Daily News for Commercial Real Estate & Business – June 22, 2011

Here are the news articles you might find interesting today for commercial real estate and business:

1031 Exchange Activity in the Southwest We all know that 1031 Exchange activity has been slow at best over the past couple of years. My friends over at IPX 1031 provided me a chart that shows the activity based upon quarter dating back to 2003. The good news is that...View article...

Time to Buy? Time to Sell? Time to Hold? A recent Real Estate Research Corporation survey shows that the investment market seems to lack conviction, with 50 percent of participants for holding, 20 percent for "folding" (or selling), and only 30 percent for investing. Read how the percentage spread across the various industry sectors. View article...

State trust land in north Scottsdale sells for $3.5 million A 20.64-acre parcel of state trust land in north Scottsdale sold for $3.49 million today at an Arizona State Land Department auction. The commercially zoned land northwest of Bell Road and Thompson Peak Parkway wraps around the Windgate Crossing shopping center. The winning bidder was McDowell Windgate Holdings LLC, whose principals are Charles and Kelly Byxbee. View article...

Downtown Chandler may snare 'large employer' An unidentified "large employer" is in negotiations to move into downtown Chandler. Mayor Jay Tibshraeny made the announcement Thursday at the annual breakfast of the Downtown Chandler Community Partnership at the Crowne Plaza San Marcos Golf Resort. He said he had hoped to make the announcement of who the tenant will be and not just tease the audience, but the deal wasn't signed yet. View article...

New Surgical Hospital Offers High Tech Care with a Human Touch On June 27, the first patients will be admitted to the Orthopedic and Spine Inpatient Surgical (OASIS) Hospital. OASIS Hospital represents a partnership between Catholic Healthcare West and United Surgical Partners International. View article...

Customers dig 3 Roots Coffee House The 3 Roots Coffee House and Cafe, an independently owned coffee shop in downtown Tempe, has seen steady business and more customers since its reopening in July. The shop at 1020 S. Mill Ave. is near Arizona State University's Gammage Auditorium. It provides a culture-friendly environment where a good cup of coffee is not the only thing customers are looking for. View article...

Westgate timeline: A look back at our coverage since 2003 Westgate City Center in Glendale has had its fair share of ups and downs over the past decade. The biggest downer came Monday, when it fell into foreclosure. Westgate began with what then was called Glendale Arena. View article...

Retailers, shoppers react to Westgate foreclosure Westgate City Center's possible foreclosure has spread to the business owners and patrons of the complex. Moe's Southwest Grill sits on the northwest corner of Westgate's 223 acres, and General Manager Malcolm Walker said the foreclosure has yet to impact the business directly. View article...

Gannett's 700 layoffs likely to impact Arizona Republic Gannett Co. Inc. is cutting 700 jobs at its community newspapers division, or about 2 percent of its workforce. Gannett is the parent company of The Arizona Republic, USA Today and KPNX-TV Channel 12 in Phoenix. Gannett owns more than 80 daily newspapers with 20,000 workers. It says the cuts are being made locally by papers based on their market conditions. View article...

Making Sense of Debt Yield Ratios When applying for a mortgage on your hotel, it is useful to understand the various analytical tools lenders use to evaluate the size and terms of the loans they are making. Up until a few years ago, the preferred benchmark lenders relied on was the debt coverage ratio. Recently, a new tool called the debt yield ratio came into vogue, which seems to be used by most hotel lenders today. 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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