Daily News for Commercial Real Estate & Business – September 27, 2010

Aspen Valley Bread Co. Bakery buys Mesa building for $3M Mesa-based Aspen Valley Bread Co. Bakery has purchased a 61,200-square-foot industrial building at 300 W. Southern Ave. in Mesa for $3 million. View article...

LASALLE INVESTMENT MANAGEMENT DROPS $42.525 MILLION FOR 342 APARTMENTS IN PHOENIX Phoenix - I&G Desert Ridge LLC, a company formed by LaSalle Investment Management in Chicago, Ill. (Lynn Thurber, chairman), paid $42.525 million ($124,342 per unit) to purchase the 342-unit Shade at Desert Ridge apartments at 21150 N. Tatum Boulevard in Phoenix. View article...FOOD PACKAGING/PROCESSING COMPANY MOVING OPERATIONS FROM CALIFORNIA TO PHOENIX Phoenix - SunTree LLC in Scottsdale (David Turner, principal) plans to relocate a food packaging and processing operation from Orosi, Calif. to a newly-acquired property in Phoenix. David Turner International LLC paid $4.5 million ($36.18 per foot) to buy a 124,394-square-foot manufacturing facility located at 4502 W. Monterosa Street in Phoenix. View article...

Tessera Solar, Phoenix end bid for landfill power plant Tessera Solar North America and the city of Phoenix have ended their joint bid to pursue a 250-megawatt solar power plant. View article...

Park-and-ride lot planned at Scottsdale Airpark Scottsdale is moving forward with plans for a park-and-ride lot in the Scottsdale Airpark. The lot, on the southeastern corner of Scottsdale and Thunderbird roads, is expected to have about 420 parking spots with about 168 covered. It has an expected completion date of July 2012. View article...

Planners approve scaled-back luxury Blue Sky apartments A proposed luxury apartment complex just east of Scottsdale Fashion Square won the approval of the city Planning Commission on Wednesday after the developer presented a further scaled-back plan that addressed most opponents' concerns. View article...

Two Banks Closed on Sept. 24 Federal and state banking regulators closed two banks on Friday, Sept. 24. These failures raise the total number of failed institutions to 144 so far in 2010. View article...

Legislation could lead to fourth-quarter SBA lending boom Washington - Expect a boom in U.S. Small Business Administration lending in the fourth quarter, thanks to passage of legislation that increased the government guarantee on SBA loans and waived fees for borrowers. View article...

Phoenix's struggling housing market helped by Canadian buyers The collapse in housing prices and a strong Canadian dollar are luring north-of-the-border buyers to Arizona and other states where the weather is warm and the housing cheap. 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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