Daily News for Commercial Real Estate & Business – July 28, 2011

Here are the news articles you might find interesting today for commercial real estate and business:

To view this weeks Costar Watchlist, click here.

Pathfinder Partners pays $5.4M for Dobson Springs San Diego-based Pathfinder Partners paid $5.4 million for the Dobson Springs apartments in Mesa. The lender-owned acquisition of the complex at 1325 W. Guadalupe Road was completed in partnership with Bruckal Properties and New Summit Partners. View article...

Pathfinder to Convert Distressed Dorsey Place Condo Project in Tempe into Rental Community Pathfinder Partners LLC, a San Diego-based company that invests in distressed real estate assets and defaulted loans, has acquired 84 units within Dorsey Place, a 90-unit, high-end condominium project at 1275 University Ave. in Tempe, Ariz. View article...

Discount retailer Tuesday Morning set to open new Mesa store Close-out retailer Tuesday Morning Corp. has signed a lease to open a store in Mesa Commons, 1830 S. Gilbert Road in Mesa. The chain has 21 stores in Arizona and will occupy 16,333 square feet at the new location, which is scheduled to open in October. Mesa Commons is a 136,900-square-foot retail center with anchor tenants Amazing Jake's Food and Fun and the Tilted Kilt. View article...

Ports America expands its presence in Chandler Ports America is expanding its presence in Arizona by moving to three floors at 55 N. Arizona Place in Chandler. The announcement was made by the city of Chandler. The New Jersey-based company is the largest independent marine terminal operator in North America, according to a Chandler news release. View article...

Chrysler Plans 16,212-SF Office in Paradise Village Chrysler Group LLC has signed a six-year lease for 16,212 square feet at Paradise Village Office Park. The Auburn Hills, MI-based automaker will use the class A office space for a new administrative office to serve its local dealerships. "Chrysler was in a hurry to get the office open, and they were only looking at class A and B+ space, so they were somewhat limited in their choices," says Cooper Sutherland of Lincoln Property Company. View article...

Wal-Mart to Move its Regional HQ to Airport Tech Center Wal-Mart Stores Inc., a retailer based in Bentonville, Arkansas, is relocating its regional offices from the Papago Park Center situated in Tempe to the Airport Tech Center in Phoenix. The retailer has signed a lease for 21,700 square feet of space at the Airport Tech Center at 4127 E. Van Buren St. View article...

Four Peaks school in Fountain Hills officially closes A moving company was on standby Friday morning as the Fountain Hills Unified School District governing board voted to close Four Peaks Elementary School. After the vote, movers and district maintenance staff started taking boxes from Four Peaks classrooms to McDowell Mountain Elementary School, which the district's third-graders will now attend, making that school K-3, and to Fountain Hills Middle School, which will take all fourth- and fifth-graders, making it Grades 4-8. View article...

Entrepreneurs move quilting shop to downtown Chandler Cutting Edge Quilts, which sells quilting products, offers classes and hosts sewing retreats, has moved to downtown Chandler. The shop, owned by Joe and Dee Peck and located on San Marcos Place, moved from Ray and Dobson roads. Dee Peck said the classes vary in price. A five-week beginner's class, which meets weekly for two hours and is taught by Nancy Haldeman, costs $60. View article...

25 Degrees restaurant leaves CityNorth center Another restaurant has left CityNorth after about two years at the northeast Phoenix shopping center. Billed as an upscale burger joint, 25 Degrees opened at CityNorth in June 2009. The restaurant is owned by Domaine Restaurants, based in Newport Beach, Calif. According to 25 Degrees' website, the CityNorth location was one of the chain's first locations outside of Southern California. View article...

Postal Service eyes closure of 3,600 locations The U.S. Postal Service is looking at closing more than 3,600 post offices as it cuts costs. Only 11 of the stations slated for closure are in Arizona, and most are in rural areas or small towns including Bullhead City, Oatman, Wikieup and Bisbee. View article...

Phoenix multifamily sales account for $392M in 2Q Multifamily transactions continue to dominate the Phoenix real estate investment market with 45 transactions closing in the second quarter for nearly $392 million, according to a report released by Orion Investment Real Estate Solutions in Scottsdale. The total sales volume was up from the first quarter when there were 41 transactions for nearly $225 million. View article...

Fitch: Is CMBS 2.0 a Sign of Healthy Growth or Cause for Concern? Concerns have begun to mount that underwriting standards for loans in newly issued commercial mortgage-backed securities (CMBS) are on the decline. Addressing this issue, the analysts at Fitch Ratings say they believe there is "quite a way to go" before standards approach levels seen in 2007, a year viewed by many as the most volatile vintage for CMBS. View article...

Trepp Estimates Declines in Delinquency Rates Trepp, LLC estimates decreases in all types of bank loan delinquencies in the second quarter of 2011. Delinquencies are expected to decline among residential mortgages, commercial mortgages, construction loans, and commercial and industrial loans, according to Trepp's estimates. View article...

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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