Daily News for Commercial Real Estate & Business – February 23, 2010

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

Radio Milano to become Radio Cafe

LGO Hospitality has closed its Radio Milano restaurant on Campbell Avenue for about five weeks for renovations. Changes at the eatery, which is across the street from sister restaurant La Grande Orange, will include a new moniker, Radio Cafe. View article...

HealthWorks acquires Tucson occupational sites

U.S. HealthWorks, a Valencia, Calif., operator of occupational health care centers, acquired Tucson Occupational Medicine's three centers. The acquisition expands the number of U.S. HealthWorks operated medical centers to 131 nationwide. The company also operates centers in southwest Phoenix, Tempe and Scottsdale. View article...

Oakville Grocery heads to CityScape in place of A.J.'s

Oakville Grocery will open in September in the new CityScape project in downtown Phoenix. The announcement was made Monday by RED Development Partner Mike Ebert, Phoenix Mayor Phil Gordon and Barbara Henderson, general manager of Oakville. View article...

Nike store set to open this fall at Scottsdale Quarter

Scottsdale Quarter will take a few steps forward with Nike opening this fall. Nike is planning a two-level store of 18,000 square feet east of the Apple and H&M stores, said T.J. Drought, Glimcher Realty Trust director of leasing. It is one of only three or four stores Nike plans to open this year, he said. View article...

Parent complains about Fascinations store near school

The parent of a kindergartner at Tonalea Elementary School has complained about the use of live models in front of the Fascinations adult store down the street from the school. After seeing women in front of the store on Christmas Eve, Dawn Wright wrote a letter to the school PTA earlier this month, asking whether there was a way for concerned parents to stop the activity. View article...

Luxury Hotel, Convention Center Planned by Pascua Yaqui Tribe in Tucson

A luxury hotel with 215 rooms and a conference center accommodating up to 1,500 guests are planned adjacent to the Pascua Yaqui Tribe's Casino Del Sol. Designs for the multimillion-dollar expansion project include includes a steakhouse with seating for 100; an international buffet with seating for up to 250; a lobby lounge and bar; an exercise facility with a spa; an outdoor pool; an arcade for teens next to the lobby and gift shop; and a parking structure with 1,120 spaces. View article...

Scottsdale: 26th in wealth study

Economists talk hopefully about a recovery, but the recession still holds America in its merciless grip. Key indicators tell the unhappy story. The national unemployment rate is hovering in double digits for the first time since 1983. Average wages have declined for two consecutive quarters, something that last occurred in the late 1970s. View article...

Waiting list starts for SBA loan breaks

The Small Business Administration has run out of money for incentives that made its loans less risky for lenders and cheaper for borrowers. As a result, the SBA will set up a waiting list by Monday for lenders who want a 90 percent government guarantee on the agency's flagship 7(a) loans and fee reductions for their borrowers. Loans on this waiting list will be eligible for these breaks if more money becomes available. View article...

2010: The Year of the Sale - Leaseback

Amid the soft economy, one of the best ways for corporations to raise capital at competitive rates, increase earnings, and enhance liquidity, is to monetize their real estate via a sale-leaseback transaction. The sale-leaseback model provides alternatives to traditional debt in order to fund mergers and acquisitions, construction of new facilities/renovations, new business ventures, stock repurchase programs, expansion to new markets or other special investment opportunities. View article...

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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