Daily News for Commercial Real Estate & Business – May 7, 2010

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

Barnet, Dulaney Buy Two Med Offices for $7M Barnet, Dulaney, Perkins Eye Center has purchased two medical office buildings for $6.6 million with the help of financing provided by locally-based office of Cohen Financial. The properties include a 14,506-square-foot office at 5250 E. Southern Ave. in Mesa, AZ and a 14,230 office at 9425 W. Bell Rd. in Sun City. View article...

Equiant Financial Expands into 17,350 SF Equiant Financial Services Inc. has leased 17,350 square feet in Chaparral Business Center VI, located at the northwest corner of Loop 101 and Chaparral Road. The firm is expanding and relocating from its current 16,000-square-foot offices in downtown this summer, according to Cooper Sutherland, finance/development manager for Lincoln Property Co., which developed and manages Chaparral Business Center VI. View article...

Bueno Burger opening in Glendale Bueno Burger is slated to open mid-May at 43rd and Peoria avenues in Glendale, featuring burgers, bratwurst, burritos, barbecue beans and beer. It encourages its customers to "B Generous" with its huge portions and more than two dozen burger toppings, which it calls "Betterments." View article...

Redflex undecided on equipment, potential layoffs in wake of contract loss The state's cancellation of its contract for freeway speed cameras will have some economic impact on Redflex Traffic Systems, though the company does not yet know the extent. View article...

Investment advisers see Mesa as a good bet, boost rating After listening to representatives of two more city departments talk about how they're coping with tighter budgets, the Mesa City Council got a welcome dose of good news Thursday. City Manager Chris Brady said Moody's, a major investment-analysis company, has joined Standard & Poor's in giving the city a AA bond rating. View article...

Arizona DOT awards $6.6M in ARRA contracts The Arizona Department of Transportation awarded nine contracts this week, most of which are being funded by the American Reinvestment and Recovery Act. Though all of the ARRA money has been allocated to projects, there are still contracts to be awarded. View article...

Dozens of Arizona bills signed into law Arizona Gov. Jan Brewer has signed dozens of bills into law over the past few weeks. The bills touch on a wide range of issues - from creating a new lottery game ticket and flying POW/MIA flags in government buildings to abortion reporting requirements and juveniles charged with crimes. View article...

REDEX Rolls Out (I was a consultant on this project and helped with the design) On March 31, CCIM TECH launched CCIMREDEX, an online property listing and marketing database that is poised to revolutionize the way CCIM designees and candidates do business. View article...

Retail Overstock: A Regional Roundup (I am quoted in this article) A variety of CCIMs provided commentary on their local markets for the May/June 2010 cover story, "Retail Returns to the Ring." The following roundup of regional retail markets in the U.S. gives voice to the valuable insights that could not be included in the cover story. View article...

Market Trends: Is Lending Back Lenders are ready to loosen the purse strings, according to Jones Lang LaSalle's 1Q10 survey of 60 of the industry's top loan originators. View article...

Cap Rate Crazy? In today's market, investors, lenders with REO assets, and property owners are trying to maintain as much value as possible in commercial investment property sales. Appraisals are the first step in that process. 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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