Daily News – November 5, 2009

Here are the news stories you might find interesting today regarding commercial real estate and business:

To view the November issue of Chain Store Age, click here. There is an interesting chart for the top redevelopers in the nation.

To view this week's Costar Watch List, click here. The article title "Back to the Future" seems consistent to what I have been telling clients. That values of CRE could slip back to 2002 prices. According the article, we are already back to 2004 price levels.

Home Spaces Signs 30,000-SF Lease

Home Spaces Furniture Store has leased 30,256 square feet at the Goodyear Centerpointe shopping center in Goodyear, AZ. The 342,300-square-foot retail center at 15479-18211 W. McDowell Road is in the West I-10 submarket. Additional tenants include...

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Law Firm Signs 188,000-SF Renewal in Phoenix

In the largest office lease in Arizona this year, Snell & Wilmer LLP has renewed for 187,748 square feet at One Arizona Center in downtown Phoenix. The business law firm has been located in the building since 1992. The 19-story, 354,480-square-foot...

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APAC Customer Service Inc., a leading provider of customer care services, inked a 10-year lease for the industrial building at 2929 E. Corona Road in Tucson, AZ. The 101,400-square-foot data hosting facility was constructed in 1978 in the Southwest Tucson Airport Industrial submarket.

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Private sector losing jobs at a slower rate

Private sector employers sacked 203,000 jobs in October, according to new numbers put out Wednesday by employment services firm ADP.

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Cave Creek OKs Walmart, incumbents win Phoenix races

Cave Creek voters approved ballot measures Tuesday that will clear the way for a Walmart Supercenter to be located in the northern Phoenix suburb.

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Cubs owners scout potential sites for new spring training facility

City officials, private landowners, developers and members of the Cactus League gave the new owners of the Chicago Cubs a bird's-eye view and walking tours of potential sites for a new spring training and entertainment complex that Mesa Mayor Scott Smith refers to as "Wrigleyville West."

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Will New FDIC Bank Rules Help or Harm Commercial Real Estate?

The federal government's newly issued banking guidelines will have a major impact on the commercial real estate industry and the nation's financial system by forestalling another banking crisis and preventing the write-off of billions of dollars worth of loans, says the head of New York-based global real estate firm FirstService Williams.

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CMBS Savior? Developers Diversified Deal Is Nearer

A closely watched deal that may help uncork the commercial-property debt market is picking up steam after being threatened by some queasiness by the Federal Reserve, according to people familiar with the matter.

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DownEast opens at Chandler Fashion Center

DownEast Basics is a retailer that bills itself as offering high-design looks on a bargain-basement budget. Its clothing line includes everyday basics, fashion tops, dresses, skirts and denim for women, as well as girls and men's lines.

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4 Chandler hotels have grand opening

Entertainment and refreshments are part of the grand openings of four hotels near Loops 101 and 202 in Chandler on Wednesday and Thursday.

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Trompeter Electronics in Mesa closing, costing 135 jobs

Trompeter Electronics in Mesa, a manufacturer of connectors and cable assemblies, will close its plant by the end of the year, cutting 135 jobs.

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REGISTER ASAP! THERE ARE A LIMITED NUMBER OF TICKETS AVAILABLE FOR THIS EVENT! I am a panelist for the CCIM/IREM Economic Forecast on January 12, 2010. It is at the Phoenix Country Club and starts at 8AM. I will be on the Retail Panel with Daniel Pollack and Kevin Schuck. Our moderator is David Malin from Vestar. If you are in town, please come support me at the event. The website to register is www.iremccimforecast.com.

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

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