Daily News for Commercial Real Estate & Business – December 15, 2009

Here are the news stories you might find interesting today regarding commercial real estate and business:

Healthcare Trust Targets 1M SF by Year End

SCOTTSDALE, AZ-The local REIT will close, or have under contract, $237 million worth of assets by the end of 2009.

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Queen Creek gets another Dunkin' Donuts

Another Dunkin' Donuts could open in Queen Creek as early as this month.

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BofA to hike small-biz lending by $5B

Bank of America Corp. has pledged to increase lending to small and midsized businesses by at least $5 billion next year. (BAC)

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Cronkite School gets LEED certification

Downtown Phoenix added another LEED-certified building to its midst.

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Merzproject merging with old-line Boston design firm

Merzproject, a small, award-winning Phoenix architecture firm, is merging with Shepley Bulfinch, a Boston design company that was founded in 1874.

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Capitol Bancorp receives OK to consolidate Arizona banks

Capitol Bancorp Ltd. has received the go-ahead to consolidate six affiliate banks in Arizona: Arrowhead Community Bank, Asian Bank of Arizona, Camelback Community Bank, Colonia Bank, Mesa Bank and Sunrise Bank of Arizona. (CBC)

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Mesa's Downtown Development Committee gone

Mesa's Downtown Development Committee, which under various names helped shape the city's historic center for two decades, passed into the history books itself this week.

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Desert Ridge amendment again delayed

The Phoenix Planning Commission once again has delayed action on a proposal to amend the Desert Ridge Specific Plan.

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TEMPE CONSTRUCTION REPORT:

PLAN CHECK SUBMITTALS

11/06/09 - ADDITION/ALTERATION at 735 W. Knox Rd. for Eagle Engineering Declared Valuation: $370,000 Plan Check No.: PC09-0875

11/17/09 - TENANT IMPROVEMENT at 1401 S. 52nd St. for University of Phoenix Declared Valuation: $350,000 Plan Check No.: PC09-0911

11/25/09 - TENANT IMPROVEMENT at 1305 W. 23rd St. for Wells Fargo Declared Valuation: $1,640,000 Plan Check No.: PC09-0946

PERMITS ISSUED

11/03/09 - NEW BUILDING at 1861 E. 3rd St. for SSI Industrial Building Declared Valuation: $1,000,000 Plan Check No.: PC09-0219

11/03/09 - TENANT IMPROVEMENT at 120 E. 5th St. for Tempe Police and IT Departments Declared Valuation: $4,230,400 Plan Check No.: PC09-0535

11/03/09 - TENANT IMPROVEMENT at 1515 W. 14th St. for Bank of America Declared Valuation: $500,000 Plan Check No.: PC09-0825

11/05/09 - TENANT IMPROVEMENT at 1642 S. Priest Dr. for Choices Network of Arizona Declared Valuation: $846,800 Plan Check No.: PC09-0812

11/16/09 - NEW BUILDINGS at 1300 S. Mill Ave. for First Southern Baptist Church Declared Valuation: $1,090,000 Plan Check No.: PC08-0489

11/24/09 - TENANT IMPROVEMENT at 1345 W. Elliot Rd. for The Dump Showroom Declared Valuation: $1,500,000 Plan Check No.: PC09-0823

11/25/09 - ADDITION/ALTERATION at 6111 S. All America Way for Kiwanis Park Recreation Center Declared Valuation: $545,500 Plan Check No.: PC09-0756

PERMITS FINALLED

11/09/09 - TENANT IMPROVEMENT at 21 E. 6th St, #703, for Friend Residence @ Orchid House Declared Valuation: $280,000 Plan Check No.: PC08-0732

11/12/09 - NEW OFFICE/RETAIL BUILDING at 222 S. Mill Ave. for Tempe Gateway Declared Valuation: $28,110,400 Plan Check No.: PC08-0177

11/16/09 - TENANT IMPROVEMENT at 1255 W. Washington St., 2nd Flr, for Sonora Quest Laboratories Declared Valuation: $300,500 Plan Check No.: PC09-0384

11/18/09 - NEW BUILDING at 1430 W. Elna Rae St. for Brogan Maintenance Center/Tempe Elementary Schools Declared Valuation: $13,700,000 Plan Check No.: PC08-0525

11/18/09 - TENANT IMPROVEMENT at 680 S. Mill Ave. for Five Guys @ Centerpoint Declared Valuation: $250,000 Plan Check No.: PC09-0585

11/19/09 - NEW COMMERCIAL BUILDING at 3233 S. McClintock Dr. for Arco AM/PM Declared Valuation: $237,000 Plan Check No.: PC07-1194

11/19/09 - NEW BUILDING at 1406 W. University Dr. for Robo Wash Declared Valuation: $725,000 Plan Check No.: PC09-0214

11/30/09 - TENANT IMPROVEMENT at 1305 W. 23rd St. for Wells Fargo Declared Valuation: $550,000 Plan Check No.: PC09-0541

REGISTER ASAP! THERE IS A LIMITED NUMBER OF TICKETS AVAIALBLE FOR THIS EVENT! Just a reminder: I am a panelist for the CCIM/IREM Economic Forecast on January 12, 2010. It is at the Phoenix Country Club and starts at 8AM. I will be on the Retail Panel with Daniel Pollack and Kevin Schuck. Our moderator is David Malin from Vestar. If you are in town, please come support me at the event. The website to register is www.iremccimforecast.com.

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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