Daily News for Commercial Real Estate & Business – March 16, 2010

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

Wellgenix Leases 8,361 square feet in Tempe

Wellgenix/Heaven Sent Naturals has a signed a 5 year lease on approximately 8,361 square feet within the Pointe Office Suites in Tempe, AZ. Wellgenix/Heaven Sent Naturals is a supplier of nutritional supplements. The offices will be used as a customer service call center. View article...

Home loan company to fill 100 jobs at Kierland office

A northeast Phoenix company that specializes in helping banks with short sales wants to hire 100 employees by the end of the month. Loan Resolution Corp. recently landed contracts with two nationally known banks seeking to minimize short sales by their homeowner customers, said Travis Hamel Olsen, chief operating officer. View article...

Thomas Road bridge spans Mesa's past, future

Between a seldom-used road and 100 acres of citrus on the northern outskirts of Mesa, a $2.7 million bridge arcs over the freeway on a dead-end path for all but a few motorists. While not exactly a "Bridge to Nowhere," the Thomas Road span over the Loop 202 Red Mountain Freeway stands as a monument, but a monument to what depends on whom you talk to. View article...

First Solar sells 30-megawatt plant in New Mexico

First Solar Inc. has sold a 30-megawatt solar plant in New Mexico to Southern Co. and Turner Renewable Energy. Terms of the deal were not disclosed. Tempe-based First Solar (Nasdaq:FSLR) built the Cimarron I solar project and, like some other recent projects, sold it to utilities. View article...

Sky Harbor hits peak season for next 2 months

While other U.S. airports see a deluge of visitors during the winter holidays, Phoenix's sees its biggest crowds in the spring. "March and April are the busiest months at Sky Harbor," said Deborah Ostreicher a deputy aviation director at Phoenix Sky Harbor International Airport. "This is largely due to spring training and school breaks, when travelers are both coming to and leaving the Valley." View article...

Dunkin' Donuts reports 2009 growth

Dunkin' Donuts said Monday it opened 351 net new locations worldwide in 2009, to finish the year with more than 9,000 restaurants tallying $5.7 billion in systemwide sales. In 2008, Dunkin' Donuts reported that it operated or franchised 8,800 locations and recorded systemwide sales of $5.5 billion. Last year's growth included the opening of 171 net locations in the United States, 90 percent of which were outside the chain's core New England market. Dunkin' Donuts also said it had signed 131 new franchise commitments in the U.S. Much of the chain's growth included openings in non-traditional locations, such as airports, arenas, travel plazas and universities. View article...

Men's Wearhouse Identifies 145 Stores for Probable Closure

During 2009, Men's apparel retail chain, Men's Wearhouse, opened 6 new, but closed 41 stores. Due to geographic overlap caused by its 2006 acquisition of the AfterHours Formalwear chain, the company has identified 145 stores that it would likely close. View article...


01/21/10 - TENANT IMPROVEMENT at 1345 W. Elliot Rd. for The Dump Showroom Declared Valuation: $1,500,000 Plan Check No.: PC09-0823

01/26/10 - ADDITION/ALTERATION at 7414 S. Harl Ave. for Coca-Cola Enterprises Declared Valuation: $2,500,000 Plan Check No.: PC08-0652

01/29/10 - NEW 408 UNIT MULTI-FAMILY/RETAIL DEVELOPMENT at 1811 E. Apache Blvd. for Arete - Tempe Transit Declared Valuation: $39,514,000 Plan Check No.: PC08-0222

Commercial Mortgage Debt Rallies as TALF Ending: Credit Markets

Commercial mortgage-backed bond returns are accelerating as the Federal Reserve ends support for the $700 billion market, showing growing confidence that loan defaults won't derail the economic recovery. The securities, derived from debt on skyscrapers, shopping malls and hotels, returned 7.41 percent through March 12, compared with 2.55 percent in the fourth quarter, according to a Barclays Capital index. Top-rated securities are yielding about 3.03 percentage points more than Treasuries, the lowest spread since August 2008, according to Morgan Stanley data. View article...

FCC unveiling sweeping national broadband plan

More corners of the country would have high-speed Internet access and existing connections would become much faster under a sweeping proposal to overhaul U.S. broadband policy that is being unveiled Tuesday. The plan from the Federal Communications Commission is meant to guide the government's strategy on broadband for the next decade and beyond. It reflects the Obama administration's concern that the nation that invented the Internet is in danger of falling behind the development of online applications in other countries that have faster broadband speeds at lower prices. View article...

Feel free to contact me regarding any of these stories, the current market, distressed commercial real estate opportunities or your property.


  1. Great effort of providing an overview to the commercial real estate. I would like to put forward a question regarding the brokers confidence in the real estate sector of U.S. The federal taxes incentives to the consumers in U.S will not be available form the month of April because the government thinks that the sector has shown improvement and now it is headed towards stability. If it is a good sign then why did the brokers confidence decline in U.S real estate market?
    .-= Dubai Mortgages Blog´s last blog ..UAE real estate market power will shift back to the landlords in 2010 =-.

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