Archive for April, 2010

New Bank Owned Listing in Chandler Arizona

For More Information on the property, Contact Andrew Holm.

4627 W. Butler Dr. •  Chandler, AZ 85226

Lender Owned home with great location. List price approved by the bank. Minutes away from the 101 and I-10 freeways. 5 bedrooms and 3 bathrooms with over 2200 square feet. Perfect home for families and/or roommates. Nice back yard with pool. 2 Car Garage. Great Schools.
Property Amenities

  • 5 Bedrooms
  • 3 baths
  • 2,266 sq. ft.
  • 2 Car Garage
  • Private Pool
  • Desert Landscaping
  • Vaulted Ceilings
  • Living Room
  • Fireplace in Family Room
  • Formal Dining Area
  • Eat-in Kitchen
  • Full Bath in Master Bedroom
  • Covered Patio
For More Information, Contact:

Andrew Holm

Andrew Holm

Cell 480.206.4265

New Bank Owned Listing In Mesa Arizona

For More Information on the property, Contact Andrew Holm.

2059 E. Brown Rd. #19  •  Mesa, AZ 85213

Lender Owned Property. List Price Has Been Approved by the Lender. Lovely Single Level Patio Home in Popular Villas Valencia Community. Three Bedrooms. Well-Maintained Community. Courtyard Entry, Dining Off Living Room, Eat-In Kitchen, Breakfast Bar, Pantry, Fireplace, Ceiling Fans, Security Door, Extra Garage Storage. Community Pool & Spa. Close to Shopping, 202 Freeway, Restaurants, Churches, Etc. Buyer to Verify All Information.
Property Amenities

  • 3 Bedrooms
  • 2 baths
  • 1,558 sq. ft.
  • 2 Car Garage
  • Single Level Home
  • Vaulted Ceilings
  • Fireplace in Family Room
  • Breakfast Room
  • Kitchen Features: Range/Oven, Dishwasher, Disposal, Microwave, Pantry
  • Master Bedroom: Walk-in Closet, 3/4 Bath with Double Sinks, Separate Exit
  • Covered Patio
  • Community Pool & Spa
For More Information, Contact:

Andrew Holm

Andrew Holm

Cell 480.206.4265



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An independently owned and operated member of The Prudential Real Estate Affiliates, Inc.
This information, including property price, is deemed reliable but not guaranteed.  Square footage, lot size
and other stated dimensions are estimated.  Information not independently verified by Broker.

Realtor Equal Housing

AZ Central – Scottsdale Quarter slated for growth.

by Peter Corbett – Apr. 29, 2010 02:24 PM
The Arizona Republic

A Scottsdale shopping district that has been treading water while the recession swamped retailers’ expansion plans is moving ahead, with new tenants coming next month and this fall.

Scottsdale Quarter, an open-air lifestyle center, will add Primebar, a restaurant and martini bar, on May 17 on its southern edge.

Other retailers expected to join the Quarter this fall include Nike, Armani A/X, Lululemon Athletica, a yoga clothing shop, and a champagne bar called Narcisse.

Scottsdale Quarter is a $250 million project that had a limited opening in March 2009. It is southeast of Scottsdale Road and Greenway-Hayden Loop, and current tenants are Williams-Sonoma Home, West Elm, Brio Tuscan Grill, Apple, H&M and Oakville Grocery.

“With each new opening, we get an influx of shoppers,” said Jenny Bassett, marketing director.

Scottsdale Quarter and other Northeast Valley mixed-use centers such as CityNorth hit the market as the economy spiraled into a recession.

CityNorth at Loop 101 and 56th Street opened its first phase of stores, restaurants, apartments and offices in November 2008. It is in foreclosure on a $290 million debt with a trustee sale set for this summer.

Glimcher Realty Trust, one of the Scottsdale Quarter’s development partners, remains solvent and is moving ahead with leasing the 28-acre property.

On a conference call last week, Michael Glimcher, company chairman, said Scottsdale Quarter has leased 80 percent of the space in the first two development phases.

Phase 2 construction will be completed over the next few months with a wave of shops and restaurants opening in the fall, Bassett said.

Scottsdale Quarter’s office tenants include Cities West Publishing, Superior Home Services, Eddie V’s restaurants and Girlfriend University, a business mentoring enterprise.

The digital marketing firm iCrossing will move in next month and occupy the entire fourth-floor space above H&M, a fashion retailer, Bassett said.

Scottsdale Quarter’s newest player is the 8,300-square-foot Primebar, which wraps around the south parking garage with a streetside patio and a main bar set against an elevated stage.

“We’re taking the best of Mastro’s, Sapporo and Blue Martini and blended it all together in one atmosphere,” said John Polizzi, Primebar’s managing partner.

