Bob's Attempt at Blogging

Hello,

This is my first attempt at Blogging so please bear with me. First and foremost I want to say that leasing in Surprise is better than most parts of the valley. Retail is alive and well and landlords are now beginning to recognize the impact of the economy on lease rates. The retail picture here is large and growing each day. Look for new exciting developments to come on line over the next year or so. The largest is Prasada. The auto mall there is going vertical with Sands Chevrolet nearing completion. Five or six other auto dealers are close to beginning construction but the auto industry is in a world of hurt so that might delay starts. The Catholic Hospital should be following shortly. The Westcor mall is said to be about 2 years after the Goodyear Mall. That would indicate going vertical around 2011. Another large development slated for the south Surprise 303 area is Sycamore Farms.

Investors take heart. Deals under $20 million are able to get financing but be aware, cash is king as LTV's are running between 25-50+% down. Please let ne know if this type of information is useful or if you'd like to add something.

I serve on the City of Surprise's P&Z and we are down to one monthly meeting throughout the holiday season.