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Commercial Real Estate & Business News – December 19, 2012

I hope you have a Merry Christmas and Happy New Year!

Today is the last Daily News for 2012! I hope you have enjoyed receiving the Daily News and look forward to sending it again in 2013!

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

Mountain Park Ranch Sells in Phoenix Washington-based Kunz Investments LLC purchased the Mountain Park Ranch apartments located at 4221 E. Ray Rd. in Phoenix, AZ from Equity Residential for $30.85 million, or about $128,500 per unit. The 230,560-square-foot, 240-unit multifamily community is situated on 12.5 acres in the South Tempe / Ahwatukee submarket of Maricopa County. View article…

Oaktree Capital Management buys Fender Headquarters for $29.85m Bruce Karsh of Oaktree Capital Management has purchased The FNBA Building in the Perimeter Center Business Park from WDP Partners. The building is the current headquarters for Fender Musical Instruments, and was formerly the headquarters for First National Bank of Arizona. The two-story office building is located West of the Southwest corner of Princess Road and Loop 101 at 17600 N Perimeter Drive in Scottsdale. View article…

Phoenix Retail Bldg Sells for $1.5M Tousa Homes, Inc. sold the 7,020-square-foot retail building at 42420 Vision Way in Phoenix, AZ for $1,546,000, or about $220 per square foot, to R & D Enterprises. The property was 100 percent occupied by O’Reilly Auto Parts on a 15-year lease that will expire in January 2020. View article…

Whispering Wind Corp Ctr Sells for $12.2M The Mack Company sold the Whispering Wind Corporate Center to a private investor for $12.2 million, or about $162 per square foot. The center consists of two buildings located at 2205 and 2225 W. Whispering Wind Dr. in Phoenix, AZ. W.L. Gore occupies one building totaling 38,308 square feet. The second building is also 38,808 square feet and is occupied by multiple tenants. Both buildings are fully leased and were built in 2006. View article…

Off Madison Ave. expands office after merger with SpinSix A Phoenix advertising agency is expanding its office space after merging with a marketing firm. Off Madison Ave and Scottsdale-based SpinSix Strategic Marketing Design LLC merged in September. The combination – now called Off Madison Ave + Spin Six – is based at the former’s Phoenix office, and is adding 4,000 square feet in office and conference space. View article…

Saladworks expanding into Arizona market Pennsylvania-based Saladworks will open its first Arizona location this week at the corner of Loop 101 and Frank Lloyd Wright Boulevard in Scottsdale. The build-your-own salad restaurant will open Dec. 19 at 15768 N. Frank Lloyd Wright Blvd. View article…

HOUSING:
Fannie Mae: Housing Market to Press On While Economy Lags After rising in the third quarter, overall economic growth is expected to decline this quarter and in early 2013, according to Fannie Mae. However, the GSE anticipates further strengthening in the housing market. Economists at Fannie Mae anticipate economic growth of less than 2 percent for the first half of 2013 followed by more accelerated growth for the remainder of the year. View article…