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Daily News for Commercial Real Estate & Business – September 13, 2011

Here are the news articles you might find interesting today for commercial real estate and business:

Arizona Community Foundation Renews 17,219 SF in Phoenix Arizona Community Foundation, a non-profit organization, signed a 10-year renewal for 17,219 square feet at 2201 E. Camelback Road in Phoenix. The six-story, 200,576-square-foot office building was built in 1984 and sits on 3.52 acres. View article…

CyrusOne to build new data center on 40 acres in Chandler CyrusOne, a subsidiary of Cincinnati Bell Inc., has purchased a 40-acre land parcel in Chandler for $12.5 million. CyrusOne will build a 1 million-square-foot data center in the Continuum science and technology business park, according to a news release distributed by CB Richard Ellis in Phoenix. View article…

Agua Del Sol consolidates in new Tempe location Agua Del Sol, a solar company, has leased a 23,124-square-foot space in a general industrial building at 602 W. 22nd St. in Tempe. The company is consolidating current operations in Deer Valley and Safford and moving them to Tempe. Financial details of the 3-year lease were not disclosed. View article…

New gastropub, The Private Rack, headed to Scottsdale Construction is under way at a new gastropub in Old Town Scottsdale, and crews are hoping to turn the project into a television show. Called The Private Rack Scottsdale, Chef Jay Leonard is developing a menu that features a global twist on a British pub. The location is 7117 E. Sixth Avenue. View article…

ASU’s help will double downtown Phoenix YMCA’s size The downtown Phoenix YMCA will be bigger within the next two years because of a partnership between the YMCA and the Arizona State University Downtown Phoenix campus. Last month, the Arizona Board of Regents agreed to let ASU spend $1.37 million to buy from the YMCA about 27,700 square feet of property north and south of the Lincoln Family Downtown YMCA at 350 N. First Ave. View article…

Consignment store, coffee shop pick Fifth Ave. locations Downtown Scottsdale’s Fifth Avenue has attracted a mother-and-daughter consignment business and an entrepreneur who plans to convert a church-run coffee shop into an evening destination with the addition of beer and wine service. Liz Challinor and her mother, Sarah Smith, plan to open Over the Top Consignment at 7072 E. Fifth Ave. in a space vacated this summer by Arizona Wig Boutique. View article…

Investors Flocking to Safety of CRE Commercial real estate retained its first-place rating among institutional investors in the second quarter of 2011, as investors focused on safety, stability, and cash flow in their investment holdings. This is according to a new report from the Real Estate Research Corporation (RERC) based in Chicago. View article…

Distressed Real Estate Makes Its Way Into Obama’s Jobs Plan In addition to refinancing assistance for mortgage holders, President Barack Obama’s proposed American Jobs Act includes a handful of elements that relate to the distressed real estate market, all part of what the administration has labeled Project Rebuild. View article…

Phoenix-area Foreclosure Rate Rises for First Time This Year For the first time this year, the Phoenix area saw a jump up in the single-family-home foreclosure rate. A new report from the W. P. Carey School of Business at Arizona State University shows 31 percent of the existing-home transactions in the market were foreclosures in August. This comes after months of lowering the rate, from 43 percent in January and February, all the way down to 29 percent in July. Before this new development, the market had finally dipped below a 30-percent foreclosure rate for the first time since spring 2009. However, timing may be playing a role in the reversal. View article…

Retail Revitalization Increasing a retail property’s value is what investing is all about. And, today’s savvy investors aren’t waiting for inflation to push up the value of their properties – they are seeking creative ways to improve their assets’ financial health. From cost-effective upgrades to reducing common expenses, these tried-and-true tips can help to improve a retail property’s value in any market. View article…

Retail Tenanting Techniques Upticks in consumer spending and hints at economic improvement are fueling some long-awaited positive momentum in the retail sector. Despite the mild industry buzz, the latest data reports offer the view many property owners see when they look around their markets: Vacancy for strip centers rose to 11.0 percent nationwide in 2Q11 – just 10 basis points below the two-decade high of 11.1 percent vacancy in 1990, according to Reis. View article…

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