Daily News for Commercial Real Estate & Business – June 22, 2010

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

Weidner Takes 258-Unit MF Property for $17M Weidner Investment Services has acquired the 258-unit Monterra, a class A apartment complex, for $16.7 million in an off-market transaction. The company bought the property from Aslan Realty Partners, a Chicago-based investment fund. View article...

Schools Fill Vacancies in Office Parks, Shopping Centers Shopping-center and office-park owners, saddled with vacant space since the start of the recession, are finding unlikely saviors: for-profit colleges. View article...

Arizona No. 2 in new jobs since 2000 Over the past 10 years Arizona has added more jobs than every state except one, according to new figures from the U.S. Bureau of Labor Statistics. View article...

Ahwatukee retailers share stories of losing businesses Until this spring, they were among Ahwatukee's most successful small retailers. MudPie Home Boutique's Mike D'Amato, My Wine Cellar and Lucy's Place's Kathleen Fordyce and That Italian Place's Larry Hughes created gathering spots with the cachet to bring business from other parts of town. View article...

Rise in sales-tax revenue a welcome sign for Phoenix Phoenix is reporting positive year-over-year growth in sales-tax collections for the first time in three years, a sign the city is on the road to economic recovery, city officials say. View article...

Study: Shoppers show signs of optimism Wallets and purse strings are starting to loosen when it comes to shopping. View article...

QC homes an example of airport development debate How much housing should be built near Phoenix-Mesa Gateway Airport? National experts have said - and there is consensus among local officials and developers - that Gateway needs some housing nearby to sustainably support thousands of high-wage jobs. View article...

Phoenix light-fixture repairman looking for buyer Talking to 84-year-old Steve Brown, owner of Wizard of Odz in northeast Phoenix, is like switching on the power to one of the lighting fixtures he has repaired in his 64 years in business. View article...

Anthem foreclosures increase at rapid rate The number of foreclosures in Anthem quadrupled during the first five months of this year, according to numbers provided by a national firm that tracks the data. Arizona Regional Multiple Listing Services, IMAPP Inc., a company based in Tampa, Fla., collects property and tax information from counties such as Maricopa County. View article...

Economic Conditions Snapshot, June 2010: McKinsey Global Survey results Over the past two months, the share of executives expecting troubled global markets to overwhelm domestic fundamentals has doubled, to 18 percent. This is perhaps the most telling of several findings from our most recent survey, indicating how deeply the eurozone's financial crisis has shaken executives' confidence in the world economy. 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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