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Daily News for Commercial Real Estate & Business – June 11, 2012

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

Clear Energy Breaks Ground on 158,000-SF Manufacturing/Office Building Six months after announcing a $10 million investment in a manufacturing plant, Clear Energy Systems Inc. officially broke ground June 7 on the 158,000-square-foot, build-to-suit facility in the 53-acre Elliot Business Park. The facility’s scheduled completion will be February 2013, at which time Clear Energy, which manufactures natural gas-powered generators, will commence its long-term lease with Elliot Business Park owner Tempe MarketPlace Commerce Associates LLP. View article…

Ann Taylor concept store coming to Kierland Commons A new Ann Taylor concept store is scheduled to open at Scottsdale’s Kierland Commons August 17. This will be Ann Taylor’s second concept store in Arizona. The first opened last summer at Chandler Fashion Center. View article…

Stadium Lofts in downtown area stalls Continental Group’s Bristol Stadium Lofts, a $100 million-plus apartment complex planned along Miller Road, has made no progress in Scottsdale’s planning approval process since it was submitted more than a year ago. The developer wants to build the complex on a 1.89-acre lot that now houses four vacant buildings west of Miller and north of Osborn Road. View article…

Old Town Peoria’s Wagoner Plaza 1 reopens Wagoner Plaza 1 in Old Town Peoria celebrated its grand reopening this week. Wagoner Plaza 1, on the southwestern corner of 84th and Peoria avenues, is the first phase to be completed through the Old Town Commercial Rehabilitation Program. About $1.2 million in city funds was used for the improvements. View article…

Beauregard closes in Peoria, owner returning to Nashville Dan Brinton is going home. That’s great for his family, whose members are looking forward to moving back to Brinton’s hometown of Nashville. But it’s a loss for Peoria foodies and fans of Louisiana cooking who recently saw the closing of his restaurant, Beauregard Food Co. View article…

Downtown Gilbert art gallery has uncertain future Less than three years after opening, Gallery 225 in Downtown Gilbert’s Heritage District is struggling to stay afloat. But rather than closing outright, owner Mary Ellen Fresquez is considering options for a solution. Fresquez has an eclectic collection of handcrafted fine art and craft from more than 100 artists, a majority of whom are from the Southeast Valley. View article…

New Scottsdale Airpark restaurant will further snarl lunchtime traffic A new restaurant coming this summer to a Scottsdale Airpark shopping center will further snarl traffic where lunch-hour congestion is the daily special. The Pei Wei Asian Diner is set to open in mid-September at 8700 E. Raintree Drive on the southeastern edge of the Kohl’s department store parking lot. It is a welcome lunchtime option for the area northwest of Loop 101 and Raintree. View article…

The Top 5 solar power installations in Phoenix A solar installation project at Sky Harbor International Airport capable of producing 5.4 million watts of power was ranked the top such project in a list in the Phoenix Business Journal out on newsstands today. The project was installed by Empire Southwest LLC in a joint venture with Austin Commercial. View article…

Glendale taking heat for private meetings over Coyotes deal The city of Glendale came under heat Friday for holding numerous private meetings rather than more public hearings on its 20-year, $300 million proposed arena management outlay to prospective Phoenix Coyotes buyer Greg Jamison. View article…

CRE Investment is Not a DIY Game For high net worth individuals looking for an attractive investment vehicle, commercial real estate currently offers many advantages, including attractive returns compared to other asset classes and a hedge against inflation. There are myriad ways to build up a real estate portfolio, including through sponsoring acquisition funds, buying REIT shares and investing in notes secured by commercial assets. But commercial real estate professionals caution high net worth individuals against assuming direct ownership of properties. They suggest working with experienced advisors instead. View article…

Demographics, New Assumptions Drive Commercial Real Estate A turning point has been reached in the economy and both demographics and the assumptions that traditionally drove the commercial real estate industry are shifting. But while economists speaking on a panel at the Strategic Real Estate Conference held in New York this week agreed that this is a time of incredible change, they also see opportunity. Panel moderator Gunnar Branson, the Chicago-based president and CEO of the National Association of Real Estate Investment Managers, began the discussion by noting that people’s living space has switched from the office to the home since the 1970s. View article…

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

+/- 43,000 SF Leased Industrial Building in Southern Gardens – Single Tenant Investment opportunity. For more information, click here…

2 Industrial Condos in Bahia Business Park (UNIT 104-IN ESCROW – 105 Still available) Owner/User opportunity to purchase 1 or both 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.