Daily News for Commercial Real Estate & Business – November 10, 2010

I am the Chair of Newtown CDC. We are having our first annual "Affordable Fundraiser for Affordable Housing" on Sunday, November 14, 2010 from 11:30AM to 2:30PM. The mission of Newtown is to help increase the supply of permanently affordable housing while developing and supporting homebuyers through innovative programs and partnerships. If you do not have any plans, please make it a point to show up! You can click here to sign up! If you are interested in being a sponsor, let me know!

Now, for the news!

Weingarten pays $19M for Desert Village Weingarten Realty Investors paid $19 million for Desert Village, a 100,000-square-foot shopping center located at Pinnacle Peak and Pima roads in Scottsdale. The center is anchored by AJ's Fine Foods. View article...

Two retail pads in east Mesa sold to California investor Investor buys 2 properties in shopping center A California investor has purchased two pads in an east Mesa shopping center for $2 million. Village at August Ranch, a shopping center anchored by an Albertsons grocery store, is at Ellsworth and Baseline roads. Westwood Financial Corp purchased two 5,000-square-foot pads filled with tenants such as Starbucks and a Chase bank branch. View article...

Gray Development takes step to takeover of CityNorth project It's far from a done deal, but it is possible, maybe even probable, that Gray Development Group will take over CityNorth's undeveloped property and the controversial $97.4 million development agreement with Phoenix. View article...

Kai is AAA's top-rated restaurant in Arizona Kai restaurant at the Sheraton Wild Horse Pass Resort & Spa has been awarded the highest rating by AAA for its 2011 listings. Kai keeps its spot as the only five-diamond restaurant in Arizona. View article...

Humana signs deal with SleepQuest SleepQuest Inc., a national provider of sleep medicine services, announced Tuesday that Humana Inc. has contracted with SleepQuest to expand access to affordable Obstructive Sleep Apnea screening, diagnostic, therapy and compliance services for the insurer's PPO and Medicare members. View article...

US Airways hiring 500 US Airways will hire 500 flight attendants and pilots next year as it grows international routes and replaces retiring workers. The Tempe-based airline said this morning some of the positions will be filled by currently furloughed flight crew employees. View article...

Phoenix eliminates 546 vacant job posts Phoenix has eliminated 546 vacant positions, including 166 sworn-officer and 78 firefighter openings, but critics complain that revenue-generating departments such as water and aviation have been relatively untouched. 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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