Daily News for Commercial Real Estate & Business – June 16, 2010

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

TNP REIT to Buy $8M Shopping Center TNP Strategic Retail Trust Inc. has agreed to purchase Northgate Plaza Shopping Center for $8.1 million, which translates into a 9.5% cap rate. View article...

Over half of Mesa condo complex in foreclosure More than half of the 166 Dobson Bay Club condominium units in Mesa are in foreclosure and will be sold to the highest bidder Aug. 25. View article...

Kimco/Israeli Group To Invest $422M in Retail Portfolio Kimco Realty Corp., a real estate investment trust, formed a new partnership with Israel-based BIG Shopping Centers to purchase 15 neighborhood and community retail centers for nearly $422 million including $385 million in mortgage debt. View article...

Scottsdale again declines Discovery Triangle role The Discovery Triangle project will move forward without Scottsdale's participation, at least for now. View article...

Cricket Wireless Pavilion renovations will be considered The Phoenix Parks Department has established a task force to look at possible renovations to Cricket Wireless Pavilion and the surrounding area. View article...

Phoenix among hardest hit cities during recession The Phoenix area ranks among the U.S. metropolitan areas hardest hit by the recession, according to a new report from the Brookings Institution. View article...

Industry execs see hope for hospitality market Hospitality executives who gathered at the Arizona Biltmore Resort and Spa Tuesday got some good news from analysts who follow the travel industry. View article...

Homebuilder confidence turns south Ending a run of two consecutive monthly gains, builder confidence in the market for newly built, single-family homes returned to February levels, according the National Association of Home Builders/Wells Fargo Housing Market Index, released Tuesday. 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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