Daily News for Commercial Real Estate & Business – May 11, 2010

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

H&M slated to open two additional Arizona stores Trendy Swedish-based retailer H&M is continuing to establish a foothold in Arizona and will open two more stores this summer. H&M opened its first Arizona store at The Quarter in Scottsdale last November. View article...

Three tenants sign for 130,000 feet at Ryan West Business Park in Tolleson An online retailer that specializes in "ride on" toys has leased 74,700 square feet at Ryan West Business Park, 8313 W. Pierce St., in Tolleson. Mobileation, which sells items like child-size cars, scooters, bikes and rocking horses, has been doing business in Anthem but will move this summer to the West Valley location. View article...

Developer files Chapter 11 on Grigio Tempe Town Lake Gray Residential LLC, a Phoenix-based apartment developer, has filed for Chapter 11 reorganization for one of its Grigio multifamily properties. The announcement was made through a written statement issued by Rose & Allyn Public Relations. View article...

Used-books store for kids opens in Phoenix A northeast Phoenix resident's love for children and reading has culminated in a new business. Cathy Green, a former preschool teacher, opened Tikes and Tales with her husband, John, at the southeastern corner of Greenway Road and Tatum Boulevard after realizing the area lacked a used-books store for kids. View article...

Construction begins on $7.8 mil Avondale recreational center The walls are going up for Avondale's 83,000-square-foot sports facility, the result of a public-private model that fills a need for recreation and gives the city a catalyst for development of its infant City Center. View article...

Collaborative Market Takes Shape The redevelopment of a shuttered Mervyn's into a community marketplace that will house 100 merchants, a specialty restaurant and a farmers market is nearing completion. Five merchants have signed leases at the project, dubbed POOL. They include: Aspen Renee Studios; Arizona Salsa Company; Great Embroidery; Latino Jewelers; and Thee Boutique. View article...

‘Blowout' Jobs Report Hailed by Real Estate Economists Lost in a tumultuous week in which the Dow Jones Industrial Average plunged 5.7% and rioting erupted in Greece over federal budget cuts and tax hikes in that debt-ridden nation was a monthly U.S. jobs report that easily beat expectations. 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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