Daily News for Commercial Real Estate & Business – August 24, 2010

Health, education companies take 1.3M square feet in Glendale in fiscal 2009-10 Glendale has filled 1.3 million square feet of office space with health and education companies within the past fiscal year, bringing 1,042 new jobs to the city. View article...

Brentwood West pays $2M for North Scottsdale office building Brentwood West LLC, a Chandler investment company, paid $2 million for a Class B office property in North Scottsdale. View article...

Hamilton Zanze Enters Tucson with $47M MF Portfolio Hamilton Zanze & Co. has entered the local apartment market in a big way: the San Francisco-based firm purchased a seven-property, 1,566-unit portfolio for $46.5 million. View article...

Alanco Technologies to change name, move to New Jersey Alanco Technologies Inc. is planning to change its name and move its headquarters from Scottsdale to New Jersey. View article...

Court Approves $123M Sale of Bethany MF Portfolio The Arizona Superior Court ruled that a portfolio of seven apartment complexes in Arizona can be sold while in receivership. The 2,759-unit portfolio, which was purchased by The Bethany Group about five years ago, is now in escrow to Standard Portfolio, a real estate investment company, for $123 million. View article...

Abercrombie & Fitch to close 110 stores by 2011 Abercrombie & Fitch said it would close up to 110 stores over the next 18 months. View article...

Waterfront developer wants to build nearly 150 feet high The developer of Scottsdale Waterfront wants the city to modify its development standards for the vacant parcel immediately south of the Nordstrom parking garage to allow for a building or buildings that would rise nearly 150 feet. View article...

Cities turning to bill collectors for past debts Owe money to a city for power, gas and water and the chances are you will be hearing from a bill collector. View article...

Arizona No. 39 for jobs over past year A majority of states have more jobs today than they did a year ago, but Arizona is not one of them. View article...

Arizona's official unemployment rate fails to show the full picture Arizona's unemployment rate of nearly 10 percent doesn't come close to showing the full picture of just how tough the state's job market has become. View article...

Apartments and Offices Score in Second Quarter Real Estate Research Corporation's (RERC's) investment conditions ratings for the institutional apartment and central business district (CBD) office sectors each jumped a full point during second quarter 2010, making them the two highest-rated property types that RERC surveys. 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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