Daily News – September 11, 2009

As we remember the events of September 11th, let us not forget those that were lost in this tragedy.

Here are the news stories you might find interesting today:

Business named in free rent contest

New hotel-casino opens next month

Former Mortgages Ltd. HQ Undergoes Change

PHOENIX-Grubb & Ellis now has the leasing assignment for the 102,134-square-foot complex that once housed the beleaguered lender.

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Alltel Ice Den gets new restaurants

Alltel Ice Den is getting two new restaurants this month with the opening of 18 degrees Neighborhood Grill and Over Easy.

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Arizona drops from 3 to 4 in foreclosure ranking

Arizona fell a notch to rank fourth in foreclosure activity among states in August, according to RealtyTrac.

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Recovery coming, but not quickly, say SRP Economic Forecast speakers

The Arizona economy won’t see job gains or stable home prices until 2011 as consumer woes and more foreclosures — stemming from adjustable and interest-only mortgages slated to reset — dog recovery hopes.

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Pulse Fitness opening in Scottsdale

Pulse Fitness will celebrate its grand opening Saturday at DC Ranch Crossings on Pima Road in North Scottsdale.

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Capitol Bancorp consolidating bank holdings

Capitol Bancorp Ltd. is implementing more consolidations to shore up capital levels and its balance sheet. (CBC)

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Mesa throws Waveyard developer a lifeline

Mesa’s long-awaited Waveyard water park project has been thrown a lifeline. City Council members and City Manager Chris Brady decided Thursday morning at a study session to grant the developer of the $250 million attraction an 18-month extension to begin building the project.

Interactive: Planned Waveyard development

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Postal Service Whittles List of Possible Closures from Thousands to Hundreds
Still a month away from any final decisions on post office consolidations, the U.S. Postal Service this past week said it has trimmed the list of possible locations for closure from thousands down to 413 retail stations

CRE Sales Will Pick Up Next Year, But Values Expected to Stay Flat Through ’12
Credit markets for office, industrial, retail, hotel and multifamily property should see the effects of a gradual return of liquidity during the second half of 2009, Jones Lang LaSalle predicted in its U.S. Midyear Capital Markets Bulletin released last week.

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.

Feel free to contact me regarding any of these stories, the current market, distressed commercial real estate opportunities or your property.

Lastly, please let me know if there is someone you know that could benefit from receiving my daily news.