Daily News for Commercial Real Estate & Business – September 8, 2010

COLLIERS INTL. BROKERS $1.55 MILLION MULTIFAMILY ACQUISITION The 66-unit Desert Crest, a multifamily property located at 6141 North 59th Ave. in Glendale, has sold for approximately $1.551 million. Built in 1985, Desert Crest consists of 54,720 square feet on about 2.46 acres. View article...

Commerce Bank of Arizona taps John Lewis to lead Phoenix expansion John Lewis, former chairman, president and CEO of Sunrise Bank of Arizona, has been tapped as executive vice president of Commerce Bank of Arizona to handle the Tucson firm's expansion plans in the Phoenix area. View article...

American Solar, Calex team on new solar subdivision American Solar Electric and Calex Homes Inc. are partnering on a new solar power subdivision in Chandler. View article...

Phoenix employers predict upswing in hiring Phoenix-area employers say they will be stepping up hiring in the fourth quarter. View article...

Peoria hopes Old Town upgrade will prompt university site Peoria Councilman Dave Pearson is concerned that a city proposal to spend millions of dollars to make over Old Town's commercial center could hit legal trouble with the state's gift clause if a university fails to locate in the heart of the city. View article...

Mounting confidence could mean more jobs The Arizona economy since December 2007 has been an ugly sight, with about 267,000 jobs lost. View article...

David Lynn: More Troubles Ahead for the Housing Market The downturn in the U.S. housing market was a critical cause of the Great Recession in 2008 and 2009. Housing has helped to lead the economy out of other recent recessions, but we believe that the larger economy must stabilize before we experience a sustained recovery in the housing market this time around. View article...

Hotels Poised to Shed Properties With the U.S. hotel market recovering, some of the country's largest hotel companies are poised to resume their efforts to divest themselves of real estate. View article...

Shameless plug for my wife and son: Can you become a fan of Krista Campbell photography on Facebook for them? The link below should take you to their photo that was submitted. Each "like" is considered a vote. They can win the "Mommy & Me Photo Contest" and receive a free photo session, 1- 8×10, 2 5x7s and one set of wallets and 5 web-sized digital images to share online with family/friends. To get votes, have your family/friends become a fan of Krista Campbell Photography and then "like" their picture. Here is the link to Tiffany & Jacob's photo we entered: http://www.facebook.com/photo.php?pid=281233&id=112863485413699&ref=fbx_album Thanks in advance!

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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