Daily News from the desk of Nicholas L Miner, CCIM – July 14, 2009

Here are the news stories you might find interesting today:

At the bottom of the email is a link to download the July 2009 Banking Industry Update & The Bank Vault from DA Davidson. Looks like the banks are losing some momentum according to the reports.

Struggling retailers pursue rent relief

Sandella's Flatbread comes to Chandler

Forecast for hotel sector slips further

Smith Travel Research is downgrading its forecast for the U.S. hotel sector.

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Governor signs more solar bills

Two more bills to push demand for solar and renewable energy in Arizona were signed by Gov. Jan Brewer over the weekend.

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Nonresidential construction expected to lag in 2010

A survey of national construction forecasters showed commercial construction is projected to drop significantly through 2010.

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Bashas': Chapter 11 to create 'stronger, leaner' company

Citing a recession that has hit Arizona hard, senior leaders at Bashas' Inc. said they filed for Chapter 11 bankruptcy reorganization so that the 77-year-old grocery chain can emerge as a stronger, leaner company.

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Summit at Copper Square hit with foreclosure notice

The Summit at Copper Square condominium project across from Chase Field in downtown Phoenix is scheduled for an Oct. 14 foreclosure sale.

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Brewer signs retail theft measure

Arizona Gov. Jan Brewer signed a measure Monday that makes organized retail theft a Class 4 felony. Under the measure, those convicted of the crime can face up to 2.5 years in prison.

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Gilbert IHOP Sells for $2.4M

Triad Commercial Properties sold the IHOP at 920 S. Gilbert Road in Gilbert, AZ, to a private investor for $2.38 million, or about $475 per square-foot. The 5,000-square-foot restaurant was completed in 2002 in the Chandler submarket. The property...

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TEMPE SPECIFIC:

PLAN CHECK SUBMITTALS

06/05/09 - TENANT IMPROVEMENT at 1140 S. Priest Dr. for Brookline College Declared Valuation: $250,000 Plan Check No.: PC09-0431

06/10/09 - ADDITION/ALTERATION at 1610 S. Priest Dr. for Ellison Machinery Declared Valuation: $442,900 Plan Check No.: PC09-0446

06/12/09 - TENANT IMPROVEMENT at 1255 W. Rio Salado Pkwy. for Riverside Spec Suite Declared Valuation: $420,000 Plan Check No.: PC09-0452

06/23/09 - NEW STORE & FUEL FACILITY at 5240 S. Rural Rd. for Circle K Declared Valuation: $400,000 Plan Check No.: PC09-0479

06/26/09 - TENANT IMPROVEMENT at 1050 W. Washington St., Ste 214, for Sunstate Builders Declared Valuation: $300,000 Plan Check No.: PC09-0497

PERMITS ISSUED

06/02/09 - ADDITION/ALTERATION at 2720 S. Hardy Dr. for Infincom Declared Valuation: $300,000 Plan Check No.: PC09-0281

06/05/09 - NEW BUILDING at 600 E. Gilbert Dr. for Wilson Electric Declared Valuation: $859,100 Plan Check No.: PC09-0081

06/05/09 - ADDITION/ALTERATION at 1310 W. Drivers Way for Supplemental Nutrition Tech Declared Valuation: $200,000 Plan Check No.: PC09-0167

06/05/09 - TENANT IMPROVEMENT at 1255 W. Washington St. 1st Flr, for Sonora Quest Laboratories Declared Valuation: $361,500 Plan Check No.: PC09-0329

06/12/09 - ADDITION/ALTERATION at 3225 S. Hardy Dr. for Pinnacle Education Declared Valuation: $310,000 Plan Check No.: PC09-0316

06/17/09 - TENANT IMPROVEMENT at 1131 W. Warner Rd., Ste 107, for Broadcom Corporation Declared Valuation: $310,000 Plan Check No.: PC08-1205

06/17/09 - ADDITION/ALTERATION at 8350 S. River Pkwy for Walgreens Mail Order Facility Declared Valuation: $2,700,000 Plan Check No.: PC09-0273

06/18/09 - ADDITION/ALTERATION at 1430 E. Baseline Rd. for Accel, Inc. Declared Valuation: $480,000 Plan Check No.: PC09-0227

06/24/09 - TENANT IMPROVEMENT at 1255 W. Washington St., 2nd Flr, for Sonora Quest Laboratories Declared Valuation: $300,500 Plan Check No.: PC09-0384

06/25/09 - NEW BUILDING & ADDITION at 9002 S. Hardy Dr. for United Rentals Shop Declared Valuation: $216,500 Plan Check No.: PC08-0988

06/26/09 - ADDITION/ALTERATION at 1330 E. Dava Dr. for Kyrene Elementary School District Declared Valuation: $2,604,900 Plan Check No.: PC08-0840

06/26/09 - NEW BUILDING at 1406 W. University Dr. for Robo Wash Declared Valuation: $725,000 Plan Check No.: PC09-0214

PERMITS FINALLED

06/05/09 - ADDITION/ALTERATION at 5705 S. Kyrene Rd. for Southwest Gas Tempe Solar Declared Valuation: $250,000 Plan Check No.: PC08-1076

06/18/09 - ADDITION/ALTERATION at 1835 E. Guadalupe Rd. for Fry's Food & Drug Declared Valuation: $500,000 Plan Check No.: PC08-0997

06/29/09 - TENANT IMPROVEMENT at 2900 S. Diablo Way for Motorola Phoenix, Bldg A. Declared Valuation: $500,000 Plan Check No.: PC08-0133

06/30/09 - TENANT IMPROVEMENT at 2900 S. Diablo Way, Ste 101, for Motorola Phase III Declared Valuation: $750,000 Plan Check No.: PC08-0285

For a FREE market evaluation of your property, contact me immediately!

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