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

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

To view the April 2012 Scotsman Guide commercial edition, click here…

Phoenix Premium Outlets lands Saks Fifth Avenue as anchor tenant The Phoenix Premium Outlets now under construction on the Gila River Indian Community will be anchored by a Saks Fifth Avenue OFF 5th store, executives said Tuesday. A Simon Property Group project, the center is now under construction and is expected to open in 2013. It will feature 90 stores across 360,000 square feet. View article…

Economic recovery won’t fix glut of East Valley retail space The depth of the Great Recession was front and center in the daily lives of East Valley residents as storefront after storefront emptied out of the area’s countless and prominent shopping centers. But as a recovery shows signs of gaining strength, those retail centers aren’t likely to come back to life at the same pace as the overall economy. And some will never rebound. The problem begins with the East Valley’s retail vacancy rates. They’re the highest in the Valley. View article…

NE Mesa apartments proposal moves ahead An earth-friendly northeast Mesa apartment complex appears headed for City Council approval after the developers agreed to make more space for cars. The council voted unanimously Monday to introduce a zoning ordinance to accommodate Verde Dimora apartments on 5.3 acres northeast of Power and McKellips roads. Developer Dan Kauffman believes the complex’s proximity to the Red Mountain campus of Mesa Community College, transit lines and jobs will make residents less likely to drive for their daily needs. The complex will even provide bicycles to residents. View article…

Peoria council leans toward not funding Northern Parkway For a second year, the Peoria City Council is leaning toward keeping the Northern Parkway project off its long-term capital plan, which means the city could fall behind in paying its share of the project. The city is expecting a $2.5 million bill for the current fiscal year, which it would not be able to pay because the project was not approved by the council, according to Peoria’s engineering director, Andy Granger. View article…

APS, Arizona State Land Department agree on solar project Arizona Public Service Co. and the Arizona State Land Department have reached an agreement on a 35-megawatt solar power plant to be built near Yuma. The move, which would have APS lease the land for 35 years at a cost of $10 million, would be the first solar project built exclusively on state trust lands. 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…

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.