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Daily News for Commercial Real Estate & Business – June 6, 2012

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

To view the June 2012 commercial edition of Scotsman Guide, click here…

Praedium Advisors and Paradigm Real Estate Solutions Sell Pinnacle East Corporate Center in Scottsdale, AZ Praedium Advisors in tandem with Paradigm Real Estate Solutions has sold the 17,122 square foot Pinnacle East Corporate Center at 8955 E Pinnacle Peak Rd. Scottsdale, AZ for $1,510,000 to Scottsdale investor Ed Zyadet. Zyadet purchased the office building from DLTCM, LLC of San Diego, CA which had purchased the property through a short sale in 2010. View article…

GPE CLOSES DEAL ON FORMER ASSISTED LIVING FACILITY IN CENTRAL PHOENIX GPE Commercial Advisors secured the sale of a 30,404 square foot, former assisted living facility, located at 2932 North 14th Street in Phoenix. Reflection Bay sold for $2,500,000. View article…

MESA APARTMENT COMMUNITY RECEIVES $7M LOAN A 336-unit Mesa apartment building has received a $7-million loan. The loan carries a three-year term with the first 18 months being interest only. It was arranged by Neal Churney of Johnson Capital and provided by a regional bank. The borrower recently acquired the garden-style apartment. View article…

Gangplank to expand to ASU journalism school Gangplank, the collaborate workplace founded in downtown Chandler, will open a popup workspace this summer at Arizona State University’s downtown Phoenix campus. Gangplank will operate the space from early June to mid-August within the Walter Cronkite School of Journalism and Mass Communications. Gangplank will program the space with services that include mentors from the business and startup communities, along with workshops that build technological and entrepreneurial skills. ASU will provide the space, Internet connections and utilities. View article…

BroadcastAZ debuting Scottsdale studio for national content A new company is investing heavily in a high-definition broadcast studio in Scottsdale that could offer its services to national networks including Fox and CNN. BroadcastAZ, a division of Scottsdale-based Broadcast USA LLC, is opening a 2,200-square-foot studio at 10755 E. Cactus Road on June 15. View article…

Infusionsoft leaving Gilbert for Chandler Gilbert-based software developer Infusionsoft last week announced plans to relocate to Chandler at the end of the year, taking with it hundreds of jobs and a successful private corporation with an international reach. The move to Chandler’s Price Road Corridor is another coup for a city with a robust high-tech sector that includes Intel, Microchip and Orbital Sciences. On the other hand, it comes as a significant blow to Gilbert’s economic development efforts. View article…

Delinquency Rates Drop for Banks, Rise for CMBS in First Quarter While mortgage delinquency rates rose for commercial mortgage backed securities (CMBS) in first-quarter 2012, they fell for banks, according to the Mortgage Bankers Association’s (MBA) Commercial/Multifamily Deliquency Report. Tuesday’s report showed that during the first quarter of 2012, the 60+ day delinquency rate for commercial and multifamily mortgages held in life insurance company portfolios decreased 0.03 percentage points to 0.14 percent. View article…

CoreLogic: Phoenix leads the nation in home value gains A new report released today by CoreLogic shows home values in metro Phoenix and across the state are surging at the fastest rate in the country. Phoenix-area home values, including foreclosures and short-sales, jumped 11.3 percent in April from the same month last year, the CoreLogic report said. 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.