Daily News for Commercial Real Estate & Business – January 6, 2010

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

Health club to open in April in Chandler

Club del Sport, a new health club that emphasizes nutrition along with exercise, plans to open in April at The Shops at Pecos Ranch, a shopping center at the northeast corner of Dobson and Germann roads, the company said.

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Green Planet Group subsidiary buys gold mine

Green Planet Group Inc. has bought a gold mine in northwestern Arizona through one of its subsidiaries.

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Work to begin on bus service linking Chandler, light rail

Valley Metro is breaking ground Jan. 14 on an $11.6 million LINK bus rapid transit route to serve Chandler, Gilbert and Mesa.

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2009 Year of 'No Activity'

PHOENIX-With the housing bubble and resultant subprime mess hitting Phoenix hard, it followed that retail would also be heavily, and negatively, impacted throughout much of 2008 and all of 2009.

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Valley bankruptcies shot up 82% in 2009

Valley bankruptcy filings soared nearly 82 percent last year compared with 2008 as the recession pushed more families to the financial brink.

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Phoenix Grubb & Ellis/BRE Commercial office joining Cassidy Turley ranks

Grubb & Ellis/BRE Commercial LLC in Phoenix is breaking its alliance with Grubb & Ellis effective March 1 and will become part of a new national commercial real estate company named Cassidy Turley.

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Effort under way to boost economic development, cut taxes

The state could create a $10 million fund for Gov. Jan Brewer to use to attract businesses to Arizona and there could be an effort to privatize the Arizona Department of Commerce.

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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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