Desert Law Blog

Recent Posts from Desert Law Blog

• CHANDLER BIOSCIENCE AND TECH INCUBATOR IN THE WORKS

  I attended the US-Asia Expo this week and one of the main themes of the business leaders speaking there was that Arizona needs more public support to both attract new companies and to organically grow…

• WAVEYARD IN MESA LIVES ON

  I wrote back in December that the massive waterpark/hotel/commercial development named Waveyard to be built in Mesa was delayed indefinitely due to inability to obtain financing. Under the agreement with Mesa, the developers had until…

• 44 MONROE ONLY 5% OCCUPIED

  I wrote last month about the very difficult problems facing downtown Phoenix condominium developments - mentioning that 44 Monroe had very few, if any, sales. The Business Journal profiles a couple today who live in…

• BRIDGEVIEW AT HAYDEN FERRY LAKESIDE CONDOMINIUMS SOLD IN DISTRESSED DEAL

  High-end condominiums along Tempe Town Lake have sold in a bulk sale at at about 40% of their peak market value. The remaining 64 unsold condominiums in Bridgeview at Hayden Ferry Lakeside were sold to…

• FALLING START-UP COMPANY VALUATIONS

  Silicon Valley law firm Fenwick & West publishes a quarterly survey of venture financing, and not surprisingly the first half of 2009 was not pretty. They report that for the last two quarters "down rounds"…

• DOWNTOWN PHOENIX CONDOMINIUM DEVELOPMENT IN BANKRUPTCY

  The company that was developing Century Plaza in downtown Phoenix on Central Avenue from an office building into residential condominiums has filed for bankruptcy. Windsor Century Plaza LLC was put into bankruptcy this week by…

• "TIP OF THE ICEBERG" FOR COMMERCIAL FORECLOSURES IN PHOENIX

  The Republic details the coming wave of commercial foreclosures in the greater Phoenix area. From the article: More than 2,000 commercial properties in Maricopa County have received 90-day foreclosure notices since Jan. 1, representing $6.3…

• EMPTY PHOENIX WAREHOUSES ON THE WEST SIDE

  The WSJ has an article detailing the stalled market for warehouse space on Phoenix's west side. The article starts off... Along a 15-mile stretch of desert, amid strip malls and unfinished subdivisions, nearly a dozen…

• DOWNTOWN PHOENIX LUXURY CONDOS GO BUST

  The Business Journal reported last night that Summit at Copper Square has had a notice of trustee sale filed against it (i.e., foreclosure) with a trustee sale date of October 14th. The article indicates 74…

• LIGHT RAIL RIDERSHIP SLOWS IN THE HEAT

  June marked an expected slowdown for light rail ridership as ASU students headed home and Arizona heated up - keeping tourists away. Average weekday ridership slipped below 30,000 for the first time. I expect July…