Daily News for Commercial Real Estate & Business – August 30, 2010

POINT HILTON TAPATIO HOTEL AND ADJOINING GOLF CLUB NOTICED FOR TRUSTEE's SALE Phoenix - The depressed hospitality market in the Valley has taken its toll on yet another hotel owner. The 584-room Pointe Hilton Tapatio Cliffs Resort and Lookout Mountain Golf Club in Phoenix has been noticed for trustee's sale. View article...

HOTEL THEODORE IN OLD TOWN SCOTTSDALE ON THE MARKET . . . WAS FORMERLY MONDRIAN Scottsdale - The Hotel Theodore in old town Scottsdale is on the market and is expected to command a sales price of about one third of the amount the previous owner invested in the property. View article...

New doughnut shop to open Wednesday Dunkin' Donuts is celebrating its 60th birthday and the opening of a new store at 1830 E. Warner Road in Tempe by giving away a week's worth of coffee and a travel mug to the first 100 customers on Wednesday. View article...

Cooperstown opening bigger restaurant in west Mesa The creator of Alice Cooperstown in Phoenix is opening a Cooperstown in west Mesa, adding it to the massive AZ Country USA. View article...

Fry's grocery store set for Sept. 1 re-opening Fry's Food Stores will open its remodeled Marketplace store at Tatum and Shea boulevards Sept. 1 with a grand re-opening celebration. View article...

Two downtown Phoenix restaurants close Restaurateur Bill Smith and his wife, Maria, shut their Downtown Sports Grill near Washington and Second streets a week ago, and by this Tuesday, they'll have closed another nearby eatery, Carmine's Little Italy. View article...

Phoenix could take museum land next week under settlement Phoenix could take possession of land that houses the Pioneer Living History Museum as soon as Tuesday, according to a proposed settlement between the city and the company that recently bought the property in far north Phoenix. View article...

Downtown Scottsdale will once again be hangover central Downtown Scottsdale soon will once again be hangover central. In July 2009, Mickey's Hangover Lounge & Restaurant closed its doors after several years in business. The venue, at 4310-4312 N. Brown Ave. near the Scottsdale Galleria Corporate Center, was a place where patrons could "kick up their feet" and chow down on the "best damn grub in town." View article...

Pedestrian crossing will link Kierland, Scottsdale Quarter Scottsdale is planning to install a midblock pedestrian crossing on Scottsdale Road this fall to link Kierland Commons with Scottsdale Quarter. View article...

HOA groups in Arizona cutting services, raising fees Thousands of vacant properties and millions of dollars in unpaid dues are taking their toll on Arizona homeowners associations, and homeowners are paying the price. View article...

Hotel occupancy declining in Phoenix area While the nation's hotel industry reported increases in all three of its key metrics, metro Phoenix posted declines for the week of Aug. 15-21, according to Smith Travel Research. 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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