Daily News for Commercial Real Estate & Business – August 27, 2010

Centerpoint winning bid expected within the week A winning bid will be selected on the Centerpoint Condominiums in downtown Tempe within the week, according Mark Winkleman, chief operating officer for ML Holdings. View article...

Pinchot Towers Sells for $2.6M The Pinchot Towers multifamily complex in Phoenix sold for $2.65 million, or approximately $19,900 per unit, in a sale between private investors. View article...

Local Owner Obtains $30M Refi for Two MF Assets Patience and planning paid off for a local owner and developer who received two FHA-insured mortgages totaling $29.9 million to refinance existing portfolio loans. View article...

The Latest on CityScape CityScape (Downtown's new entertainment district covering the area of Jefferson N to Washington and 1st Ave E to 1st St) announced a double dose of exciting news this week. First, several opening dates have been written in stone (or at least penciled in). Second, two more retailers, Charming Charlie and Jimmy John's, have been added to the line-up. View article...

Eco-friendly yogurt shop opens in northeast Phoenix When Canadian Bruce Baker moved to the Valley in part to escape the bitter cold, he soon found that he needed something to cope with the intense heat. The entrepreneur decided to offer northeast Phoenix residents a place where they could enjoy healthy desserts and live music in their neighborhood. View article...

Golf Galaxy store in Chandler closing The Golf Galaxy store at Ray Road and Loop 101 is closing Oct. 29, and most merchandise is on sale for 10 to 30 percent off. View article...

Commercial Real Estate Remains Soft but Favors Business Expansion Commercial real estate sectors, hurt by weak job growth, are offering incentives in many areas that are conducive to business expansion, according to the National Association of Realtors®. View article...

AAA: Labor Day travel in Arizona to grow 11% More Arizonans are expected to hit the road during the last big holiday weekend of the summer. View article...

Arizona gives $2.7M in grants to six renewable energy companies Six renewable energy companies are getting a total of $2.7 million in grants from the Arizona Commerce Authority for their plans to bring jobs to the state. View article...

Arizona State University report for July shows flat pricing for existing homes There was no appreciation in home values from July 2009 to July 2010 in the Phoenix area, according to the latest Arizona State University-Repeat Sales Index, issued Thursday. View article...

Mortgage Bankers Association reports steady 2Q foreclosure numbers Fourteen percent of U.S. mortgage loans are either in foreclosure or behind in payments, according to second-quarter numbers released today by the Mortgage Bankers Association. 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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