Daily News from the desk of Nicholas L Miner, CCIM – May 21, 2009

Daily News from the desk of Nicholas L Miner, CCIM

Here are the news stories you might find interesting today:

Related Cos. seeks financing for CityNorth
The Related Cos. is facing delays on the $570 million second phase of its CityNorth project in Phoenix. The developer is still seeking financing to build the second phase of the project, which was supposed to be anchored by Nordstrom and Bloomingdale’s.

Economists: Ariz. recovery still a ways off

The economic recession is expected to end in the second half of this year, but job losses and the state government’s money woes will continue a lot longer, according to economists who spoke to the Economic Club of Phoenix on Wednesday.

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Container firm APL shipping jobs to Phoenix

APL, a shipping container company, announced Wednesday that it will move its regional headquarters from Oakland, Calif., to the Kierland mixed-use development in northeast Phoenix.

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Corporation Commission orders millions in securities penalties

The Arizona Corporation Commission announced findings in two securities investigations Wednesday.

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Vacant parcel to be sold

Luxury condos proposed for One Scottsdale

Occupancy decline prompts rate drops of as much as 40%

Sound Bites from the ICSC Convention Floor

Thousands of retail and shopping center executives descended on the Las Vegas Convention Center over the past few days as part of an annual rite of passage as they attended the Global Retail Real Estate Convention. The crowds were much thinner than in past years as most companies in the throes of a deep recession dispatched only their top decision-makers to this oasis in the desert. Whether they were commiserating about the weak economy or engrossed in deal making, attendees had no shortage of hot-button issues to discuss. What follows is a sampling of their insights about the state of the industry…

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