Daily News for Commercial Real Estate & Business – April 26, 2011

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

Phoenix's Select Top Industrial Sales for Q1 2011 The following is an account of the Phoenix market's select top five industrial sale transactions for first quarter 2011. Alliance Commercial Partners purchased 10 Chandler, a nine-building, 552,370-square-foot industrial park at 450-590 54th St. in Chandler, for $30,450,000, or about $55 per square foot. View article...

Phoenix's Select Top Industrial Leases for Q1 2011 The following is an account of the Phoenix market's select top 10 industrial lease transactions for first quarter 2011. Mach 1 Global Services, Inc. leased 262,080 square feet at 2950 S Litchfield Road in Goodyear. View article...

Sprouts Renews, Expands at Paradise Village Sprouts, a national chain of markets, signed a 32,306 square foot lease renewal and expansion at Paradise Village Office Park at 11811 North Tatum Blvd. in Phoenix, AZ. The lease renewal and expansion comes on the heels of the recent merger announcement of Sprouts and Henry's Farmers Market. The corporate headquarters will be run out of the Sprouts offices at Paradise Village Office Park. View article...

Scottsdale-based Realty Executives Inc. in lease dispute Scottsdale-based Realty Executives Inc. has not made a lease payment on its Pinnacle Peak branch office building since October, according to a landlord complaint filed recently in Maricopa County Superior Court. The company, one of Arizona's largest residential real-estate agencies, recently vacated the property without notice, a violation of its lease agreement, according to the lawsuit, filed by building owner Saypo Cattle Co. View article...

Beans distributor chooses Glendale as base The largest U.S. distributor of peruano beans has chosen Glendale as the new headquarters for its distribution center. Multi-Enterprise Inc. will begin doing business at 6632 W. Myrtle Ave. near Glendale's Centerline District by midsummer. The 45,000-square-foot building is one of the city's largest remaining industrial buildings and is equal in size to about three corner drugstores. View article...

First SE Valley SwapSmart replacing grocery store Two young entrepreneurs are turning a vacant Chandler grocery store into their fourth Valley SwapSmart - an indoor weekend marketplace that caters to small startup retailers. Randall Gossman, 34, and Wayne Pearson, 31, say they're planning to open in June at the former Food 4 Less at Arizona Avenue and Warner Road. View article...

Phoenix building apartments for grandparents raising young children A neighborhood crime hot spot in south Phoenix will be torn down to make way for a unique housing product that will be called Grandfamilies Place of Phoenix. Construction should begin in August for the new apartments that will cater to adults who are raising their grandchildren. View article...

Blue Sky proposal to go before Scottsdale council again The Scottsdale City Council is again set to consider Gray Development Group's Blue Sky apartment complex, to be built east of Scottsdale Fashion Square. The proposal now asks for amended development standards on 3.1 acres with the rest of the acreage remaining under existing standards. Other items up for consideration Tuesday include rezoning requests for a 33-lot residential neighborhood and requests for increased building height at the Pinnacle in the Perimeter. View article...

Arizona ranks 48th in job growth Arizona ranks 48th in new job numbers released by the U.S. Bureau of Labor Statistics among all 50 states and the District of Columbia. The state had just a 0.07 percent growth rate in nonfarm jobs between March 2010 and the same month this year, ranking it 48th. In raw numbers, Arizona added 1,700 jobs, good for 45th in the nation. View article...

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

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