Daily News for Commercial Real Estate & Business – August 3, 2010

Mission Springs sold for $15.4M in Tempe The Mission Springs apartment community in Tempe sold for $15.4 million to Mercury Investment of Duluth, Minn. View article...

Glendale planners to take up UOP Stadium rezoning The Glendale Planning Commission will vote Wednesday night on a request by the Bidwill family to change zoning in the parking lots and tailgating areas around University of Phoenix Stadium. View article...

Qwest to hire 40 at El Centro call center Qwest International is hiring for 40 people for bilingual sales positions at its call center in downtown Phoenix. View article...

Paradise Valley Mall works to boost occupancy rate The Valley's newest Costco opened at Paradise Valley Mall last summer. Westcor, which owns the northeast Phoenix mall, hoped the addition of the popular retailer along with the reopening of a movie theater this summer would be the catalyst to increasing the mall's occupancy rate. View article...

Mesa industrial-park project may signal turnaround On a vacant lot between a busy northeastern Mesa airport and a scenic golf course, earthmovers are kicking up dust and prospects of hope. View article...

Economy takes toll on Arizona's tribal gaming The soft economy continues to take its toll on tribal gaming revenues. View article...

Arizona Heart Institute files Chapter 11 in preparation for sale The Arizona Heart Institute is filing Chapter 11 under the U.S. Bankruptcy Code to prepare to sell its assets to Vanguard Health Systems Inc. View article...

Online job postings increase in AZ Arizona employers posted more job openings online in July, with an estimated total of 82,900, up from 75,000 in June and 65,200 a year ago, according to The Conference Board Help Wanted OnLine Data Series. View article...

Nearly 150,000 AZ hires qualify for tax credits Nearly 149,100 new hires have been made in Arizona from February through June, qualifying companies for tax credits under the Hiring Incentives to Restore Employment Act of 2010. View article...

CMBS Delinquency Rate Rises 12 Basis Points to 8.71% Are the darkest days over for the commercial mortgage-backed securities (CMBS) market? Although the delinquency rate on loans in CMBS rose to an all-time high of 8.71%, the rate of increase is showing signs of moderating, according to New York-based Trepp LLC. View article...

As a Hedge Against Inflation, Commercial Real Estate Investment Remains a Smart Play In economic terms, inflation is defined as a rise in the general level of prices of goods and services in an economy over a period of time. When prices rise, each unit of currency buys fewer goods and services, eroding real consumer purchasing power. 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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