Daily News for Commercial Real Estate & Business – May 26, 2010

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

Restaurants, shops, offices have challenges to be met at SouthBridge Chef Marcellino Verzino pours an espresso for a visitor and himself at the wooden bar inside his SouthBridge restaurant. Light streams in from the windows of the unlit dining room as Verzino and his wife, Sima, talk about their recent move from Phoenix to downtown Scottsdale. View article...

Plan seeks Cave Creek shopping center north of Walmart Walmart plans to break ground on a Cave Creek supercenter this summer, with doors opening a year later. The news coincides with a landowner's proposal for a shopping center just north of the Walmart property. A site plan, up for review Thursday by the Cave Creek Planning Commission, calls for 100,000 square feet of commercial retail southeast of Carefree Highway and Cave Creek Road. View article...

Mesa Riverview still a work in progress, developers say Five years ago, Mesa voters approved tax incentives to lure a mega shopping mall, hotel and office development to the northwestern corner of the city based on projections that it would generate $5.6 million a year in sales-tax revenue and create 5,000 jobs. But after an epic downturn in the economy, Mesa Riverview has fallen well short of its lofty goals. View article...

Delaying light rail to Glendale until 2026 could doom project Light rail to Glendale is now 16 years away due to regional funding troubles caused by the recession, and city leaders are worried about the delay. Glendale originally was scheduled to open a light-rail line connecting to Phoenix by 2017. Metro, the light-rail governing board made up of representatives from across the Valley, then delayed the extension to 2019 and finally to 2026. View article...

Tax-credit vote could sink Gilbert biodiesel plant For months, everything was coming up roses for Gilbert business owner Dan Rees. His company, AZ BioDiesel, was building a bigger factory to dramatically increase its production capacity. His business partner wanted to go national and build new factories across the country. He's been turning a profit, and he's visibly passionate about his product. View article...

RECon 2010 Sound Bites: From CMBS To Wasilla The first two days of ReCon 2010, the annual convention of the shopping center industry, have produced some colorful quotes and sharp insights. What follows are some highlights from the trenches. View article...

Retailers Assess Doing Deals in the Downturn Some retailers are still growing today despite the downturn, but they face a different environment in terms of doing deals than they did when the economy was roaring. And that doesn't necessarily mean that they can call their own tune in lease negotiations because the recession has emptied out a lot of retail space, panelists pointed out at an ICSC panel Sunday at RECon, the annual ICSC spring conference here at the Las Vegas Convention Center. View article...

Experts Talk Hope, Financial Fears, Retail Reality Inklings of hope are returning to retailing, but financial system troubles could spoil the party. Meanwhile, Nordstrom president Blake Nordstrom says that successful retailers and developers today and in the future will be those who can increase their market share of a pie that may not be growing so much. View article...

Commercial Real Estate: To Default or Not Default? Borrowers in today's commercial real estate market face the daunting dilemma of deciding whether to default on their loans as a way to secure discounts in a struggling economy. According to "To Default or Not Default? That Is the Question," the latest podcast by John B. Levy & Co., commercial real estate owners are considering loan default as a viable strategy for managing troubled debt at a time when access to money has become tight. 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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