Daily News from the desk of Nicholas L Miner, CCIM
Here are the news stories you might find interesting today:
Impact of EV transit funds unclear
Ahwatukee retail vacancy rate half that of Valley
Opus West owes more than $160 mil, lenders group says
Green renting: Tenants desire eco-friendly digs
Fed: Commercial property could get special lending program
The Federal Reserve might look into a new special lending program aimed at helping out the troubled commercial real-estate sector, says Dennis Lockhart, president of the Atlanta Federal Reserve Bank. He said the deteriorating condition of commercial real estate is “on our watch list this year as a risk to the [economic] outlook.” Wall Street Journal, The (04/18)
Now is the time to buy retail, investor Chaim Katzman says
International shopping-center investor Chaim Katzman says there are a lot of great bargains on the market in the U.S. today and the time to buy is now. The deals made in the next few years, he says, “will determine who the big players for the next 20 years are going to be.” Wall Street Journal, The
Quarles & Brady forms practice group to handle sustainability law
Quarles & Brady LLP has formed a group among its offices to specialize in clean energy, climate change and sustainability law.
Blandford Homes buys Gilbert lots after Randall Martin Homes defaults
Mesa-based Blandford Homes has purchased 86 finished residential lots in Gilbert that were defaulted on earlier this year by Randall Martin Homes.
Surprise plans TechCelerator at former City Hall
The city of Surprise is looking to fill much of its vacated City Hall building with technology companies as the northwestern suburb seeks to broaden its economic base.
Australian owner adding new slides, renaming WaterWorld
An Australian amusement and water park company is putting in a slew of new water slides and water rides and will rename the WaterWorld Safari water park in North Phoenix.
Foreclosure Prompts 402-Unit Offering
MESA, AZ-A condo converter’s bankruptcy and subsequent lender REO brings Falcon Glen Apartments to market at a $16 million ask.
Developer Arranges Financing for Glendale, AZ Main Street Project
The La Paz County Development Industrial Authority has approved nearly $800 million in bond financing for Main Street, a mixed-use project in Glendale, AZ developed by HB Equities. The development surrounding the state’s new Camelback Ranch Glendale spring training facility will serve as the future headquarters of USA Basketball.
Survey: Economic Conditions Snapshot, April 2009
Executives are slightly more positive about the bigger economic picture than they were six weeks ago, and some see hope for their companies toward the end of 2009. Strong majorities support international coordination of responses to the crisis and say protectionism would harm their nation’s economy.
Read more on the McKinsey Quarterly >
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