Daily News from the desk of Nicholas L Miner, CCIM – June 12, 2009

Here are the news stories you might find interesting today:

Red Mango opens first Arizona store

Shoppers flock to Supermercado de Walmart

Investors not flipping houses, but renting

State handing out $121 million in federal funds to buy foreclosures

Phoenix home sales rise, foreclosure percentage falls

While the number of home sales continues to rise in the Phoenix area, the percentage of foreclosure sales is dropping.

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Data center breaking ground in Phoenix

Global Datacenter Trust is building its first data center, a 160,000-square-foot retrofit of an existing Phoenix building.

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What Tenants Should Know About Green Leases

Green leasing seems headed toward becoming part of the mainstream real estate discussion. However, there is still widespread uncertainty about what green leasing actually is. As such, both landlords and tenants are unsure of the advantages – and disadvantages – that a green lease can afford them. This is a missed opportunity, because a green lease is an excellent vehicle for both tenants and landlords to work together to achieve and retain a green-operated building, and critically in these tight times, benefit from reduced operating costs. Moreover, for landlords, studies show that going green …

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Commercial Real Estate: Not Sick, But Not Well

Sentiment among investors and developers about the outlook for commercial real estate is mixed. On the positive side, the stock market has trended up nearly 10% since April, and along the way, government loan programs have begun to work. But as previous podcasts from John B. Levy & Co. have emphasized, commercial real estate is a lagging indicator. It’s unclear whether the market has hit bottom. And even if it has, there are no signs that conditions are improving, even modestly.

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Buyer Snatches 56 Units from Foreclosure

TEMPE, AZ-The Canadian investor pays just over $3 million for Reach Apartments, making its first area buy.

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Study: State tourism worst since 2006

The Arizona tourism industry is suffering its lowest level of activity since 2006, according to an index compiled by the Megapolitan Tourism Research Center at Arizona State University in downtown Phoenix.

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