Daily News for Commercial Real Estate & Business – December 16, 2009

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

If you would like a copy of the 4th Quarter Investment Trends Quarterly Report for Phoenix or the whole Southwest Report, send me an email and I will get it to you.

Mortgage rates inch up in U.S., AZ

Home loan rates inched up in Arizona and nationwide in the past week, according to average rates quoted on Zillow Mortgage Marketplace for 30-year fixed mortgages.

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Business travel flat, Phoenix hotel rates fall

New research shows that demand for business travel is expected to remain flat in the early part of 2010.

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Milkin: Arizona must focus on high tech to be ready for recovery

The Milkin Institute has a recipe for Arizona to grow its high-tech job base once the economy recovers - and it calls for swift action.

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Regents OK $187M expansion for medical school

The Arizona Board of Regents has endorsed a $187 million expansion for the University of Arizona College of Medicine - Phoenix in partnership with Arizona State University.

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FreeLife opens HQ with 100 jobs

FreeLife International celebrated the grand opening of its headquarters in Phoenix Tuesday with an announcement that it has created 100 jobs and plans to grow that number to 300 over the next three years.

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Tempe firm sets solar power record

Tempe-based First Solar said Thursday it had manufactured and shipped more than one gigawatt of its photovoltaic solar modules in 2009, becoming the first photovoltaic company to attain that production volume in a single year.

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Copper-mine land swap moves closer to reality

Developers estimate deal could bring $46.4 billion to Ariz. over the expected 66-year life of the mine.

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Batteries Plus store opens in Gilbert

Like anyone, Valley business owner Wayne Ohland uses batteries to power his cell phone, laptop and numerous other mobile electronics.

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Arizona Avenue project to take some cuts after costs increase

Aging downtown Chandler water and sewer lines are in worse shape than city officials thought, prompting them to cut some of the planned streetscape improvements to reduce escalating costs.

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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.

Wishing you a Merry Christmas and Happy New Year!

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