Daily News for Commercial Real Estate & Business – August 13, 2010

Home Depot Distribution Facility Sells for $30.5M Cole Real Estate Investments, a Phoenix-based REIT, purchased the industrial facility at 9081 W Washington St. in Tolleson, AZ, from USAA Real Estate Co. for $30.45 million, or about $65 per square foot. View article...

Geico to hire 80 in Tucson Geico will hire at least 80 new associates at its Tucson office through the year as business grows for the auto insurance company. View article...

Goodwill stores expand in East Valley On a recent Wednesday, Marcia Hanson was thumbing through a rack of blazers at a newly relocated Goodwill center in east Mesa, shopping for back-to-school clothes. View article...

Bonfire Grill and Bar to open in Old Town Scottsdale A sculpture rising more than 20 feet will mark the arrival in October of a restaurant inside the building that used to house Furio, the trend-setting Old Town Scottsdale restaurant and bar. View article...

Apache Junction Fry's celebrates major remodeling project The Apache Junction Fry's Supermarket at 185 W. Apache Trail never closed, but a company spokeswoman conceded that its renovation in recent months has created its share of hassles for customers. View article...

Scottsdale puts halt to planned luxury apartment complex The Scottsdale Planning Commission on Wednesday put the brakes on a proposed luxury apartment complex just east of Scottsdale Fashion Square that numerous residents said was moving too swiftly through the city's approval process. View article...

Report shows foreclosures up again A monthly report shows the number of foreclosed homes in the Phoenix area edged up again last month, hitting the highest percentage of total sales since January. View article...

Foreclosure numbers fall, but AZ still No. 2 Arizona foreclosure activity decreased year-over-year for the sixth straight month in July, but the state has the second highest foreclosure rate with one in every 167 homes currently impacted by foreclosure proceedings, RealtyTrac reported Thursday. View article...

Mortgage rates hit another record low Long-term mortgage rates continue to fall, with both 30-year and 15-year fixed rate mortgages at new record lows again this week. View article...

If you want a copy of the latest foreclosure spreadsheet, email me and I will send it to you.

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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