Daily News for Commercial Real Estate & Business – December 14, 2010

To view the Wells Fargo Annual Economic Outlook 2011, click here. I have highlighted a few areas that I found interesting.

Tempe hoping to create $160 million streetcar system A three-year study aimed at improving transportation options south of the light rail line has culminated in a plan to fund a $160 million streetcar-transit project that would travel roughly along Mill Avenue between Southern Avenue and Rio Salado Parkway. View article...

Convenience stores fill void in Mesa malls Harry Nagra is offering mall shoppers and employees convenience in small ways. He opened his King Snacks convenience market at Superstition Springs Center a month ago and is quickly establishing a fan base. View article...

Printing firm expands with addition of Tempe direct-marketing business The Arizona division of World Marketing Inc., a direct marketing company in Tempe, has been acquired by Phoenix-based printing service Prisma Graphic. No jobs will be lost, and the companies have already begun integrating their operations. View article...

Retailers targeting middle class still feeling the squeeze As the wealth of middle-class consumers hemorrhaged during the Great Recession, so did the retailers that catered to them. Circuit City, Linens 'N' Things, KB Toys and Levitz Furniture have disappeared, while Starbucks, Blockbuster, Ann Taylor, Gap and Ritz Camera have closed hundreds of stores. View article...

Financing remains tight, Ariz. firms say Building a company from scratch isn't easy, even in good times. But now, amid a sluggish recovery, it's harder than usual. Arizona entrepreneurs who attended the recent Invest Southwest Capital Conference in Scottsdale say the financing climate has improved a bit compared with where it was during the recession's darkest days. But financing remains tight. View article...

Underwater loans drop, but AZ still No. 2 Nearly half of homeowners in Arizona had mortgages that were underwater in the third quarter, according to CoreLogic. That puts the state in the No. 2 spot nationally, but at 49 percent it's a distant second to the 67 percent reported in Nevada, according to the real estate data and analytics company. 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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