Daily News for Commercial Real Estate & Business – September 29, 2010

Bell Cove apartments sold for $9.2M Onni Capital LLC in Vancouver purchased the 256-unit Bell Cove apartment complex in north Phoenix for $9.2 million. The property, located at 17239 N. 19th Ave., was built in 1984. View article...

Waterous consolidates, expands Arizona operations into Glendale facility The Waterous Co. is consolidating its Arizona operations into a much larger Glendale facility. The South Saint Paul, Minn.-based company is moving out of a 10,000-square-foot space in Peoria and leasing that property to Frontier Emergency Products, a fire truck dealership. View article...

Arizona State University, Payson to consider college site Arizona State University is taking another step toward locating a college in Payson. ASU and Payson officials are announcing today that they have signed an agreement to analyze and consider locating a college in the Rim Country town. View article...

Chrysalis shelter gets bigger, better Men and women will quietly gather next week to dedicate and celebrate the $3.1 million expansion of Chrysalis, an emergency domestic-violence shelter in north-central Phoenix. Leigha Jackson, a petite woman with long blond hair, will talk about how Chrysalis gave her shelter and hope when she needed it the most. View article...

Phoenix loses solar power deal with Tessera Solar North America Houston-based Tessera Solar North America and Phoenix will no longer partner to build a 250-megawatt power plant on a city-owned landfill in Buckeye near Arizona 85. View article...

CoreLogic: Foreclosure rate up a smidge Foreclosure rates in the Phoenix area increased slightly in July over the same period last year, according to research from CoreLogic. View article...

Case Shiller: Phoenix home values down 0.6% Home prices declined slightly in the Phoenix market, according to data released today in the S&P/Case Shiller Home Price Indices. The negative change from June to July, however, is small at 0.6 percent. View article...

No Illusion: Retailers Expanding Like Crazy When the recession started in 2008, the retail sector didn't seem like it was in the best shape. Consumer spending and retailer sales dropped dramatically, and after that, major chains like Circuit City and Linens 'n Things shut down. View article...

Consumer confidence drops to lowest level in seven months Bleaker-than-expected business conditions and a still-struggling labor market greatly lowered consumer confidence, falling to the lowest level since February. View article...

New Plan for Corporate Credit Unions The announcement late last week that the National Credit Union Administration is taking over three undercapitalized corporate credit unions may signal a stabilizing effect on the industry, observers say. 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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