Daily News for Commercial Real Estate & Business – November 9, 2010

I am the Chair of Newtown CDC. We are having our first annual "Affordable Fundraiser for Affordable Housing" on Sunday, November 14, 2010 from 11:30AM to 2:30PM. The mission of Newtown is to help increase the supply of permanently affordable housing while developing and supporting homebuyers through innovative programs and partnerships. If you do not have any plans, please make it a point to show up! You can click here to sign up! If you are interested in being a sponsor, let me know!

Now, for the news!

Click here for the November 2010 edition of CORFAC NEWS - LOCALLY - GLOBALLY.

CASSIDY TURLEY BRE COMMERCIAL HANDLES PHOENIX OFFICE SALE Cassidy Turley BRE Commercial has completed the $1.6 million acquisition of a 17,524-square-foot office building located at 222 N. 44th Street in Phoenix. View article...

Phoenix-Mesa Gateway Airport experiencing growing pains After years of being one of Phoenix-Mesa Gateway Airport's biggest cheerleaders, Mesa Mayor Scott Smith had the opportunity to actually use it for the first time recently. He was not amused. View article...

New Wigwam restaurant to put Valley organic fare at forefront The restaurant plan is taking shape at the Wigwam Golf Resort and Spa, the 81-year-old West Valley landmark bought out of bankruptcy by Jerry Colangelo and two partners last December. The Litchfield Park property is undergoing a $7 million renovation. View article...

Job report: 151K added across US in October; 17 percent jobless or underemployed The U.S. economy added 151,000 jobs in October, but the national unemployment rate remains at 9.6 percent. The October job gains represent the best performance since May. The mining, health care and hospitality sectors added jobs last month. View article...

Hotel Distress Helps Stoke Transaction Activity The return of the hotel transaction market has taken longer than expected, but a splash of high-profile acquisitions and a potential wave of distressed assets coming to market have many believing the dam is about to burst. View article...

If You Blink, You Might Miss the Retail Turnaround The performance of the retail sector in the third quarter was surprisingly stable. The national vacancy rate for neighborhood and community centers held steady at 10.9%, according to Reis, and about 300,000 sq. ft. of positive net absorption was recorded. This is the first time in over two years that occupied space posted an improvement. 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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