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Commercial Real Estate & Business News – January 18, 2013

Make sure you sign up for the CCIM/IREM 2013 Economic Forecast. It is next week (Thursday, January 24th, 2013) at the Tempe Center for the Arts. There is a great line up of speakers. For more info and to sign up, click here…

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

To view the January 2013 Multifamily Executive magazine, click here…

MESA TRACT TOTALING 610 ACRES ASSEMBLED BY GERMAN-BASED INVESTOR FOR $23.84 MILLION A German-based investment firm, with offices in San Diego, Calif. and Chicago, Ill., paid $23.84 million in cash to assemble 610 acres located east of the Williams Gateway Airport in Mesa. The land is within an area once called the Williams Trade Zone, a special district that allowed property and sales tax incentives to property owners and businesses operating in the area. Most of the land is now being farmed and is located at the southwest, northeast and northwest corners of Pecos and Ellsworth roads. Maricopa County records show the buying entity in three separate transactions was Buckeye Casa Grande L.P., a limited partnership formed by Sunbelt Investment Holdings in San Diego, Calif. (Michael Holmes, pres.). Sources say that company is owned by a private family based in Germany. View article…

BIMBO BAKERIES ACQUIRES 29-ACRE SITE IN GOODYEAR TO DEVELOP FOOD PROCESSING FACILITY Bimbo Bakeries USA Inc. in Horsham, Pa. intends to hire 100 employees in a new food processing facility planned in Goodyear. Bimbo Bakeries USA, the nation’s largest baking company, paid $5.225 million to buy a 29-acre parcel at the southeast corner of Cotton Lane and Minnezona Avenue. The seller was RP PV I LLC, a company formed by Sunbelt Holdings Inc. in Scottsdale (John Graham, pres.). View article…

DECO COMMUNITIES KEEPS ROLLING . . . FORMS VENTURES TO BUY TWO APARTMENT PROJECTS Two ventures formed by Deco Communities LLC in Scottsdale (Rob Lyles, Patricia Watts, Dan Richards, principals) paid a combined $18 million to buy 347 apartment units in projects in Tempe and Phoenix. The sellers in both transactions were companies formed by TGM Realty Partners in New York City, N.Y. (Thomas Gochberg, pres.). View article…

Canyons Complex Sells for $50M Phoenix-based apartment developer and manager Alliance Residential Co. recently spent more than $50 million for a large apartment complex in north Phoenix the firm’s first purchase of an existing multifamily project in more than five years. The Canyons is a 629-unit apartment project located near the interchange of the I-17 and Loop 101 in the Deer Valley area. According to the Phoenix Business Journal it was sold at 94-percent occupancy by Denver-based Continental Realty Advisors, which had owned the project for about two years. View article…

HOUSING:
Arizona foreclosures drop in 2012 A new report finds Arizona continues to creep out of the housing slump. RealtyTrac’s year-end report showed the state’s foreclosure rate last year dropped 33 percent from 2011. The numbers fall in line with the rest of the country, said company vice president Daren Blomquist. View article…

Foreclosures Declined in 2012, Increases Expected in 2013 Foreclosures declined in 2012 compared with the previous year, but RealtyTrac expects this year to be “book-ended by two discrete jumps in foreclosure activity,” according to the firm’s latest report released Thursday. Foreclosure filings were doled out to 1.84 million homes in 2012, which is 3 percent fewer homes than in 2011 and 36 percent below the foreclosure peak in 2010 when 2.9 million properties received foreclosure filings. View article…