Daily News for Commercial Real Estate & Business – June 14, 2010

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

GO DADDY SPENDS $12.5 MILLION FOR SCOTTSDALE AIRPARK PROPERTY Scottsdale - GoDaddy.com Inc. in Scottsdale (Bob Parsons, principal) paid $12.5 million ($81.45 per foot) to buy a 153,469-square-foot office project at the northeast corner of Hayden Road and Acoma Drive in Scottsdale. View article...

MONTAGE HOLDINGS ENTITY PICKS UP 68 ACRES IN GOODYEAR . . . PAYS $13+ MILLION Goodyear - A company formed by investor Garth Wieger of Montage Holdings in Scottsdale paid just over $13.3 million to acquire a 68-acre parcel just west of the southwest corner of Interstate 10 and Litchfield Road in Goodyear. View article...

Gilbert Main Street Commons tower plans are scaled back The vision for Gilbert's Main Street Commons, a mixed-use project that once drew comparisons to Kierland Commons in Scottsdale, may be scaled back to meet more realistic demands for new development. View article...

Arizona home builders buying up land once again Homebuilders are buying land again in metropolitan Phoenix. So far this year, according to the Arizona brokerage firm Land Advisors, homebuilders here have spent $90 million on land purchases for new homes. That's the most builders have invested in the region's land in any year since the peak of the housing boom in 2006. View article...

South Scottsdale plan emphasizes housing, businesses and greenbelt South Scottsdale would have vibrant neighborhoods with affordable housing, economic corridors thriving with locally-owned businesses and easy access to the Indian Bend Wash recreational greenbelt under a plan now under consideration. View article...

Developer breaks ground on large Gilbert development Flanked by cornfields and dairy cows in one of Gilbert's last agrarian strongholds, backhoes and bulldozers are clearing the way for a new master-planned community that could eventually lure about 6,000 residents. View article...

ADOT plans Loop 303 meeting in Sun City Grand The Arizona Department of Transportation will discuss plans for the next phase of Loop 303 improvements at an open house in Sun City Grand on Monday. View article...

Waste Management acquires Valley firm A Waste Management Inc. subsidiary has acquired Milum Textile Services Co., a waste-collection company based in the Valley. View article...

Terri's Consign and Design files Chapter 7 Terri Bowersock is devastated that the company she founded out of a truck in 1979 now sits in U.S. Bankruptcy Court. View article...

Signs Arizona's economy may be improving Arizona's economy continued to offer signs that its green shoots of growth are continuing to flourish. Motor-vehicle sales and job numbers were especially strong in the most recent data, and the housing market is looking better. View article...

BLM sets rental rate for solar plant sites The Bureau of Land Management announced Thursday what it will charge in rent for solar-power plants on its acreage across the West and said the prices will encourage development while bringing revenue to the U.S. Treasury. View article...

'Inland port' a vision for jobs, growth in Arizona Two maps appear on a screen inside the offices of the Maricopa Association of Governments. To Executive Director Dennis Smith, they show the Valley's past and its future. View article...

Law Makers Consider Carried Interest Legislation As lawmakers in Washington mull legislation that will affect the tax treatment of carried interest, a standard form of compensation for general partners in limited partnerships and limited liability corporations, commercial real estate pros are debating whether the legislation makes sense and how much of an impact it will have, should it come to pass. View article...

Bank, Credit Union Closed on June 11 Latest Tally: 91 Failed Institutions So Far in 2010. Federal and state banking regulators closed a bank and a credit union on Friday, June 11, raising the number of failed institutions to 91 so far in 2010. View article...

Retail sales decline in May Retail sales, which had slowly been climbing out of the economic downturn, decreased in May, according to reports released Friday by the National Retail Federation and the U.S. Commerce Department. 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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