Daily News for Commercial Real Estate & Business – August 9, 2010

ML Managers takes over Ten Wine Lofts, Hotel Monroe ML Managers LLC has taken possession of the Hotel Monroe in downtown Phoenix and Ten Wine Lofts in Scottsdale, both busted projects that the now defunct Grace Communities had partially developed. View article...

NIAGARA BOTTLING TO OPEN PLANT IN WEST PHOENIX . . . BUYS FACILITY FOR $10+ MILLION Phoenix - Niagara Bottling LLC in Ontario, Calif. (Andy Peykoff, II, pres.) plans to expand into Arizona by opening a water bottling and distribution facility in Phoenix. View article...

RYAN COS. TO DEVELOP FBI REGIONAL HEADQUARTERS IN DEER VALLEY AREA Phoenix - A company formed by Ryan Cos. US Inc. in Minneapolis, Mn. plans to develop a 225,000-square-foot office building in the Deer Valley area of Phoenix that will be leased by the Federal Government through the General Services Administration (GSA). View article...

Everest JV Pays $16M for Broken Condo Project Everest Holdings has partnered with Thackeray Partners to acquire 230 units of San Riva at The Foothills, a 280-unit broken condo project. The joint venture paid $15.8 million, or $68,695 per unit, for the class A rental units. View article...

Glendale Planning Commission OKs rezoning for Bidwill development plans The city of Glendale moved forward plans by the Bidwill family Thursday night to develop two hotels, 4.5 million square feet of office space and urban residences in what now are parking lots at University of Phoenix Stadium. View article...

Mesa Mayor contemplates Cubs stadium sites Mesa Mayor Scott Smith said downtown Mesa is one of the leading sites for the Chicago Cubs' proposed spring training center, but faces the challenge of bringing together enough acreage to accommodate the $84 million facility, and adjacent retail establishments. View article...

Arizona payday loan stores' choice: Diversify or close Recent changes in the law regarding payday lenders have led many Phoenix businesses that offer the service to diversify their products. But those that decided not to offer additional services are closing, leaving vacant storefronts in dozens of strip centers. View articles...

Audi dealer joins luxury-car lineup in Peoria Peoria has snagged the West Valley's first Audi dealership, which will begin this month to hire 50 to 75 employees. View article...

Gateway lands cargo handler The Valley's Mesa-based reliever airport has landed an ally in its quest to recruit and accommodate additional airlines and cargo carriers. View article...

Arizona real estate: East Valley housing more affordable Amid the worst home-building slump in more than two decades, location has once again become the most important factor for metropolitan Phoenix's new-home buyers. View article...

Employment declines in July Total nonfarm employment declined by 131,000 nationwide in July, although both the number of unemployed individuals (14.6 million) and the unemployment rate (9.5 percent) remained unchanged from June, the U.S. Bureau of Labor Statistics reported Friday. 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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