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Real Estate and Development

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Judge dismisses bankruptcy case of a Walters company

A business controlled by developer Randall Walters cannot reorganize its finances under federal bankruptcy laws. Bankruptcy Judge Lee Jackwig dismissed the case of Griz Lee LC after the U.S. trustee overseeing the case said the …

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Contractors couldn’t keep up with rising costs in April, group says

Contractors recouped a fraction of their costs last month because of rising petroleum and metals prices, according to an analysis of producer price index figures released today by the Associated General Contractors of America. Ken …

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Judge clears the way for purchase of former Home Valu store

Vista Real Estate Investment Corp. Inc. can buy the former Home Valu Inc. store in Urbandale for $1.5 million, a bankruptcy judge in Minnesota ruled May 4.

Home Valu closed the store at 4105 N.W. …

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Best Buy to downsize as Whole Foods moves in

Best Buy Co. Inc. will downsize its West Des Moines store as the owner of Water Tower Place develops a new space for a Whole Foods Market Inc. store.

Jeff Daniels, a broker associate with …

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Tied to commercial real estate, 13 banks fail

Though the reasons 13 U.S. banks failed in April varied, New York-based Trepp LLC said lending in the commercial real estate arena represented the largest source of nonperforming loans on those financial institutions’ balance sheets. …

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Distribution leads slight industrial improvement

The industrial sector of the U.S. commercial real estate market began to recover in the last half of 2010, according to a new report by CB Richard Ellis Group Inc. Economist Jared Sullivan wrote that …

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GlobeSt.com publisher launches B2B Directory

ALM Media Properties LLC’s Real Estate Media Group announced the launch of its B2B Directory, a business-to-business website focused on the commercial real estate industry. Touting a list of more than 5,000 providers, the publisher …

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Home sales up from previous month, down year-over-year

Des Moines area home sales in April were up 10 percent from March, but were down 25 percent from a year earlier, according to the Des Moines Area Association of Realtors.

There were 626 contracts …

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Homeowners with negative equity still growing

More than 28 percent of U.S. homeowners owed more than their properties were worth in the first quarter, as housing values fell the most since 2008, Zillow Inc. said today. Homeowners with negative equity increased …

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Construction employment stagnates

The construction industry added 5,000 jobs in April, and the sector’s unemployment rate fell slightly to 17.8 percent, according to an analysis of new federal employment data by two independent trade groups.

Associated Builders and …