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Daily News for Commercial Real Estate & Business – August 27, 2012

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

Scottsdale’s Bentley Gallery headed to downtown Phoenix Scottsdale’s Bentley Gallery is moving to downtown Phoenix. After 22 years, the gallery will relocate from its present spot at 4161 N. Marshall Way in Scottsdale to its Bentley Projects warehouse space at 215 E. Grant St. in Phoenix. The space will accommodate current staff and allow for future expansion. It will relocate at the end of October. View article…

Big Lots to return to Glendale’s Arrowhead area Discount retailer Big Lots is returning to the Arrowhead area, filling Glendale’s last vacant big-box space. Big Lots recently signed a lease for the former Ultimate Electronics building, at the northwestern corner of Bell Road and 75th Avenue. An opening date has not been set. View article…

Residents await revised plan for redeveloping site Residents living near the Saddle Mountain Plaza at 136th Street and Via Linda are awaiting a revised plan to tear down the dormant shopping center and redevelop the site with condominiums. The Concerned Citizens of Scottsdale Mountain opposed plans from Saddle 136 LLC that surfaced in January to build a 150-unit condo development on about 9.5 acres. View article…

New Tempe businesses give hope to Mill Avenue District’s future A weather report might describe the business forecast for downtown Tempe as partly cloudy with clear skies on the horizon. Between the lingering effects of the recession and competition from Tempe Marketplace, the Mill Avenue District has dealt with stormy economic conditions for several years. While some longtime business owners are still struggling, they are hopeful that a flurry of new businesses might draw more people to the downtown area and finally lift it out of its slump. View article…

Old Town Peoria fix proposed A renovated park and community center, a facade improvement program, and now possibly a new business association. The Old Town conundrum continues for Peoria leaders. Officials believe nothing less than an extreme makeover will help lift business and life in the city’s older area. Despite already pouring in millions of public dollars, Old Town just doesn’t have the appeal, at least yet, to draw investors. View article…

Rapid growth is fortifying ASU’s stature downtown Arizona State University will enroll its largest number of students this fall at its downtown Phoenix campus. And while some area businesses are excited at the potential for new business, some residents say they would like to see more community engagement from those connected to the campus. Nearly 10,000 students enrolled at ASU’s downtown Phoenix campus this fall compared with 9,367 students last fall. View article…

Density lowered again for proposed Mesa subdivision Developers of a contentious subdivision plan for the southwestern corner of McKellips and Crismon roads have reduced the number of proposed lots for the second time in response to vehement opposition from neighboring neighborhoods. Zoning attorney Ralph Pew, who represents landowner U.S. Development Land, presented a revised, 56-lot proposal at an east Mesa neighborhood meeting Tuesday. Developers in April had proposed to develop 80 lots on the 40-acre site, later revising that number to 68 lots in May. View article…

Arizona companies’ punch: Billions in profit, taxes and cash reserves At a time when governments everywhere are pressed for cash, Arizona’s public corporations paid or set aside roughly $5 billion for federal, state and foreign taxes over the past year — one of several measures attesting to their combined economic clout. Of the 42 public companies headquartered in the state that are tracked by The Arizona Republic, roughly two-thirds incurred a net tax expense over the past year, with most of those paying an effective rate of 35 percent or higher. View article…

Study: Amazon ranks as America’s favorite retailer Amazon.com, Trader Joe’s and Costco Wholesale Corp. came out on top with consumers in a survey by global strategy firm OC&C Strategy Consultants, Boston. Rounding out the top five were Zappos and iTunes. Respondents in the study, the OC&C Proposition Strength Index, rated retailers they had shopped at on the overall strength of their offer, and also on the following individual elements: low prices; value for money; fashionability; quality of products; wide choice of products; products that are suited to me; service; trust, and store look & feel (or, if online only, quality of website). View article…

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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…

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Feel free to contact me regarding any of these stories, the current market, distressed commercial real estate opportunities or your property.