Daily News for Commercial Real Estate & Business – June 25, 2010

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

CityNorth foreclosure sale delayed again Once again, buyers were either not found or not ready to bid on the High Street buildings of the CityNorth project. View article...

Enterprise Bank opens Camelback branch Enterprise Bank & Trust has opened full-service branch at 2730 E. Camelback Road after operating a loan production office there for more than two years. View article...

Earnhardt Auto Centers buys Pioneer Ford in Goodyear Chandler's Earnhardt Auto Centers is betting on the recovery of the U.S. car industry while other dealers are distancing themselves from domestic brands. View article...

Sale of Tempe Gateway buoys downtown backers The sale of Tempe Gateway is being called a harbinger of good economic news. "It's really a demonstration that we are absolutely on our way to recovery," said Nancy Hormann, president and executive director of Downtown Tempe Community, a non-profit organization of landowners that works on the area's economic development. View article...

Opinion: Buses, commuter rail should take priority Why is a 2.6-mile streetcar line in central Tempe moving forward, when a bus route and commuter-rail line that would connect more riders in multiple cities are being postponed? View article...

Hotel Valley Ho makes plans to add rooms, pool Hotel Valley Ho plans to add 55 rooms, meeting space and a pool south of its existing property. View article...

Walmart's grocery addition likely to be done in October The Walmart at Chaparral and Pima roads will be poised to steal customers from surrounding supermarkets when it begins selling groceries in late October. View article...

Commercial Property Prices Rebound Unevenly, Index Shows The Moody's/REAL commercial property price index (CPPI) shows that prices have dropped 16.4% from a year ago. However, property prices have rebounded 4.7% since October 2009. 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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