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Daily News for Commercial Real Estate & Business – April 18, 2012

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

SYWEST BUYS ARIZONA RETAIL PORTFOLIO FOR $121.7 MILLION SyWest Development has purchased a three-property retail portfolio in the Phoenix area for $121.7 million. The portfolio included Casa Paloma, a 130,422-square-foot shopping center in Chandler, for $31 million; Warner Ranch Plaza, a 155,489-square-foot center in Tempe, for $26 million; and the Shoppes at Gilbert Commons, a 415,400-square-foot shopping center in Gilbert, for $64,777,000. All three properties were purchased by affiliates of SyWest from Donahue Schriber. View article…

Scottsdale Office Bldg Sells for $2.1M New River Sod Company of Arizona sold the office building located at 8630 E. Via de Ventura in Scottsdale, AZ to Arizona Sports Medicine Center for $2.1 million, or approximately $102 per square foot. The 20,980-square-foot building is situated on a 1.2-acre parcel and was built in 1985. in Maricopa County. View article…

Gilbert 300-unit apartment plan doesn’t wow town planners A developer’s plan to build 300 apartments in Gilbert’s Spectrum community near Val Vista Drive and Pecos Road failed to impressed town planners at last week’s Design Review Board meeting. The proposed complex would sit on the northwestern corner of a major intersection in one of Gilbert’s signature areas, which includes Mercy Gilbert Medical Center, the town’s auto mall and the partially developed Main Street Commons mixed-use project, planners said. View article…

Kierland adds Everything But Water swimsuit shop Guests staying at Northeast Valley resorts who forgot their swimsuits won’t have to look far for options. Everything But Water has opened its third location in the area, at Kierland Commons, Greenway Parkway and Scottsdale Road in northeast Phoenix. Other area locations are at Paradise Valley Mall, Cactus Road and Tatum Boulevard in northeast Phoenix, and Scottsdale Fashion Square, Camelback and Scottsdale roads. View article…

First Solar to shut German facility, lay off 2,000 First Solar Inc. announced this morning it will close its German facility, slow production in Malaysia and lay off about 2,000 employees in a major restructuring at the panel manufacturer. Tempe-based First Solar (Nasdaq: FSLR) said it will close the Frankfurt (Oder) facility because the European solar market has deteriorated with countries reducing their incentive programs. It also will close four of the 24 Kulim, Malaysia, production lines. View article…

Opinion: ASU’s plans for stadium remodel beg answers to questions Arizona State University has finally released its vision of a revamped Sun Devil Stadium, and there is a lot to like. The stadium would offer much-needed shade and creature comforts. But the renderings raise more questions than answers. The design would remove seats to offer more legroom, which could improve the fan experience. But it’s unclear how that would impact attendance at ASU home games. View article…

Co-Star: Retail real-estate sector posted positive net absorption in first quarter The retail real estate sector posted positive net absorption, a stable vacancy, and a near-stabilization of rent for the first quarter of 2012, according to the latest research from CoStar Group. For the first quarter, vacancy nationally was unchanged at 7%, compared with 7.3% one year earlier. View article…

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

+/- 43,000 SF Leased Industrial Building in Southern Gardens – Single Tenant Investment opportunity. For more information, click here…

2 Industrial Condos in Bahia Business Park – Owner/User opportunity to purchase 1 or both industrial condos. For more information, click here…

Former TDC Corp HQ – 6515 S Rural Road, Tempe, AZ – Former Corporate HQ for TDC in Tempe, AZ For Sale. For more information, click here…

5051 & 5057 E Thomas Road – Former Dentist Office and Former Real Estate Office For Sale/Lease. 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…

6677 W Thunderbird – BANK OWNED – Grey shell office condo in Glendale. For a brochure, click here…

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

2 Acres of Land – Owner/User opportunity to purchase 2 acres of land off of I-10 & 40th Street. For a brochure, click here…

3.64 Acres of Land – BANK OWNED – Infill Development opportunity in Surprise. 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.