Commercial Real Estate & Business News – March 21, 2014

The Federal Reserve’s annual stress tests found 29 of the 30 largest U.S. banks could withstand a deep recession and still pay dividends, fueling speculation about which firms will win approval next week to raise payouts. Zions Bancorporation is the only lender that came in below one of the Fed’s main capital thresholds in results released today by the central bank that simulated a severe economic slump… Read more
Groundbreaking day has arrived for the first phase of Airport I-10, a Wentworth Property Company/Clarion Partners Class A industrial project being leased by the Phoenix office of JLL that, at completion, will represent one of the largest Sky Harbor Airport-area speculative industrial developments in Phoenix history… Read more
A breath of new life has been given to the proposed revitalization of the Scottsdale Cottonwoods Resort & Suites, Paradise Valley officials say. Paradise Valley Town Council is expected to begin its own deliberations of the new Cottonwoods plan Thursday, April 24 at Town Hall, 6401 E. Lincoln Drive… Read more
Phoenix-based Fox Restaurant Concepts is hosting a job fair over the next few weeks to recruit workers for its newest Zinburger location. Fox will open Zinburger at the Scottsdale Quarter this spring and wants to hire 100 people to staff the new restaurant… Read more
A northwest Phoenix area is ready to move to its next chapter after a two-decade slide into blight. The City Council on March 19 unanimously approved the North Mountain Redevelopment Area plan, which will shape a 2,500-acre site over a decade. The plan outlines a set of goals and strategies for land uses, upgraded infrastructure and public transportation to the area, roughly 10 miles northwest of downtown Phoenix…Read more