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Daily News for Commercial Real Estate & Business – June 20, 2012

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

Marcopa County Sheriff’s Office prepares new $92.5M headquarters Work has begun on a new $92.5 million headquarters for the Maricopa County Sheriff’s Office on a lot near Sixth Avenue and Jefferson Street as the law enforcement agency looks toward the end of its current lease in less than two years. View article…

Paradise Palms Multi-Family Sells in Phoenix The Lynd Company sold the Paradise Palms Apartment complex in Phoenix, AZ to California Capital Real Estate Advisors Inc. for $4 million or $28,300 per unit. The 88,831-square-foot complex is situated on 3.89-acres and located on the Southwest corner of N. Cave Creek Road & E. Grovers Avenue. The complex was reported 87 percent occupied at closing. View article…

Goodyear mulls spending $12.2 million to purchase office park Goodyear would spend $12.2 million to purchase an 11-acre office park that it currently leases as part of a proposal that would also expand the city’s library and give more room to a private university. The City Council this week discussed a plan to buy the Venida Business Park, an 89,000-square-foot office complex that is currently 60 percent filled by Goodyear municipal offices. View article…

House passes bill blocking planned Tohono O’odham casino near Glendale The House voted 342-78 Tuesday to pass a bill that bars the Tohono O’odham Nation from building a casino near Glendale. Opposed by the Obama administration, the controversial bill has little chance of passing the Democrat-controlled Senate. View article…

Downtown Scottsdale to get indoor-outdoor garden restaurant The owners of a small vacant lot along Goldwater Boulevard west of Scottsdale Road plan to build and open a restaurant there that has the “feel of a farmers market” with outdoor patio and garden. Last week, Robert Gutierrez and Scott King, principals of Sixty First Place Architects, submitted their proposal for Bishop Lane Urban Garden and Restaurant to Scottsdale’s planning department. The restaurant would be built on a small lot at 3600 N. Bishop Lane. View article…

Del Frisco’s Grille opens, pledges money to charity Del Frisco’s Grille, which opened its first Phoenix location at the Camelback Esplanade June 8, has pledged a $6,000 donation to the Society of St. Vincent de Paul over the next year. The restaurant is Texas-based Del Frisco’s Restaurant Group’s first concept to come to the Valley. The donation will come out of the new location’s budget. View article…

Amazon’s Impact in Square Footage In an effort to explore the impact of Amazon.com on brick-and-mortar retailer Best Buy, Suzanne Mulvee, senior real estate strategist with Boston-based Property & Portfolio Research, a CoStar company, created a graph that translates Amazon’s share of the electronics market into square footage. It turns out the online retailer has grown its footprint from one seventh of Best Buy’s store fleet to the equivalent of approximately 50 percent of its store fleet, or 20.1 million sq. ft., in just four years. View article…

One Million Renters Added in 2011, Married and Higher Income Renter Populations Grow, New Report Shows One million. That’s the number of new rental households the U.S. added in 2011, according to “The State of the Nation’s Housing 2012” report, released today from the Joint Center for Housing Studies (JCHS) at Harvard University. That’s the largest reported increase of renter households since the early 1980s. Since 2005, 4.4 million new renters have emerged. View article…

10 States Where Demand for Student Housing is Surging Enrollment at universities across the country continues to grow. But at the same time, so does the demand for student housing. The Gen Y population of roughly 80 million has come of (college) age, and universities are struggling to keep up. According to a new white paper, “Surging Student Populations Stress On-Campus Housing,” released in June by the National Student Housing Council (NSHC), more than 3 million high school students are expected to graduate every year until the 2018-2019 school year. View article…

RE/MAX: Housing Market Recovery ‘In Full Swing’ The national housing market recovery is “in full swing,” according to the June edition of RE/MAX’s National Housing Report. The report, released Monday, revealed that May saw increases in both home sales and median home prices for 42 of the 53 surveyed metropolitan markets. 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…

NEW: Former SunTykes Property in Tempe Arizona – Owner/User Opportunity. For more information, click here…

NEW: 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…

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.