Daily News for Commercial Real Estate & Business – December 28, 2010

To view the Investment Trends Quarterly 4th Quarter Report, click here.

$2.9 million retail ground lease sale in Tucson, Ariz. "MailBridge works," says P. Jason Wong, CCIM, of Red Point Development in Tucson, Ariz. He responded to a want message sent by Susan Clift Brown, CCIM, of Clift Commercial LLC in Southern Pines, N.C., on behalf of her client JLSJ LLC. View article...

Urgent care closure leaves AF with only 1 clinic Ahwatukee Foothills is left with only one urgent care facility after StatClinix Ahwatukee, at Ray Road and 44th Street, shut down late last week. View article...

Phoenix voters may decide QuikTrip zoning issue Voters in Phoenix could decide whether a QuikTrip convenience store should be allowed to open at 44th Street and Palm Lane. View article...

Jo-Ann Stores to be acquired by Leonard Green & Partners for $1.6 billion Fabric chain Jo-Ann Stores Inc., which has nine stores in the Phoenix area, is set to be acquired by an affiliate of Leonard Green & Partners LP for $1.6 billion as part of a plan to take the company private. View article...

Shoppers crowd Phoenix area stores Imogene Knowles rested on one of the many padded chairs inside Scottsdale Fashion Square on Sunday, taking a break from a morning of intense deal hunting. The Phoenix 67-year-old was watching the shopping bags while her daughter and granddaughter shopped at Juicy Couture. View article...

Is light rail right for South Phoenix? Valley rail planners are asking a million-dollar question: Would south Phoenix residents ride a light-rail line enough to justify building one? Valley Metro, the agency that built and runs the 20-mile starter light-rail line, is weeks away from picking a consultant to provide the answer. View article...

Real Money: The FDIC Sells Four Loan Portfolios Totaling $1.22 Bil. The Federal Deposit Insurance Corp. closed on the sale of a series of loan portfolios. In the first deal, the FDIC sold a 40% equity interest in a newly- formed limited liability company created to hold assets with an unpaid principal balance of approximately $204 million from 12 failed bank receiverships. View article...

Market Trends: Is Retail Rounding the Corner? With retail sales ticking slightly upward this fall, available lease space should drop next year for the first time in six years, according to CB Richard Ellis. Available space in neighborhood and community shopping centers should decline from 13.2 percent to 12.8 percent in 2011 and 12.1 percent in 2012. View article...

Top 10 stories of the year Click through NRN.com's biggest stories of the year, and revisit the people and events that shaped 2010 at NRN's special Year in Review section. View article...

Counting Leases Before They Hatch The accounting profession is currently evaluating a proposed new standard that promises to fundamentally change the ways landlords and tenants account for - and negotiate - leases. Under review is a proposed rewriting of the Financial Standards Accounting Board's Accounting Standards Codification Topic 840, which before 2009 was known as FAS 13. This topic, "Accounting for Leases," is one of many standards that together comprise generally accepted accounting principles, or GAAP, in the United States. 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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