Daily News from the desk of Nicholas L Miner, CCIM – July 28, 2009

Here are the news stories you might find interesting today:

512,000-SF Campus Goes to Austin Buyer

CHANDLER, AZ-Capital Commercial Investments ends up with the 152-acre campus that once housed Motorola Inc.

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Yum expects softer U.S. sales for the second half of fiscal ’09

Yum! Brands Inc. reported this month that U.S. sales would be weaker than expected for the remainder of 2009, underscoring concerns that the restaurant industry, and even quick-service chains, still face an uphill battle.

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Bank of America Cutting Bank Branch Chain by 10%
Bank of America is planning to whittle down its retail bank branch business from its current 6,100 locations to about 5,500 locations, which is less branches than it had in operation in 2004. According to the Wall Street Journal, Bank of America CEO, Kenneth Lewis, broke the news to investors last week, but gave no timeline for shuttering the branches.

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Fitch Places $9B U.S. CMBS on Rating Watch Negative

Fitch Ratings placed 238 CMBS bonds from 33 transactions on Rating Watch Negative as part of an ongoing review of the CMBS portfolio using Fitch’s updated surveillance criteria, it reported on Friday. However, the ratings agency said it expects the status to be resolved over the next 90 days as it evaluates transactions issued between 2006 and 2008.

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