Daily News for Commercial Real Estate & Business – May 28, 2010

I hope you have a great Memorial Day Weekend! The Daily News will go back out on Tuesday, June 1st.

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

Southwest Solar Technologies buys 58 acres in Glendale Southwest Solar Technologies purchased 58 acres in Glendale for $3.9 million. The company, formed in 2008, focuses on energy project development to delivers concentrated solar power with large scale energy storage. View article...

Grocery at Chandler Promenade preps for fall debut Red Development has announced the name of the new anchor grocery store arriving at The Promenade at Fulton Ranch in Chandler. The Market at Fulton Ranch is set to open this fall, along with center's grand re-opening. View article...

Glendale's David Chang temporarily shutters Zing David Chang had a dream. Four years ago, he opened Zang Asian Bistro in downtown Glendale with a menu and a sensibility that reflected his background: a man of Chinese descent born in Calcutta, India, who traveled around the world working for a pharmaceutical company. View article...

Glendale puts $25M in escrow for NHL, Phoenix Coyotes The city of Glendale has put $25 million into an escrow account after the National Hockey League threatened to move the Phoenix Coyotes to another market. The Glendale City Council approved a plan earlier this month to pay the NHL as much as $25 million in the upcoming hockey season to cover the team's costs. View article...

Most small businesses hold off on hiring Small businesses remain hesitant to add employees despite recent government incentives to promote hiring, according to the latest Wells Fargo/Gallup Small Business Index. Fifty-two percent of the owners surveyed April 12-16 say it is very unlikely that tax credits for hiring unemployed workers will prompt them to increase staff. View article...

Home prices show first annual increase in three years New research from Arizona State University shows that Phoenix-area housing prices in April posted a year-over-year increase for the first time in three years. View article...

BofA funnels $4.3B to Arizona's underserved areas Bank of America announced the investment of $4.3 billion in Arizona's low and moderate income areas, capping off the first year of its 10-year, $1.5 trillion goal for lending and investing for development in underserved communities. View article...

Sovereign Wealth Funds Pique Global Investor Interest, Survey Shows Investors around the world are showing renewed interest in sovereign wealth funds, state funds that invest public money in a range of assets, according to a new survey from Hill & Knowlton and Penn Schoen Berland, both research and communications firms. 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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