Daily News for Commercial Real Estate & Business – August 1, 2011

Here are the news articles you might find interesting today for commercial real estate and business:

La-Z-Boy to debut furniture showroom in Glendale La-Z-Boy furniture store, will open its first bedrooms and dining rooms store next month in Glendale. Located at 6950 W. Bell Road, this will be the Pennsylvania-based company's first stand-alone store selling bedroom and dining room furniture. The store is expected to open Aug. 17. View article...

Real estate briefs: Airpark building sale, golf club ownership An industrial property in the Scottsdale Airpark has sold for $3.5 million or about $81 per square foot. The 43,000-square-foot building is at 15855 N. Greenway-Hayden Loop. The buyer was Kootenay Holdings, a private investment firm based in Vancouver, British Columbia. View article...

Beet Sugar Factory in Glendale getting a new life One of the state's most notable historic buildings, the Beet Sugar Factory in downtown Glendale, is getting a new chance at life. The iconic red-brick building has stood in the West Valley for 105 years, vacant for the past quarter-century. This week a Scottsdale wine merchant and developer will announce plans for restoration of the crumbling five-story factory. View article...

Mesa Gaylord project still alive, company tells mayor Gaylord Entertainment Co. told officials from Mesa and DMB Associates last week that it is still serious about building a resort on DMB's land in southeast Mesa. The assurances came in a two-hour meeting with Gaylord's top executives at company headquarters in Nashville, according to Mayor Scott Smith and David Bruner, who is DMB's chief operating officer. View article...

Firms interested in downtown Mesa housing, colleges At least eight companies are interested in building mid- to high-rise, mixed-use housing in downtown Mesa, according to the city's economic development director. "It's coming," Bill Jabjiniak told the steering committee that is overseeing the iMesa community-development initiative. "Just let the market bring it. Financing is still an issue." View article...

Medical Information Superhighway to Run Through the DT National LambdaRail connects nearly 300 universities and federal laboratories via a high-speed fiber-optic network. The Chan Soon-Shiong Institute for Advanced Health (CSS Institute) has achieved a major milestone in its establishment of a secure "medical information superhighway" as first envisioned by founder Patrick Soon-Shiong, M.D. and outlined to the Institute of Medicine in July 2009. View article...

Arizona drops 29K retail jobs since 2006 Arizona's job losses were not limited to the construction industry as the state has dumped 29,500 retail jobs in the past five years, making it one of the worst in the country. View article...

Arizona loses 4,600 government jobs in past five years Arizona pared 4,600 government jobs from payrolls at the local, state and federal level, but it represented just a fraction of the total government jobs in the state. View article...

Community Land Trusts Have Lower Delinquency and Foreclosure Rates A recent report by the Lincoln Institute of Land Policy found that delinquency and foreclosure rates among owner-occupants living in homes in Community Land Trusts (CLT) were consistently lower than rates among owner-occupants in the market overall. View article...

Failed Banks and Credit Unions, 2011 This is an interactive map of failed banks and credit unions in the U.S. in 2011. Click on any state to see the list of failed institutions in that state, including the size of the bank or credit union, whether it was acquired, and the projected cost to the federal insurance fund. View article...

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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