Daily News for Commercial Real Estate & Business – March 30, 2011

Great Hearts charter school buys former Motorola site Motorola Inc.'s former regional headquarters in the Arcadia neighborhood soon will become a charter school. The nonprofit Great Hearts Academy paid nearly $6 million for the 142,000-square-foot building and surrounding land at 3102 N. 56th St. View article...

Talking Stick looks beyond Salt River Fields Members of the Salt River Pima Maricopa Indian Community are keeping their eyes on the future. With completion of Talking Stick Resort and the spring training facility, Salt River Fields at Talking Stick, the tribal nation is looking at additional projects to build on existing amenities. View article...

Mayor Gordon: Phoenix lands health-field supercomputer Phoenix will be home to the world's largest supercomputer dedicated to health information, Mayor Phil Gordon announced Tuesday afternoon in his final State of the City Address. The non-profit Institute for Advanced Health will be opening in downtown Phoenix and is expected to attract thousands of biomedical jobs, Gordon said. View article...

U.S. News ranks Phoenix hospitals, Good Samaritan comes in No. 1 U.S. News and World Report has published its annual "best hospitals" report, and for the first time the magazine ranked medical centers in the country's 52 largest metropolitan areas. View article...

Tucson named among best retirement cities Forbes magazine did not incluse any Phoenix-area cities in its list of best places to retire, but Tucson did make the grade. The southern Arizona city was noted for its "good weather, low taxes, cheap housing and living and plenty of doctors." View article...

AZ small business jobs beat U.S. growth A new report from Intuit shows Arizona is among national leaders in small business job growth in March. The Intuit Small Business Employment Index found that nationwide, small businesses added about 50,000 jobs in March for a monthly growth rate of 0.2 percent. In Arizona, that rate was higher, at 0.4 percent. View article...

Real Estate industry, charities killing Arizona flat tax plan Realtors, home builders and charities have steamrolled a flat tax proposal at the Arizona Legislature that would have created a single 2.13 percent state income tax rate, and eliminate deductions for mortgage interest payments and charitable donations. View article...

HOUSING
Homebuilders pin hopes on retiring Baby Boomers
The current housing-bust survival strategy for many Phoenix-area homebuilders leans heavily on a generation with the word "boom" in its name. With relatively few working-age families willing or able to invest in a new home, older Baby Boomers, many of whom are in retirement or eyeing it, represent the best hope for some local homebuilders to keep busy. View article...

Valley housing: 'Renting looks really good right now' A sign hangs in the front yard of a metropolitan area that was one of the epicenters of the housing boom - a poster child for the ease of fulfilling the American dream of home ownership. It reads: "For Rent." View article...

S&P Case-Shiller Index Records Another Drop in Home Prices Data released Tuesday morning by Standard & Poor's show that home prices are continuing to trend downwards. The 10-city and 20-city composites of the S&P/Case-Shiller home price index fell 0.9 percent and 1.0 percent, respectively, in January 2011 when compared to the previous month. View article...

Case-Shiller: Poor January, Phoenix down January housing numbers for Phoenix and the U.S. as a whole were not good in January, according to new S&P Case-Shiller index numbers put out Tuesday morning. Home prices are down 3.1 percent in the U.S. over the last 12 months and 9.1 percent in Phoenix since January 2010, according to the index. Phoenix had the largest year-over-year drop of the 20 metro areas in the housing index. View article...

West 6th Tempe condos open for tours this week Six years after the East Valley's tallest buildings began to rise from the ground, the public will finally be able to see what's inside. The West 6th Tempe condos will open for tours to prospective renters starting this week, only a month after construction resumed to complete the towers. 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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