Daily News from the desk of Nicholas L Miner, CCIM – May 11, 2009

Daily News from the desk of Nicholas L Miner, CCIM

Here are the news stories you might find interesting today:

Luxury condo, retail project on hold

2 more lanes in works for Grand Avenue

Waterworks Files Bankruptcy
Waterworks, Inc., a retailer of bath and kitchen fixtures, furnishings, and accessories, filed Chapter 11 on May 4, 2009. The company listed $10-50 million in both assets and liabilities in its filing. The company was founded in 1978 and today operates 17 retail stores in AZ, CA, CO, CT, DC, FL, GA, IL, MA, NY and TX; five catalog and commercial sales locations in IL, CA, NY, DC, and CT; and a support center in Danbury, CT. Additionally, Waterworks has five boutique partners with stores in Canada, TN, ID, FL, and AL that were not included in the filing. Waterworks' showrooms vary in size significantly and some of its stores are located on the Country's prime retail high streets.

Boeing moving Gateway facility to Florida

The Boeing Co. said Monday it will move an aircraft repair operation from Phoenix-Mesa Gateway Airport to Florida, which will involve a transfer of about 60 jobs.

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Law Firm Acquires Phoenix Office Bldg.

Finger, Kaplan & Matson PC sold the 1700 Building in Phoenix to the Law Offices of Michael Cordova for $1.63 million, or approximately $150 per square-foot. The single-story, 10,815-square-foot office building at 1700 N. Seventh St. was built in 1981...

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CityNorth blames economy for Nordstrom exit

Officials at CityNorth attribute Nordstrom's pull out at the North Phoenix development to the faltering economy.

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Cold Stone expands partnership with Rocky Mountain Chocolate

A test project between Rocky Mountain Chocolate Factory and Cold Stone Creamery is being expanded to several hundred stores across the country.

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State Land Commissioner resigns

Commissioner Mark Winkelman resigned as the head of the Arizona State Land Department Monday.

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Economy Watch: Coverage summary and resources

The Phoenix Business Journal is focusing on the economy and federal stimulus efforts as Arizona companies work to get past the recession.

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Investors, Developers Divided on Investment Outlook for '09

Commercial real estate investors and developers appear divided as to whether they will increase or reduce their overall investment activity this year compared to last, according to a recent survey by real estate services firm Jones Lang LaSalle. While slightly less than a third (30%) of those surveyed predict a drop of zero to 30% in their investment spending, more than a third (37%) of respondents say their investment activity will increase by 30% over last year. The Chicago-based company, which conducts cross-sector surveys each spring and fall, questioned property owners and representatives of development and professional ...

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Investor Buys 3 Acres in Chandler

Chandler-based SAS Hospitality acquired 3 acres of commercial land at the corner of North Arizona Avenue and West Harrison Street in Chandler, AZ, from a private owner for $1.05 million, or $351,000 per acre. The parcel included the 19,574-square...

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