Here are the news stories you might find interesting today:
REIS’ Victor Calanog Offers Insights on the Office Market
|Listen to Victor Calanog, REIS director of research, discuss various factors that will contribute to the office market’s recovery. For more on the office market, read Commercial Investment Real Estate‘s September/October 2009 cover story, “Office Market Overtime.”|
Survey: Diners continue to tighten belts
|The economic downturn may be easing a bit, but that doesn’t mean Americans will rush back to their spending ways, especially when it comes to eating out, a new survey finds.|
Orders against financial institutions up, pointing to more bank failures
|Federal financial regulators issued 49 percent more orders against financial institutions during the second quarter of 2009 compared to the first, according to a study by MortgageDaily.com.|
Bluegreen Corp. takes over Cibola Vista management
|A Florida hospitality company will take over management of the Cibola Vista Resort and Spa in Peoria beginning next month. (BXG)|
35,000SF Scottsdale building sells for $5.4M
|Commercial real estate deals closed in the last week included the $5.4 million sale of a 35,000-square-foot warehouse and office building in Scottsdale.|
Apollo leasing 440,000SF at Fountainhead
|Apollo Group Inc. has agreed to lease two large multi-story office buildings that will be constructed at Fountainhead Corporate Park in Tempe. (PFG)|
Consumer credit lowest since 2006
|Consumer credit dropped by $21.5 billion from June to July, according to new figures from the Federal Reserve Bank.|
Union Distributing adds large solar systems to Phoenix, Tucson facilities
|Union Distributing Co. will add nearly 250 kilowatts of solar power to its facilities in Phoenix and Tucson as it looks to cover most if not all of its energy use.|
“The Continued Risk of Troubled Assets”, the latest report from the Congressional Oversight Panel (COP), points out the ongoing risks that commercial and residential mortgage-backed securities (CMBS and RMBS, respectively), along with other illiquid troubled assets, pose for financial institutions and the financial system.
Bankruptcy filings keep rising in Arizona
|Bankruptcy filings continued climbing last month across the Valley and Arizona, although at a slightly lesser pace than previous months, according to the U.S. Bankruptcy Court of Arizona.|
New stores, restaurants for SanTan Village
|SanTan Village mall added seven names to its roster of stores, restaurants and service retailers.|
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.
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