Daily News for Commercial Real Estate & Business – July 2, 2010

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

I hope you have a happy & safe 4th of July weekend!

To view the June/July 2010 Chain Store Age magazine, click here.

Acacia Capital Drops $33M for Two MF Assets Acacia Capital Corp. has spent $33.4 million on two class B multifamily properties totaling 699 units. The San Mateo, CA-based buyer acquired the 1980s-era communities from an undisclosed seller. View article...

Mortgage holder takes over Elevation Chandler The mortgage holder of Elevation Chandler foreclosed Thursday, taking possession of the troubled 10.6-acre parcel with a $1 million credit bid at a trustee sale. The public auction, in front of the Maricopa County courthouse, was calm and quick. View article...

Majerle's heads for Old Town Scottsdale Majerle's will launch its fourth restaurant in Old Town Scottsdale, with an opening date slated for December. View article...

Go AZ breaks ground on motorcycle mall Go AZ Motorcycles, a company started by Go Daddy Group founder Bob Parsons, is expanding at Scottsdale Airpark with a project it calls a "motorcycle mall." View article...

Steve Strickbine buys Scottsdale Airpark News Community news publisher Steve Strickbine has purchased the Scottsdale Airpark News, his company announced today. View article...

First Solar creates utility business First Solar Inc. is creating a business group to deal with its utility-scale solar power plants. View article...

Arizona payday lenders hit end of the road Today marks the end of the payday loan industry in Arizona, a victory for consumer advocates who blame the sector for charging high interest rates to the poor and uneducated. View article...

Mortgage rates fall to another record low Mortgage rates on 30-year loans tumbled to another record low for the second straight week. View article...

Glendale airport plans put on hold for now Before the economy soured, Glendale had visions of developing its small-plane airport into a busy, corporate-jet hub that could rival Scottsdale Airport. View article...

Where Will Future Development Occur? he location of new commercial real estate will be determined by how fast the economy recovers, how additional commercial development fits future residential strategies, and how decisions about growth are made. The U.S. economy will recover slowly. Consumers have reduced incomes and are saving more. Businesses are reluctant to expand without more customers, as jobs come back gradually. View article...

The Awakening As 2010 reaches its halfway mark, the euro crisis and the phase-out of economic stimulus programs in the United States are contributing to fears of a double-dip recession. Yet several economic indicators suggest that the year has also ushered in the first stages of recovery for the U.S. economy and the commercial real estate industry. 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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