Daily News for Commercial Real Estate & Business – December 21, 2010

Here are the news articles you might find interesting today:

To view the December 2010 Commercial Property Executive magazine, click here.

To view the December 2010 Chain Store Age magazine, click here.

M&I sold to Harris Bank parent Marshall & Ilsley Corp., the fifth largest bank in Arizona, will be sold for $4.1 billion to Canadian banking powerhouse BMO Financial Group, parent company of Harris Bank and Bank of Montreal. View article...

CoStar's Top News Stories for Phoenix in 2010 Each week, CoStar's Research Analysts and News Team uncover the latest deals and major leases, building sales, new construction and deliveries, new hires and promotions -- the important changes you need to know about in your market -- and report the news on our web site and in our weekly email newsletter, CoStar Advisor. View article...

Gilbert extends development pact with Heritage Marketplace Still without a clear prospective tenant or a concrete timetable for development, downtown Gilbert's Heritage Marketplace has about six more weeks to persuade the Town Council not to give up on the mixed-use project. View article...

Phoenix dubs Tanner Chapel as historic The City Council has approved historic-landmark designation for Tanner Chapel A.M.E. Church, 20 S. Eighth St. Tanner Chapel is the only church in Arizona where the Rev. Martin Luther King Jr. is known to have given a sermon. The designation "ensures it will remain a part of our history for generations to come," Councilman Michael Johnson said. View article...

Arizona lost construction jobs in November, gained over year Arizona lost construction jobs between October and November but still has gained over the past year, according to new data from the Associated General Contractors of America. View article...

Arizona income growth slows in 3Q Personal income for Arizonans grew in line with the the national average in the third quarter, but deterioration in some industries and sinking housing values tamped down the pace of growth from the prior quarter, the federal government reported Friday. View article...

Peoria Casa del Sol residents, owner agree on RV limitations How negotiations can change minds was reflected in a rather contentious case in Peoria. A few months ago, many residents of Casa Del Sol West, a manufactured-home senior community near 91st and Peoria avenues, were angry with owner Equity LifeStyle Properties. They didn't want the owner to allow recreational vehicles without a permit on the 1970s property. View article...

Top 10 Metros for Single-Family and Multi-Family Building Permits Stability is slowly returning to the new-homes market. While total single-family and multi-family building permits remain on an up-and-down rollercoaster from month to month, they are on a slight upward trend for the year. Total private-sector housing permits in the U.S. were up 6% through October, with single-family units up 5% and multi-family units up 9%, according to estimates made by the U.S. Census Bureau. The Northeast region has had the strongest activity this year, with single-family permits up 12% and multi-family permits up 24%. View article...

President Obama signs tax cut bill An $858 billion tax-cuts package was signed by President Barack Obama Friday afternoon after the House passed the bill by a 277-148 vote a few seconds before midnight Thursday. 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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