Daily News for Commercial Real Estate & Business – January 26, 2010

Here are the news stories you might find interesting today regarding commercial real estate and business:

WAXIE cleaning supply company expands in Mesa

WAXIE isn’t exactly a household name. More like a public restroom name. But now the company is becoming a green name, when it comes to both the environment and Mesa’s economy.

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CityNorth agreement stands for now, but court clarifies position on future cases

Phoenix’s $97.4 million deal with CityNorth will be allowed to stand, but future economic development agreements will have to comply with a stricter standard, the Arizona Supreme Court decided today.

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Bitter investors watch Elevation Chandler lawsuit closely

A group of investors in California is paying close attention to the saga of Elevation Chandler, especially the lawsuit by the man who claims he won the property at a trustee sale for a mere million dollars, a fraction of what the site is worth.

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Intel to install rooftop solar panels

Intel Corp. said Monday it will install rooftop solar panels at its Ocotillo and Chandler Boulevard complexes in Chandler as part of a companywide solar power initiative.

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Farmers market to debut in Tempe

Tempe’s Sixth Street Park will be the site for the grand opening of the Mill Avenue Farmer’s Market.

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Wal-Mart cuts about 11,200 Sam’s Club jobs

NEW YORK – Wal-Mart Stores Inc. will cut about 11,200 jobs at Sam’s Club warehouses as it turns over the task of in-store product demonstrations to an outside marketing company.

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Commercial real estate is a hot market, for court-appointed caretakers (Keep us in mind for any potential Receiver Opportunities!)

As the sluggish economy deprives building owners of their property, receivers are in high demand.

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House panel OKs business tax breaks

Calling it the ultimate solution to the state’s economic woes, members of a House panel approved an extensive package of tax breaks for business on Monday.

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NABE: Economy making slow recovery

Slow as it may be, the economy appears to be making a recovery, according to a newly released report from the National Association for Business Economics.

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Forecasters See Return to Stability, Not a Resurgence for Retail Real Estate in 2010

Based on the flurry of reports from a wide range of industry observers, there appears to be growing consensus that the worst may be over for the U.S. economy and that, with consumer spending returning to positive, a retail real estate recovery is in sight, say industry forecasters.

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Forecaster: Fear Paving Way to Economic Recovery

U.S. policymakers’ hasty comparisons of the unfolding recession to the Great Depression in 2008 triggered a panic that virtually halted discretionary spending by consumers and businesses alike, according to James Paulsen, chief investment strategist at Wells Capital Management.

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