Daily News for Commercial Real Estate & Business – July 12, 2011

Here are the news articles you might find interesting today for commercial real estate and business:

Solon expands to offices in Phoenix, San Francisco Solon Corp. is opening offices in Phoenix and San Francisco to keep pace with the solar projects it is developing in the Southwest. Tucson-based Solon Corp., the U.S. subsidiary of Berlin-based Solon SE, has been active in both the Arizona and California markets building utility-scale photovoltaic power plants. View article...

Tenants, Glendale officials retain high hopes for Westgate Glendale leaders and tenants atWestgateCityCenter remain optimistic in the wake of last month's announcement that the shopping-and-entertainment complex may be sold at auction. Restaurant and shop operators said the ownership problems don't worry them too much as their businesses will remain open. View article...

Chandler hopes to revitalize aging, high-vacancy shopping centers Randy Exelby owns what is called a "destination shop," so his business will not be drastically affected by others going out of business around it. However, the owner of Behind The Mask, a hockey equipment and apparel store with three locations, does not like what has become of Kyrene Village shopping center, site of Exelby's Chandler shop. View article...

Phoenix cracks ‘Forbes' top 10 potential boom cities Phoenix is still a good bet to become a boom economy, despite its troubles in the recent recession, according to a Forbes magazine survey that labeled the next big boom towns in the U.S. Phoenix ranked ninth on the list, mainly because it still has more jobs than it did in 2000 and its population has become much larger and more diverse than its reputation as a retiree haven. View article...

Ratings Agencies Assess Pro Forma Underwriting in New CMBS As the second year of CMBS 2.0 begins, credit ratings agencies say they are taking stock of where credit quality stands and where it may be headed from here. With that assessment, conflicting views persist on the strength of the underwriting behind new commercial mortgage-backed securities (CMBS). View article...

Opinion: Downtown Mesa learns from Tempe's past Downtown Mesa is starting to feel a lot like Mill Avenue in the '90s - arty and slightly off kilter, but welcome to all. A handful of edgy, youthful shops are finding success there, making Main Street somewhat of an underground sensation. Hipsters and creative types are showing up in ever-larger numbers to collaborate, perform and peruse the off-kilter merchandise. View article...

Mesa council to discuss using eminent domain Eminent domain has been a touchy subject in Mesa ever since the city tried to condemn Randy Bailey's brake shop to make way for other businesses a decade ago. That plan was struck down in court, but Mesa still can use eminent domain to acquire land for strictly public projects. View article...

Foreclosure Sales Decline Second Straight Month Foreclosure sales declined for the second straight month, while foreclosure starts increased, according to HOPE NOW's monthly mortgage industry data for May 2011. Foreclosure sales nationwide decreased 7 percent from 73,000 in April to 68,000 in the month of May, according to HOPE NOW's data. View article...

Regulators Close Three Banks Regulators closed three banks over the weekend - two in Colorado and one in Illinois. Colorado Capital Bank, Castle Rock, Colorado, and Signature Bank, Windsor, Colorado, were closed by the Colorado Division of Banking, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. 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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