Here are the news articles you might find interesting today for commercial real estate and business:

Chandler Industrial Sells for $3.2M  Infinity Trading and Solutions acquired the industrial building at 450 E. Elliot Rd. in Chandler, AZ from Wells Fargo Bank for $3.22 million, just about $55 per square foot, in an REO sale.  The 58,559-square-foot manufacturing building was constructed in 2008 and sits on 4.23 acres. The property was 100 percent vacant at the time of sale.  View article…

Construction begins on Tanger outlet mall in Glendale  Construction is now under way on a new Tanger outlet mall slated for Glendale.  Set to open this fall, Tanger Outlet Center Westgate will be a 328,000-square-foot outlet mall with 85 stores. Names of the retailers to occupy the project have not yet been announced.  View article…

Feds identify 237,100 acres in Arizona for renewable energy projects  The Bureau of Land Management has recommended 237,100 acres of public land in Arizona are suitable for renewable energy development, part of an effort to speed up the process for clean-energy companies looking to set up shop in the state.  View article…

Pressure building over Fiesta Village  A Mesa city councilman is asking his constituents to turn up the heat on the owners of the defunct Fiesta Village shopping center.  Meanwhile, the city already is doing that.  Mesa filed a code-compliance case — at least the 13th in the last nine years — against W.M. Grace Development Co. a month ago.  View article…

Grubb & Ellis files for bankruptcy, sells assets to BGC Partners  Commercial real estate advisory firm Grubb & Ellis Co. on Monday filed for Chapter 11 bankruptcy protection.  Grubb & Ellis has agreed to sell almost all of its assets to BGC Partners Inc. (Nasdaq: BGCP), according to a news release from the company.  View article…

Phoenix leads nation in construction job losses The Phoenix metro area has lost the most construction jobs of all metro areas — some 93,000 — since the industry was at its peak in December 2006, according to the Associated General Contractors    of America. Construction employment remains below peak levels in 329 out of 337 metro areas, recent analysis shows.  View article…

Closure of Navajo Generating Station could cost Arizona $18B  Closing the Navajo Generating Station in northeastern Arizona could cost the state $18 billion or more, should the power plant’s owners be unable to work out a deal with the Navajo Nation, according to a study released Tuesday.  View article…

HOUSING:
Low-income housing near Metrocenter gets update  Collins Court, an affordable housing project that replaces Royal Suites, is scheduled for a ribbon-cutting this spring near Metrocenter mall.  Arizona Housing Inc. bought the 80-unit Royal Suites complex in 2010 to house low-income residents. Arizona Housing used money it borrowed from Phoenix to purchase and renovate the property at 10421 N. 33rd Ave. View article…

Chandler blight program razed 3 more houses downtown  Three more vacant, deteriorating downtown Chandler houses have been torn down under a city blight-reduction program that shares the demolition cost with owners.  All three were owned by real-estate broker Rudy Granado, 53, a Chandler resident and Arizona native who said his father’s family came to Gilbert from Mexico in 1925.  View article…

Arizona home development’s course changes with downturn On the western edge of metro Phoenix, nearly 2,000 homes surround a small downtown. Spanish- and Craftsman-style houses line the quiet side streets, their front porches facing out to greet visitors.  Approaching from the Interstate 10 freeway, there’s a view of the golf course with the White Tank Mountains in the background.  View article…

SAMPLE OPPORTUNITIES:
Bella Vista Retail Center – (BACK ON MARKET) Investment, multi-tenant retail center.  For a brochure, click here…

5051 & 5057 E Thomas Road – Former Dentist Office and Former Real Estate Office  For Sale.   For a brochure, click here…

Kokopelli Springs in St. David, AZ – Investment, 56 unit mobile home park.  For a brochure, click here…

7320 N Dreamy Draw – Freestanding Office Building in Squaw Peak Corridor-great owner/user opportunity.  For a brochure, click here…

2 Acres of Land – (NEW LISTING) Owner/User opportunity to purchase 2 acres of land off of I-10 & 40th Street.  For a brochure, click here…

Feel free to contact me regarding any of these stories, the current market, distressed commercial real estate opportunities or your property.   

Here are the news articles you might find interesting today for commercial real estate and business:

Tilted Kilt will open Monday near Paradise Valley Mall  Northeast Phoenix residents near Paradise Valley Mall will have a new place to watch their favorite teams compete.  A new Tilted Kilt is opening Monday at 4731 E. Cactus Road. Kerry Phelps, one of three owners, said he hired nearly 100 people for the new restaurant, near an Outback Steakhouse and other eateries.  View article…

Arizona high court to hear Mesa tattoo parlor case  The Arizona Supreme Court will take up a Mesa tattoo parlor case.  The court will hear oral arguments March 27 in the case in which a lower court ruled that cities can no longer use long-established regulations to block where certain types of businesses can locate.  View article…

Phoenix, CityNorth in stalemate over contract  No progress has been made in Phoenix’s attempts to repeal its contract with CityNorth despite efforts that began last August.  In October, when the City Council finally got around to making a formal request of city staff to look into the 11-year, $97.4 million deal, letters were exchanged between the city’s Law Department and an attorney representing Northeast Phoenix Partners, the Klutznick Co.-affiliated entity that controls the property.  View article…

Arizona’s December retail sales surged  Arizona retail sales reached $5.16 billion in December — the first time in four years that they hit or surpassed the $5 billion mark in that month.  The latest numbers from the Arizona Department of Revenue indicate that December retail sales have finally returned to their pre-recession levels and also to numbers that were more typical before the boom of the mid-2000s.  View article…

Financial firms are hiring  Financial companies are hiring again, and it’s no wonder because fewer banks are closing, the stock market is rising, credit-card use has turned upward and insurers are seeing steady demand.  Longer term, the sector has bright prospects, too. American companies are global financial leaders, and many products and services will remain in demand, especially as Baby Boomers get serious about retiring.  View article…

SAMPLE OPPORTUNITIES:
Bella Vista Retail Center – (BACK ON MARKET) Investment, multi-tenant retail center.  For a brochure, click here…

5051 & 5057 E Thomas Road – Former Dentist Office and Former Real Estate Office  For Sale.   For a brochure, click here…

Kokopelli Springs in St. David, AZ – Investment, 56 unit mobile home park.  For a brochure, click here…

7320 N Dreamy Draw – Freestanding Office Building in Squaw Peak Corridor-great owner/user opportunity.  For a brochure, click here…

2 Acres of Land – (NEW LISTING) Owner/User opportunity to purchase 2 acres of land off of I-10 & 40th Street.  For a brochure, click here…

Feel free to contact me regarding any of these stories, the current market, distressed commercial real estate opportunities or your property.