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Phoenix Jobs Corps is Hosting a Job Fair in Downtown Phoenix

[Source: Phoenix Business Journal]

The Phoenix Jobs Corps Center will host an employment fair Sept. 30 in downtown Phoenix.

Twenty-five employers will be at the job fair including Bank of AmericaSafeway MarketsFrito-LayUS AirwaysState Farm InsuranceU-Haul International, Manpower and state departments of Economic Security and Environmental Quality.

The expo starts at 9 a.m. and takes places 518 S. 3rd Street (map).

The Jobs Corps helps younger workers find jobs, but this career event is open to the general public.

The tough labor situation in the Valley has resulted in large crowds at jobs fairs. In addition, employers have been seeing huge numbers of applications and resumes put in for available positions.

For more info: phoenix.jobcorps.gov

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Bank of America moves to foreclose on Viad Tower in midtown Phoenix

[Source: Ken Alltucker, Arizona Republic] — A lender is seeking to foreclose on the Viad Corporate Center, a high-rise office tower on Central Avenue in Phoenix, the latest example of the region’s commercial real-estate woes.  Bank of America has asked a Maricopa County Superior Court judge to appoint a receiver for the signature tower at 1850 N. Central Ave.  The lender said the building’s owner has not kept current since December on a $65 million loan.   A spokesman for Costa Mesa-based real-estate investment firm McCarthy Cook & Co., the building’s owner, declined to comment on the lender’s action.

The ownership group, MCC/I&G Viad Office Tower Owner LLC, acquired the 478,000-square-foot tower near the height of the Valley’s real-estate boom in 2006 for about $105 million.  At the time, the office tower was nearly full.  Yet occupancy has dipped to less than 80 percent with significant leases expiring next year.

BofA said in court documents that, since December, the building’s owner has not paid interest, tax and insurance escrows, late charges and other fees.   Viad’s owners owed more than $3.9 million in back payments and fees as of January.   With BofA seeking an accelerated repayment per the loan’s terms, the debt has escalated to over $81.2 million in principal, fees and other costs, the lender said in court documents.  BofA wants the court to appoint San Diego-based Trigild Inc. as the building’s receiver.  Trigild specializes in distressed-property management, receivership and loan recovery.   [Note: Read the full article at Bank of America moves to foreclose on Viad Tower in midtown Phoenix.]

Business Facilities magazine calls Phoenix “City of the Future”

[Source: Jenny Vickers, Business Facilities] — Strategically positioned in the Southwest, the Greater Phoenix area is one of 10 U.S. markets projected to experience 85% of the nation’s growth over the next 35 years.  Greater Phoenix, which consists of the City of Phoenix, much of the rest of Maricopa County, a large section of Pinal County, and small parts of southern Yavapai County, currently is the 13th largest area in the United States, with an estimated population of four million.  The City of Phoenix is the largest state capital in the U.S. in terms of population and is the only state capital with a population of more than one million.

With a labor force of over two million people, Greater Phoenix is known as a business and innovation hub with international access for aerospace, high-tech, bioscience, advanced business, and sustainable technologies companies.  Currently, over 20 major Fortune 500/1000 companies are located in Phoenix, such as Allied Waste, AT&T Inc., Bank of America, Boeing, Google, Morgan Stanley, and Wells Fargo.  Honeywell’s Aerospace division is headquartered in Phoenix, and the valley hosts many of its avionics and mechanical facilities.  Intel has one of its largest sites in the city, employing about 10,000 employees.  Businesses are easily connected to the region, nation and the world with two major airports — Sky Harbor International Airport and Williams Gateway Airport – and a new light-rail system being launched in December 2008.  [Note: To read the full article, click here.]

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