Daily News for Commercial Real Estate & Business – July 21, 2010

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

Phoenix Apartments Sell for $45 million as Market Shows Improving Health With a spate of big-ticket sales, the apartment market is rumbling out of the economic chasm that captured transactions nationwide over the past two years. In Phoenix, for example, a 629-unit apartment complex sold earlier this month for $45.5 million. View article...

Charter school causing uproar in Sun City Children, a rare sight in Sun City, could become more common in the northwest Valley community widely known for its active-senior living. View article...

Massive transit cuts set to impact Valley commuters Transit users will find the deepest transit rollbacks in Valley history on Monday, when 27 routes will be cut back or cut entirely. View article...

Tempe Town Lake dam bursts A section of the inflatable rubber dam that forms Tempe Town Lake exploded shortly before 10 p.m. Tuesday, sending a wall of water into the Salt River bed. View article...

Cancellations push down mortgage modification numbers More than 51,000 struggling homeowners received long-term mortgage modifications under President Obama's Making Home Affordable Program in June. View article...

Median earnings up 0.8% in 1Q Median weekly earnings for the nation's 99.8 million full-time workers rose 0.8 percent to $740 in the second quarter compared with the previous year, the U.S. Bureau of Labor Statistics reported Tuesday. View article...

Homebuilders slowed starts in June Housing starts in June were lower compared to both the previous month and year-ago levels, according to a government report Tuesday. View article...

CMBS Market Rises From Ashes of Collapse Even as woes mount in the commercial-real-estate market, a once-vital source of funding for commercial-property owners is showing signs of life. View article...

New wireless broadband network to launch next year U.S. consumers and businesses are going to get more options in wireless service starting next year, with the launch of a new wireless broadband network that will provide competition to the incumbent phone companies. 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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