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Daily News for Commercial Real Estate & Business – July 26, 2012

The Baby Reesa Benefit Golf Tournament is THIS FRIDAY! For more info, click here…

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

To view this weeks Costar Watchlist, click here…

To view the July 2012 Multifamily Executive magazine, click here…

Gilbert apartments sell to California firm for $28 million A California investment firm has bolstered its multifamily housing portfolio by doling out $28 million this month to acquire the Vista Montaa Apartments in Gilbert, according to a prepared statement released Wednesday by the Phoenix office of CBRE Inc., which represented the seller. View article…

Phoenix’s Select Top Industrial Sales for Q2 2012 The following is an account of the Phoenix market’s select top five industrial sale transactions for second quarter 2012. Industrial Income Trust, Inc. purchased 4747 W Buckeye Road and 4750-5050 W Mohave St. in Phoenix for $131.7 million. KTR Capital Partners LP was the seller. View article…

Phoenix’s Select Top Industrial Leases for Q2 2012 The following is an account of the Phoenix market’s select top five industrial lease transactions for second quarter 2012. Total Warehousing, Inc. renewed 358,830 square feet at 435 S 59th Ave. in Phoenix. The tenant did not have a broker in the transaction. View article…

Undeveloped-land meeting in Peoria A meeting will be at 6 p.m. Thursday to discuss Peoria’s proposed Sonoran Preservation Program to help determine the best use of undeveloped land. The session will be at Sunrise Mountain Library, 21109 N. 98th Ave., Peoria. City officials are seeking comments from the public, landowners and users of the city’s undeveloped land. View article…

Surprise AZ TechCelerator offers low rent, volunteers to grow budding businesses Matt Bullock, owner of Nova Mesa Computer Systems, toured some of the business incubators that have popped up around metro Phoenix. He landed in Surprise’s AZ TechCelerator because, he said, the city was as hungry as he was. “They seemed to have the most aggressive plan to make us grow,” Bullock said. “They are aggressively trying to make Surprise a technology city.” View article…

Gilbert, Mesa Applebee’s restaurants get makeovers Four Applebee’s restaurants in Gilbert and Mesa will soon be sporting new looks that include warmer color tones, a more contemporary design, and murals depicting their neighborhoods. The makeover includes new lighting as well as a paint job. View article…
Sonoran Bank merging with Kansas State Bank of Manhattan Sonoran Bank, which has six employees at one branch in Phoenix, is merging with Kansas State Bank of Manhattan. The two banks signed a definitive agreement in May, and all regulatory and shareholder approvals have been received, said Jim Vigars, president and CEO of Sonoran Bank. View article…

Big layoffs in Phoenix, U.S. may be ending The massive layoffs that dominated headlines in Phoenix and the U.S. during the past four years finally may subsiding, according to one local staffing firm. View article…

Several Price Indices Show CRE Values on the Rise Prices keep rising for commercial real estate properties, according to indices kept by top real estate firms – but not as quickly as in the years just after the crash. “There’s been a pause in the numbers,” said Jeffrey Havsy, director of research for the National Council of Real Estate Investment Fiduciaries (NCREIF). “People are waiting to see… We’ve had some economic uncertainty. Retail sales are sluggish.” View article…

Analysts debate possible housing bubbles in markets like Phoenix With many experts declaring a bottom has been reached in the struggling U.S. housing market, some have begun to speculate there are bubbles growing, including in Phoenix. CNBC reports that strong demand in places such as Arizona and others hard hit by the housing bust may be creating short-term gains that may not last. 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.