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Commercial Real Estate & Business News – April 8, 2013

Here are the news articles you might find interesting today for commercial real estate and business:

Denali National Trust Acquires Phoenix Flex Bldg Denali National Trust LLC acquired the flex building at 1911 W. Parkside Rd. in Phoenix, AZ from Barron Manufacturing Realty LLC for $2,175,341, or nearly $68 per square foot. The 32,221-square-foot property was built in 2005 and is the current location for Exitronix, a lighting manufacturer. View article…

Younan Buys 137,000-SF Scottsdale Promenade Younan Properties Inc. has acquired the 137,552-square-foot Scottsdale Promenade from CW Capital. With this buy, the Southern California commercial real estate company re-enters the Phoenix market as it moves its strategy to lifestyle types of retail centers. “This was a unique opportunity to expand our footprint in the recovering Phoenix market by acquiring an institutional quality asset with significant upside potential,”…View article…

Scottsdale: Blue Sky has met construction deadline Gray Development Group has met Scottsdale’s deadline requiring its Blue Sky apartment complex be under “substantial construction” by April 26 near Scottsdale Fashion Square, city officials said Friday. City Manager Dan Worth sent an e-mail to Mayor Jim Lane and all City Council members Friday saying city staff conducted an inspection of the “reinforcement of a segment of the footings for a wall that will be part of the underground parking” in the first phase of the project. View article…

Alternate Peoria Northern Parkway route would take 2 more homes A proposed alternate route for Northern Parkway in Peoria would remove two traffic lights at 111th and 107th avenues to keep traffic flowing and ease congestion that could impact nearby neighborhoods. However, the project improvement would eat up five homes, instead of three under the route approved in 2010. View article…

First Scottsdale Bank takes over assets of failed Gold Canyon Bank First Scottsdale Bank took over all deposits and nearly all of the assets of Gold Canyon Bank from the Federal Deposit Insurance Corp. today. As receiver for Gold Canyon Bank, the FDIC named First Scottsdale as the winning bidder to take over the failed bank’s assets. View article…

Cole rebuffs American Realty Capital Properties again, plans to go public Phoenix-based Cole Credit Property Trust III Inc. officially shut down a real estate investment trust’s relentless takeover bid on Friday by sealing its own acquisition of its asset manager and sponsor, Cole Holdings Corp., and reiterating its commitment to take the combined entity public in June. View article…

Bank of America’s Merrill Edge to hire 100 in Chandler Bank of America’s Merrill Edge online trading arm plans to hire more than 100 investment professionals at its Chandler site this year. The company says Chandler is a target growth market for positions in investment sales, advisory, service and operations. View article…

Walgreens expands services in its Take Care clinics Walgreens will offer a wider range of services in its Take Care clinics, including assessment and treatment of chronic conditions. “Through greater access to services and a broader focus on disease prevention and chronic condition management, our clinics can connect and work with physicians and other providers to better help support the increasing demands on our health care system today,”…View article…

HOUSING:
Asking Home Prices Move Higher, Single-Family Rents at Stand-Still Asking prices on single-family homes rose in March, while high inventory flattened out rent prices, according to Trulia’s Price and Rent Monitors. Based on data on for-sale homes and rentals listed on Trulia, the monitors take into account changes in the mix of listed homes and reflect trends in prices and rents for similar homes and similar neighborhoods through the end of March. View article…