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Commercial Real Estate & Business News – February 28, 2013

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

2013 ULI Trends Day Arizona Recap – Part 9 – Capital Markets Panel Following the Retail Panel was the Capital Markets Panel. Key characters from this group were: Mike Forsum, Starwood Land Ventures; Ben Greazel, BGC Real Estate Capital Partner; David Sotolov, iStar Financial; moderated by Michael Straneva, Earnest & Young. This was the final panel to end a marathon of a day! Overall, the panel was optimistic about their prospects of either placing debt or equity into opportunities. View article…

Country Club Greens Apts Sells for $4M Clear Sky Capital, Inc. has purchased the 68-unit Country Club Greens apartment complex located at 350 W. 13th Pl. in Mesa, AZ for $4 million, or about $59,000 per unit. Country Club Greens was constructed in 1985 in the Mesa East submarket of Maricopa County. The property features nine one-bedroom and 59 two-bedroom units with asking rents between $607 and $707 per month. View article…

Westover Parc Sells for $5.3M Madison Realty Capital GP LLC sold the Westover Parc, located at 6515 W. McDowell Rd. in Phoenix, AZ, to Murray Hill Developments for $5.3 million, or about $54,000 per unit. The 99-unit multifamily complex totals 182,640 square feet. It was built in 2001 and renovated in 2007. Of the 99 units, 59 are one-bedroom, 35 are two-bedroom, and five units have three bedrooms. The occupancy was about 95 percent at the time of sale. View article…

Basis to build charter school in Mesa’s Eastmark community Scottsdale-based Basis Schools Inc., the company behind some of the nation’s most highly-ranked charter schools, will break ground next month on the first educational facility at the Eastmark master planned community in Mesa. The new campus, dubbed Basis Mesa, will be comprised of about 41,000 square feet and situated on a roughly 4.5 acre-lot near the northeast corner of Ellsworth and Ray roads, said Jeffrey Houser, director of the finance division for Basis Educational Group, the management arm of Basis Schools Inc. View article…

Arizona Mills set to welcome O’Neill, Conn’s, expanded H&M Shoppers at the Arizona Mills outlet mall in Tempe will see some expanded offerings and new stores this year. The Tempe shopping center will be home to first-in-market locations of retailers O’Neill, Conn’s and Shoe Palace, as well as an expanded H&M opening next month. View article…

Wages rise more quickly in Arizona than across nation Employment and wages across Arizona increased in the second quarter of 2012 over the same period a year earlier, according to new numbers released by the U.S. Bureau of Labor Statistics. From June 2011 to June 2012, employment in Maricopa County saw a 2.8 percent bump, which was one point higher than the national increase of 1.8 percent. View article…

HOUSING:
Survey: 80% of Strategic Defaulters Want to Return to Homeownership The American Dream of homeownership has been resurrected among strategic defaulters, a foreclosure agency stated in a recent report. After surveying previous clients, YouWalkAway.com found nearly 80 percent expressed a desire to purchase a new home again within the next 12 months. YouWalkAway.com explained it’s common for previous customers to desire homeownership since interest rates are low and home buying lessons have been learned. View article…