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Daily News for Commercial Real Estate & Business – February 29, 2012

Happy Leap Year!

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

Developer eyes former Ducati property in Phoenix When developer Todd Chester looks at the former Ducati motorcycle dealership on the southwestern corner of Seventh Street and Montebello Avenue, he doesn’t see a dirty, dilapidated garage. He sees potential. The principal at WDP Partners is heading up the proposed transformation of the vacant commercial property into a mixed-use, multi-tenant project likely anchored by a Sam Fox restaurant. View article…

Broadstone buys 3.4-acre parcel at Scottsdale Waterfront Broadstone Scottsdale Waterfront LLC, a partnership between Alliance Residential Co. and J.P. Morgan Asset Management, has purchased a 3.4-acre parcel for $13.5 million at the Scottsdale Waterfront, just south of the southeastern corner of Goldwater Boulevard and Camelback Road, a broker involved in the deal said. View article…

Gilbert restaurant aims to be The Spot for busy people Over the decades, Brian Kingdeski has worked in a variety of dining establishments, from elegant restaurants to fast-food franchises. He has owned sub shops and pizzerias but always had something a little different in mind. “I’ve always had a passion for the restaurant business,” Kingdeski said. “And like a lot of people with that passion, I wanted to do my own thing.” View article…

5,700 apartment units planned for Scottsdale A condominium-development bust in Scottsdale has given way to a boom of developers lining up to build 5,700 apartments in 18 projects citywide. Optima Sonoran Village is the first project to get its building permits and start initial site work for a 10-acre property southeast of Camelback Road and 68th Street. Optima is primarily a condo development with rental units available, spokeswoman Susan Bitter Smith said. View article…

FALLAS DISCOUNT STORES EXPANDS IN ARIZONA Velocity Retail Group has been hired to lead the expansion program for Fallas Discount Stores in Arizona. Velocity has already been working with Fallas for nearly two years in New Mexico. National Stores, Inc. is the parent company and is a family-owned, family-oriented company that was established in 1962. View article…

Gangplank companies getting a little help from their friends It’s Week 2 of Roadmap to Launch, an acceleration program held at Gangplank in Chandler for people who want to start businesses. Gangplank is a collaborative workspace, and Stealthmode is one of nine anchor tenants. No one pays to be at Gangplank, so our company contributes “social capital.” Among other things, we volunteer to run its 90-day program to get local startups ready to launch. View article…

HOUSING:
Life After Case-Shiller Report: Projecting Trends While the Case-Shiller indexes reported new lows for house prices for the end of 2011, responses from analysts are mixed when determining what the data means for home values in the long run. Experts representing Capital Economics, IHS Global Insight, and Standard and Poor’s assessed the implications of the data for the future. View article…

Case-Shiller: Phoenix home prices leveling off Phoenix-area home prices declined 1.2 percent at the beginning of 2012 as compared with a year earlier, according to information released today by S&P /Case-Shiller. Local home prices improved very slightly last fall, an average of about 0.8 percent from November to December and 0.4 percent from October to November. The data is based on Case-Shiller’s proprietary indices and composites. View article…

SAMPLE OPPORTUNITIES:
Bella Vista Retail Center – (BACK ON MARKET) Investment, multi-tenant retail center. For a brochure, click here…

5051 & 5057 E Thomas Road – Former Dentist Office and Former Real Estate Office For Sale. For a brochure, click here…

Kokopelli Springs in St. David, AZ – Investment, 56 unit mobile home park. 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…

2 Acres of Land(NEW LISTING) Owner/User opportunity to purchase 2 acres of land off of I-10 & 40th Street. 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.