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Daily News for Commercial Real Estate & Business – September 14, 2011

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

Daniel Pollack memorial service set for Friday in Chandler A public memorial service for Daniel Pollack will be held at 11 a.m. Friday, Sept. 16, at the Chandler Center for the Arts, 250 N. Arizona Ave. Pollack, the son of local real estate investor and philanthropist Michael Pollack, was killed early Sunday morning in a hit-and-run accident near the intersection of Thomas and Hayden roads in Scottsdale. View article…

Commercial Real Estate Brokers No. 4: Commercial Properties Inc. This week’s edition of the Phoenix Business Journal, due out Friday, is ranking commercial real estate brokers by total number of full-time, commercial agents in Maricopa County. Coming in fourth on the list is Commercial Properties Inc, of Phoenix, reporting a total of 50 agents. View article…

Hotel Valley Ho expansion sought The Scottsdale Planning Commission on Wednesday will consider a site plan and proposed changes to allow the Hotel Valley Ho to expand on 4 acres southwest of Main and 69th streets. The hotel, 6850 E. Main St, is asking for modified zoning stipulations, amended development standards and a new site plan to add hotel rooms, conference rooms and parking facilities. View article…

Opinion: Riverview changes a good start, but may not go far enough The company attempting to revive the ailing Mesa Riverview shopping center has been busy. Kimco Realty won Planning Commission approval last month for its ideas to demolish buildings, build a stage and improve pedestrian amenities in the theater district. A plan to rebrand its freeway signs is before the City Council, and a more comprehensive sign proposal is expected to go before the Board of Adjustment in October. But the question remains: Is this what Riverview needs to attract more visitors? View article…

Phoenix economy shows anemic growth in 2010 The Phoenix area’s economy grew at the lowly rate of just 0.7 percent last year, well below the national average of 2.5 percent, according to figures released Tuesday. The U.S. Bureau of Economic Analysis reported that the gross metropolitan product (GMP) of the Phoenix metro area was $190.6 billion in 2010. That was up 0.7 percent from the inflation-adjusted figure for 2009. View article…

How Will The Economic Slowdown Affect Commercial Real Estate Fundamentals? Volatility continued to haunt financial markets in late August through early September, and fear of a double-dip recession remains prevalent. Even if economy does not contract sharply, how would slow growth affect the near-term prospects of commercial real estate fundamentals? Fortunately, we already have evidence of how various property types will fare through a slow economic recovery. View article…

CoreLogic: Nearly half of Arizona mortgage holders are under water Arizona home owners have the second highest percentage of under water mortgages in the nation at 49 percent, according to new data from CoreLogic. Only Nevada has a higher percentage of homes with negative equity, at 60 percent. When borrowers are in negative equity, the price of their home is worth less than the mortgage they owe. View article…

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