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Daily News for Commercial Real Estate & Business – April 23, 2012

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

Former RBI Headquarters Building Sold Homer Savard, CCIM and Dave Verwer, CCIM exclusively represented Show Appeal (Buyer) in the acquisition of the former Retail Brokers, Inc (RBI) office building on Indian Bend Road. Show Appeal plans to relocate to the office building from another location in Tempe. They paid $1,215,000 for the property. View article…

Calistro California Bistro opens second Scottsdale location Calistro California Bistro Executive Chef and Owner Devin Walsh has opened a second restaurant. The new restaurant is located at 6107 N. Scottsdale Road in the Hilton Village shopping center and joins the existing restaurant located at 18221 N. Pima Rd in the DC Crossing area of Scottsdale. View article…

Apartments to replace vacant medical offices in Scottsdale A vacant medical plaza is set to be demolished to make way for a 264-unit apartment complex northwest of Scottsdale Road and Lincoln Drive. In January, the Scottsdale City Council approved a zoning change to allow the mixed-use development, named Broadstone on Lincoln. The Development Review Board this month approved the site plan, architecture and design of the complex. View article…

Mesa Monsterland Bar and Grill taking giant step forward For Monsterland, Friday the 13th was anything but unlucky. The horror-themed restaurant and nighttime hot spot had its grand opening last week, attracting nearly 1,400 people on Friday and Saturday. It was a strong opening, but the restaurant is still working on finding the silver bullet that will ensure success. View article…

Scottsdale City Council clears way for beach club The Scottsdale City Council this week cleared the way for development of a new beach club in the city’s entertainment district. Two applications related to the proposal submitted by property owner Shawn Yari gained council approval Tuesday despite initial objections from other businesses in the area. Two nearby property owners — PS Investment LLC and Shoeman LLC — had filed legal protests to force a 6-1 supermajority council vote for approval of the applications. View article…

Phoenix council OKs land purchase near Sky Harbor Airport The Phoenix City Council has approved spending $4.5 million to buy a contaminated piece of land near Phoenix Sky Harbor International Airport for a parking lot for airport employees. The purchase price, authorized on a 6-3 council vote Wednesday, is about $1 million more than the appraised value. Council members Sal DiCiccio, Bill Gates and Jim Waring voted against the deal. View article…

Big-ticket projects are on the Mesa City Council agenda With one vote Monday night, the City Council is expected to approve spending millions for public-works projects across the city. The items are on the consent agenda for the meeting at 5:45 p.m., 57 E. First St., meaning there won’t be any discussion unless someone specifically requests it. The biggest price tag, more than $4.7 million, is for roadwork and utilities along Signal Butte and Elliot roads. View article…

Six Questions for Kurt Rosene, Alter Group Alter Group is a national corporate real estate development and investment company. GlobeSt.com asked Kurt W. Rosene, Alter Group’s western regional office senior vice president, national development, to discuss the company’s commercial real estate development and management partnership with the local Salt River Pima-Maricopa Indian Community. View article…

Top 10 exclusive apartment complexes in Phoenix The Phoenix rental market for luxury apartments is the focus of the Exclusive Apartments list in today’s edition of thePhoenix Business Journal. The list ranks the top luxury apartment communities by maximum rent for a one-bedroom apartment. View article…

Gilbert plans expansion of Higley-Warner intersection Gilbert officials on Thursday announced plans for a new road-improvement project that will seek to alleviate a dangerous bottleneck along Higley Road near Warner Road and Loop 202. The construction, expected to begin in late 2013, will expand the intersection of Higley and Warner roads to include three through-lanes in each direction, dual left-turn lanes, right-turn lanes and a raised median, Assistant Town Engineer Edgar Medina said. View article…

Scottsdale hotels see rebound in March, average room rate tops $200 With Cactus League games each day and beautiful golf weather all month, March is the peak of the Arizona’s tourism season and data show hotel activity in the Valley’s main tourism hub – Scottsdale – is rebounding. View article…

Brookings report: Phoenix zoning laws help schools The Phoenix metropolitan area is not as segregated by restrictive zoning laws as most other major metro areas, according to a study released Thursday by the Brookings Institution Metropolitan Policy Program. View article…

RE/MAX Survey of 53 Metros Finds Home Prices Up Again According to a March 2012 housing report released by RE/MAX, home prices have risen for the second month in a row now on a year-over-year basis. The RE/MAX report included 53 metro areas and found the median price in March was $184,525, a 7.3 percent price increase from February, and a 5.8 percent increase from a year ago in March 2011. A consecutive increase on a year-over-year basis has not occurred since August 2010, according to the report. 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.