Daily News for Commercial Real Estate & Business – January 11, 2010

Here are the news stories you might find interesting today regarding commercial real estate and business:

Pacifica Acquires Goodyear Office Bldg.

SunCor Development Co. sold the office building at 1626 N. Litchfield Road in Goodyear, AZ, to Pacifica Real Estate Group for $6.4 million, or about $105 per square foot. The three-story, 60,438-square-foot office building delivered in 2007, and...

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Apollo Animal Hospital Sells for $1.4M

The Apollo Animal Hospital sold its facility at 10707 N. 51st Ave. in Glendale, AZ, to private investors for $1.47 million, or about $230 per square foot. The 6,441-square-foot building was constructed in 1985 in the Northwest Phoenix submarket....

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Regus giving away 1-year of office space

Regus, a Brussels company specializing in workplace solutions is bringing its Win an Office sweepstakes to Phoenix.

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Scottsdale hospital to open pediatric emergency center

Scottsdale Healthcare plans to open a freestanding pediatric emergency department at Scottsdale Healthcare Shea Medical Center by March.

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Phoenix Children's Hospital project in Avondale delayed

Construction of Avondale's coveted Phoenix Children's Hospital satellite facility has been postponed, but the city says the project will go forward.

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Mayo Hospital campus in northeast Phoenix expects to grow

Tom Bour stood on the roof of the Mayo Hospital in northeast Phoenix and pointed to the land below.

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CityNorth projects all had troubled launches

At the $300 million CityNorth development in northeast Phoenix, parking spaces are plentiful along the Main Street equivalent known as High Street.

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Battle between Chandler Airport users and neighbors heats up

After 22 years of periodic public battles over runway lengths and jets at Chandler Municipal Airport, a fight between airport users and neighbors is heating up again.

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85,000 jobs vanished in December

WASHINGTON - Lack of confidence in the economic recovery led employers to shed a more-than-expected 85,000 net jobs in December even as the unemployment rate held at 10 percent.

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Privada homes aim for net-zero energy use

Peter Burger has found a greener niche for the Privada luxury development in North Scottsdale: creating a net-zero energy home.

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First Bank Failures of 2010

The New Year started where the old one left off: Federal and state banking regulators closed a pair of banking institutions on Friday, Jan. 8.

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Solar, wind tax breaks to aid Arizona

Six solar-power equipment factories planned near Phoenix will get nearly $30 million in tax breaks if built, and Arizona companies could get another $45 million in tax breaks for building factories in other states.

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Move afoot to end Gilbert economic development panel

Gilbert Development Services officials plan to bring a proposal before the Town Council to dissolve the long-standing Economic Development Advisory Board during a special joint session Tuesday.

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Hidden in plain sight: The hunt for banking capital

Effective capital management is no longer merely a nice--if somewhat exotic--skill to have. For some banks, it's a question of survival.

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REGISTER ASAP! THERE IS A LIMITED NUMBER OF TICKETS AVAIALBLE FOR THIS EVENT! Just a reminder: I am a panelist for the CCIM/IREM Economic Forecast on January 12, 2010. It is at the Phoenix Country Club and starts at 8AM. I will be on the Retail Panel with Daniel Pollack and Kevin Schuck. Our moderator is David Malin from Vestar. If you are in town, please come support me at the event. The website to register is www.iremccimforecast.com.

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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