Daily News – September 29, 2009

Here are the news stories you might find interesting today:

Barneys brings Southwestern touches to new store
Barneys New York is preparing to open its first Arizona store and adding Southwestern touches to offer customers a more familiar feel. The Scottsdale location incorporates references to the designs of local architects and sunset colors, in addition to the classic Barneys big staircase.

State Finds Interest Strong for Sale-Leaseback

PHOENIX-The state of Arizona wants to sell and then lease back a 205,901-square-foot building here to fill its budget deficit.

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Grant will expand Gateway, add gates

Phoenix-Mesa Gateway Airport has been awarded an $8.9 million grant from the Federal Aviation Administration to expand the airport's passenger terminal, officials said Monday.

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Diversified Lumber Takes 18,000 SF in Phoenix

Diversified Lumber signed a four-year lease for 18,000 square feet at 3632 S. 16th Place in Phoenix. The lease commenced this month and has a total consideration of $244,000. The industrial building measures 25,000 square feet. Features include 7...

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Hospice of Arizona Takes 17,300 SF in Phoenix

Hospice of Arizona signed a six-year lease for 17,261 square feet at the North Loop 101 Business Center, Building D in Phoenix. The health care provider is taking occupancy in first quarter 2010. This two-story, 88,057-square-foot office building at...

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Dept. of Veterans Affairs Leases 27,000 SF in Surprise

The U.S. Department of Veterans Affairs signed a 15-year lease at the Ancona Professional Plaza, Building A in Surprise, AZ. The tenant took 26,670 square feet and is moving into the space in August 2010. The two-story, 75,000-square-foot office building...

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White Lodging opens two Chandler Marriotts

White Lodging of Indiana has opened two hotel properties in Chandler.

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Credit market hampers home construction

Most home builders nationally say a "severe" lack of credit for housing production is threatening the new housing recovery before it has time to take hold, according to a new survey conducted by the National Association of Home Builders.

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U.S. income gap widens as recession hits poor

WASHINGTON - The recession has hit middle-income and poor families hardest, widening the economic gap between the richest and poorest Americans as rippling job layoffs ravaged household budgets.

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Global capital markets: Entering a new era

A new report by the McKinsey Global Institute highlights the impact of the global financial crisis on global capital flows.
Read more on the McKinsey Quarterly >

Old Phoenix Qwest building imploded

An hour before the blast, 83-year-old Nancy Beadle of Phoenix bid farewell to her husband's work. Valley architect Alfred Newman Beadle designed the old Qwest building, a 10-story block of blackened glass, in 1972.

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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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