Daily News – October 20, 2009

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.

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

BLS: Maricopa County lost 134,000 jobs for 12 months ended March '09

Maricopa County lost almost of one-third of its construction jobs and 11.5 percent of its business services positions between March 2008 and March 2009, according to first-quarter jobs data from the U.S. Bureau of Labor Statistics.

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Metrostudy: Housing starts nearing bottom

The Dec. 1 sunset of the $8,000 federal tax credit program for first-time homebuyers may reverse recent gains in housing starts, according to the latest report by Metrostudy, a housing market research firm.

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Higher jobless rates could be new normal

WASHINGTON - Even with an economic revival, many U.S. jobs lost during the recession may be gone forever and a weak employment market could linger for years.

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Former Alltel stores converted to Verizon

Verizon Wireless said Monday it has officially completed the conversion of former Alltel retail stores in the Valley to the Verizon brand and has completed the merger of the Alltel billing system with Verizon's system nationwide.

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Ogden plans ceremony for new Mesa office

Ogden & Co. plans an official ribbon-cutting ceremony for its new Arizona headquarters on Nov. 5 at 1901 E. University Drive, Mesa.

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South Mountain Freeway debate continues in Ahwatukee

Since the 1980s, Ahwatukee has waited to know whether a freeway will be built through it.

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Refurbished Piper Theater is readied for its debut

Earlier this week, staff from Scottsdale's arts programs and Cultural Council board members test-drove the new Virginia G. Piper Theater, as Arizona State University students and local talent performed.

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The Last Exit Bar & Grill in Tempe closes

Little more than a month after word hit the streets that the Sets had closed its doors, the Last Exit Bar & Grill, another staple of the Tempe music scene, has officially made its last exit.

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$2 billion of CMBS finance requests anticipated for next TALF round
Analysts watching the government's TALF program are expecting a significant increase in requests in its next round. The TALF round Wednesday could bring $2 billion worth of CMBS TALF requests, researchers at Barclays Capital said.

Tempe Specific News:

PLAN CHECK SUBMITTALS

09/02/09 - ADDITION/ALTERATION at 350 W. Washington St. for First Solar Declared Valuation: $882,200 Plan Check No.: PC09-0698

09/14/09 - TENANT IMPROVEMENT at 1250 W. Washington St. for Medaire Declared Valuation: $312,900 Plan Check No.: PC09-0729

09/14/09 - TENANT IMPROVEMENT at 1616 W. 17th St. for University of Phoenix Declared Valuation: $440,500 Plan Check No.: PC09-0732

09/24/09 - ADDITION/ALTERATION at 6111 S. All America Way for Kiwanis Park Recreation Center Declared Valuation: $545,500 Plan Check No.: PC09-0756

PERMITS ISSUED

09/08/09 - NEW TOWNHOMES (10) at 323 S. Roosevelt St. for Roosevelt Court Declared Valuation: $2,159,200 Plan Check No.: PC08-0217

09/11/09 - ADDITION/ALTERATION at 2055 E. Technology Cir. for T-Systems Declared Valuation: $1,150,000 Plan Check No.: PC09-0245

09/15/09 - TENANT IMPROVEMENT at 680 S. Mill Ave. for Five Guys @ Centerpoint Declared Valuation: $250,000 Plan Check No.: PC09-0585

09/16/09 - ADDITION/ALTERATION at 7855 S. Test Dr. for Tempe Mini Declared Valuation: $2,900,000 Plan Check No.: PC08-0956

09/28/09 - NEW 4 STORY HOTEL at 8575 S. Priest Dr. for Hyatt Summerfield Suites Declared Valuation: $8,922,900 Plan Check No.: PC08-0200

09/29/09 - TENANT IMPROVEMENT at 100 W. University Dr. for Centerpoint Declared Valuation: $650,000 Plan Check No.: PC09-0679

PERMITS FINALLED

09/02/09 - NEW RESTROOM FACILITIES at 100 W. Rio Salado Pkwy for Tempe Town Lakes Declared Valuation: $780,000 Plan Check No.: PC08-0725

09/15/09 - ADDITION/ALTERATION at 2155 E. Conference Dr. for Reproductive Medical Institute Declared Valuation: $400,000 Plan Check No.: PC09-0096

09/17/09 - TENANT IMPROVEMENT at 1131 W. Warner Rd., Ste 107, for Broadcom Corporation Declared Valuation: $310,000 Plan Check No.: PC08-1205

09/17/09 - TENANT IMPROVEMENT at 1275 W. Washington St., Ste 108, for Morrison Maierle Declared Valuation: $380,000 Plan Check No.: PC09-0211

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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