Daily News from the desk of Nicholas L Miner, CCIM – June 22m 2009

Here are the news stories you might find interesting today:

MID-AMERICA ADDS TO MULTI-FAMILY HOLDINGS . . . SPENDS $17.5 MILLION FOR 232 UNITS
Gilbert - A company formed by Mid-America Apartment Communities Inc. in Memphis, Tenn. (NYSE:MAA, Eric Bolton, chairman) paid $17.5 million ($75,431 per unit) to buy the 232-unit Skyview Ranch apartments at 4632 E. Germann Road in Gilbert. The seller was a company formed by Fairfield Residential Inc. in San Diego (Chris Hashioka, pres.).

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OPUS DEALING WITH ANOTHER VALLEY FORECLOSURE . . . BANKRUPTCY STILL LOOMING
Chandler - A company formed by principals of The Opus Group in Minneapolis, Minn. is in jeopardy of losing a Chandler office property to foreclosure. According to Ion Data, a Mesa-based provider of real estate data, Craig Williams of the Phoenix law firm Snell & Wilmer is the trustee on the pending foreclosure. The trustee's sale is slated for September 8.

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Fry's Marketplace to open in Surprise

Phoenix proposes 2% hike in primary property tax

$4 million HUD grant helps senior facility expand

Lien hits resort developer, villa owners

Anchor Blue to close all Phoenix-area stores

Anchor Blue is closing three stores across Arizona, including two in metro Phoenix, as part of a larger closure of underperforming stores.

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Arizona construction employment down most in US

Arizona led all states for decreasing employment in the construction sector during the past year, according to the Associated General Contractors of America's monthly Data Digest report.

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Diamondbacks, Rockies leaving Tucson, will move spring training to Valley in 2011

The Arizona Diamondbacks said Friday that next year's Cactus League season will be their last in Tucson.

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Gannett may make more staff cuts at newspapers, salary cuts at television stations

Gannett Co. Inc. - the parent company of the Arizona Republic and USA Today newspapers and Phoenix NBC affliliate KPNX Channel 12 - could be laying off more newspaper workers and cutting broadcaster salaries. (GCI)

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Landlords Finding New Uses for Big Box

TUCSON, AZ-As the pool of big box retailers continues to shrink, retail owners are finding different and creative uses for the empty space.

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