Daily News from the desk of Nicholas L Miner, CCIM – June 8, 2009

Here are the news stories you might find interesting today:

Tempe light rail garage turns into retail, residential center

Plan to renovate Biltmore gets thumbs-up

Sales tax could be 8th-highest if Brewer budget passes

ZIP code changes may hurt small firms

Light rail contributes to Phoenix area's revival

SPECIAL REPORT: REITs Seen to Dominate Real Estate Markets Again as They Did in Early-1990s
New York - REITs will be the dominant players again, much as they were in the 1990s, when the markets move forward in the next few years, predicted speakers at the National Association of Real Estate Investment Trusts' (NAREIT) REITWeek conference held in New York City this week.

Proposed Glendale casino clears first federal hurdle

A proposed American Indian casino in the western suburbs of Phoenix, near University of Phoenix Stadium, has cleared one federal hurdle but faces more before it can be built.

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Frozen yogurt chain expanding in Arizona

Red Mango has signed a multi-unit franchise development agreement with Namara RM-AZ to open 20 nonfat frozen yogurt restaurants in Arizona.

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Four ownership groups show interest in Coyotes, sale could keep NHL team in Glendale

The National Hockey League says there are four ownership groups interested in keeping the Phoenix Coyotes in Glendale.

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Jobless rate hits 9.4% in May; layoffs slow

WASHINGTON -- With companies in no mood to hire, the unemployment rate jumped to 9.4 percent in May, the highest in more than 25 years. But the pace of layoffs eased, with employers cutting 345,000 jobs, the fewest since September.AP graphics: Unemployment figures

Wal-Mart to add stores, 1,300 Arizona jobs

Unemployed growing frustrated with DES

Unemployed men struggle in dating game

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Chandler aims to simplify development approval

Chandler plans to streamline its process for approving new development, and officials say it could help attract new businesses and stimulate the local economy.

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Bath & Body Works, Macayo's at Marketplace

Queen Creek Marketplace, the town's first major shopping center, will add two new stores to its roster, the mall announced

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Salt River tribe to open complex

The Salt River Pima-Maricopa Indian Community will celebrate the grand opening of the new Two Waters administrative complex on Tuesday.

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Job network expands to south East Valley

The nonprofit organization provides training, personal connections, access to resources and support for people in career transition.

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L.A. INVESTORS BUYING 472 APARTMENTS IN MESA FOR ALMOST HALF OF PREVIOUS SALE AMOUNT

Mesa - In a deal set to close at press time, a company formed by Robert Bard and Roger Hill of Select Suites in Los Angeles was expected to pay $21.5 million ($45,550 per unit) to buy the 472-unit Villagio apartments at 1133 W. Baseline Road in Tempe. The seller is a company formed by Capmark Finance Inc. in Horsham, Pa.
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FORMER ENGLE HOMES EXEC STARTS UP NEW HOME BUILDING COMPANY IN VALLEY

Phoenix area - Carl Mulac, a longtime Valley home builder has formed Joseph Carl Homes to build mid-priced residences in the Valley. The newly formed company plans to construct its first subdivision within the Arboleda Ranch community at 29th Street and Baseline Road in Phoenix. Models are expected to be open in July.
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