Daily News for Commercial Real Estate & Business – November 17, 2009

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


Goodwill Industries of Central Arizona Inc. has leased four new retail store locations, totaling more than 118,000 square feet, across the Phoenix metropolitan area.

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Real-estate trusts defy downturn

You might think the stock market and real estate would be a combustible combination these days. If so, you’d be wrong.

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Arizona lands solar manufacturing facility

Arizona received its first official announcement of a solar manufacturing plant since putting up manufacturing incentives when Suntech Power Holdings Co. Ltd. announced Sunday it would locate a facility in the state.

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NHL trying to work out new lease deal to help secure new owner for Phoenix Coyotes

National Hockey League Commissioner Gary Bettman is in the Valley today holding meetings with Glendale officials regarding the future of the Phoenix Coyotes.

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Construction backlog grows in September

The number of construction projects under way nationwide showed a slight uptick in September, according to data collected by Associated Builders and Contractors.

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National retail sales increase

National retail sales in October – not counting vehicle sales – increased for the third-consecutive month, an encouraging sign for the hard-hit industry, according to a Retail Industry Leaders Association report released Monday.

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Ground broken for Diamondbacks-Rockies Cactus League facility

Less than four months after the Arizona Diamondbacks and Colorado Rockies announced they would share a new spring training facility on land owned by the Salt River Pima-Maricopa Indian Community, the project broke ground Monday at the northwest corner of Loop 101 and Indian Bend Road.

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Mesa set to rezone land to allow construction of film studio

Mesa is poised to approve zoning changes that would clear the way for up to 55 acres of movie, television and recording studios and soundstages to be built near Phoenix-Mesa Gateway Airport.

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CoStar Drills for Data, Uncovers Gold Mine

If there’s one lesson that the long, harrowing months of recession and financial crisis have taught, it’s that in a global downturn there are few safe harbors. Stocks, bonds, and commercial real estate can all suffer brutal declines in value.

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3 stars: Bice Bistro upscale oasis in Glendale

Westgate City Center is like a food court on steroids. It has a touch of Las Vegas in its WaterDance fountain. As an outdoor shopping center, it has a village feel – if that village were Disneyland.

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$150M Mountain Shadows redevelopment in final stages

When hotel designer Dodd Mitchell first came to Paradise Valley, he was struck by the beauty of Camelback Mountain.

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Maricopa, Pinal counties attracting Boomers

Maricopa and Pinal Counties appear to have especially high concentrations of Baby Boomers, according to a new profile of this group by the U.S. Census Bureau.

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10/07/09 – ADDITION/ALTERATION at 2605 W. 1st St. for SMI Manufacturing Declared Valuation: $450,000 Plan Check No.: PC09-0772

10/14/09 – ADDITION/ALTERATION at 4525 S. McClintock Dr. for First Baptist Church of Tempe Declared Valuation: $2,090,900 Plan Check No.: PC09-0808

10/15/09 – ADDITION/ALTERATION at 8160 S. Hardy Dr. for Everest Online Declared Valuation: $390,000 Plan Check No.: PC09-0811

10/15/09 – TENANT IMPROVEMENT at 1642 S. Priest Dr. for Choices Network of Arizona Declared Valuation: $846,800 Plan Check No.: PC09-0812

10/21/09 – TENANT IMPROVEMENT at 1345 W. Elliot Rd. for The Dump Showroom Declared Valuation: $1,500,000 Plan Check No.: PC09-0823

10/21/09 – TENANT IMPROVEMENT at 1515 W. 14th St. for Bank of America Declared Valuation: $500,000 Plan Check No.: PC09-0825

10/26/09 – NEW PARKING STRUCTURE at 2735 S. Hardy Dr. for Kalil Bottling Co. Declared Valuation: $1,100,000 Plan Check No.: PC09-0842

10/27/09 – ADDITION/ALTERATION at 255 E. Marigold Ln. for JGM Water Treatment Plant Declared Valuation: $800,000 Plan Check No.: PC09-0846

10/28/09 – TENANT IMPROVEMENT at 1255 W. Washington St. for Sonora Quest Laboratories Declared Valuation: $300,000 Plan Check No.: PC09-0853


10/08/09 – ADDITION/ALTERATION at 126 W. Gemini Dr. for Verizon Tempe MSC Battery Room Declared Valuation: $2,000,000 Plan Check No.: PC09-0586

10/09/09 – TENANT IMPROVEMENT at 1250 W. Washington St. for Medaire Declared Valuation: $312,900 Plan Check No.: PC09-0729

10/13/09 – ADDITION/ALTERATION at 350 W. Washington St. for First Solar Declared Valuation: $882,200 Plan Check No.: PC09-0698

10/13/09 – TENANT IMPROVEMENT at 1616 W. 17th St. for University of Phoenix Declared Valuation: $440,500 Plan Check No.: PC09-0732

10/15/09 – ADDITION/ALTERATION at 5000 S. Arizona Mills Cir. for Sea Life Center Declared Valuation: $2,316,700 Plan Check No.: PC09-0683

10/26/09 – TENANT IMPROVEMENT at 1305 W. 23rd St. for Wells Fargo, Bldg G Declared Valuation: $480,000 Plan Check No.: PC09-0695


10/02/09NEW PARK & RIDE, LIGHT RAIL at 2235 E. Apache Blvd. for East Valley Light Rail Declared Valuation: $3,500,000 Plan Check No.: PC07-0170

10/07/09 – TENANT IMPROVEMENT at 1305 W. 23rd St. for Wells Fargo Declared Valuation: $497,000 Plan Check No.: PC08-1203

10/14/09 – ADDITION/ALTERATION at 800 E. Southern Ave. for Walmart Declared Valuation: $5,400,000 Plan Check No.: PC08-0823

10/20/09 – ADDITION/ALTERATION at 1610 S. Priest Dr. for Ellison Machinery Declared Valuation: $442,900 Plan Check No.: PC09-0446

10/27/09 – NEW 299 UNIT RESIDENTIAL/ MIXED USE BUILDINGS (17,700 s/f) at 1900 E. Apache Blvd. for Campus Suites on the Rail Declared Valuation: $46,083,400 Plan Check No.: PC08-0246

REGISTER ASAP! THERE ARE A LIMITED NUMBER OF TICKETS AVAILABLE FOR THIS EVENT! I am a panelist for the CCIM/IREM Economic Forecast on January 12, 2010. It is at the Phoenix Country Club and starts at 8AM. I will be on the Retail Panel with Daniel Pollack and Kevin Schuck. Our moderator is David Malin from Vestar. If you are in town, please come support me at the event. The website to register is

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