Daily News for Commercial Real Estate & Business – July 28, 2010

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

Jury awards $110M to Gray Development A jury has awarded a Phoenix developer $110 million in connection with a stymied high-end apartment project near the CityNorth development in North Phoenix. View article...

Valley Industrial Market Shows Signs of Life The Valley Industrial market is finally showing signs of improvement, posting positive net absorption and decreased vacancy during the second quarter, according to a recent report from Cassidy Turley BRE Commercial. View article...

Bonds for hotel at Phoenix's CityScape pursued The developer of downtown Phoenix's CityScape wants to be first in line for millions of dollars in tax-exempt bonds to build the 250-room Hotel Palomar. View article...

CVS/pharmacy opens in downtown CityScape Downtown Phoenix's first pharmacy in decades opened Monday, signaling the first of many store and restaurant grand openings in the $900 million CityScape development. View article...

Foreclosure looming for Westgate office building A Westgate City Center office building in Glendale that has sat vacant for 18 months is facing foreclosure. View article...

POOL Together aims to be Mesa's upscale indoor marketplace Nearly 50 businesses will debut at a new location - or even for the first time - on Friday, when an old department store will be reborn as an indoor Mesa marketplace. View article...

Phoenix ranks high among best cities for working moms Phoenix is ranked 15th overall in a list of 50 U.S. cities that offer the most to working moms, published by ForbesWoman. View article...

Valley restaurant to be featured on Food Network Queen Creek Olive Mill's on-site restaurant, del Piero Cafe, will be featured on the Food Network's "The Best Thing I Ever Ate" in an episode to be aired locally at 9 p.m. Aug. 2. View article...

Canadian group to build homes in Goodyear Mattamy Homes U.S. Group, the U.S. division of the Canadian home builder, acquired 58 home sites at Canyon Trails in Goodyear and plans to introduce five new home designs there. View article...

Pedestrian bridge connecting Scottsdale takes shape Paolo Soleri, the famed architect who designed Arcosanti 40 years ago, watched his latest effort come closer to fruition Monday: a pedestrian bridge linking areas of downtown Scottsdale. View article...

AGC: Metros still shedding construction jobs Construction employment declined in 285 out of 337 metropolitan areas between June 2009 and June 2010 according to a new analysis of federal employment data released today by the Associated General Contractors of America. View article...

Housing prices are likely to go lower Thought the housing crisis was over? Not quite. View article...

'Returnaholics' spur retailers to tighten policies Derek Rodner calls them "returnaholics," a breed of shoppers costing the retail industry an estimated $10 billion to $15 billion a year, according to the National Retail Federation. View article...

Financial Reform Will Test Patience of Commercial Real Estate Professionals It will be months or years before the commercial real estate industry feels - or even fully understands - the full impact of sweeping financial reforms that the president signed into law earlier this month, experts say. View article...

Developers Rethink the Mall for the 21st Century Prior to the downturn the consensus in the real estate industry was that the days of the traditional regional mall were over. But a funny thing has happened: The recession has thrown a wrench into that theory. 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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