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Daily News for Commercial Real Estate & Business – February 8, 2012

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

YouFit Health Clubs continue expansion with Chandler location Pompano Beach, Fla.-based YouFit Health Club is expanding in the Valley. Founder Rick Berks has facilities in the Valley and plans to open another six to eight across the region this year, including one in Chandler next month. Each facility costs about $1 million. View article…

ASU, Chandler to open tech center Arizona State University and the city of Chandler are joining forces to convert a 32,600-square-foot city building into a technology-innovation center. Scheduled to open in August, officials envision that by 2015 up to 1,000 students a year could pass through the Chandler Innovation Center, with many of them coming from the university’s Polytechnic campus in Mesa to work with local businesses on research projects. View article…

Elevated McDowell Road park gets discussion Public relations guru Jason Rose and Scottsdale architect Doug Sydnor are promoting an idea to create an elevated park along the McDowell Road corridor in Scottsdale. Details of the potential plan will be unveiled at a town hall meeting Wednesday at SkySong, 1475 N. Scottsdale Road, Suite 200. The presentation starts at 6 p.m. View article…

BofA could sell more office buildings Bloomberg reports Bank of America (NYSE: BAC) could sell all of the office property it owns except for its principal offices in Charlotte and New York. The news follows the bank’s announcement last week that it will sell the Hearst Tower and Fifth Third Center in Charlotte, a story theCharlotte Business Journal reported in October. View article…

Renewable energy a $2B industry in Arizona; employment impacts 16K Solar industry job figures have always been tough to find, but a new study released Tuesday by Elliott D. Pollack and Co. pegs the state’s nascent industry as providing about $2 billion to the economy and touching about 16,000 jobs. View article…

Phoenix ranks near bottom for post-recession private-sector job growth The Phoenix metro area ranks No. 96 out of the nation’s top 100 in terms of private-sector employment levels during the past five years as the city is still mired in job losses piled up during the Great Recession. View article…

Cole Unveils Non-Listed REIT With Greater Transparency In December, Cole Real Estate Investments launched its latest investment offering: the Cole Real Estate Income Strategy (Daily NAV) Inc. What makes this non-listed REIT different from other offerings is the lengths Cole has gone to create greater transparency with Daily NAV. A frequent criticism of non-listed REITs is that they are difficult investments to value and exit, making this type of investment less liquid than other options. View article…

Sustainability of Rent Momentum Is Uncertain In 2010 and 2011, rents went up 2.3 percent and 4.7 percent across the country, according to Carrollton, Texasbased rental data provider MPF Research. However, during that same time frame, wages jumped only 2 percent from the third quarter of 2010 to the third quarter of 2011, according to the Bureau of Labor Statistics. That’s led a number of industry observers to ask an obvious question: How long can rent growth continue without an improvement in wages? 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.