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Commercial Real Estate & Business News – February 26, 2013

Here are the news articles you might find interesting today for commercial real estate and business:

2013 ULI Trends Day Arizona Recap – Part 5 – Keynote – John C Cushman, III Following the Sports Panel was the lunch keynote speaker, John C Cushman, III. He was able to discuss a more global picture of what is happening. Here are a few of the bullet points: The Global Economy is still facing a lot of economic headwinds over the next few years View article…

2013 ULI Trends Day Arizona Recap – Part 6 – Land Panel Following the keynote speaker was the Land Panel. Key characters from this group were: Ed Hanley, William Lyon Homes; Ryan Huffman, Mattamy Homes, Michael llesCremiuex, Meritage Homes; David Viger, Richmond American Homes; moderated by Nate Nathan, Nathan & Assocates. I did not have a lot of notes from this panel because of the focus being on residential new home construction. View article…

New Western museum could be coming to Scottsdale Scottsdale City Council members are being asked to write a check for $14 million to build a Western art and history museum in the downtown arts district. Ned O’Hearn, with the nonprofit Scottsdale Museum of the West, said if the city commits then his group will gather private donations to cover design and annual operating costs. View article…

Market Trend: Phoenix’s Industrial Deliveries and Construction During the fourth quarter 2012, two buildings totaling 1,408,075 square feet were completed in the Phoenix Industrial market area. This compares to one building totaling 80,000 square feet that were completed in the third quarter 2012. There were 5,725,404 square feet of Industrial space under construction at the end of the fourth quarter 2012. View article…

Second Arizona Twin Peaks opens in Phoenix The latest “breastaurant” in the Phoenix market opened today as Twin Peaks unveiled its second Arizona location at 2135 E. Camelback Road. Addison, Texas-based Twin Peaks is in the midst of a nationwide expansion, which calls for four restaurants in Arizona. View article…

Arizona congressman Ron Barber fighting Postal Service bid to move Tucson mail processing to Phoenix U.S. Rep. Ron Barber, D-Ariz., is upset with a U.S. Postal Service decision to stop processing outgoing mail in Tucson and instead have those letters and packages trucked up to Phoenix. Barber has written Postmaster General Patrick Donahoe complaining about the USPS decision. View article…

Barnes & Noble Chairman to Bid for Website, Retail Stores Barnes & Noble (BKS) Chairman Leonard Riggio revealed plans Monday to buy the bookseller’s retail assets, including its 700 stores and website, in a move that would separate the traditional book business from its digital Nook arm. The announcement, which comes as big-box retailers struggle to keep pace with fast-growing online retailers that have fewer overhead costs, sent shares of Barnes & Noble up more than 9% early Monday to $14.74. View article…

Tempe cracking down on aggressive panhandlers Panhandlers bothering people outside of convenience stores, malls, supermarkets are a growing problem across the Valley. Many of them are truly in need, but others are far more aggressive and Tempe is putting teeth into its ordinance to prevent the aggressive ones from hassling people. Nikki Ripley with the City of Tempe said panhandlers could spend six months in jail and pay a $2,500 fine if they’re caught breaking the law, the highest level of misdemeanor offenses. View article…

Economist: Sequester won’t put Arizona into recession he White House said Arizona’s defense industry and education system will take about $80 million in cuts but Jim Rounds with Elliott D. Pollack and Company said Arizona can take that hit. At least 10,000 civilian Department of Defense workers will be furloughed. More than 300 teachers could lose their jobs. “We’re going to add 60,000 to 70,000 new jobs this year in Arizona so if we lose 10,000 to 15,000 from sequestration we’re still going to have decent growth,” Rounds said. View article…

Scottsdale hotels have strong showing in January Scottsdale’s tourism industry saw improvement in January 2013 over last year, according to new data from STR. Occupancy in Scottsdale/Paradise Valley hotels was 70.8 percent in January, up 7.8 percent from January 2012, STR said. The area’s average daily rate (ADR) increased to $182.70, up 2.5 percent from last year, and revenue per available room was up 10.5 percent to $129.33. View article…

Beer is a $1 billion business in Arizona Arizona’s beer distributors have an annual economic impact of more than $1.1 billion, according to a new report from the National Beer Wholesalers Association. Among the states, Arizona tied for 14th with Missouri for its economic impact. Arizona’s beer distributors directly employ 2,881 and have an impact on an additional 7,284 jobs, the report said. View article…

Seniors Operators Expand Entertainment Offerings The days when bingo was the most fulfilling activity at a seniors housing facility are over. As the industry prepares for the expected explosion of demand in a decade or so, another area where the baby boomers define themselves will be in what they want offered at seniors housing in terms of activities and entertainment. Some believe the World War II generation was more amenable to relax in retirement, while it’s also possible that shuffleboard and bingo were the best ideas available to 1970s-era developers. Most properties today still don’t offer more “to do” items than the average city-run senior center. View article…