Daily News for Commercial Real Estate & Business – August 25, 2010

Frederick's of Hollywood Outsources, Consolidates Last week, Frederick's of Hollywood unveiled its new plan to achieve $2 million in annual savings by outsourcing the last of its manufacturing processes and consolidating its distribution operations. View article...

One Lexington condos weathered storm, now centerpiece of benefit for hospital For decades Central Avenue has been home to corporate headquarters. The development of much-hyped luxury condominiums - from sleek and modern designs to stately Victorian row houses - emerged in the early 2000s with the promise of the light-rail line. View article...

U-Swirl frozen yogurt planning 22 Arizona stores A Henderson, Nevada-based frozen yogurt franchise is expanding into Arizona and is expected to open two Valley locations this fall. View article...

Niagara Bottling to hire 63 in Phoenix Niagara Bottling LLC is investing $35 million in a new plant in west Phoenix, and the family-owned company is planning to hire at least 60 people. View article...

Sunrise Bank names Gail Grace CEO Gail Grace has been named president and CEO of Sunrise Bank of Arizona. View article...

Downtown Phoenix building catches fire The Phoenix Fire Department responded to a call Tuesday morning of a fire at a downtown Phoenix building on North Fifth Avenue and West Adams Street. View article...

Creditors appeal Bashas' reorganization plan Disgruntled secured creditors of Bashas' Inc. are trying to block the Chandler-based grocer's emergence from bankruptcy under the current court-approved plan. View article...

National Association of Realtors: Existing home sales across U.S. drop sharply Sales of existing homes dropped sharply in July following expiration of the home buyer tax credit, but prices continued to rise, the National Association of Realtors said Tuesday. View article...

Commercial Property Owners Choose to Default Like homeowners walking away from mortgaged houses that plummeted in value, some of the largest commercial-property owners are defaulting on debts and surrendering buildings worth less than their loans. View article...

Wells Fargo Ranks First in Commercial Mortgage Servicing, Bankers Report Wells Fargo tops the list of the nation's commercial mortgage servicers at midyear, according to the Mortgage Bankers Association. Wells Fargo recorded $462.8 billion in U.S. master and primary servicing volume through June 30. 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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