Daily News for Commercial Real Estate & Business – August 2, 2010

SONOMA LANDING TRADES FOR $20 MILLION IN GILBERT Kirkland, Wash.-based Sonoma Landing Apartments LLC has purchased Sonoma Landing, a multifamily property located at 4776 E. Guadalupe Road in Gilbert. View article...

CityNorth marches along under new ownership group Since July 1 when CityNorth's High Street was repossessed by a group of lenders led by Capmark Financial, little has changed at the troubled northeast Phoenix development. View article...

WEIDNER ADDS TO VALLEY APARTMENT PORTFOLIO . . . PICKS UP 952 UNITS FOR $71.2 MILLION Companies formed by Weidner Apartment Homes in Kirkland, Wash. (Dean Weidner, principal) paid $71.205 million to purchase three Valley apartment communities totaling 952 units. View article...

VALLEY LAW FIRM LEAVING CENTRAL CORRIDOR FOR CAMELBACK ESPLANADE The Phoenix law firm Warner Angle Hallam Jackson & Formanek PLC is relocating from Central Avenue in Phoenix to the Camelback Esplanade mixed-use project at the southeast corner of 24th Street and Camelback Road. View article...

State cancels northeast Phoenix land sale The Arizona State Land Department has canceled another land sale in northeast Phoenix. The department has not been able to sell much land in the area since 2007, mostly because of the recession, except for parcels included in the city's Sonoran Preserve. The canceled July 15 sale represents the second time the land was not sold. It originally was scheduled for sale May 26. View article...

Proposed resort/casino gets mixed reaction from Peoria Peoria Mayor Bob Barrett described the recent federal decision to approve the Tohono O'odham Nation's application to turn land near the city into a reservation as "fabulous good news," while several other city leaders had little or no comment. View article...

City of Phoenix seeking developer for new biomedical building The city of Phoenix is seeking a developer to build a new biomedical facility on the Phoenix Biomedical Campus. View article...

Phoenix relocation guide getting new owner Two relocation guides in Phoenix and Tucson are part of the assets of a Cincinnati-based publishing firm set to be sold. View article...

Back-to-school shoppers spending more Despite the recession, back-to-school shoppers are spending more this season, according to a consumer survey by Deloitte. View article...

Five Banks, Two Credit Unions Fail on July 30 Federal and state banking regulators closed five banks and one credit union on Friday, July 30, and another credit union was placed into conservatorship. 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.

Speak Your Mind

*

CommentLuv badge

footer script.