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

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

Aqua Fria School District Pays $2.6M for Avondale Office Plex Aqua Fria Union High School District acquired the bank-owned Avondale Office Plex in Phoenix for $2.6 million, or $83 per square foot. The buyer plans to ultimately occupy the entire building. The plans for the existing tenants were not disclosed. View article...

Aloft Hotel gets LEED certification The Aloft Hotel in Tempe has received certification from the U.S. Green Building Council's Leadership in Energy and Environmental Design program. View article...

Salsa maker moving into bigger space in Gilbert El Sol Foods, a Chandler-based manufacturer of fresh salsa, is moving into a Gilbert warehouse three times as large as its current location on Ray Road east of Arizona Avenue. View article...

Arizona Center's Pizzeria Uno shutters after 16 years Pizzeria Uno, a popular restaurant at the Arizona Center in downtown Phoenix, has served its loyal customers for the last time. The Italian bistro had been at its 455 N. 3rd St. location for 16 years but called it quits last week after the owners were told the Brick, a Sedona-based Italian restaurant, would be moving in. View article...

Arizona immigration law cited as reason for closing 'Campeones' Arizona's new immigration law was one of the factors that gave one of Mesa's major new entertainment venues a knockout punch, its owner says. Julio César Chávez Campeones, a $4.5 million boxing-themed dining and entertainment venue that opened in November at Country Club Drive and Southern Avenue, closed a week ago. View article...

Hotel Valley Ho earns green honors Hotel Valley Ho has received the Certified Green designation from the Arizona Hotel and Lodging Association. The hotel scored more than twice as many points as necessary for the certification. View article...

Tempe Leadership class named (I was a part of Class 23 and would recommend this to people that really want to know how a city operates) Tempe Leadership has announced the members of Class XXVI, which begins its nine-month leadership training course in September. View article...

Foreclosures fell in Valley for May A new Arizona State University real-estate report shows home foreclosures may be leveling off, but the author says it's unclear if the trend will continue because of the number of defaults and late payments still plaguing the market. 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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