Daily News for Commercial Real Estate & Business – June 29, 2011

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

Plastics Manufacturer Takes 104,352-SF Industrial Facility Another plastics manufacturer, Phoenix Packaging Operations LLC, has entered the greater Phoenix market, absorbing a 104,352-square-foot manufacturing and distribution facility here. The five-year lease will bring 100 new manufacturing jobs to the city within the next six months. The Florida-based company is the second plastics manufacturer to set up shop in suburban Phoenix this year: Schoeller Arca Systems signed a 10-year lease for 153,000 square feet of warehouse space in the former Rubbermaid facility at 17300 W. Broadway Rd. View article...

Konica snares last space in Liberty's Arizona portfolio Liberty Property Trust has leased the last available space in its 1.3 million square foot Arizona portfolio to Konica Minolta Business Solutions U.S.A. Konica will expand its presence at the Cotton Center in southeast Phoenix from 20,000 square feet to 35,000 square feet. View article...

CBRE SELLS TWO PHOENIX OFFICE BUILDINGS FOR $5.85M CB Richard Ellis has sold two low-rise office buildings in Phoenix for $5.85 million. The first is a four-story, 154,016-square-foot building located at 18444 N. 25th Ave. The multi-tenant building is 36 percent occupied. The second is a 5,070-square-foot office building that is located at 18456 N. 25th Ave. View article...

7th law firm set to move into CityScape in downtown Phoenix Another law firm is moving into CityScape in downtown Phoenix, bringing the number of law firms in the new tower to seven. Cantor Law Group is moving all 28 of its employees from its east Tempe office near Broadway and Price roads into CityScape, the 1.8 million-square-foot office and retail development near Washington and First streets. View article...

Tempe Town Lake Attracts Evergreen Development Tempe Town Lake is a bustling, popular spot for the Discovery Triangle and the Greater Phoenix region. Full of amenities, close to ASU and Mill Avenue, and easily accessed by the light rail and the 202 freeway, it's a destination for both entertainment-seekers and residents. Soon to add to the mix is Evergreen Development's proposed 330-unit apartment and townhouse complex. View article...

West 6th Tempe apartments taking reservations for Tower 2 Demand for high-rise living downtown has prompted West 6th Tempe apartments to accept early reservations for the community's 30-story tower. In less than three months, West 6th's 22-story Tower 1 is more than 75 percent rented, announced property manager Capstone Companies on Monday. Tower 1 with 189 units is scheduled to open Aug. 1, in time for Arizona State University's fall semester. View article...

Mesa Goodwill grand opening draws hundreds of shoppers Hundreds of shoppers got an early start on bargain hunting at a new Goodwill store in west Mesa Friday. The loyal few at the front of the line - which stretched around to the back of the building on Country Club Drive near Southern Avenue - had camped out as early as 5 a.m. View article...

Biosphere 2 to get new owner - the University of Arizona Two donations will let the University of Arizona become the official owner of the Biosphere 2 research facility on July 1. One donation includes 40 acres of real estate, while the other consists of $20 million to support operations. View article...

Desert Ridge parcel moves closer to development Development is moving forward for one of the two $1 million-an-acre properties in Desert Ridge. Westfield/Greystone Master Partnership purchased the 26-acre parcel in May 2007 for $28.5 million. A year later, its plans were in place. View article...

Westwood Financial Snatches Up Small, Distressed Retail Centers Last week, Los Angeles-based Westwood Financial Corp. announced it had acquired the 6,336 sq. ft. Stroh Ranch Retail Center in Parker, Colo. The center - 21% leased at the time of the deal - is emblematic of the type of property that Westwood is targeting as it plans to spend $100 million buying small, distressed strip centers. View article...

ATA: Truck shipments fall again, revving economic anxiety Truck shipments fell for the second consecutive month in May, according to the American Trucking Associations. The trade organization reported Monday that its advance seasonally adjusted For-Hire Truck Tonnage Index fell 2.3 percent in May, building on a revised April tonnage decline of 0.6 percent, slightly better than the ATA's preliminary estimate of a 0.7 percent loss. View article...

Hispanic population nears 30 percent in Maricopa County U.S. Census Bureau figures show 29.6 percent of Maricopa County's population is Hispanic. Hispanics total 1.13 million people in Maricopa County. The second-largest total is in Pima County: 980,263, or 34.6 percent. 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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