Daily News for Commercial Real Estate & Business – September 3, 2010

I will not be sending out a Daily News email on Monday. I hope you and your families enjoy the long Labor Day Weekend!

To view this weeks "The Watchlist" by Costar, click here.

Ohio developer buys Centerpoint for $30M, plans to finish by summer 2011 The unfinished Centerpoint high-rise project in downtown Tempe has been sold to Cleveland-based Zaremba Group. View article...

Court One buys $2.8M site for elite sports training facility A company called Court One of Phoenix paid $2.8 million for a distribution and warehouse building in Tempe off Interstate 10. View article...

Phoenix to pay $3.5 million for park The Phoenix City Council agreed to pay Great Western Historical LLC $3.5 million by Friday for the land on which the Pioneer Living History Museum sits in north Phoenix. View article...

Algae fuel company leases 15,000SF Heliae Development LLC has signed a 60-month lease at the 202 Business Park in Gilbert. Heliae is a spinoff company that started as part of the algae-based technology program at Arizona State University's Polytechnic campus in Mesa. View article...

TDIndustries acquires JBS Mechanical for $2.2M TDIndustries has acquired JBS Mechanical in Phoenix for $2.2 million, part of the Dallas company's expansion effort in Arizona. View article...

Plastics firm to open Eloy facility, predicts 300 new jobs A Texas company Wednesday announced it will open a plant in Eloy that could produce 300 jobs by the end of next year. View article...

Scottsdale considers annexing part of Papago Park Representatives from Scottsdale and Phoenix will meet this week to discuss Scottsdale's bid to annex a swath of Papago Park. View article...

Sky Harbor lands new USO center Phoenix Sky Harbor International Airport is the new home of a United Service Organizations center for military servicemen and -women. View article...

ASU-RSI: Phoenix Residential Real Estate Market Is Flat ... and Will Be for the Coming Year Home prices in Phoenix have been on a welcome upswing for several months, but preliminary data for July shows no change from last July, according the W. P., Carey School's Karl Guntermann, who calculates the ASU-Repeat Sales Index (ASU-RSI). Prices are likely to remain flat for the next year unless market conditions change significantly. 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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