employers can prohibit groups of workers from suing, and other cases. “[Can] employers… prohibit groups of workers from suing over labor disputes by requiring each employee to submit individual claims through private arbitration”? “[Does] a five-year statute of limitations in federal law [apply] to SEC orders that require financial firms and individuals to ‘disgorge’… ill-gotten gains such as salary or stock”? Details on these and other upcoming SCOTUS cases, in The Wall Street Journal. http://bit.ly/2iDMM9E

Westland Properties Group closes developed custom lot transaction Read more

Trend Spotter Kim Lear to Keynote ULI Arizona’s 2017 Trends Day Focused on ‘Adapt.Disrupt.Create’ Read more

Sophisticated, Smart, Scenic: Innovative Carefree Community Attracting Untapped Market Read more
Rose Law Group Reporter, which provides Dealmaker’s content and service, is contracted by Rose Law Group.  Rose Law Group is a full service real estate and business Law Firm practicing in the areas of land use/entitlements, real estate transactions, real estate due diligence/project management, special districts, tax law, water law, business litigation, corporate formation, intellectual property, asset protection, ADA compliance, estate planning, family law, cyber-law, online reputation and defamation, lobbying, energy and renewable energy, tax credits/financing, employment law, Native American law, equine law, DUIs, and medical marijuana, among others.  The views expressed above are not necessarily those of Rose Law Group pc or its associates and are in no way legal advice. This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.

Belfiore Real Estate Consulting is Arizona’s leading housing market research firm.  The company couples its surveys of up to 350 new home subdivision sales personnel monthly with resale and public data, as well as the perspectives of leading development, homebuilding, lenders, brokerage, real estate law, contractors, and investors to report on and forecast residential housing market conditions.

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© 2024 Rose Law Group Reporter

Rose Law Group Reporter, which provides Dealmaker’s content and service, is contracted by Rose Law Group. Rose Law Group is a full service real estate and business Law Firm practicing in the areas of land use/entitlements, real estate transactions, real estate due diligence/project management, special districts, tax law, water law, business litigation, corporate formation, intellectual property, asset protection, data breach/privacy law, ADA compliance, estate planning, family law, cyber-law, online reputation and defamation, lobbying, energy and renewable energy, tax credits/financing, employment law, Native American law, equine law, DUIs, and medical marijuana, among others. The views expressed above are not necessarily those of Rose Law Group pc or its associates and are in no way legal advice. This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.