Daily News for Commercial Real Estate & Business – September 30, 2010

To view this weeks "The Watchlist" by Costar, click here. I am quoted on page 10!

Summit Equity pays $27M for 672-unit Autumn Ridge Summit Equity Investments Inc., a Los Angeles real estate firm, paid $27 million for the 672-unit Autumn Ridge apartment complex at 1944 Thunderbird Road in Phoenix. View article...

Johnson Bank closing 4 Arizona branches Johnson Bank is closing four offices in Arizona, part of its plan to "maintain the health of the business in the midst of depressed economic conditions." View article...

Gaines Pays $30M for 1,347-Unit MF Portfolio Gaines Investment Trust has entered the Tucson apartment market with the purchase of five foreclosed multifamily communities. The La Jolla, CA-based buyer paid $30 million for the class B portfolio, which consists of 1,347 units. View article...

Jack in the Box closures bypass Phoenix Fast food chain Jack in the Box Inc. said today it will close 40 restaurants nationwide by Sunday. View article...

Retail Watch: Blockbuster Files Chapter 11; Immediately Closes 145 Stores Blockbuster Inc., a Dallas-based global provider of rental and retail movie and game entertainment through 3,306 stores in the U.S., filed voluntary Chapter 11 petitions with the U.S. Bankruptcy Court for the Southern District of New York. And store closings have already started. View article...

Tribal casino revenue takes a tumble By the numbers: FY 2009* -- $1,687,785,462 / FY 2008 -- $1,982,018,281 / FY 2007 -- $1,944,111,864 / FY 2006 -- $1,790,475,504 / FY 2005 -- $1,536,014,082 / FY 2004 -- $1,349,801,856 / View article...

Arizona millionaires on the rebound While the number of millionaire households in Arizona is making a rebound, its ranking among states has inched down over the past five years. View article...

Phoenix among 35 labor markets on the rebound Thirty-five of the nation's 100 biggest metropolitan areas -- including Phoenix -- are on the rebound, according to a report issued Wednesday morning by the U.S. Bureau of Labor Statistics. View article...

How Phoenix home values fare today vs. pre-boom prices It's no secret Phoenix home values have tanked since their peak in 2006, but how do they hold up compared with 2003, when the run-up began? View article...

Delinquency Rate Continues to Climb The delinquency rate for commercial-mortgage-backed securities advanced over 9% for the first time in a sign the weak economy is continuing to take a toll on commercial-property owners. According to the Trepp National CMBS Delinquency Report, 9.05% of about $694 billion in commercial mortgages that back outstanding CMBS were 30 days or more delinquent as of Tuesday. 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.

Speak Your Mind

*

CommentLuv badge

footer script.