Daily News for Commercial Real Estate & Business – July 14, 2010

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

To view Second Quarter 2010 Analysis of Metro Phoenix Office, Industrial, Retail markets as reported by CBRE, click here.

Effects of light-rail on businesses mixed, owners say At the eastern end of the light-rail line in Mesa, Omar Torres and Howard Gaebel sell hot dogs, snacks and drinks to passersby in the summer heat. Their business, a hot-dog stand called Metro Dog, owes its existence to the light-rail system. View article...

Palm Lane neighborhood may get QuikTrip station, park In March, members of the Camelback East Village Planning Committee denied a request to rezone a residential parcel on the southwestern corner of 44th Street and Palm Lane. View article...

Retailers vacate 609,692 SF in first half Retailers continue to abandon property in the Phoenix area with a net loss of 609,692 square feet, or 0.4 percent of the market's total space, so far this year, according to CB Richard Ellis. View article...

Arizona drew 5.6% fewer visitors in '09 Arizona attracted 2.1 million fewer visitors in 2009 and tourist spending declined more than 10 percent, according to figures released today by the Arizona Office of Tourism. View article...

Fed to banks: Lend more to smaller firms Big companies are building up cash and are expected to report strong earnings starting this week. Not so for small businesses that can't get loans - or hire freely until they do. View article...

Small business optimism dips A new survey from the National Federation of Independent Business shows that small business owners are growing less confident in the economy. View article...

Managers of Distressed Centers Recruit Tenants to Help Their Cause When Woodbury Corp. took over the management of a retail center in foreclosure in Utah, the firm lacked the information it needed to address an assortment of property management issues. Woodbury wasn't provided with a current tenant roster or documentation detailing whether tenants had been keeping up with their rents. View article...

If you want a copy of the latest foreclosure spreadsheet, email me and I will send it to you.

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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