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Daily News for Commercial Real Estate & Business – July 25, 2012

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

Tempe Warehouse Sale/Leaseback Transaction Nets $2.66 million A Tempe warehouse at 415 W. Guadalupe Rd., sold for $2.66 million as a sale/leaseback investment transaction. Price per square foot was recorded $102.64. Englewood, New Jersey-based Bonakap Arizona LLC was the seller and Net Lease Holdings of St. Louis, MO was the buyer. OSG Billing Services will continue on as the tenant. View article…

DESERT VISTA COMMERCE CENTER RECEIVES $5M Desert Vista Commerce Center, a 98,687-square-foot office and flex industrial building in Tempe, has received $5 million in first-mortgage refinancing. The building is located on South Hardy Drive. The 10-year, fixed-rate loan was arranged by Shari Stults of NorthMarq Capital’s Phoenix office through the firm’s relationship with a correspondent life insurance company. View article…

Apartment Realty Advisors Closes Two Multifamily Deals in Phoenix Totaling $14.7M ARA recently arranged the sale of Palm Aire Apartments, a 186-unit community and Casa Verde Apartments, a 488-unit community, both located in Central Phoenix, AZ. Brad Goff, Principal, and Senior Vice President, David Lord, represented the seller in both transactions. Both properties were acquired by California-based SAFCO Capital for a total of $14.7 million. View article…

Mountain Shadows owners turn to bankruptcy court to settle dispute After nearly a decade of locking horns with the Paradise Valley Town Council, nearby residents and banks, the owners of the now dormant Mountain Shadows Resort are now looking to the bankruptcy court to settle the dispute and allow the resuscitation of the property as outlined in a 1992 agreement with the town. View article…

Arizona gets two sites in Interior Department solar zone program Arizona will have two sites to develop solar energy on federal lands, but it represents the smallest allotment in a program designed to speed up utility-scale project development. The U.S. Department of the Interior released a finalized list of potential solar energy sites under the Solar Energy Development Program in six Southwestern states, settling on 17 sites on 285,000 acres. View article…

Maricopa County Completing Solar Energy Project; Largest Solar Installation Downtown Maricopa County is building what will become the largest solar array installation in Downtown Phoenix, putting photovoltaic solar panel systems on three county-owned facilities this summer. Once installed, more than 5,000 solar panels will produce enough energy to power 169 homes annually and offset gas emissions from 266 passenger cars every year. View article…

U.S. proves land of opportunity for international concepts Last month billionaire magnate Steve Wynn spent $15 million to acquire a 43-percent stake in the Sydney-based brand Pie Face. Although the 7-year-old sweet and savory pie concept already could count 75 outlets in Australia, its sole U.S. branch had been operating in New York for only a few weeks before Wynn officially sealed the deal.? The Las Vegas casino operator, however, apparently felt an opportunity had opened before him. View article…

HOUSING:
When is Moving Day? Population Trends Affect Phoenix Real Estate Recovery
Real Estate Roundtable: The Phoenix real estate market has been showing signs of life, but a panel of experts warns that a full recovery is unlikely until around 2015. Listen to the podcast…

Phoenix area housing market sees signs of health The rapid run-up in Valley home prices this year could signal that the long-awaited housing recovery is finally happening. Metro Phoenix’s median home price has shot up more than 30 percent in the past year. The number of houses for sale is at a six-year low, and realistically priced homes are drawing dozens of offers, mostly from investors. View article…

Prices See First Yearly Gain Since 2007, Foreclosures Wane: Zillow For the first time since 2007, home values saw year-over-year gains in the second quarter of 2012, according to the Zillow Home Value Index. The index showed homes increased in value by 0.2 percent to $149,300 from last year’s second quarter. Additionally, values have increased for the fourth month in a row. View article…

Zillow: Phoenix home prices up 12% to lead nation U.S. home values have posted their the first year-long gain since 2007, and the rapid rebound of the metro Phoenix housing market once again far outpaced anywhere else in the country, according to a new report released Tuesday by Zillow Inc. View article…

Check out the Market Reports section of my webpage! The market reports that I review on a regular basis will be archived here. I would like to know your feedback after looking at the page. Send feedback by click here…

CURRENT FOR SALE OPPORTUNITIES:
Bella Vista Retail Center (IN ESCROW-ACCEPTING BACK UP OFFERS)
Investment, multi-tenant retail center. For a brochure, click here…

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…

Former TDC Corp HQ – 6515 S Rural Road, Tempe, AZ (IN ESCROW-ACCEPTING BACK UP OFFERS) – Former Corporate HQ for TDC in Tempe, AZ For Sale. 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…

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