Daily News for Commercial Real Estate & Business – August 4, 2011

Here are the news articles you might find interesting today for commercial real estate and business:

To view this weeks Costar Watchlist, click here.

To view the August 2011 edition of Commercial Property Executive, click here.

Airpark Industrial Sells for $3.2M Airpark Holdings III LLC has sold the 26,940-square-foot industrial building located at 15730 N. 83rd Way in Scottsdale, AZ for $3,232,800, or $120 per square foot, to T and B Properties of Arizona LLC. The building was constructed in 1999 in the Scottsdale Airpark Industrial submarket of Maricopa County. View article...

Gilbert apartments sell for $7.5 million Clear Sky Capital Heritage Square LP has purchased the Orion at Heritage Square apartments, 65 E. Olive Ave., in Gilbert for $7.5 million, or $62,500 per unit. Clear Sky Capital originally was based in Canada, but is now a Phoenix company. The seller was Orion Pacific Note Investors LLC, an affiliate of Deerfield, Ill.-based Orion Residential Advisors LLC. View article...

Savers leases space in Phoenix, will hire 18 Savers Recycling Inc., a subsidiary of Savers Inc. thrift stores, has leased 42,200 square feet of distribution space at 5045 W. Roosevelt St. in Phoenix. The move from other distribution space in the Valley will translate into 18 new jobs, augmenting the current staff of 12 employees. View article...

Broadcom snags 24,000 sf at Chandler Corporate Center Broadcom Corp. has signed a lease for 24,170 square feet in an office building at the master-planned Chandler Corporate Center. The semiconductor company, headquartered in Irvine, CA, is the first tenant to take space at the 67,140 square-foot, class A building. View article...

Restaurant group slates 2 openings in Phoenix's CityScape CityScape in downtown Phoenix will soon welcome two restaurants by Maven Hospitality Group of Tempe - one that will serve Italian food and another that will serve sushi in a chophouse style. Jimmy Carlin, a partner at Maven Hospitality, told media at a Downtown Phoenix Partnership-sponsored tasting this week that Strand, the "fast casual" Italian restaurant, likely will open on Oct. 1. View article...

Small bookstores thrive amid change Technology that has dramatically changed the way consumers buy, read and keep books has had an unexpected consequence. The rise of online bookstores and digital-reading devices such as Kindles and iPads is indirectly fostering a resurgence of independent bookstores. View article...

1.2 Million New Jobs in Past 12 Months Although the U.S. economy added only 18,000 new jobs from May to June, the comparison with June one year ago tells a stronger story. June employment is up by 1.2 million jobs compared to last year, an increase of 0.9 percent. Nationally, 40 states added jobs over-the-year in June, based on non-seasonally adjusted payroll employment figures from the U. S. Bureau of Labor Statistics. View article...

Phoenix, Arizona cities see unemployment rates rise in June Phoenix and other Arizona cities saw their unemployment rate rise in June, joining a minority of U.S. regions that saw the ranks of the jobless increase, according to federal figures released Wednesday. View article...

JLL Researchers: Global Commercial Real Market Resilient in 2Q Despite Economic Headwinds The world's commercial real estate markets as a whole racked up net absorption and steady leasing volumes during the second quarter even as economic uncertainty dogged the markets, according to researchers at Jones Lange LaSalle. View article...

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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