Daily News for Commercial Real Estate & Business – July 22, 2010

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

Gardner-Gibson Buys Phoenix Warehouse for $2.3M Gardner-Gibson Inc. purchased an industrial building in the Reywest Commerce Center in Phoenix for $2.25 million, or approximately $30 per square foot. The Tampa-based manufacturer of coatings and sealers plans to take occupancy in six to eight months. View article...

Flagstaff Walgreens Sells for $3.8M I.S. Corp., a Florida investment group, purchased the Walgreens at 1025 S. Milton Road in Flagstaff, AZ, for $3.84 million, or about $280 per square foot. View article...

Banner MediSun opening in Mesa Banner MediSun office is opening a new office Thursday on Power Road in Mesa. View article...

CVS To Stage Grand Opening July 26 For years, Downtown Phoenix employees and residents have been clamoring for a full-service pharmacy within walking distance of their homes and offices. View article...

Fire breaks out at antique furniture store in Phoenix Phoenix firefighters quickly contained a blaze that engulfed an antique furniture store near Seventh Street and Camelback Road early Wednesday, saving connected shops nearby. View article...

Surprise-Brentwood Industries deal could bring 40 jobs The Surprise City Council is expected to approve a development agreement Thursday evening that could bring manufacturing jobs to the city. View article...

ASU-RSI: Phoenix Home Prices Expected to Flatten (Your Sector May Vary) The small increases in Phoenix housing prices that began this spring will likely continue for only a month or two longer, then flatten out for "an extended period," said Karl Guntermann, a professor of real estate who calculates the ASU-Repeat Sales Index (ASU-RSI) at the W. P. Carey School of Business. View article...

U.S. Industrial Real Estate Markets Now In Recovery (This article came from a webinar I attended yesterday. If you want the full report including the charts/graphs, email me and I will send it to you) The U.S. industrial real estate market now appears to be headed into recovery after several quarters of negative absorption. 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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