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

Here are the news stories you might find interesting today:

Wigwam will be run by group of companies

Boys and Girls Club leaving ASU Poly campus

Six Lounge shuts its doors

Meritage Homes reinvents itself to survive

Report likely isn’t needed for land parcel sales

GM Filing Affects Industrial Sector, Local Economies
A major part of bankrupt carmaker General Motors’ plans to fast track its reopening as a new, sleeker firm in 60 to 90 days are a number of real estate-related decisions that could have an effect on commercial the property industry, especially the industrial sector.

Orion Snags 178-Unit Partial Condo

PHOENIX-Less than four years after buying Citi on Camelback for conversion, Sunvest disposes of part of the asset for $12.4 million.

View article…

UniqueTek expands to Chandler site

UniqueTek, a producer of specialty products for shooting sports, has moved to a new, larger office at 574 E. Alamo Drive in the Arizona Corporate Park in Chandler.

View article…

Existing home sales see monthly surge

A national housing barometer shows existing home sales in April saw the largest monthly jump in eight years as buyers took advantage of low prices and record low mortgage interest rates.

View article…

Construction spending sinks

Construction spending sank to an annualized rate of $969 billion in April, 10.7 percent lower than the pace of construction a year ago, according to figures released Monday by the U.S. Census Bureau.

View article…

Balsillie files application for Phoenix Coyotes move to Ontario

An application to relocate the Phoenix Coyotes to Hamilton, Ontario, was filed Monday by Jim Balsillie, the only formal bidder so far to buy the fledgling franchise.

View article…

Coyotes actual attendance left Glendale arena a third empty

The Phoenix Coyotes hockey team relied on ticket giveaways to help boost attendance that averaged about 11,000 per game during the 2008-09 season when just filled seats for the 41 games are counted.

View article…

CItyNorth incentive battle heads to Arizona Supreme Court

The battle over CityNorth is headed to the Arizona Supreme Court.

View article…

Arizona awards transportation stimulus contracts

The Arizona State Transportation Board awarded construction projects funded by the American Recovery and Reinvestment Act to the following firms. More contracts are expected to be announced within the next two weeks.

View article…

Arizona comes in 38th among state for per capita Gross State Product

Arizona ranks 38th among U.S. states for per capita Gross State Product. The state ranked 35th on that measure in 2007 and 33rd in 2006, according to the U.S. Bureau of Economic Analysis.

View article…

Multifamily Mortgage Delinquencies Increase in Q1 2009
Washington, D.C.–The weakening economy and continued credit crunch led to increases in commercial/multifamily mortgage delinquencies during the first quarter of 2009, according to the latest Commercial/Multifamily Delinquency Report, released by the Mortgage Bankers Association (MBA).

For a FREE market evaluation of your property, contact me immediately!