Daily News for Commercial Real Estate & Business – June 28, 2010

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

ANGELO, GORDON & CO. ENTITY DROPS $8 MILLION HARD FOR MIXED-USE SITE IN AVONDALE Avondale - AG/RW - Entorno LLC, a joint venture formed by Angelo, Gordon & Co. in New York City, N.Y. (John Angelo, Michael Gordon, partners) and Ridgewood Real Estate Partners in Florham Park , N.J. (Jonathan Grebow, pres.) paid $8 million to buy a 163-acre parcel of undeveloped land at the southwest corner of 99th Avenue and Indian School Road in Avondale. View article...

GARRETT DEVELOPMENT ADDS TO RESIDENTIAL HOLDINGS . . . BUYS 300 ACRES IN PINAL COUNTY Casa Grande - A company formed by Jeff Garrett of Garrett Development in Phoenix paid just over $4.452 million to acquire a roughly 300-acre parcel of land in a planned community in Casa Grande called McCartney Ranch II. View article...

Phoenix will buy 206-unit complex for low-income housing property After several years of failed efforts to remake the property, Summit Apartments soon will become the property of Phoenix's Housing Department, which owns and manages low-income housing throughout the city. View article...

Grand Canyon University breaks ground on events center Grand Canyon University broke ground today on a 5,000-seat event center at its Phoenix campus, part of a $60 million expansion. View article...

Flagstaff developers seek to build power plant The developers trying to build a 154-acre solar power plant 30-miles east of Flagstaff straddling Interstate 40 have partnered with Spanish company Siliken Renewable Energy for the project. View article...

Payday lenders calling it quits; some may offer auto-title loans The boom era for Arizona payday lenders, which offered quick, easy cash but charged extremely high interest rates, is coming to a close. View article...

Phoenix VA seeking $200M clinic The Phoenix VA Hospital plans to build an outpatient clinic in downtown Phoenix that could cost about $200 million to address the shortage of space at its facility on Indian School Road at Seventh Street. View article...

Meritage opens energy-efficient subdivision in Gilbert Meritage Homes opened its first energy-efficient subdivision in Gilbert, with houses aiming to cut energy costs by 80 percent. View article...

Solar industry gets guidance on tax credit Utility incentives for solar can be considered taxable, but an IRS ruling could save customers more money on residential installations. View article...

Buyers find real-estate deals in bankruptcy court Investors scouring for cheap real estate assets are starting to find opportunities in bankruptcy courts, where companies are selling assets they no longer can afford to keep. 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.

Comments

  1. Flagstaff is ahead of the game partnering with others to make solar power a reality. Good job.

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