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

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

To view this weeks "The Watch List" by Costar, click here. The good news is there is a slowing in commercial real estate loan charge offs.

Fresh & Easy marks No. 31 with Ahwatukee opening

A new Fresh & Easy Neighborhood Market will open next month on Ray Road in Ahwatukee. View article...

Suntech plant heads to Goodyear with 75 jobs

Suntech Power Holdings Co. Ltd. has leased a manufacturing facility in Goodyear, and will bring along about 75 jobs to start. Production of solar panels could being by the fall. View article...

Culinary Dropout hits Scottsdale Waterfront

Culinary Dropout is opening Wednesday at Scottsdale Waterfront in the former Pink Taco location. The restaurant is a Sam Fox concept and joins nearby eateries operated by the food guru, including Olive and Ivy, also located in the Waterfront, and Modern Steak, located across the street at Scottsdale Fashion Square. View article...

Kyl opposes west-side casino plans

U.S. Sen. Jon Kyl, R-Ariz. added his name to the list of public officials opposing a $500 million casino proposed west of Phoenix by the Tohono O'odham tribe. View article...

Chicago Cubs staying in Arizona for spring training

The Chicago Cubs picked Mesa over Naples, FL as their long-term spring training home because of decades of sellout crowds and a good working relationship with Mesa officials. View article...

Phoenix lands $60M grant to help neighborhoods plagued with foreclosures

The city of Phoenix has landed a $60 million federal grant under the Neighborhood Stabilization Program. Phoenix Mayor Phil Gordon is set announce details in a press conference Thursday morning. View article...

Union Pacific spending $42M on AZ upgrades

Union Pacific Railroad announced Tuesday that it is spending $42 million to upgrade rail lines in Arizona. Construction is under way in Phoenix, Mesa, Tucson and along the main line between Yuma and Casa Grande. View article...

Glendale: CityNorth ruling won't impact Coyotes deal

The city of Glendale says the Arizona Supreme Court's ruling on CityNorth's tax subsidy won't impact a lease deal it is forging with the new owners of the Phoenix Coyotes. View article...

Consumer confidence in Arizona slumps

After taking its first positive bounce in years last fall, the confidence of consumers is again sliding. The latest figures put the Arizona Consumer Confidence Index at 50.2. That is 10 full points below where it was in September. View article...

Year-over-year home price decline slows

Home prices in the Phoenix metro area are declining at more modest rates than they did in 2009. If the trend continues, prices might stop falling and level off. That's the assessment of the Arizona State University-Repeat Sales Index, which compares changes in average home prices from year to year. View article...

Commercial Real Estate: Hey, Save a Piece of Stimulus Pie for Me!

Following a year that saw the near meltdown of the banking system and the sweeping impact of a global recession, 2010 could shape up to be a better year for investors, though perhaps not as robust as some would wish. According to "Ordering Your Slice of the Stimulus Pie," the latest podcast produced by John B. Levy & Co. View article...

Retail Contractors Expect Business to Remain Slow in 2010.

As Steven B. Rivers, senior vice president and general manager with Hardin Construction Company LLC, an Atlanta-based general contractor, looks over the firm's forecast for this year, he expects the volume of retail projects Hardin constructs to be down significantly from both 2008 and 2009. For the past two years, Hardin has completed between $150 million to $170 million in retail work, a lot of it comprised of large projects that began construction back in 2007. 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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