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Daily News for Commercial Real Estate & Business – October 11, 2011

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

Scottsdale Airport Commission rejects apartment proposals The Scottsdale Airport Commission rejected three Scottsdale Airpark apartment proposals this week, fearing that nearby residents would complain about aircraft noise and push for flight restrictions. The commissioners recommended that the Scottsdale City Council reject all three apartment projects. Wednesday’s vote was 4-2 on all the apartment proposals, which include a combined 1,565 units. View article…

ANASAZI SOFTWARE LEASES 19,685 SF AT WARNER BUSINESS CENTER Anasazi Software has leased 19,685 square feet at the Warner Business Center in Tempe. The company will be expanding as it moves from 14,000 square feet at a building in Ahwatukee, Ariz. The move is set for January 2012, at which time the seven-year lease will commence. View article…

DT Spotlight: Tempe’s Open Source Project Draws Creative Types Following in the footsteps of collaborative workspace champion Gangplank in Chandler (and expanding to other cities) and the creative coworking space CO+HOOTS in Phoenix, Tempe’s Open Source Project is a magnet for creative entrepreneurs – and artists, musicians, and coffee drinkers in the Discovery Triangle. “We decided to be hands-off when we opened to let the community decide what this place should be,” said Michael Witham, co-founder of the coffee shop/workspace/arts venue/neighborhood hangout. View article…

Dominick’s Steakhouse opens at Scottsdale Quarter Dominick’s Steakhouse has opened at Scottsdale Quarter adding to Scottsdale’s inventory of high-end steak places. The restaurant’s full-name is Michael Dominick’s Lincoln Avenue Prime Steakhouse. View article…

Old Europe will be theme of new restaurant in Cave Creek The owner of the Hideaway Grill in Cave Creek is working on a new restaurant project just up the street from his popular bar. Mark Bradshaw plans to open the Cave Creek Tap Haus in November. The Tap Haus will take over the space once occupied by the Roadhouse, which opened in 2005. View article…

Work to start on renovating Phoenix retail center Developers are gearing up to renovate a retail complex on the northeastern corner of Seventh Avenue and McDowell Road, replacing at least two major tenants and updating the look of the center. Lawrence & Geyser Development began buying the property, in the Willo Historic District, piece by piece in 2006. Construction begins Monday. View article…

2 Banks Closed On Oct. 7 Two banks were closed on Friday, Oct. 7, by state and federal banking regulators. These failures bring the year’s tally to 94 failed institutions. View article…

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

5051 E Thomas Road – Former Dentist Office For Sale/Lease (Price Just Reduced) For a brochure, click here…

7320 N Dreamy Draw – Freestanding Office Building in Squaw Peak Corridor (New to market) 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.