Daily News for Commercial Real Estate & Business – September 16, 2010

To view this weeks "The Watchlist" by Costar, click here.

To view the September 2010 magazine Multifamily Executive, click here.

DEAL OF THE DAY: Hendricks & Partners Oversees $1.7M Sale by Bankruptcy Trustee Hendricks & Partners participated the sale of The Courtyards Apartments, located at 6502 West Olive Avenue in Glendale, Ariz. The 108-unit apartment community was sold for $1,700,000. View article...

Matson Navigation Signs for 23,000 SF at Phoenix Gateway Center Matson Navigation Co., an ocean carrier firm, has signed a 22,808-square-foot lease at the Phoenix Gateway Center One at 426 N 44th St. The long-term lease is valued at about $3 million. View article...

What's being built near 40th Street and the 202? The Southwest Orthopedic and Spine Hospital. The central site located at the very heart of the Discovery Triangle is what attracted the group to the location as well as the ease of access. 37 doctors from around the Valley will call the 71,000 square-foot, 44 private in-patient room facility home. View article...

Bike Force Couriers Opens Downtown Bike Force Couriers has opened a Downtown office in the ground floor of the Heard Building at 112 N. Central Avenue. Bringing a new approach to urban messenger options, Bike Force offers speedy, affordable & eco-friendly bicycle courier service to Phoenix's business corridor. View article...

Iqor hiring for new Tempe call center IQor Inc. is hiring again in Arizona following a move to a new 50,000-square-foot call center in Tempe. View article...

CMBS Industry Welcomes Landmark Court Decision A court decision in Arizona may provide a blueprint for special servicers across the nation as they seek to recover the value of defaulted loans rolled into commercial mortgage-backed securities (CMBS). View article...

Home prices flat nationally, down in Arizona Home prices across the country were flat in July but not in Arizona, where values continue to decline. View article...

Phoenix, Vegas share bottom rungs in Brookings Institution report Phoenix experienced slight growth in second quarter, while the unemployment rate moved little and housing prices dropped further, according to a report released today by the Brookings Institution. View article...

Market Trends Briefly Noted Hospitality - Hampered by lack of construction financing, new hotel supply is projected at 1.7 percent for 2010 and 1.3 percent annually for 2011 and 2012, according to Lodging Econometrics. View article...

Regional Outlook West One of Honolulu's largest office complexes, the two-tower Bishop Square sold for $247 psf, according to James M. Brown, CCIM, SIOR, president of Hawaii Commercial Real Estate. Douglas Emmett Inc., a California-based REIT, purchased the property for $230 million in a bid to control the CBD submarket, Brown says. DEI owns about one-third of Honolulu's class A office stock. View article...

CRE Loans Performing Better (Monday's News & Notes) Remember all the talk about commercial real estate being the next shoe to drop? Based on recent statistics, that fear might have been overblown. The CoStar Group reports that delinquencies on commercial real estate loans started to subside in the second quarter of 2010 and are expected to fall further by the end of the year. 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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