Daily News for Commercial Real Estate & Business – January 7, 2011

Newflower Market Blossoms into 146,623 SF As it opens new stores and demand for its organic products increases, Newflower Market Inc. has expanded its distribution operations at West 10 Business Center. The Boulder, CO-based grocery chain signed a medium-term lease for 146,623-square feet at 4703 West Brill St. in the southwest submarket. The company will occupy the entire class A distribution building, an increase of 35,000 square feet. View article...

CUSHMAN & WAKEFIELD HANDLES $5.5 MILLION HQ/INDUSTR. PURCHASE Cushman & Wakefield has negotiated Coxreels' $5.5 million purchase of an 116,900-square-foot industrial building located at 5865 South Ash Ave. in Tempe. The site will serve as the new headquarters for the nearly 90-year-old family-owned and operated manufacturer of heavy-duty industrial grade hose and cable reels. View article...

Solis developer plans revision to Scottsdale condo project The developer of the Solis Scottsdale hotel and condominiums downtown hopes to close escrow on a land swap this month with Salt River Project that would allow the project to get under way. View article...

Phoenix beer distributor to move business - and 455 employees - to west Mesa Mesa is offering more than $2.8 million in incentives to lure a beer distributor - and its 455 employees - to the city in what is the largest single influx of jobs to the community in years. View article...

Jasper Contractors hiring 300 in Phoenix Baton Rouge-based Jasper Contractors Inc. is hiring 300 Phoenix workers as it expands its construction business to the Valley. View article...

Gannett Fleming acquires Nabar Stanley Brown Phoenix-based engineering firm Nabar Stanley Brown Inc. has been acquired by Harrisburg, Pa.-based Gannett Fleming, an international planning, design and construction management firm. The two companies have been working together on the design and construction of the PHX Sky Train...View article...

Stylish tot shop Little Artika returns to Biltmore Fashion Park In the Valley, it's generally accepted that childhood "stuff" is practical, cutie-patootie and mass-marketed. Toddlers have the same toys from Target, dishes and utensils from Ikea, stroller, crib and high chair from Babies "R" Us and clothing and accessories from Carter's. View article...

Elizabeth Arden Red Door Spa moves to new spot at Biltmore After decades at its former location, east of the outdoor shopping village's grassy park, Elizabeth Arden Red Door Spa has a new location at Biltmore Fashion Park. The famous red door now faces Camelback Road and the mall's premium parking. View article...

Biltmore Fashion Park's 10th restaurant to open in spring Biltmore Fashion Park is known for its one-of-a-kind shopping, restaurants and spa experiences. In the spring, the Biltmore will further cement its status as a dining destination when Black Chile Mexican Grill opens. View article...

10 Arizona jobs trends for 2011 Shedding Christmas-cookie pounds really doesn't compare. Landing a job is really the ultimate New Year's resolution. And 2011 has brought some changes to Arizona's evolving job market, experts say. Job-hunting strategies that worked in 2010 may need a few adjustments. View article...

Trepp: CMBS Delinquencies Hit Record High Despite Market Optimism The delinquency rate for loans held in commercial mortgage-backed securities (CMBS) rose again in December with the percentage of loans 30 or more days delinquent, in foreclosure, or REO climbing 27 basis points to 9.20 percent, according to data released this week by Trepp LLC. View article...

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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