Daily News for Commercial Real Estate & Business – September 20, 2010

CAMELBACK ROAD OFFICE PROJECT SECURED BY $73.83 MILLION LOAN TARGETED FOR FORECLOSURE Phoenix - An office project located at the southeast corner of Camelback Road and 22nd Street in Phoenix is in jeopardy of being foreclosed. The two-building complex, called Anchor Centre, is collateral on an original loan amount of $73.83 million that is in default. View article...

768-UNIT APARTMENT COMPLEX IN SOUTHEAST PHOENIX NOTICED FOR TRUSTEE's SALE Phoenix - The 768-unit Peaks at Papago Park apartments located at 815 N. 52nd Street in Phoenix is scheduled to be sold at a trustee's sale on December 9. View article...

Gideon's Coffee Upon walking into Gideon's Coffee, Downtown Phoenix's newest coffee bar located on the corner of Jackson Street and Second Avenue, it doesn't take long to pick up on a theme. View article...

Lone Star closes two restaurants The closures of two Phoenix Lone Star Steakhouse restaurants are part of a nationwide closure of 19 of the eateries. View article...

E.V. sees openings of new communities Metropolitan Phoenix's beleaguered real estate market is seeing hopeful signs - grand openings for new communities. View article...

6 Banks Closed on Sept. 17 Federal and state banking regulators closed six banks on Friday, Sept. 17 These failures raise the total number of failed institutions to 140 so far in 2010. View article...

Economic Conditions Snapshot, September 2010: McKinsey Global Survey results Two years after the collapse of Lehman Brothers, 51 percent of executives who responded to our most recent survey say the world economy is in recovery; 58 percent say so about their own countries.1 Most expect corporate profits to rise this year from their level in 2009, and 38 percent expect to hire by the end of the year - the greatest share expecting to hire in the near term since before the crisis. 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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