Daily News for Commercial Real Estate & Business – June 2, 2010

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

State selling more buildings to ease budget deficit More state buildings go up for sale next week, as officials hope to raise $300 million by selling and then leasing back the schools for deaf and blind children, more state prisons and other structures in an attempt to raise $300 million. View article...

CityNorth foreclosure sale postponed again The CityNorth foreclosure sale scheduled for Wednesday has been postponed a second time. The sale has been rescheduled for June 16. It originally was scheduled to occur March 31. View article...

Peoria aims to brand corridor an entertainment sector It's touted as one of Peoria's greatest assets, but the northwest Valley city is figuring out how to take a successful commercial corridor to the next level. The Arrowhead Fountains area, near bustling 83rd Avenue and Bell Road, began more than a decade ago before master-planned commercial centers came into vogue. View article...

Glendale City Council approves rezoning for 'Urban 95' project Glendale City Council unanimously approved a rezoning that will bring office, commercial, hotel and residential units to 45 acres at the southwestern corner of 95th and Missouri avenues. Resident Cynthia Halsey spoke in favor of the development plan dubbed "Urban 95," welcoming the project as neighbors. View article...

Scottsdale Healthcare expansion gets board approval Scottsdale Healthcare Osborn Medical Center could soon start its face lift. The Scottsdale Planning Commission last week unanimously approved Scottsdale Healthcare's rezoning request that would allow for expansion and improvements at the nearly 50-year-old downtown hospital. View article...

Salon, hamburger restaurant to open in CityScape A Scottsdale salon and a hamburger restaurant have announced plans to open locations downtown Phoenix's CityScape project this summer. Par Exsalonce, which has been in Scottsdale 22 years, will occupy 4,000 square feet, along Washington Street on the west block of the project between Central and First avenues. View article...

Transit programs receive $6M Several local transit organizations will receive more than $6 million in grant money from two Federal Transit Administration programs. View article...

AZ hotels: More guests, less revenue Arizona's hotels and resorts saw more guests in the first quarter of 2010 compared to a year earlier, but revenue remains lower. View article...

Manufacturing index: Growth marks 10th consecutive month Economic activity in the manufacturing sector expanded in May for the 10th consecutive month, and the overall economy grew for the 13th consecutive month, according to the Manufacturing ISM Report On Business. View article...

For CMBS, 'Worst Is Yet to Come' In 2007, at the height of the commercial real-estate boom, Credit Suisse Group packaged 250 mortgages into bonds and sold them to investors in a $3.3 billion issue of commercial-mo rtgage-backed securities. 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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