Daily News for Commercial Real Estate & Business – June 8, 2011

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

Doughnut Peddler Purchases Industrial Building The Doughnut Peddler has purchased a 33,600-square-foot industrial building in Mesa for $1.9 million, or nearly $57 per square foot, in an REO sale. The property had been vacant since July 2009. Located at 4863 E. Ingram St., the building was completed in 2002 on 7.76 acres. Features include 10,000 square feet of office space, three grade-level doors and one truck well loading door. View article...

Craftsman Court adding art wine bar, expansion of Venue club (Homer on my team represented Angelo on finding this property! Congrats Homer!) A new "paint and sip" wine bar and a retractable roof at Venue Scottsdale will bring more activity to downtown Scottsdale's Craftsman Court during the slow summer months. The Brush Bar, an art wine bar, is expected to open mid-July at 4165 N. Craftsman Court. The co-owners are Angelo Ciliento Jr. and daughter Gia Ciliento. "We're going to have art classes and people are going to be painting, and we're going to have a wine bar, and wine and beer will be served to class participants," Angelo said. "There are some places like this in Denver, Boston and Atlanta . . . but for now this is brand new to the area." View article...

Buckeye leases land from BLM for a park Buckeye is leasing nearly 8,700 acres to transform the desert lands into a camping hub complete with picnic areas, campgrounds and hiking and equestrian trails. The town has signed a lease agreement with the Bureau of Land Management to develop 8,675 acres in the far West Valley into a regional park over the next 25 years. View article...

FDIC: Arizona bank assets down 11 percent since 2009 Total bank assets in Arizona as of early 2011 had declined by 11 percent since the end of 2009, according to the Federal Deposit Insurance Corp. Thirty-seven banks based in the state had total assets of $13.45 billion as of March 31, according to the FDIC. That's down from 44 banks holding assets of $15.04 billion at the end of 2009. View article...

Sky Harbor passenger, cargo traffic growing Phoenix Sky Harbor International Airport continues to see increases in passenger and cargo traffic compared to 2010 levels. April passenger traffic increased by 4.2 percent compared with the same month in 2010, totaling more than 3.4 million passengers, according to numbers released by the City of Phoenix Aviation Department. View article...

Financial jobs bounce back in Tucson, but not Phoenix The financial sector has bounced back from the recession in Tucson, but not many other places around the nation. A new On Numbers analysis of U.S. Bureau of Labor Statistics data finds that Tucson added 100 financial sector jobs between April 2008 and the same month this year. The Phoenix area lost 10,900 during that time, ranking its job performance in the financial sector 89th out of the top 100 U.S. metros. 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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