Daily News May 6, 2009

Daily News from the desk of Nicholas L Miner, CCIM

Here are the news stories you might find interesting today:

Mesa, Falcon Field businesses lock horns

Gilbert to get $1.8M for green projects

Gold Nugget owner announces gallery's closing

Expansion of TALF to Cover CMBS, 5-Year Loan Terms Get Praise from IndustryWashington, D.C.--The Federal Reserve’s Term Asset Backed Securities Loan Facility (TALF) has been expanded to cover commercial real estate backed securities (CMBS) and loans. In addition, the loans provided to investors under TALF to purchase the securties will have five-year terms, which better match the needs of CMBS investors.

Will TALF Expansion Jumpstart CMBS Lending?
The Federal Reserve announced that it will expand the Term Asset-Backed Security Loan Facility, or TALF, to include AAA-rated securities backed by new and recently originated commercial mortgage loans. The move is intended to grease the wheels of borrowing for commercial mortgage-backed securities (CMBS).

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New center for breast-cancer research opens

McShane Takes On 103,000-SF HQ Rehab
PHOENIX-The multi-million-dollar renovation for Climatec's regional headquarters includes exterior upgrades and a gut of the interior.
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Reports: Opus West Files for Bankruptcy
PHOENIX-The firm was hurt by construction loans it owes on Country Hill Galleria mall, in Austin, TX, according to reports.
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Opus' Texas shopping center files Ch. 11 to avoid auction
A shopping center near Austin, Texas, developed by Opus West has filed for Chapter 11 bankruptcy in order to avoid a foreclosure auction that was scheduled for noon Tuesday.
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ArmorWorks signs lease in 10 Chandler office park
ArmorWorks Enterprises, a Chandler-based company that makes protective gear for U.S. combat troops, has signed an eight-year lease for 80,167 square feet of space in 10 Chandler, an office park at 500 N. 54th St.
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Federal help wanted for commercial property
Commercial real estate brokers, developers and others believe the commercial real estate downturn is severe enough to warrant federal assistance.
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'Nontraditional' businesses face restrictions
Gilbert is in the midst of determining how much say it should have over new pawn shops, tattoo parlors, check-cashing outlets and smoking lounges.
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Chandler looks to revamp Price corridor image
Chandler wants to recast the image of its Price Road technology corridor from simply a practical place for high-tech manufacturing to one that offers high-end living for a well-to-do work force.
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Used vehicle exchange opens in Scottsdale
A new business called “A Lot 2 Offer” has opened in Scottsdale offering buyers and sellers of used vehicles a place to go.
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Phoenix Coyotes file Chapter 11
The Phoenix Coyotes hockey team Tuesday filed for Chapter 11 bankruptcy protection and could be sold to a new ownership group that wants to move the team from Glendale to Canada.
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