Daily News for Commercial Real Estate & Business – June 30, 2010

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

Discovery Triangle. Here is a quick video that shows the area and the potential opportunities in that area. View article...

PASSCO Pays $33M for 202-Unit Desert Parks Vista SCOTTSDALE, AZ-After an abbreviated due diligence period and speedy closing, PASSCO Companies LLC has acquired Desert Parks Vista Apartments for $32.6 million, which translates into a sub-6% cap rate. View article...

Telesoft, Life Care Sign Leases in Phoenix Telesoft Corp., a leading provider of telecom cost management solutions, signed a 12,181 square foot lease at 1661 E. Camelback Road in Phoenix. Additionally, Life Care at Home of Arizona leased two suites in the building for a total of 5,516 square feet. View article...

Seasons 52 to open at Biltmore Fashion Park Seasons 52, an Orlando, Fla., restaurant concept is coming to Biltmore Fashion Park this fall. View article...

ECOtality still expects local growth Phoenix loses another corporate headquarters with today's announcement that ECOtality Inc. is moving its executive team to San Francisco, but the company is retaining a strong presence here and likely will continue to grow. View article...

Scottsdale to open 34-acre community park in early 2012 Work is under way on a 34-acre community park at Alma School Parkway and Pinnacle Vista Drive that will house playgrounds, basketball courts and a hiking trail when it opens in early 2012. View article...

Opus West broadens lawsuit against parent Opus West has leveled new allegations of fraud and self-dealing against its parent company. A U.S. bankruptcy judge in Dallas has allowed Opus West to file an amended complaint against its Minnetonka, Minn., parent, Opus Corp. View article...

Northeast Phoenix home sales up but not prices Northeast Phoenix was one of the last areas in town to feel the impact of the economic slump and the housing-price meltdown. View article...

AZ cities included in affordable housing grants Six Arizona cities are set to benefit from affordable housing grants from the Federal Home Loan Bank of San Francisco. View article...

ICBC Pushes Into U.S. Market in a Large Way Industrial & Commercial Bank of China, China's largest bank, is rolling out a "large-loan" program targeting commercial real-estate owners in need of loans that exceed $100 million, a category most U.S. banks now avoid. View article...

Nontraded REITs Raising $7 Billion in 2010 Nontraded real estate investment trusts (REITs) are on track to raise $7 billion in 2010, which represents a 17% increase over 2009, according to new research from Blue Vault Partners LLC. View article...

Consumer confidence drops sharply Consumer confidence dropped almost 10 points to the lowest level since February, creating renewed concerns about consumer spending - and the fragile economic recovery. 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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