The bar and its music are targeting 30-year-olds to Baby Boomers.

Happy hour from 4 to 7 p.m. will feature 30 wines by the glass for $5 each, specialty martinis for $6 and 20 craft beers at $4 each.

Appetizers and a full dinner menu will be served until 10 p.m., Polizzi said.

Scottsdale Quarter will add other restaurants in the fall, including True Food Kitchen, from Fox Restaurant Concepts, in the Quarter’s central square, or quad, and Eddie V’s on the street side of the north parking garage.

Narcisse will serve champagne in a second-level bar next to the Gold Class Cinema. The upscale movie theater is slated to open next year.

Nike has started construction of its two-level store east of Apple. Nike will be trying a new concept at Scottsdale Quarter that will be unveiled at two other locations this year, Bassett said.

Scottsdale Quarter’s plan calls for 370,000 square feet for retailers and restaurants, along with more than 200,000 square feet of office space.

A third phase could include a hotel and residential component on the eastern edge of the property. The timing of that development will be market-driven, said Richard Hunt, Scottsdale Quarter’s general manager.

AZ Central – CityScape bringing 3 restaurants and lounge to downtown

by Howard Seftel – Apr. 28, 2010 04:27 PM
Republic restaurant critic

CityScape, the $900 million showplace project in downtown Phoenix, has just inked a deal with New Orleans restaurateur Jason Doyle and his Doyle Restaurant Group to bring three more restaurants and a lounge to the complex.

Brian Harper, vice president for leasing for CityScape developer RED Development, calls Doyle an “independent, Sam Fox-type guy” with a knack for creating popular concepts. Fox is the brains behind popular Valley eateries Olive & Ivy, True Food, Zinburger and Modern Steak.

Harper says all the places will be “value-centric.”

// //

The three restaurants are scheduled to open in October.

• La Crepe Nanou: The uptown New Orleans location of this restaurant has been around since 1983 and is always crowded. Look for a French café menu of soups, salads, crepes, along with a few meat, fish and poultry entrees.

• BrewPublic Craft House: Craft beers and pub grub are the focus.

• Huey’s 24/7 Diner: The kitchen will never close at this diner, which will feature inexpensive comfort food.

The final piece of the Doyle mini-empire is Rasputin Vodka Bar, which Harper compares to the dark, sexy Merc Bar in Phoenix’s Esplanade office complex. The Web site calls it a “late-night, DJ-inspired ultra lounge.”

Harper is aiming for a summer opening.

Over the past two years, CityScape has put together an impressive restaurant line-up. Among the coming attractions are LGO Public House, a gastro pub from the La Grande Orange group; two Aaron May ethnic restaurants, one Mexican, the other an Asian noodle house; a Sam Fox, Beverly Hills-style chophouse; a pan-Asian/sushi restaurant from Jimmy Carlin called Silk; and new branches of two local favorites, the Breakfast Club and Blu Burger Grille.

CityScape is bordered by First Street and First Avenue, between Washington and Jefferson streets.

AZ Central – Centerpoint condo towers in Temple listed for sale

by Angelique Soenarie – Apr. 23, 2010 03:34 PM
The Arizona Republic

Early next week the mostly-built Centerpoint condominium towers in downtown Tempe will be listed for sale by CB Richard Ellis.

The condominium project recently failed to sell at a foreclosure auction, which forced Peoria-based lender, ML Manager LLC to take over the property.

A price will not be listed, but offers will be accepted for the property, said Mark Winkleman, ML Manager chief operating officer. Already, he said there has been interest from all over the country.

“Its attracted very prominent and well capitalized buyers in the country,” he said. “We’re approaching 200 inquires and with zero marketing from around the country.”

Five years ago the Centerpoint development, which began near Maple and Sixth streets, was to include 375 condos, an upscale retail plaza, fine dining and a winery. Tempe City Council waived height requirements to approve the 22- and 30-story buildings. But now local stakeholders see the vacant towers an unsightly problem.

Winkleman said the possibility of a buyer tearing down the towers to develop something else is unlikely. He said the development could become high-end rental property, student housing or assisted living.

Winkleman said the inability to sell the condominiums at the recent foreclosure auction “was merely the lender foreclosing. We were expecting the bid to be substantially higher.”

He said the minimum bid started at $8 million and could have gone up to $135 million, which was Mortgages Ltd.’s loan to Tempe Land Co. LLC, the former developer of Centerpoint. Tempe Land is a subsidiary of Tempe-based Avenue Communities LLC.

Winkleman expects the development will sell in the next 45 to 60 days.

“Unfortunately, it won’t recover all of it,” Winkleman said. “No one has suffered worse losses than our investors. It’s a tough situation.”

