Daily News April 13, 2009

Here are the news stories you might find interesting today:

Tempe Marketplace thrives as others falter

CityNorth legal fight has fallout for business

Construction jobs coming - but not enough to cover losses

Top Fountain Hills developer files for Chapter 7

Broadening of TARP could be good news for commercial real estateIf, as recent reports in The Wall Street Journal suggest, the TARP program is going to be extended to life-insurance companies, that development could indirectly free up some capital for commercial real estate. Life insurers have been important sources of funds for the industry, although their allocations to the industry have been cut back since the credit-market meltdown.

MANY INVESTORS CHASING NOTES, BUT GETTING DEALS DONE IS DIFFICULT FOR MOST Full story

SECURITY PROPERTIES REPORTED TO BE IN DRIVER’S SEAT TO BUY NOTE ON SCOTTSDALE APARTMENTS Full story

First-quarter industrial vacancy rates up in Phoenix area
A year ago, 9.3 million square feet of industrial space was under construction in the Valley. Today, that figure is about 2.9 million -- and that’s a good thing, according to a report released this week by CB Richard Ellis.
View article...

Forum: Stimulus not enough to spur full green transition for Arizona economy
Arizona and the Valley can become sustainable centers, but it’s going to take more than federal stimulus dollars and time to transform several factors, according to experts who assembled for a panel Thursday.
View article...

Existing-home sales up, but foreclosure percentage down in Phoenix area
The number of existing-home sales in Maricopa County increased slightly in March, but the percentage of foreclosure sales dropped sharply.
View article...

USAA to relocate 145 workers to Phoenix area
As USAA continues the consolidation of its offices in Sacramento, Calif., and Norfolk, Va., 145 of those workers will be relocated to the Phoenix area.
View article...

Retailers dump 8.7M square feet of U.S. mall space in 1Q
New figures from New York-based real estate research firm Reis show that strip malls, neighborhood centers and regional malls are losing stores at the fastest pace in at least a decade.
View article...

Fresh & Easy Sells for $2.8M
Fresh & Easy Neighborhood Market Inc. purchased the 1.6-acre parcel at 1904 W. Glendale Ave in Phoenix, AZ, for $2.8 million, from Arizona Partners Retail Investment Group. Fresh & Easy had been leasing the property on a ground lease. It occupies...
View article...

Chandler Industrial Sells for $1.7M
Pennington Investments acquired the industrial building at 6313 W. Commonwealth in Chandler, AZ, for $1.7 million, or about $90 per square foot, from AZ Speed & Marine. Built in 1997, the 18,915-square-foot manufacturing building features a clear height...
View article...

Fulton confident despite Chapter 11
Tempe-based Fulton Homes remains on solid ground, despite filing for Chapter 11 bankruptcy protection earlier this year, and it views the south East Valley as the key to its future prosperity, according to a company executive.
View article...

2,300 turn out for jobs at Mesa market
Officials of Pro's Ranch Market interviewed about 2,300 job applicants over three days and hired about 500, some of them part time, to staff a new supermarket the company will open at the end of this month in Mesa.
View article...

Sears to be first to open at Mill Crossing
A Sears Appliance Store will be the first retailer introducing shoppers to the new 17-acre Mill Crossing center when it opens next week near the Gilbert-Chandler border.
View article...

TEMPE SPECIFIC NEWS:
PERMITS ISSUED

03/03/09 - ADDITION/ALTERATION at 5705 S. Kyrene Rd. for Southwest Gas Tempe Solar
Declared Valuation: $250,000 Plan Check No.: PC08-1076

03/09/09 - ADDITION/ALTERATION at 2005 E. Technology Cir for Wipro Infocrossing Data Center
Declared Valuation: $1,400,000 Plan Check No.: PC09-0068

03/10/09 - NEW BUILDING at 1565 E. Warner Rd. for Mission del Sol Church
Declared Valuation: $2,142,800 Plan Check No.: PC08-0794

03/12/09 - ADDITION/ALTERATION at 7414 S. Harl Ave. for Coca-Cola Enterprises
Declared Valuation: $2,500,000 Plan Check No.: PC08-0652

03/17/09 - NEW RETAIL BUILDING & FUELING STATION at 2080 E. Rio Salado Pkwy. for Sam's Club
Declared Valuation: $6,040,000 Plan Check No.: PC07-1063

03/19/09 - TENANT IMPROVEMENT at 3011 S. 52nd St., Ste 115, for ADT
Declared Valuation: $410,000 Plan Check No.: PC08-1189

03/23/09 - ADDITION/ALTERATION at 1601 W. Rio Salado Pkwy for Spring Hill Suites
Declared Valuation: $400,000 Plan Check No.: PC08-0334

06/16/08 - NEW RETAIL BUILDING at 815 E. Baseline Rd. for Lakes Towne Center - Shops B
Declared Valuation: $1,226,800 Plan Check No.: PC08-0595

03/30/09 - ADDITION/ALTERATION at 800 E. Southern Ave. for Walmart
Declared Valuation: $5,400,000 Plan Check No.: PC08-0823


PERMITS FINALLED

03/05/09 - ADDITION/ALTERATION at 2055 E. Technology Cir. for T Systems
Declared Valuation: $200,000 Plan Check No.: PC08-1120

03/20/09 - ADDITION/ALTERATION at 5801 S. Rural Rd. for Tempe Emanuel
Declared Valuation: $900,000 Plan Check No.: PC06-0885

03/23/09 - ADDITION/ALTERATION at 3201 S. Evergreen Rd. for Resurrection Catholic Church
Declared Valuation: $1,200,000 Plan Check No.: PC08-0332

03/30/09 - ADDITION/ALTERATION at 1150 W. Grove Pkwy for Grand Canyon University
Declared Valuation: $500,000 Plan Check No.: PC08-1073

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

New website for my BLOG has been launched! Check it out at: http://www.nickminer.com/

Follow me on Twitter: @nickminer

Here is my LinkedIn Profile: http://www.linkedin.com/in/nminerccim