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Daily News for Commercial Real Estate & Business – February 6, 2012

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

To view the February 2012 Scotsman Guide commercial edition, click here.

Former East Valley Bank Building Sold Nick Miner, CCIM, Dave Verwer, CCIM and Homer Savard, CCIM exclusively represented the seller of the former East Valley Bank building located at 1940 N Alma School Road in Chandler, Arizona. This was a Call For Offers marketing campaign that yielded several offers. View article…

BANNER HEALTH TO DEVELOP AMBULATORY CLINICS . . . ACQUIRES PARCEL IN CHANDLER Banner Health in Phoenix (Peter Fine, CEO) has acquired a site in Chandler to develop what is expected to be the first of several new ambulatory care medical clinics in the Valley. Banner Health paid just over $4.39 million to acquire a 18-acre parcel at the southeast corner of Alma School Road and Loop 202 in Chandler. The seller was Diversified Land Acquisitions LLC, a company formed by Lauth Group Inc. in Indianapolis, Ind. View article…

ARCHSTONE BULLISH ON MULTI-FAMILY IN VALLEY . . . TO BUILD 1,244 APARTMENTS IN 4 PROJECTS Archstone in Englewood, Colo. (Scot Sellers, CEO) plans to develop 1,244 apartment units in four Valley communities. In Chandler, the privately-held Archstone intends to build 398 apartments at the northeast corner of Arizona Avenue and Queen Creek Road. Sources say Archstone is buying that 22-acre parcel in a $3+ million deal set to close in August. The site is part of a 36-acre tract owned by HV & Canal LLC in Phoenix (Michael Lieb, principal). Archstone is looking for zoning approval in Tempe to develop 234 units at the northwest corner of Curry and Scottsdale roads. The company has agreed to buy that 8.23-acre site in a $8+ million deal set to close in August. View article…

Apartment complex slated for Plaza 777 in Scottsdale A four-story, 274-unit apartment complex would replace Plaza 777 on the southern edge of downtown Scottsdale under plans recently submitted. The proposed Bauhaus Flats & Studios would be built on 4.4 acres northeast of Scottsdale and Thomas roads and an adjacent three-quarter-acre parcel on 73rd Street. It would include about 10,000 square feet of commercial space. View article…

New Mesa store Lulubell brings exotic toys and art To Amy Del Castillo, her store doesn’t sell just toys — it sells art. Del Castillo is the co-owner of Lulubell Toy Bodega, a designer toy store at 128 W. Main St. in downtown Mesa. The shop opened in October after moving from Tucson. It specializes in limited-run T-shirts, books and collectible vinyl toys — usually Japanese figures not widely available in the U.S. View article…

Developers delay Goodyear Estrella Falls regional mall again Construction of regional shopping mall in Goodyear will be delayed for a fourth time, and developers are reluctant to offer any building timeline except to say they plan to break ground by the time a development agreement with the city ends in 2016. Estrella Falls is a planned 1.2 million-square-foot mall that would be built northwest of McDowell Road and Bullard Avenue. Previous plans included tenants such as Macy’s and Dillard’s. View article…

Southwest Valley hospitals expand to keep up with patient demand An increasing number of patients are prompting health-care leaders in the Southwest Valley to expand and build medical clinics in underserved areas despite the economic doldrums. Goodyear’s two hospitals plan to significantly increase their operations while eventually providing more jobs. View article…

MC Companies, Clark-Wayland form joint venture Scottsdale-based MC Companies and Phoenix-based Clark-Wayland have merged to create a joint venture called MC Clark-Wayland. The venture will focus mainly on development and construction of new multifamily projects in Phoenix and Tucson. View article…

Fluor to build 125 MW solar facility near Palo Verde Fluor Corp. will build a 125-megawatt photovoltaic solar facility in western Maricopa County in an area near other power plants, including Palo Verde Nuclear Generating Station. LS Power Group, through its subsidiary Arlington Valley Solar Energy II LLC, issued the contract, and financial details were not released. View article…

CallSource to hire 40 with move to Scottsdale Scottsdale investor and technology entrepreneur Mike Mueller has purchased CallSource Inc., a multifamily technology company based in Westlake Village, Calif. Mueller will move the company to Scottsdale, creating about 40 jobs. View article…

Real-estate experts in Arizona are guarded but hopeful No one at this year’s Urban Land Institute conference predicted when metro Phoenix’s housing market will rebound. The annual Arizona conference, where real-estate industry leaders convene and predict the market’s movements, has been the most important summit on Valley real estate since the beginning of the housing boom nearly a decade ago. But this year, the conversations and atmosphere were different. View article…

Economy Adds 243,000 Jobs in January, Unemployment Rate at 8.3% In a report released Friday morning by the Bureau of Labor Statistics that could be described only as the Republicans’ worst nightmare, the economy added 243,000 jobs in January – the strongest month-to-month gain since last March – as the unemployment rate fell to 8.3 percent. 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…

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