Daily News – September 23, 2009

Here are the news stories you might find interesting today:

Petrus Partners Filling Up on Residential Lots

GOODYEAR, AZ-Heretofore an investor in office and industrial properties, the New York City-based firm acquires 163 finished lots here at auction, taking its total to 1,380.

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E.V. shoppers await Barneys opening Oct. 15

Affluent shoppers in the East Valley have just a few weeks left until their mecca arrives at Scottsdale Fashion Square.

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Chandler eyes new site for biotech incubator

Chandler had the option of building a new multi-million dollar biotechnology business “incubator” at a Price Road site touted by Mayor Boyd Dunn this year, but an alternative arose that was too good to pass up.

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Valley leaders tout impact of tourism downturn

You don’t have to work at a resort or sell souvenirs to be hurt by the downturn in Arizona’s tourism industry, a group of Valley leaders said Tuesday.

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Cigna opens two southwest Valley clinics

Cigna Medical Group has opened a pair of walk-in medical clinics in the southwest Valley suburbs of Tolleson and Laveen.

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Go Daddy Group to hire 100 for local operations

Go Daddy Group Inc. announced it will hire about 100 people by the end of next month.

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Scottsdale updates green home rating system

The city of Scottsdale is holding a meeting to discuss updates to its green building rating checklist affecting designers, builders and remodelers.

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New IRS Law Provides Hope for CRE Loans in Need of Modification
New York–The IRS recently amended federal tax rules that will grant owners and developers of commercial real estate more flexibility in obtaining loan extensions and refinancing their mortgages. MHN asked Christopher (Chris) Hunter, a real estate expert with Bay Area law firm Morgan Miller Blair, about how this could help in diffusing the potential CRE loan crisis. This is what he had to say:

Avondale could become home to television, movie studio

Avondale won’t be confused with Hollywood anytime soon, but the Southwest Valley city could become the home of a television and movie studio project that could generate $300 million a year – and hundreds of jobs – once it is up and running.

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