Daily News for Commercial Real Estate & Business – December 9, 2009

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

Arizona Credit Union to close 8 branches

Arizona Federal Credit Union will close eight branches by January to ensure "long-term success," the company announced Tuesday.

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Kitchen fire closes Durant's Tuesday

Durant's restaurant in central Phoenix closed down Tuesday by a small fire in the kitchen.

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Fall Line Testing brings HQ to Tucson

Fall Line Testing & Inspection LLC, a construction testing and inspection firm, has paid $600,000 for a 10,000-square-foot building at the Airport Commerce Center in Tucson, where it will move its headquarters.

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Colangelo group closes in on Wigwam deal

A deal headed by Arizona sports chieftan Jerry Colangelo to purchase the iconic Wigwam Resort & Spa is one step closer to reality.

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Manpower: Phoenix hiring to pick up in first quarter

Phoenix-area businesses should post some job gains in first-quarter 2010, according to a new Manpower Employment Outlook Survey.

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Mesa steel mill to employ about 200

CMC Steel Arizona officially opened its state-of-the-art steel mill in east Mesa Tuesday in the face of an economic recession that has severely depressed demand for the plant's output.

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Franchisees see more sales, growth in 2010

A recent survey of casual-dining and quick-service franchisees indicates they are optimistic about growth in restaurant sales in 2010, despite declines this year, and many are planning to open more units in the New Year.

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2010 Global Economic Forecast: Better than '09, but still not good

At the G-20 meeting in Pittsburgh, Penn., last September, leaders representing 90 percent of the global economy agreed to continue fiscal and monetary help for as long as it takes to put the world back on a positive growth path.

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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.

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