Daily News for Commercial Real Estate & Business – November 19, 2010

Update from CCIM Refocus Conference Part Duex These are my notes from the Orlando conference which covered the Financing Panel and Economists. To see my notes, click here.

HTA CLOSES $73.55 MILLION IN NEW ACQUISITIONS Scottsdale-based Healthcare Trust of America (HTA) continues its busy year of acquisitions with the closing of two new medical office purchases. The REIT has closed on part of a five-building portfolio and another single-property deal in a new market. View article...

Planned resort's developer to ask Mesa for extension The developer of the $800 million Gaylord resort will ask Mesa to extend its deadline for starting construction next year, Mayor Scott Smith said. Gaylord Entertainment has indicated it isn't able to build anything by late 2011, Smith said, but that it still wants to open a resort in east Mesa. View article...

New country-Western club to open in east Mesa Valley developer Michael Pollack says, "it has been a long time coming," but at last a nightclub will open in Sun Valley Plaza on Main Street just east of Power Road. Mesa-based Pollack Investments and Graham Brothers Entertainment, owners of Tempe's Graham Central Station and 14 other clubs in Arizona and around the country, Friday will open Denim & Diamonds, a country and Western club at the site where another developer sought to open a Hurricane Bay nightclub. View article...

Postino restaurant opening Gilbert location A third location of Craig DeMarco's wildly popular Postino restaurant and wine bar will open in summer 2011. This one will be in Gilbert. "I love the character of the neighborhood," DeMarco said. "I've been scouring the East Valley" looking for a location. The restaurant is expected to open in downtown Gilbert just north of the Liberty Building. View article...

Land broker sees Valley population doubling by 2045 Greg Vogel sees Valley growth over the next 35 years leaping to roughly 8 million people from 4 million. Metro Phoenix will double down if his forecast plays out. It's rather startling when you see it plotted on a large digital map at Vogel's Scottsdale office of the Land Advisors Organization. View article...

ASU president's vision for 2010 includes new Sun Devil Stadium Arizona State University President Michael Crow predicted Thursday that construction will begin within 10 years on a new Sun Devil Stadium and a 300-acre athletic complex stretching from Tempe Marketplace to the city center. View article...

Construction costs decline in Phoenix Construction costs in Phoenix continue to decline, even as slight inflationary pressures have increased construction costs in markets including Denver, Los Angeles, New York, San Francisco and Washington. View article...

Hispanic buying power hits $34B in Arizona Business leaders and members of the Hispanic community gathered Wednesday morning at the Sheraton Phoenix Downtown Hotel for the 15th annual DATOS breakfast hosted by the Arizona Hispanic Chamber of Commerce. View article...

Manufacturers optimistic about economy A majority of manufacturers are optimistic about an economic uptick in 2011, according to a survey conducted by the American Society for Quality. View article...

RL Brown: No silver lining in down housing numbers Phoenix housing consultant RL Brown Reports issued its November Phoenix Housing Market Letter with little holiday cheer. "No matter how hard we tried, we found little silver in the lining in the cloud over housing in the nation or in metro Phoenix this past month," the report stated. 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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