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Daily News for Commercial Real Estate & Business – January 4, 2012

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

Casa Grande industrial facility sells for $5.25 million Becknell Industrial has purchased the 100,000-square-foot Graham Packaging building in Casa Grande for $5.25 million. Cassidy Turley BRE Commercial announced the sale. It was from an entity controlled by Cal Cap Advisors of California to Illinois-based Becknell, an industrial development and investment company View article…

McCormick & Schmick’s closes both Arizona restaurants McCormick & Schmick’s locations in Phoenix and Scottsdale closed abruptly today after the company was recently purchased by Landry’s Seafood Restaurants Inc. Kris Guthrie, vice president of marketing for Landry’s Inc, said, “it was a strategic corporate decision to close these locations. We are assessing the market for new opportunities to grow our brand.” View article…

Sky Zone trampoline park opens in Peoria A new business just bounced into a storefront near Loop 101 and Cactus Road in Peoria, just in time for 2012. Sky Zone, an indoor trampoline park that opened Wednesday, will hold a New Years Eve celebration for anybody age 16 and older. The party gives teens the opportunity to come in and jump on more than 125 trampolines as the clock strikes midnight. The cost is $15 and includes two slices of pizza and a soda. Sky Zone’s 28,000 square-feet building, at 9040 W. Larkspur Drive, Suite 134, also includes five courts that offer activities such as dodgeball and basketball, according to Rhonda Verona, a spokeswoman for the new business. View article…

Silicon Valley Bank plans 220 new jobs with move to Tempe Silicon Valley Bank, the commercial banking division of Santa Clara, Calif.-based SVB Financial Corp. (Nasdaq:SIVB), announced Tuesday it will open an information technology and operations facility in Tempe this year. SVB, which has 26 U.S. offices, specializes in providing capital and financing to entrepreneurial companies ranging from startups to multibillion-dollar corporations. View article…

Inflated Taxes Threaten Phoenix Property Owners As 2012 begins, the real estate collapse ravaging Phoenix continues. Phoenix real estate prices have fallen from their height in early 2008 by 28 percent for retail, 52 percent for industrial and 71 percent for office, according to Navigant Capital Advisors, a Chicago-based investment bank. Phoenix ranks No. 7 on Real Capital Markets’ list of the most distressed U.S. markets for commercial real estate. The city’s delinquency rate for commercial mortgage-backed securities (CMBS) loans is the third-highest in the nation, accounting for 3.6 percent of total U.S. CMBS delinquencies. And Phoenix’s delinquency count is expected to increase next year. View article…

Home Prices Continue to Slide in Case-Shiller Index Data released last week by Standard & Poor’s indicates the fourth quarter of 2011 started with broad-based declines in home prices. The 20-city composite of S&P’s closely watched Case-Shiller index was down 1.2 percent in October versus September, while the 10-city composite reading registered a 1.1 percent drop. View article…

SAMPLE OPPORTUNITIES:
Bella Vista Retail Center – 10.5% Cap Rate!
Investment, multi-tenant retail center. For a brochure, click here…

5051 & 5057 E Thomas Road – Former Dentist Office and Former Real Estate Office For Sale. For a brochure, click here…

Kokopelli Springs in St. David, AZ – Investment, 56 unit mobile home park. For a brochure, click here…

7320 N Dreamy Draw – Freestanding Office Building in Squaw Peak Corridor-great owner/user opportunity. For a brochure, click here…

Feel free to contact me regarding any of these stories, the current market, distressed commercial real estate opportunities or your property.