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Daily News for Commercial Real Estate & Business – August 16, 2012

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

Westport Buys 220,000-SF Agave Center Westport Capital Partners LLC acquired the 220,000-square foot Agave Center, boosting its Arizona portfolio to more than 670,000 square feet. With this commercial real estate transaction, the Southern California buyer now owns three single-story office buildings, a two-story office building, a flex industrial building and close to five acres of developable land. View article…

Tempe Industrial Bldg Sells for $2.6M OSG Billing Services sold the industrial property at 415 W. Guadalupe Rd. Bldg B in Tempe, AZ to Net Lease Holdings for $2,666,756, or about $103 per square foot. The 25,916-square-foot warehouse was built in 2002 on 1.5 acres in the Tempe Southwest Industrial submarket of Maricopa County. It is part of Kyrene Tech park at the southeast corner of Guadulupe and Kyrene Rd. It features 30 percent office build-out, 21-foot clear heights, a fenced yard and 1,200-amp heavy power. The seller signed a 12-year leaseback deal with the buyer. View article…

Scottsdale Chamber moving offices in September The Scottsdale Area Chamber of Commerce will move offices effective Sept. 4, the chamber announced today. The chamber will move from its location at 4725 N. Scottsdale Road Suite 210 to 7501 E. McCormick Parkway Suite 202-N. The chamber has been in its current location since 2005, but that building recently was sold to a new owner who has different plans for the property. View article…

As You Wish celebrates anniversary by opening sixth store Local paint-your-own pottery studio As You Wish will open its sixth location to celebrate 17 years in business. As You Wish will open its newest store with a two-day event Sept. 15 and 16 in Chandler. The location is next to the Harkins Theatres on the corner of Germann and Gilbert roads. View article…

Chandler below-market downtown rent plan has critics Chandler might lease a downtown property to a tenant for below-market rent, which concerns a prominent developer, a city official and a city councilman. The city owns the storefront at 51 E. Boston St., previously occupied by the antique and gift shop Blue Peacock. The Downtown Chandler Community Partnership wants to open a store there that is essentially an indoor farmers market, where vendors would sell produce, granola, salsa, candles, cupcakes, and arts and crafts. View article…

Consumer prices up in Phoenix over first half of 2012 Prices in Phoenix are up 1.6 percent through the first half of 2012, according to the latest Consumer Price Index data from the Bureau of Labor Statistics. Year over year, prices in the region have ticked up 2.8 percent, third highest in the country. View article…

Arizona lands 9 companies on Inc. 500 list Nine Arizona companies made this year’s Inc. 500 list of the fastest growing private companies in America, matching last year’s total. Arizona companies included on the 2012 list came from the health care, real estate, advertising and marketing, logistics and transportation, and business and consumer products and services sectors. View article…

Capitol Bancorp To Restructure in Bankruptcy Court The bank holding will remain in possession of its assets and properties, and continue to operate its network of banks in 10 states. In June 2012, Capitol commenced a voluntary restructuring plan, designed to convert existing debt to equity, which could help facilitate new equity investments in the corporation, as well as to help restore Capitol’s capital ratios and ensure its affiliate banks are adequately-capitalized. View article…

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CURRENT FOR SALE OPPORTUNITIES:
Former SunTykes Property in Tempe Arizona – Owner/User Opportunity. For more information, click here…

Freestanding Auto in Mesa, Arizona – Owner/User Opportunity. For more information, click here…

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

1 Industrial Condos in Bahia Business Park (UNIT 104-SOLD – 105 Still available) Owner/User opportunity to purchase 1 industrial condos. For more information, 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…

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.