Daily News for Commercial Real Estate & Business – August 12, 2010

To view this weeks "The Watchlist" by Costar click here.

Shops at Norterra in north Phoenix doing well It's the season for back-to-school shopping and that last piece of apparel might just be available at the Shops at Norterra, the mall's marketing director says. View article...

Gateway Airport board sets stage for global cargo market The Phoenix-Mesa Gateway Airport governing board set the stage this week for the airport's entry into the international cargo market - a sector expected to create Southeast Valley jobs and save businesses millions of dollars in shipping costs. View article...

Rioglass Solar brings manufacturing plant to Surprise Rioglass Solar will bring a large mirror manufacturing plant to Surprise in a $50 million capital investment. View article...

Chandler McDuffy's sports bar gets new ownership Family sports bar McDuffy's in Chandler has sold to brothers Chris and Brendan Gamache, who plan to keep the menu the same for now. View article...

Mass layoffs impact 6,870 AZ workers in 2Q More Arizona workers were impacted by large-scale job cuts in the second quarter - 6,870 - than in the first three months of the year, according to new data from the Bureau of Labor Statistics. Still the number lags the 7,656 residents affected a year ago. View article...

CoStar Repeat-Sale Indices Debuts Showing Softening Prices There's a new entrant in the field of commercial real estate price indices. Bethesda, Md.-based CoStar Group Inc. launched what it's calling the CoStar Commercial Repeat-Sale Indices (CCRSI), which it will update monthly. View article...

Fed Assuages Fears, Lifts Prospects for CMBS The Federal Reserve's announcement Tuesday that it will hold down long-term interest rates by buying debt acknowledged a slowdown in the economic recovery, but lowered fears of a double-dip recession, experts say. For the real estate industry, the plan may provide the additional benefit of boosting the appeal of commercial mortgage-backed securities (CMBS) over other fixed-income investments. View article...

HOUSING:
Podcast: Real Estate Markets -- 20 Percent of Mortgages Under Water Nationally High foreclosure rates and negative equity continue to haunt real estate markets across the nation. In fact, a new report states that about 20 percent of mortgages nationally are under water. View article...

ASU: Foreclosure share up, numbers down Arizona State University's monthly foreclosure report presents a mixed bag of information. View article...

Realtors: Home prices make gains in 2Q The National Association of Realtors reported Wednesday the trend in stabilizing home prices solidified in second-quarter 2010 as more metro areas showed improvement over 2009 - including Phoenix. View article...

If you want a copy of the latest foreclosure spreadsheet, email me and I will send it to you.

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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