Daily News for Commercial Real Estate & Business – December 22, 2010

Healthcare Trust seals $102M hospital deal Healthcare Trust of America, a Scottsdale real estate investment trust, has acquired a $102 million portfolio of four long-term care hospitals in Georgia, Texas and Florida. View article...

Innovative POOL marketplace on bumpy road to grand opening Retired New York City union electrician Neal Rosenberg dreamed of opening a tie-dye T-shirt shop for years. Now that he has finally opened, he's worried about being able to keep his dream alive. He needs to make 90 sales a month to pay the rent, but in his first two weeks he has sold only seven shirts. View article...

Chandler Coach & Willie's sports bar may open in March The upscale sports bar Coach & Willie's might open in downtown Chandler in March. Owners Eric Stoltz and Mark Simonek, who run the flagship restaurant near the sports venues in central Phoenix, have begun renovations for their expansion into Chandler. The new restaurant on the southeastern corner of Arizona Avenue and Boston Street will occupy 4,000 square feet containing a bar, dining room and kitchen, with 2,000 more square feet devoted to a patio/courtyard. View article...

Children's hospital expansion nearly complete Within weeks, patients and visitors at Phoenix Children's Hospital will begin using the new 11-story patient-care tower. The $588 million expansion, which began in 2007 at Thomas Road and Arizona 51, will be completed in 2011. View article...

Eastside Records' closing in Tempe will be day the music died For the past 25 years people have been digging through Eastside Records' dusty shelves looking for rock gems. The hole-in-the-wall independent record shop in downtown Tempe has built a devout following, but not one big enough to overcome the Internet music wave. View article...

Illness forces closure of Mullen Advertising Mullen Advertising Public Relations & Interactive will close its doors Dec. 31 because CEO Carter Mullen is ill with a life-threatening disease. View article...

Daily chart: Manufacturing in Arizona New data from the U.S. Census Bureau shows just how hard Arizona's manufacturing sector was hit during the Great Recession. The charts to the right show Arizona's manufacturing sector lost both workers and wages from 2008 to 2009. View article...

Phoenix resort officials hopeful upward trend continues Phoenix resorts have seen a significant increase in business this year and are hoping that continues throughout the holiday season. The Westin Kierland Resort and Spa and the JW Marriott Desert Ridge Resort have brought new promotions and exhibits to their locations to attract out-of-towners and Valley guests. View article...

Double dip is looming for Valley home prices Metro Phoenix home prices are headed for a new low, if they haven't already hit it. Median prices for the sale of existing homes have been falling since June, when a federal homebuyer tax credit expired and an increase in foreclosures helped drive down prices that had been steady for nearly a year. View article...

Arizona census results: 1 more congressional seat Arizona will gain a ninth seat in Congress in 2012, a result of being the second fastest-growing state in the nation over the past decade, according to the first release of 2010 census data today. View article...

Commercial Property Prices Up 3.2% from Last Year: Moody's Moody's Investors Service says its gauge of commercial property prices rose 1.3 percent from September to October, marking the second consecutive monthly increase recorded by the New York-based research firm. 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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