Daily News for Commercial Real Estate & Business – June 18, 2010

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

Happy Trails on the Light Rail (After 7 years of working with this developer, the ground breaking finally occurred yesterday! My friend, Nick Bastian, wrote this article about the event) Today's groundbreaking ceremony for the Apache ASL Trails 55 and over deaf community was quite an eye opening experience. View article...

To view the June Edition of Real Estate Forum, click here.

To view the Phase 2 Shopping Habits Report by ICSC, click here. This report discusses how the recession has impacted buying habits.

Paul Allen's Vulcan Inc. pays $35M for Tempe building The real estate arm of Microsoft cofounder and Seattle Seahawks owner Paul Allen's Vulcan Inc. has bought an office building in Tempe for $35 million. View article...

Nivel Parts Leases 57,000 SF at Riverside @ 51st Nivel Parts & Manufacturing Co., a manufacturer of golf carts and parts signed a lease for 56,686 square feet at Riverside @ 51st in Phoenix. The distribution building at 2300 S. 51st Ave. totals 335,459 square feet and situated on 19.2 acres. View article...

Centurion and DAVINCI Open Downtown This week the New Times Chow Bella dining blog reported that Centurion, the latest venture from Downtown restaurateurs Eric and Leann Osburn, opened last weekend for First Friday. View article...

Landlord-tenant tension builds up on Mill Avenue in Tempe Nahom Herzel has little patience for underperforming tenants. The owner of four buildings near Sixth Street and Mill Avenue, Herzel's tenants include such downtown Tempe mainstays as Campus Corner, Mill Avenue Cue Club and Hippie Gypsy. View article...

New bridge in N. Phoenix will evolve into extensive Loop 303 In north Phoenix, work has begun on a bridge that eventually will be part of Arizona's newest freeway, the Loop 303. View article...

Ice Edge Holdings a step closer to Phoenix Coyotes purchase Glendale's quest for a new owner of the Phoenix Coyotes advanced Thursday. Ice Edge Holdings, the lone bidder in exclusive negotiations with the city for the team, submitted documents to show Glendale that it has enough financing to buy the Coyotes, group spokesman Robert Johnson said. View article...

$15 million Mesa rehabilitation center to provide 90 jobs Mesa is adding another notch to its belt of specialty health-care providers, making it an attractive place for a growing senior community. Santé Partners, a Salem, Ore.-based health care real-estate development firm, is building the first of four planned Valley-wide transitional rehabilitation centers in Mesa. The firm plans to build other locations in Scottsdale, Surprise and Chandler. View article...

Unemployment inches up in Arizona Unemployment in Arizona and Phoenix inched up in May despite a boost from U.S. Census hires, according to an Arizona Department of Commerce report released Thursday. View article...

Deals Are On the Rise, as Capital Returns to the Market With approximately $700 billion worth of loans coming due on distressed properties over the next four years, transaction activity in commercial real estate is picking up this year, albeit slowly, and is expected to intensify in 2011 and 2012. View article...

Smaller REITs See Transactions Pick Up Earlier this year, it was companies like Chicago-based Equity Residential, Palo Alto, Calif.-based Essex Properties Trust, and Alexandria, Va.-based AvalonBay Communities that were announcing the larger transactions. Though their smaller REIT brethren were active making some deals, it seems that recently, transactions by the little guys have picked up. 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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