Daily News for Commercial Real Estate & Business – August 31, 2010

Developer envisions 3 restaurants at former GrainBelt site A Valley developer's vision for the former GrainBelt building in downtown Gilbert would bring three new restaurants to the troubled corner and give it a face-lift. View article...

Fastest Supercomputer Link in the Nation ... Runs right through the heart of the Discovery Triangle! Cox Business Arizona installed the nation's fastest fiber-optic connection between ASU's Saguaro 2 supercomputer and TGen, 10 miles away in downtown Phoenix. View article...

Cave Creek auto-repair shop step ahead in going green As Cave Creek ramps up its green campaign to reduce energy use communitywide, one business is ahead of the game. View article...

Judge orders Chandler nightclub Phase 54 closed A court has ordered Phase 54 to close, and on the same day the Chandler nightclub filed for bankruptcy protection. View article...

Arizona Corporation Commission to launch solar information website The Arizona Corporation Commission is planning to launch a website dedicated to the solar industry on Wednesday. View article...

New ownership group close to Coyotes deal A mystery buyer has stepped to the forefront in efforts by the National Hockey League and city of Glendale to sell the Phoenix Coyotes to a new owner who will keep the team in Arizona. View article...

Starbucks to sell flavored instant coffee A year after introducing its Via instant coffee, Starbucks Corp. said it will sell flavored versions of the product starting this fall. View article...

Forecast: Hotel operating income will rise this year U.S. hotels are expected to see a 2.3 percent increase in operating income this year, according to the latest report from Colliers PKF Hospitality Research. Any increased profits would be considered a positive for Phoenix-area hotels. View article...

Lenders increase efforts on bad loans After months of relative inaction, a number of commercial real-estate lenders have increased their efforts to dispose of poorly performing mortgage loans, Phoenix-area real-estate analysts said. View article...

Intuit: Small businesses growing slowly in Arizona The number of small business jobs inched upward in Arizona by 0.1 percent in August. That national rate, according to a new survey by business software provider Intuit, was also 0.1 percent, which equated to an annual growth rate of 1.2 percent. View article...

Office Market Vacancy Expected to Peak in Fourth Quarter A new report confirms what most industry practitioners are seeing and feeling in the marketplace: The economic recovery is here, but it sure is taking its sweet time in gaining any significant momentum in the U.S. office market. 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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