Daily News from the desk of Nicholas L Miner, CCIM – May 27, 2009

Daily News from the desk of Nicholas L Miner, CCIM

Here are the news stories you might find interesting today:

Email me for a copy of the STNL Retail Research Report for the second half of 2009. Note that all products types have cap rates increasing anywhere from 20-80 bps, if not more.

Big improvements at 2 Mesa parks

No takers yet for old City Hall space

Chandler scraps Arizona Ave. lane reduction

Small companies grow as large firms cut costs

Land owner has right to road access

First-time buyers grab foreclosures

Index: Phoenix home price decline leads nation

The first-quarter S&P/Case Shiller Home Price Index affirms that home prices are dropping more quickly in Phoenix than any other major U.S. city.

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Flagstaff ranks among Kiplinger’s best cities

Kiplinger’s Personal Finance named Flagstaff among its Best Cities of 2009 – the only Arizona city to make the top 10 list.

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Axway shifts HQ from Scottsdale to Phoenix

Axway has moved its headquarters to Phoenix as a way to have more space for the company’s continued expansion.

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Consumer confidence up dramatically

Consumer confidence jumped in May to its highest level since September. The Conference Board Consumer Confidence Index now stands at 54.9, up from 40.8 in April.

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Intermountain Drilling opens AZ office

The Phoenix commercial real estate market is barely moving when it comes to commercial properties sales, but leases are being signed here and there. Here’s a look at some recent deals:

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The Expert: The Uneven Road to Recovery
By Ken Riggs, Real Estate Research Corp.
No one ever promised that the road to economic recovery would be a smooth one, but even those of us who were prepared to navigate hills, curves and steep valleys are finding the beginning stages of economic stabilization more tiresome than we had imagined.

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