Daily News for Commercial Real Estate & Business – March 2, 2011

Bureau of Land Management to develop three solar energy plants in Arizona A draft plan on the solar potential of federal land identifies three Arizona sites encompassing nearly 14,000 acres as highly suitable for energy development. View article...

Ling & Louie's owner sets goal of national expansion The owner of Ling & Louie's Asian Bar & Grill restaurant concept is ramping up expansion plans with the goal of going nationwide in the next few years. The concept was created and is owned by Scottsdale-based Desert Island Restaurants. The original restaurant is on Shea Boulevard east of 92nd Street. View article...

Arizona Corporation Commission OKs Qwest, CenturyLink merger The Arizona Corporation Commission approved a deal in Arizona to allow CenturyLink Inc. to buy Qwest Communications International Inc., pushing the merger of the two telecom companies closer to completion. View article...

Manufacturing back at 2004 level February data from Tempe's Institute for Supply Management show the U.S. manufacturing sector reached its highest level of productivity since May 2004. View article...

Arizona beats nation in small business jobs A new report from Intuit shows Arizona was among the national leaders in small business job growth in February. The Intuit Small Business Employment Index found that nationwide, small businesses added about 50,000 jobs in February for a monthly growth rate of 0.3 percent. In Arizona, that rate was higher, at 0.7 percent. View article...

Investors Look to Expand Retail Portfolios Seen from the air, the Regent Street shopping district cuts a majestic path through central London. The whitish gray facades of the multistory buildings owned by the queen of England's asset manager are a major destination for international shoppers. View article...

Delinquency Rate for CMBS Hits a Record The delinquency rate for commercial mortgage-backed securities reached record levels in February, as commercial real-estate deals made in the market's peak continue to struggle despite rising values in some parts of the country. According to research firm Trepp, 9.39% of all CMBS loans were delinquent in February, a modest increase from 9.34% in January. View article...

New Vista Acquires REDC's REO Asset Management Business New Vista Asset Management, a San Diego-based REO asset management firm, announced Tuesday that it has purchased the REO asset management business unit of REDC Default Solutions, LLC. Terms of the transaction were not disclosed. View article...

Geithner Concedes Government Incentives Distorted Housing Market In a speech given Tuesday before the House Committee on Financial Services, Treasury Secretary Timothy Geithner said the government played a role in bringing down the housing market. 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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