Daily News for Commercial Real Estate & Business – February 11, 2011

To view the February 2011 edition of Commercial Property Executive, click here.

P.F. Chang's building in Mesa sold Marcus & Millichap has sold a 6,483-square-foot single-tenant building at Superstition Springs Boulevard and U.S. 60. The building, known as P.F. Chang's Ground Lease, commanded a price of $2,050,000...View article...

Alliance Commercial Pays $30M for Industrial Park Alliance Commercial Partners LLC has made its first industrial buy in the Valley, paying $30.45 million for a nine-building industrial park totaling 553,317 square feet. The Lakewood, CO-based investor acquired the class A property, located at 450-590 North 54th St., from a joint venture comprised of RREEF America LLC and Lincoln Property Co. View article...

WOODSIDE HOMES PICKS UP LAND FOR TWO SUBDIVISIONS . . . LOOKING FOR MORE DIRT Woodside Homes of Arizona in Mesa (Gene Morrison, division pres.) has acquired land in Mesa and Chandler to build 154 residences. The property acquisitions are the first in the Valley for Woodside in more than four years. The privately-held home builder emerged from bankruptcy protection at year-end 2009, and is poised to ramp up its housing operations in the Phoenix area. View article...

California chain Habit Burger coming to East Valley The California-based Habit Burger Grill is expanding to Arizona with several East Valley locations. The first will open this spring at Guadalupe Road and McClintock Drive in Tempe, with another following this summer at Interstate 10 and Ray Road in Chandler and one in Phoenix. View article...

Baby Bloomers consignment store in Phoenix gets new owners More than 86,000 babies were born in 2010 in Arizona. All those little bundles of joy are potential customers for babycentric businesses. Of course, it's the parents and grandparents with the discretionary income, searching for products that offer value and safety or serve multiple functions. View article...

Retail Watch: Ultimate Electronics Decides To Press Delete Button Ultimate Acquisition Partners LP, the parent company of retailer Ultimate Electronics, has hired Gordon Brothers Retail Partners as consultant for the liquidation of its stores as part of its Chapter 11 bankruptcy reorganization. The company plans to begin closing sales immediately at all 46 of its stores. View article...

Phoenix job news The following is a roundup of job news for the Phoenix area - a few statistics, but mostly hiring opportunities and expansions that could mean new jobs. View article...

Gilbert therapy center to bring 140 jobs Menlo DevCo LLC has been awarded an $8.5 million FHA/HUD insured guaranteed loan to build the Wellsprings Therapy Center at 3319 S. Mercy Road, Gilbert. The Wellsprings Therapy Center will focus on transitional rehabilitation, bridging the gap between hospital and home using technology and holistic healing practices. The 28,000-square-foot building, scheduled to open in the fall, will bring an estimated 140 combined direct and indirect jobs to Arizona. View article...

Phoenix call center to close; 175 face layoffs Deluxe Corp., a St. Paul, Minn.-based company, announced Wednesday that it is closing a 15-year-old call center in Phoenix and laying off 175 workers this year. The company, which has been in business for 96 years and is best-known for selling customized blank checks, is closing the center to consolidate four call centers into three. View article...

By the Numbers: The Year Ahead in Commercial Real Estate Against the backdrop of a tentative recovery in the domestic economy, continued inertia in the nation's employment trends, and an element of dysfunction in the nation's capital, headline measures of activity in the commercial real estate investment marketplace have improved markedly over the course of 2010. 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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