Daily News for Commercial Real Estate & Business – June 10, 2010

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

To view this week's, "The Watchlist," by Costar, click here. Here are a couple article headlines in this week's report:

· Tranzon: Bank-Owned Apartment Buildings...

· Boxer Property Innovative Property Management Specializing in Distressed Assets...

· Cassidy Turley Columbus Ohio Commercial Investment Properties...

· REDC Commercial: Bank-Owned Commercial and Nonperforming Notes...

· Investcap Advisors LLC: CMBS Insight Is its Specialty

Podcast: High Foreclosure Rate and Unemployment Make Housing Recovery Hard to Read (this is about 10 minutes) The Phoenix resale market slowed a bit in May when compared to April, possibly because activity spiked last month as the federal first-time home buyer program came to a close...View article...

ASU-RSI Up: Phoenix Housing Market Appears To Be Stabilizing The Phoenix housing market appears to be stabilizing as preliminary data for April shows a 1 percent year-over-year price increase for the first time in almost three years, according to the ASU-RSI (Repeat Sales Index). View article...

APEX Planning 11 New Plants and 650 New Jobs Lacuna Inc. subsidiary APEX Block Corp. unveiled a new business plan last week that will see the creation of more than 650 jobs. The lightweight concrete block manufacturer is planning 11 new plants across the nation over the next 16 months. View article...

B/E Aerospace Inks Biggest Industrial Deal in E. Valley CHANDLER, AZ-B/E Aerospace has signed a 15-year lease for 48,000 square feet at 10 Chandler. The deal is the largest transaction in the East Valley so far this year, according to David Krumwiede, executive vice president for Lincoln Property Co., which developed and owns 10 Chandler. View article...

Court tower project adds escalators for $6.3 million The Maricopa County Board of Supervisors on Wednesday agreed to spend $6.3 million to install escalators in the court-tower project under construction in downtown Phoenix. View article...

Worries increase along with Arizona's debt magine selling your house to raise money - and then leasing it back, with interest, over 30 years. That's essentially what Arizona is doing this week as it conducts a two-day sale of state buildings. View article...

Glendale welcomes West Valley's first visitors bureau The West Valley's first convention and visitors bureau will open this month in Glendale, adding a new player to the big-league ranks of convention bureaus in Phoenix and Scottsdale. View article...

Judge: Fisher lacked OK to asphalt build plant Fisher Sand & Gravel Co. shouldn't have built an asphalt plant in a south Phoenix neighborhood four years ago, because it never got a proper permit, a Maricopa County Superior Court judge ruled on Wednesday. View article...

Recent Deals Signal Spark in CMBS Market The commercial mortgage-backed securities (CMBS) market is beginning to defrost - faster than many had expected, but definitely slower than anyone had hoped. But, it's much too early to say that a robust CMBS market is reemerging, simply because new CMBS issuances have been unimpressive. View article...

Analyst: Fast-food sales won't rise until unemployment falls Several fast-food chains may have to wait until more young men find jobs before seeing same-store sales rise, according to a restaurant analyst. Jefferies & Co. restaurant securities analyst Jeff Farmer said in a note to investors this week that an analysis of ten years of quarterly same-store sales trends and unemployment data shows that same-store sales for three chains - Jack in the Box, Sonic and Burger King - are the most highly correlated with the unemployment rate. 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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