Reporters Dianna M. Náñez and Catherine Reagor contributed to this report.

AZ Central – All best are on new Talking Stick Casino

It’s a long way from bingo halls to the Casino Arizona at Talking Stick.

The $440 million hotel-casino that opened Thursday on the Salt River Pima-Maricopa Indian Community will combine Scottsdale resort amenities – fine dining, a spa and golf – with gaming and entertainment that is somewhere between Laughlin and Las Vegas.

Los Lobos headlined a private show on Wednesday night. Coming acts in the showroom include Brian Wilson, Clint Black and Big Bad Voodoo Daddy.

“We’re very excited to get in here,” said Russ Burbank, Casino Arizona chief operating officer.

Gamblers flooded into the casino on opening day as Salt River police directed traffic into the unfinished parking lots. Golf-cart shuttle drivers scurried to ferry gamblers through construction areas to the front door.

The casino, along with a few restaurants and lounges, are operating but Casino Arizona at Talking Stick is opening the hotel and other eateries over the next few weeks.

The casino’s poker room was full and seats were scarce at the slot machines. Players punched buttons on the ever-popular Monopoly slot machines, rolled dice on a virtual craps table and helped Carrie Bradshaw pick out a dress on a “Sex and the City” video slot machine.

“It’s beautiful in here – oh, my God!” one gambler said into his cellphone as he made his way across the slots floor.

Bartenders poured drinks at a main floor lounge with floor-to-ceiling windows overlooking Talking Stick’s two golf courses and an unfinished pool deck.

One gambler, who played at the old Casino Arizona at Indian Bend Road and Loop 101, was less than thrilled with her first visit.

“It’s OK,” Katie Adams of Glendale said. “I’ve just got to get used to it. It’s really packed, and we couldn’t get a seat.”

Talking Stick’s 240,000-square-foot casino is twice as large as the one it replaces.

Players can choose from 800 slot machines and 100 tables for blackjack, poker and other card games.

Smoking is allowed in the casino but restricted in the poker room, in a small area of the slot machines and in the hotel.

Views hit the jackpot

Talking Stick Resort includes eight restaurants, 10 lounges and 497 rooms, including 15 suites on the top two floors. An all-day buffet is priced from $12.95 for breakfast to $23.95 for dinner.

The hotel’s “wow” factor will come from its spa on the 14th floor and the 230-seat Orange Sky restaurant on the 15th floor. Both have spacious balconies with stunning views of Camelback Mountain and the McDowell range.

Standard hotel rooms will go for $100 to $300 per night in season. A 2,000-square-foot presidential suite is $3,500, said Burbank, the Casino Arizona executive.

“We’re going for a four-diamond rating (from AAA), and it looks like we’re going to get it,” he said.

Ties to tribes’ heritage

The hotel features a contemporary interior design by Milt Elliott of FFKR Architects with a subtle color palette of gray, black and white.

It incorporates design motifs representing the basketry of the Pimas and the red and black pottery of the Maricopas, Elliott said.

The Salt River community incorporates two tribes, the Pima, or O’odham, and the Maricopa, or Piipash.

Tribal voters approved gaming in 1994, and Salt River opened its first casino four years later.

Talking Stick’s hotel lobby includes a gallery with a large collection of contemporary Native American art.

Business groups will utilize the resort’s 50,000 square feet of meeting space, including a 25,000-square-foot ballroom.

Talking Stick will host the American Hotel Lodging Association in June. Golfers will play the two 18-hole courses that are managed by Scottsdale-based Troon Golf.

And by next spring, Salt River will host the Arizona Diamondbacks and Colorado Rockies at a Cactus League complex about a mile from Talking Stick.

The resort is adding a new entertainment package for the destination, said Rachel Sacco, Scottsdale Convention and Visitors Bureau president.

“We’re lucky it’s here on this side of town,” she said. “It will bolster the tourism market in Scottsdale.”

AZ Central – Judge delays auction for 44 Monroe


by Jahna Berry – Apr. 15, 2010 05:08 PM
The Arizona Republic

A Bankruptcy Court dispute delayed Wednesday’s foreclosure auction of 182 unsold downtown Phoenix luxury condos.

Three creditors of the 44 Monroe tower, located near First Avenue and Monroe Street, have filed petitions to force 44 Monroe LLC into Chapter 7 bankruptcy liquidation. They are owed $306,465, court documents say.

The auction was pushed back to April 27, but a judge must OK the auction before it can continue, said Phoenix attorney Brian Spector, who is the trustee.

The 196-unit luxury high-rise was finished in 2008. Its lender collapsed and was taken over by the FDIC, which now owns a 60 percent stake in Corus Construction Venture LLC. 44 Monroe LLC owes Corus $86.8 million.

April 2010
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