Here are the news stories you might find interesting today:
Valley’s commercial real-estate crisis to worsen
The Valley’s commercial real-estate crisis isn’t just about buildings, it’s about everything and everyone inside. The impact isn’t as easy to see as the fallout from the home-mortgage mess, with its sea of empty homes and for-sale signs, but it’s likely to become more noticeable to Valley consumers as the commercial crisis worsens this year, predicts Scottsdale consultant Robert Kline
Case-Shiller Index: Phoenix home prices rise
| Annual home price declines in Phoenix continue to be among the worst in the nation, but home prices rose 1.1 percent in the second quarter. |
CB Richard Ellis restructures debt
| CB Richard Ellis Group Inc. has reached an agreement to restructure $994 million in debt. (CBG) |
Balsillie: Still time for Coyotes move to Canada for 2009-10 season
| Canadian billionaire Jim Balsillie reiterated his desire to buy the Phoenix Coyotes hockey team and move it to Hamilton, Ontario, this season, in a recent U.S. Bankruptcy Court filing. |
NHL makes its own bid for Phoenix Coyotes
| The National Hockey League has submitted its own bid to buy the Phoenix Coyotes as the league tries to keep the hockey team in Arizona. |
1,183-Unit Portfolio in Trouble
| PEORIA, AZ-KeyBank Holdings initiates foreclosure against four class A complexes, totaling 1,183 units, belonging to Gray Development. |
Business bankruptcies up 64%
| More than 30,000 businesses filed for bankruptcy protection in the first half of 2009, a 64 percent increase from the same period a year earlier. |
Biomedical building earns gold LEED
| Arizona Biomedical Collaborative No. 1 has received a gold certification from the U.S. Green Building Council’s Leadership in Energy and Environmental Design program. |
Sonoma Bank closing doors Friday
| Sonoma Bank has ceased lending and will close its doors Aug. 28, ending a nearly 17-year run in the Phoenix market. |
Each day I sort through various industry publications and local news sources and narrow down the top local articles that matter to commercial real estate owners and business owners.
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