Daily News – September 8, 2009

I hope you had a GREAT Labor Day Weekend and was able to spend time with your family and friends!

Here are the news stories you might find interesting today:

Future Owners Aren’t Flippers

PHOENIX-Experts tell the buy-and-flip real estate investor of the past is giving way to the savvy real estate expert of the future.

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DPC Re-Enters Market on $10M Buy

SCOTTSDALE, AZ-The Colorado buyer acquires the close to 80,000-square-foot, multi-tenant Mesquite Corporate Center following a close to decade-long absence from the market.

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Jobless rate at 9.7%; 216K jobs lost in Aug.

WASHINGTON — The unemployment rate jumped almost half a point to 9.7 percent in August, the highest since 1983, reflecting a poor job market that will make it hard for the economy to begin a sustained recovery.

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Chandler Walmart gets storewide upgrade

Verna McKay of Chandler stopped by her neighborhood Walmart recently to check out the fresh produce and snag some grand-reopening freebies.

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Sunwest to take over First State Bank in AZ

The Federal Deposit Insurance Corporation (FDIC) has been appointed receiver of Flagstaff-based First State Bank, the Arizona Department of Financial Institutions announced on Friday.

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Baby-themed superstore opens in Chandler

The supermarket-sized buybuy BABY has a wall of diapers with floor-to-ceiling shelves packed full of disposable underwear, stroller options, dozens of potties, clothing, food, toys and furniture.

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Heritage District gets 3 new businesses

Gilbert’s Heritage District is about to get an art gallery, the third new business for the area in a short period of time.

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Blandford Homes finding bargain lots in E.V.

Gilbert-based Blandford Homes went bargain hunting and found a great deal in 135 lots in northeast Mesa that were abandoned by another homebuilder when the new-home market and economy went south.

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Survey: Metro Phoenix No. 11 among top US fall travel destinations

Despite the slowdown in the travel industry, a national survey of key travel agents shows the metro Phoenix area still draws attention.

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Gov. Brewer signs budget with state property sale-leaseback provisions

Budget bills signed Thursday by Arizona Gov. Jan Brewer include provisions that could allow the state to sell buildings and assets including prisons, crime labs, the state fairgrounds and the state Capitol.

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CityScape scores Lucky Strike Lanes and Lounge

Developers of the CityScape project in downtown Phoenix said the high-rise project will feature a 12-lane bowling alley.

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Paradise Valley gets new Costco

Paradise Valley will have a new Costco warehouse store on Sept. 18.

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Labor Day extra: A 10-year look at the labor force in Phoenix and Arizona

The number of jobs in Arizona and the Phoenix metro area in July was up more than 20 percent from 2000, despite taking a dip this year, according to figures from the Arizona Department of Commerce.

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Job contraction expected to continue in 2010

The number of jobs in Arizona is expected to take another hit in 2010, according to a forecast issued in April by the Arizona Department of Commerce.

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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.

Please feel free to contact me regarding these stories, the current market, distressed opportunities or your property.

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