Daily News from the desk of Nicholas L Miner, CCIM – July 3, 2009

I hope you have a Great Independence Day Weekend!

Here are the news stories you might find interesting today:

Peoria apartment complex sell for $21.5M

Bank wants control of land near ballpark

Restaurants close down, others struggle to survive

U.S. loses 467,000 jobs, unemployment rate hits 26-year high

The U.S. lost 467,000 jobs in June pushing the national unemployment rate to its highest point in 26 years and into double digits for men, teenagers and the working class.

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The Vig eyes spot for second location

The Vig is going to expand its presence in the area and expects to open a second location early next year in north central Phoenix.

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Mesa, developer hold Fiesta Village talks

Blotting out an eyesore in one of Mesa’s busiest economic corridors prompted city officials to explore condemning the property to get an unresponsive developer’s attention.

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Phoenix approves Biltmore renovation

The Phoenix City Council has approved a massive $600 million renovation of the Arizona Biltmore Resort & Spa, which officials said will update the amenities of the swank hotel while preserving its historic character.

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Ian Bremmer on state capitalism and the crisis

Despite massive state interventions in economies around the world, many corporate leaders and investors act as though globalization remains the dominant paradigm. That, the author contends, is a mistake.
Read more on the McKinsey Quarterly >

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