Daily News for Commercial Real Estate & Business – December 3, 2010

Gap Leases 412,405 SF in Phoenix Gap, Inc., one of the world's largest specialty retailers, signed a deal for 412,405 square feet in the industrial building at 2225 S. 75th Ave. in Phoenix, AZ. Gap plans on moving into the space in Spring 2011. View article...

Nexus Revamps $80M Target-Anchored Center Nexus Companies has transformed Bell Towne Centre and Bell Towne Plaza from an outdated center with increasing vacancy to a thriving retail destination. The final pieces of the five-year metamorphosis are new leases with LA Fitness and Toys "R" Us and a complex refinancing. View article...

Emergency center opens in north Peoria A full-service emergency department with 14 beds will open Wednesday in north Peoria, 26900 N. Lake Pleasant Parkway. The North Peoria Emergency Center operated by Arrowhead Hospital will provide around-the-clock medical care in addition to CT scans, ultrasound and other diagnostic imaging services, and on-site laboratory. View article...

2 retail stores make downtown Chandler scene this month Two retail stores are opening this month in downtown Chandler. One shop, which will sell only products made in Arizona, is opening in mid-December at 72 S. San Marcos Place in the space vacated by Phoenix Flower Shops. It is Sibley's West: The Chandler and Arizona Gift Shop. View article...

Harmony House music store in tune with the times It's easy to drive past Harmony House, a longtime mom-and-pop music store in a northeast Phoenix strip mall, but owner John Frank hopes the economy allows him to keep making music for years to come. View article...

Roundabouts included in plans to help Scottsdale Airpark traffic Scottsdale traffic engineers are moving ahead with plans to alleviate Scottsdale Airpark traffic kinks over the next few years with realigned roads and traffic roundabouts. View article...

Experts: More Arizona growth in 2011, but housing lags Although it may not feel like it to many people, the economy is in the midst of a solid rebound that will gain strength over the coming years, a panel of economists said Wednesday. View article...

Mortgage Interest Rates on the Move Again ... Upward They've been sitting at half-century lows for months now, but that trend appears to have snapped as mortgage interest rates across the board rose again this week. One industry report released Thursday points out that long-term rates have been heading upward for three weeks straight; another says they've now hit a four-month high. View article...

Video: Lease Accounting Rules Could Hit Commercial. Click here to watch (approx 8 minutes).

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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