Daily News for Commercial Real Estate & Business – December 22, 2009

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

To view December 2009 Chain Store Age publication, click here. The "Big Builders" article is worth a quick read.

Scottsdale hotels continue to feel recession's impact

The latest research on Scottsdale's tourism sector shows more declines in key lodging numbers.

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Home prices continue slide from 2008

Annual home price declines in Arizona continue to be among the steepest in the country, a First American CoreLogic Inc. analysis reported Monday.

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ASU-RSI: Artificial Market Hard to Predict

The Phoenix real estate market began to turn around in 2009, but the improvement was driven by foreclosures and by investors drawn to the resulting low prices, according to the latest ASU-Repeat Sales Index (ASU-RSI) report.

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Condo-tower developer proposes new Scottsdale project

The developer of Optima Camelview Village, with its greenery and contemporary design, unveiled plans this week for a similar seven-story condominium complex at 68th Street and Camelback Road.

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Wild Horse Pass an economic engine for Gilas

With its new 10-story hotel and casino, plans for an upscale retail outlet center and dreams of a ballpark for spring training, Wild Horse Pass south of Ahwatukee has become the economic engine of the Gila River Indian Community

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Decade flipped Arizona upside down

Living in Arizona at the close of the '00s feels a bit like standing on our heads. The decade dealt our state a heavy blow, upturned our touchstones, left us suspended in a mixed-up, flip-flopped, name-swapping, upside-down place.

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CCIM Institute Prepares to Launch Data Exchange (I was on the build team for this platform. If you would like to discuss, please give me a call) The Chicago-based CCIM Institute, which provides services for Certified Commercial Investment Members with special training in real estate finance, is preparing to launch a new Web-based data exchange in late March.

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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.

Wishing you a Merry Christmas and Happy New Year!

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