Daily News for Commercial Real Estate & Business – February 24, 2011

To view this weeks The Watchlist by Costar, click here.

$8 Million Retail Sale Debbie W. Heslop, CCIM, of Volk Co. in Tucson, Ariz., represented Crestline Investments LLC in the more than $8 million sale of 103,492-sf Northgate Plaza shopping center in Tucson to TNP SRT Northgate Plaza Tucson LLC. View article...

World Wide Technology Leases 31,160 SF in Mesa World Wide Technology, Inc., a systems integrator that specializes in delivering and supporting advanced technology solutions, signed a three-year lease for 31,160 square feet in the industrial building at 2166 W. Broadway Rd. in Mesa, AZ. The single-story warehouse totals 85,533 square feet and is known as Broadway 101 Building 10. View article...

PayPal celebrates Chandler opening PayPal, the online payment service that facilitates nearly 18 percent of all online global commerce, celebrated the grand opening Wednesday at its new Price Road customer service and operations center. View article...

2nd solar-equipment plant planned for Surprise A second green-energy-equipment manufacturer based in Spain has announced plans to open its U.S. plant in Surprise. Gestamp Solar Steel Co., which makes steel structures to hold solar mirrors, panels and other equipment, will build a 75,000-square-foot facility in the city's southern railplex. View article...

Tilted Kilt Eyes June Opening at CityScape The growing roster of restaurants at CityScape will add another key player in June with the opening of Tilted Kilt Pub & Eatery, the popular chain's fifth location in the Valley. When LGO Public House pulled out of Downtown's entertainment district earlier this month due to ventilation issues, there were whispers that other restaurants in the works, including Tilted Kilt, would follow suit. View article...

Banner Health targets Maricopa Banner Health, Arizona's largest medical system, plans to build a health center in the growing city of Maricopa. It will be the first major medical facility in the Pinal County community, which has a population of about 40,000. Banner is buying 11.1 acres for $1.7 million, with plans to build what will become an 80,000-square-foot facility. View article...

Barnes & Noble eyes Borders locations Barnes & Noble Inc., which has eight stores in the Phoenix area, is shoring up finances to avoid following the fate of Borders Group and may be interested in taking over some the stores its rival closes as part of a bankruptcy reorganization. View article...

East Valley finally on the high-tech map They are the East Valley's big picture guys. They look at the region's science, technology, aerospace, medical, and higher education assets and they see the enormous opportunity to market a region as a whole to the rest of the world. View article...

Phoenix with majority as 80 of 100 U.S. markets take economic dip Four-fifths of the nation's 100 biggest markets, Phoenix included, suffered economic contraction in 2009, according to a comprehensive report issued Wednesday morning by the U.S. Bureau of Economic Analysis. View article...

Gas prices rise, fears for economy grow Gas prices have jumped about a dime a gallon in the past week in metro Phoenix, and with Middle East unrest pushing up the price of oil, analysts warn that the already fragile economic recovery could sputter if prices rise too high. A gallon of regular unleaded fuel in Phoenix averaged $3.24 on Tuesday, which was up from $3.15 a week earlier, according to AAA Arizona. 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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