Daily News from the desk of Nicholas L Miner, CCIM – July 16, 2009

Here are the news stories you might find interesting today:

Email me if you would like a copy of the Top 100 Retailers. Wal-Mart, as no surprise, took the top spot.

Deals abound for bargain-hungry apartment renters

Tiffany & Bosco Expands at Squaw Peak Corporate Ctr.

Tiffany & Bosco P.A. expanded into 24,214-square-feet of office space in Phase II of the Squaw Peak Corporate Center in Phoenix. The law firm was already residing in the Phase I. Located in the Piestewa Peak Corridor, the business park totals approximately…

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Consumer prices jump, industrial production falls

WASHINGTON — Consumer prices shot up in June by the largest amount in 11 months, reflecting the biggest jump in gasoline prices in nearly five years.

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Hundreds line up for 300 Mesa grocery jobs

Marisol Flores’ once-thriving cleaning business has been hit hard by the recession, so she’s out there with so many others looking for a job.

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Judge OKs Bashas’ spending plan

Customers of Bashas’ grocery stores shouldn’t expect to see major changes in the immediate future after a federal bankruptcy judge authorized the company Wednesday to pay vendors and employee wages.

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New reports show improvement in housing

Two new reports show slow improvement is being made in the East Valley’s new and existing home markets.

Last month, new home construction permits reached 1,018 across the Valley, the highest total in the last six months, according to the latest Phoenix Housing Market Letter by analyst RL Brown.

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Seattle Sutton’s opens kitchen, retail sites

John and Jo Dresh have opened Seattle Sutton’s Healthy Eating of Arizona lining up four distributors with retail storefronts across the Phoenix area.

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ASU index suggests home price slide may have hit bottom

New research from ASU shows Phoenix-area home prices are at or close to a market bottom.

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Property Managers Fight to Keep Tenants

If the resounding battle cry for property managers a year ago was “drive rental rates,” the new mantra is “keep existing tenants and maximize efficiency.”

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Buyers Prepare to Snatch Troubled Loans From Securitized Pools

Rating agencies are busy reviewing and downgrading existing commercial mortgage-backed securities issued between 2005 and 2007

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Retail Sales Rise But Economists Caution that Recovery is a Long Way Off

Although sales increased month over month to $342.1 billion, they were 9% below June 2008 levels, according to the Census Bureau
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Feds Pick Nine Firms To Go Out and Raise $8.5 Bil for Troubled Assets
The U.S. Treasury Department, the Federal Reserve, and the FDIC pre-qualified nine ventures to participate as fund managers in the initial round of their Legacy Loan and Legacy Securities Program. The nine entities now have up to 12 weeks to raise at least $500 million of capital each from private investors. The equity capital raised from private investors will be matched by Treasury.

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