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Daily News for Commercial Real Estate & Business – March 8, 2012

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

To view this weeks Costar Watchlist, click here.

Reid Traditional Schools Pays $4.1M for New Campus in Phoenix Reid Traditional Schools Painted Rock Academy, Inc. acquired the flex / industrial building at 14841 N. Black Canyon Fwy in Phoenix, AZ from Wentworth Property Company LLC for $4.1 million, or about $51 per square foot. The 80,087-square-foot building is situated on 6.8 acres. Reid Traditional Charter Schools plans on opening a new campus August 2012. View article…

Midwestern to spend $90M on state’s first veterinary school Midwestern University is investing $90 million to establish Arizona’s first veterinary school. The College of Veterinary Medicine on Midwestern’s 144-acre Glendale campus will begin with 100 students in the fall of 2014. The application process for the new program will begin during the summer of 2013. View article…

Market Street in DC Ranch lands two businesses Market Street in DC Ranch announced two new businesses that are opening in the neighborhood retail center in North Scottsdale. The Pilates Room will open March 29. Kelly Richardson is relocating her exercise studio from Cave Creek. View article…

Potato Barn, American Furniture open at Pavilions Two furniture stores recently opened at the Pavilions at Talking Stick. The Potato Barn and American Furniture Galleries opened within the past two weeks. The Potato Barn offers unique, one-of-a-kind furnishings from around the world. American Furniture Galleries offers more traditional choices. View article…

Businesses sought to lease space in Chandler historic building The city of Chandler is seeking an occupant for the historic property it owns at 51 E. Boston St., just north of City Hall. The building, which is on the city square, is known as the Blue Peacock, the name of a previous business located at the site. View article…

Chandler may put off construction plans indefinitely Years of declining home values and Chandler Mayor Jay Tibshraeny’s promise to avoid an increase in the property-tax rate are prompting budget recommendations that likely will be felt for years. Construction of most new parks, a fire station, museum and a police driver-training facility financed with bond debt could be postponed indefinitely. View article…

HOUSING:
Housing Market on Long Road to Recovery, Capital Economics Says The housing market is healing, a Capital Economics report stated, but the road to recovery will be a long and gradual one. The research firm expects to see home sales and homebuilding continue with increases, while house prices are expected to finally stop falling later this year. View article…

Phoenix home prices rise 2.5% in January Home prices in the Phoenix metro area increased about 2.5 percent in January, according to CoreLogic’s Home Price Index. The result, which compared to sales from January 2011, was the best performance among the 10 metro areas examined. View article…

Home Affordability Index Reaches Record-High Level Home affordability has reached the highest peak since 1970, which is when the data was first recorded, according to National Association of Realtor’s (NAR) housing affordability index. View article…

SAMPLE OPPORTUNITIES:
Bella Vista Retail Center – Investment, multi-tenant retail center. For a brochure, click here…

5051 & 5057 E Thomas Road – Former Dentist Office and Former Real Estate Office For Sale. For a brochure, click here…

Kokopelli Springs in St. David, AZ – Investment, 56 unit mobile home park. For a brochure, click here…

7320 N Dreamy Draw – Freestanding Office Building in Squaw Peak Corridor-great owner/user opportunity. For a brochure, click here…

Former TDC Corp HQ – 6515 S Rural Road, Tempe, AZ – Former Corporate HQ for TDC in Tempe, AZ For Sale. For more information, 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…

Feel free to contact me regarding any of these stories, the current market, distressed commercial real estate opportunities or your property.