Daily News for Commercial Real Estate & Business – November 5, 2010

As many of you know, 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!

To view the November 2010 edition of Commercial Property Executive, click here.

INVESTMENT FIRM FROM SO. CALIF. BUYS SECOND OFFICE PROJECT IN VALLEY . . . WANTS MORE CJK SFC III LLC, a company formed by CJK Investments in Newport Beach, Calif. (Steven Craig, Steve Jarecki, David Kray, Jan Tatala, principals), paid $15.54 million ($103.16 per foot) to buy a 150,638-square-foot office building located at 7272 E. Indian School Road in Scottsdale. View article...

NI FAMILY PURCHASES FESTIVAL RANCH IN BUCKEYE FOR $30+ MILLION Companies formed by the Ni family in Scottsdale (Tsann Li Ni, member) paid $30.09 million in cash to purchase 7,042 acres in a planned community in Buckeye called Festival Ranch. The seller in three transactions was 10,000 West LLC, company controlled by the Bank of Scotland. View article...

Medical Properties Invests $30M in Hospital Development Medical Properties Trust Inc. has inked an agreement with Visionary Health LLC to acquire Florence Hospital at Anthem, a 36-bed acute care and emergency room facility currently under construction. View article...

New Asian restaurant heading to downtown Scottsdale The owners of 5th and Wine restaurant and wine bar plan to open their latest restaurant concept, Sunshine Moon Peking Pub, Nov. 18. The restaurant and pub, which will serve cuisine from all regions of Asia, will be at 4175 N. Goldwater Blvd., just south of Fifth Avenue. View article...

Museum, housing developers express interest in city site No one is knocking down Scottsdale's door for nearly 80 acres the city is offering at 94th Street and Bell Road, but there appears to be interest in the property north of WestWorld. The Scottsdale Museum of the West is taking a look and a representative of apartment developer Mark-Taylor Residential showed up at a recent city meeting to discuss Scottsdale's request for proposals for the site. View article...

Goodwill plans to continue growth in Phoenix Every day, donated household appliances, office supplies, toys, clothing and furniture help Goodwill of Central Arizona meet its mission, putting people to work. As Goodwill celebrates the opening of its newest clearance outlet/career center/salvage center in southwest Phoenix, spokeswoman Chandra Stewart answered some questions about the impact and future of the 63 year-old charity. View article...

Commercial Mortgage Originations Rise but Demand Remains Weak Commercial and multifamily mortgage loan originations during the third quarter jumped 15 percent from the previous quarter and were 32 percent higher than during the same period last year, according to data released by the Mortgage Bankers Association (MBA) Thursday. 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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