Daily News for Commercial Real Estate & Business – August 20, 2010

Cole Drops $30M for Home Depot Distribution Facility Cole Real Estate Investments has acquired The Home Depot's distribution center here for $30.4 million. The non-traded REIT purchased the 466,694 square-foot warehouse/distribution facility in an all-cash transaction from USAA Real Estate Co. View article...

HEDGE FUND POISED TO PURCHASE ENGLE HOMES ASSETS IN WESTERN REGION Pinal County/Maricopa County - Paulson & Co. Inc. in New York City, N.Y. (John Paulson, principal) figures to be the winning bidder at a auction that will decide the disposition of residential land owned by Engle Homes in Arizona, Colorado and Nevada. View article...

Brentwood Plans Two Buildings in Surprise Brentwood Industries Inc. purchased land in Surprise, AZ, from Desert Cove 8 LLC for $1.29 million, or about $152,500 per acre. The 8.5-acre parcel is located in the Desert Cove Commercial Park. View article...

Apartment Complex Sells for $7.9M in Phoenix Sendera Investment Group sold the 176-unit Sagewood apartment complex in Phoenix to H.M.G. Properties LLC for $7.9 million, or approximately $45,000 per unit. View article...

Mesa Walgreens Sells for $2.9M Investors Associated, a Wisconsin investor, purchased the Walgreens at 4420 E Brown Road in Mesa, AZ, for $2.94 million, or $212 per square foot. View article...

LA Fitness opens fourth Mesa Center L.A. Fitness has opened a 57,500-square-foot sports center in Mesa University and Stapley drives. View article...

Carson Solar Technologies moves into new digs Carson Solar Technologies has moved into new facilities, the result of growth in its business. Company officials said the former construction company has moved into a space in Tempe that is three times the size of its former offices. View article...

Electronic marketing firm moves into Scottsdale headquarters An electronic marketing firm that had been operating out of home offices now has its headquarters in downtown Scottsdale. View article...

City set to condemn land where pioneer museum is located Phoenix will begin condemnation proceedings against a private landowner that outbid the city at auction for property that is home to the Pioneer Arizona Living History Museum. View article...

Bounce Back: Multifamily Firms Emerge From Recession An Arizona court of equity has cleared the way for a 3,000-unit, seven-property apartment portfolio previously operated by the Bethany Group to be sold out of receivership, says Bill Hoffman, president and founder of San Diego, Calif.-based Trigild, the corporation that was appointed receiver of the properties last September. View article...

Airpark, south Scottsdale plans open for public comment Plans designed to guide development in south Scottsdale and in the area around Scottsdale Airpark will be open for public comment at Wednesday's meeting of the Scottsdale Planning Commission. View article...

Arizona projects health care to lead job growth Want a job in a booming industry? Look to health care. That's the message from the Arizona Department of Commerce. View article...

Arizona unemployment rate steady at 9.6% Arizona's unemployment rate remained flat at 9.6 percent in July. The Arizona Department of Commerce released the seasonally adjusted rate for total non-farm employment on Thursday. 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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