Daily News for Commercial Real Estate & Business – May 17, 2010

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

ARGON-TRIMMED LANDMARK MESA OFFICE TOWER NOTICED FOR TRUSTEE's SALE Mesa - A landmark, argon-trimmed office tower located at the southeast corner of Southern Avenue and Alma School Road in Mesa is set to be sold at a trustee's sale on August 11. According to Ion Data, a Mesa-based provider of real estate information, Don Miner of the Phoenix lawfirm Fennemore Craig is the trustee on the pending sale. View article...

SEATTLE INVESTOR PLOPS DOWN $43.5 MILLION FOR 512 APARTMENTS IN CHANDLER Chandler - A company formed by Private Portfolio Group LLC in Seattle, Wa. (Jim Almon, principal) paid $43.5 million ($84,961 per unit) to purchase the 512-unit Biscayne Bay apartments at 300 E. Warner Road in Chandler. The seller was a fund formed by Waterton & Associates in Chicago (David Schwartz, pres). View article...

Earnhardt buys GM dealership in east Mesa Mesa Pontiac Buick GMC has been sold to the Valley's largest auto dealer, Tex Earnhardt. Ed Chavez, the former owner, purchased the dealership a year ago from Mesa's Coury family, who owned it under the name Coury Buick Pontiac GMC at Superstition Springs Auto Mall in east Mesa. View article...

Southwest College of Naturopathic Medicine to build medical center The Southwest College of Naturopathic Medicine is moving forward with a medical center on its Tempe campus. Plans call for a 15,000-square-foot renovation of an existing building adjacent to the campus. It will cost $1.9 million and be completed by this November. View article...

Cable Solutions moving to larger space in Chandler Cable Solutions is moving from Tempe to Chandler in an effort to handle expanded operations. The company, which provides low-voltage cabling services and employs about 100 people, is moving into a 15,000-square-foot facility -- three times larger than its Tempe space. The new offices are at 2461 N. Arizona Ave. View article...

ASU report: Scottsdale home prices remain in free fall Scottsdale home prices continue to fall even as the Valley resale housing market has seen a 5.5 percent increase in prices from January to April. Scottsdale's median home price was $360,000 in April, down 10 percent from a year ago and a dip of 3.2 percent from January, according to an Arizona State University Realty Studies monthly report released this week. View article...

Scottsdale Airport registers first plane to exceed prior weight limit Scottsdale Airport has logged its first aircraft to take advantage of its new, higher weight limit. A DC-9 turbojet owned by the U.S. Department of Energy took off from the airport last week at 80,000 pounds, or 5,000 pounds over the airport's former weight limit of 75,000 pounds, Scottsdale aviation director Gary Mascaro said. View article...

Details vague on Glendale's Coyotes guarantee to NHL Glendale ultimately could be responsible for millions of dollars if no one buys the financially beleaguered Phoenix Coyotes. Details about the deal remain vague. The City Council on Tuesday guaranteed up to $25 million to the National Hockey League to cover costs for the team and arena in the 2010-11 season, which begins in September. View article...

Businesses not required to provide translators A Glendale optometrist's year-long legal fight over what services he had to provide for a Spanish speaking customer is going to help provide new protections to other businesses. Gov. Jan Brewer has signed legislation spelling out that nothing in state law requires businesses to provide "trained and competent" interpreters when a customer comes in speaking a language other than English. View article...

Commercial Market Still Struggling, But Realtors® Focus On Positive Trends While the commercial real estate market may not have fully recovered, National Association of Realtors® Chief Economist Lawrence Yun identified some developing, positive trends in the market that could eventually lead to recovery at the "Economics Issues and Commercial Business Trends Forum" yesterday. View article...

4 Banks Closed on May 14 State and federal regulators closed four banks on Friday, May 14. These closings raise to 79 the number of failed institutions so far in 2010. View article...

Retailers are readying for a comeback Retailers are priming for a consumer comeback. Shoppers have started to show they're willing and able to spend more, and stores are tweaking their merchandise to accommodate them. Cashmere is making a comeback and sellers of everything from wine to toys are seeing shoppers move away from the very lowest price ranges. View article...

Feel free to contact me regarding any of these stories, the current market, distressed commercial real estate opportunities or your property.

Speak Your Mind

*

CommentLuv badge

footer script.