Daily News for Commercial Real Estate & Business – October 13, 2010

Neace Lukens acquires Phoenix Horton office Neace Lukens, a Louisville insurance broker, is expanding its presence in Arizona with the acquisition of the Phoenix office of The Horton Group. View article...

Charles Schwab Acquires Nine-Acre Site at Phoenix Charles Schwab Corp., a financial services firm, is acquiring a nine-acre site at Phoenix for $2.06 million. The transaction is anticipated to be complete in the spring, and the firm will develop a surface parking on the site by Q3 2011 to assist the employee growth at its Peak campus situated near Lincoln Drive and 24th Street. View article...

Charles Schwab deal may bring 600 jobs to Arizona Phoenix and Charles Schwab & Co. Inc. were expected to announce a deal this morning that would allow the financial-services firm to expand its campus and add 200 Arizona jobs by the end of this year and up to 400 new jobs in the next five years. View article...

Nike latest to open store at Scottsdale Quarter Nike kicks off a new round of store openings Wednesday at the Scottsdale Quarter. A work in progress, the 28-acre Quarter has rolled out nearly a dozen shops and restaurants during the past 19 months. Nike's two-story, 20,000-square-foot store is the first in the market, other than two outlet locations. View article...

Queen Creek takes a hit for anchorless Village Center, Crossroads Queen Creek Marketplace and Queen Creek Village Center shopping centers are less than a mile apart, but they convey two different perceptions of the town's retail scene. Although the popular 1.3 million-square-foot Marketplace enjoyed a burst of leasing activity this summer with Olive Garden, Rue21 and J.C. Penney soon opening for business, the 52,217-square-foot Village Center's occupants have fled nearly as fast. View article...

Scottsdale's Soleri Bridge project becoming a reality The Soleri Bridge and Plaza, designed by internationally known visionary and artist Paolo Soleri, is in the final stages of construction in downtown Scottsdale after existing as a dream for 20 years. View article...

USA Basketball cancels plans to build headquarters in Glendale USA Basketball, the Olympic training organization, has canceled plans to build its headquarters in Glendale, at least as originally planned. The group says the developer missed too many deadlines. View article...

Coolidge looks to annex Mesa-owned land More than 6 square miles of Mesa's Pinal County land would become part of Coolidge under a proposed annexation. The proposal is no big surprise to Mesa, said Natalie Lewis, an assistant to the city manager who has been involved in the discussions. View article...

Mesa forcing Fiesta Village to clean up its image Mesa's Fiesta Village once was active day and night, attracting shoppers with a Bobby McGee's nightclub, movie theaters, shops and restaurants. Today, it's encircled by a barbed-wire fence. View article...

Sempra Generation to build 150-MW solar plant Sempra Generation is planning to build a 150-megawatt power plant west of Phoenix and sell the power to Pacfic Gas & Electric Co. The photovoltaic project, Mesquite Solar I, will be built in Arlington, about 40 miles west of Phoenix, according to Tuesday's announcement. View article...

Two Indexes, Two Views on Commercial Real Estate Trying to determine turning points in the real-estate market has never been simple. But now that two influential research firms are pushing very different views of the market, some investors are scratching their heads. View article...

Economists Say Home Prices Have Already Hit Bottom Home prices in the United States found their floor during the early part of 2010 and are expected to begin trending upward next year, according to a panel of elite economists surveyed by the National Association for Business Economics (NABE) for its October 2010 Outlook. 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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