Daily News for Commercial Real Estate & Business – September 10, 2010

Three Phoenix Multifamily Properties Trade for $3.3M The Colliers International team of Bill Hahn, Jeff Sherman, and Trevor Koskovich recently handled three Phoenix multifamily transactions with a total value of $3.3 million. View article...

Glimcher Buys Out Venture for $120M Glimcher Realty Trust has agreed to buy out its joint-venture partners in the Scottsdale Quarter project for about $120 million. The split with the partners, Wolff Co. and Vanguard City Home, was not explained by the Columbus, OH-based Glimcher. View article...

Valley lands solar inverter manufacturer Power-One Power-One Inc., a solar and wind inverter manufacturer, is the latest renewable energy company to land in Phoenix. View article...

Power-One plans partnerships with ASU, potential $40M investment Power-One Inc. is planning to partner with Arizona State University as part of its Phoenix project, and could invest as much as $40 million in the effort over the next few years. View article...

Harkins theater chain ranks as nation's 10th largest Movie executives like to talk about blockbuster releases but Dan Harkins is more inclined to talk about a film called "What the BLEEP Do We Know!?" View article...

Study: Pros, cons for all Cubs spring training options Two consultants have found the Chicago Cubs will face hurdles trying to land shops and restaurants at any of the new sites the team is considering for a new spring training complex. View article...

Zillow: Phoenix home values down across the board Phoenix home prices are down again: 1.4 percent from June to July, 3.9 percent from the previous quarter and 12 percent in the past year, according to Zillow.com's latest report. View article...

Phoenix housing market lacks supply of homebuyers Few homes are selling. Prices keep dropping. In the metro Phoenix housing market, it's all a simple matter of supply and demand: too many homes for sale and not enough buyers. View article...

Experts blast $42.7 million price Gilbert paid for future parkland In a time of plunging land values and municipal-budget woes, Gilbert last year overpaid by millions of dollars for future parkland, local real-estate experts say. View article...

Billions needed to help Arizona retool economy, community leaders told Arizona - with federal and private help - needs billions of dollars of infrastructure investment in the next few decades to create a sustainable, competitive economy. View article...

Commercial Mortgage Delinquency Rates Diverge Widely By Lender Type The vastly different lending practices by lenders on commercial real estate during the boom years are now manifesting themselves in widening delinquency rates. In the run-up to the market's peak, aggressive conduit lenders, in an effort to gain market share, offered the easiest lending conditions marked by high loan-to-value ratios and generous underwriting assumptions for increasing values and rents. View article...

Companies Brace for Powerful Impact of Lease Accounting Changes Proposed new accounting standards have been drafted in order to push lease liabilities back onto corporate balance sheets. Such a change would represent a major shift for companies that have typically favored the off-balance-sheet treatment of operating leases, and it could have a significant impact on corporate decisions to lease or purchase real estate in the future. 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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