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Commercial Real Estate & Business News – November 20, 2012

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

Arrowhead Health Center satellite facility sold for $3M Arrowhead Health Center’s 11,350-square-foot satellite facility in Scottsdale has been sold in a sale-leaseback deal to a private Florida investment firm for $3.3 million, according to a statement Monday from Lee & Associates Inc. View article…

Chicago developer hit with $37M judgement over loan for Phoenix high-rise A Chicago developer has been slapped with a $37 million judgment in Maricopa County Superior Court after being sued over an unpaid construction loan that erected The Summit at Copper Square condominium high-rise in downtown Phoenix. On top of the multi-million dollar judgment, W Developments LLC and four of its entities — W Developments Arizona LLC; W Developments Commercial Arizona LLC; The Summit at Copper Square LLC; The Summit at Copper Square Commercial LLC — were also ordered to pay the plaintiff, Urban Commons Summit LLC, $15,000 in attorney’s fees, according to court records obtained by the Phoenix Business Journal. View article…

Vacant Phoenix lot transformed into garden Hundreds of trees have been moved into a 15-acre vacant lot at Central and Indian School next to Steele Indian School Park and a future food garden land has been tilled up for Phoenix Renews. Jim Burke with the city of Phoenix said the project is a partnership between Keep Phoenix Beautiful and property owner Barron Collier Companies. View article…

Valley Metro sets record for ridership in one month Over seven million riders boarded the Valley Metro system in October, setting a new record. In total, 7,080,564 boardings were recorded in October, up 10 percent than the same month in 2011. Valley Metro said the increase was aided by the Oregon-Arizona State University football game, when 65,000 boarding were recorded. View article…

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