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Daily News for Commercial Real Estate & Business – May 17, 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…

To view the CPI Retail Q1 2012 Report, click here…

2,400 acres in Buckeye sell for $7.4 million Elianto Landvest GP Inc., an entity created by California-based Landvest of North America, purchased 2,389 acres of land in Buckeye for about $7.4 million from Bank Midwest of Kansas City, Mo. It is the largest land parcel sold so far this year in the metro Phoenix area. The sales price breaks down to about $3,098 per acre. View article…

FineMark National Bank & Trust expands into Scottsdale Fort Myers, Fla.-based FineMark National Bank & Trust is opening its first branch in Scottsdale. FineMark Holdings Inc. operates six other locations in Florida and has $461 million in assets. View article…

Mesa Fuchsia Spa at Dana Park moves into bigger space The co-owners of Fuchsia Spa at Village Square at Dana Park Shopping Center have doubled their space and are marking the occasion with a grand reopening 4-7 p.m. Friday. Village Square is at Baseline Road and Val Vista Drive, Mesa. Fuchsia first opened in November 2006 and the spa will now have 4,000 square feet and be located a few doors from its original location, a spokeswoman said. View article…

Bechtel expanding Glendale operations San Francisco-based Bechtel, an engineering, construction and project management firm that has offices worldwide, is expanding its Glendale operation. Plans call for leasing an additional 32,000 square feet at the Glendale Corporate Center near 99th Avenue and Loop 101. View article…

Off 5th On for Seven Simon Centers Saks Fifth Avenue Off 5th, the high-end fashion retailer’s discount outlet chain, will open seven new stores in the next two years in Simon Property Group Inc.’s Premium Outlets division, including new and existing centers. View article…

Bank of America plans to sell some branches In an effort to shed costs, Bank of America Corp. has begun a plan to sell branches in sparsely populated areas. According to BofA’s first-quarter filing with the U.S. Securities and Exchange Commission on May 3, the banking giant closed 154 banking centers and 631 ATMs during the first quarter. View article…

HOUSING:
Mortgage delinquency, foreclosure rates fall in Arizona Mortgage delinquency and foreclosure rates have decreased both in Arizona and nationwide since last year, according to a new survey by the Mortgage Bankers Association. Arizona was below the national rate in both delinquencies and foreclosures. View article…

NAR: Housing more affordable than ever before The National Association of Realtors says its measure of housing affordability reached an all-time high last quarter, as prices, mortgage rates and family incomes converged. At the same time, bidding wars are becoming more common in Phoenix, and driving up prices. 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 – 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 – Former Corporate HQ for TDC in Tempe, AZ For Sale. For more information, click here…

5051 & 5057 E Thomas Road – (PRICE REDUCED-$295,000 for both buildings!) Former Dentist Office and Former Real Estate Office For Sale/Lease. 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…

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.