UPI NewsTrack Business (UPI)
U.S. markets lower Monday ... In global crisis, money stays home ... Swedes may help resolve Ukraine's gas bill ... Commercial properties face bursting bubble ... News from United Press International.

Commercial parking lots approved for South Beach residential areas in Fort Pierce (Fort Pierce Tribune)
The City Commission gave final approval Monday night to allowing commercial parking lots to be built in certain residential areas on South Beach, despite objections from some residents.

Report: Tough commercial real estate market will linger (BizJournals)
Grubb & Ellis Co. on Monday released its 2009 global forecast that predicts a troublesome year for commercial real estate in the U.S., including Greater Sacramento.

High office building vacancies may mean trouble for banks (New London Day)
Vacancy rates in office buildings exceed 10 percent in virtually every major city in the country and are rising rapidly, a sign of economic distress

Allied Properties Real Estate Investment Trust Announces Normal Course Issuer Bid (Marketwire via Yahoo! Finance)
Allied Properties REIT announced today that the Toronto Stock Exchange has accepted its notice of intention to conduct a normal course issuer Bid to enable it to purchase up to 3,003,667 of its 31,235,668 outstanding units, representing approximately 10% of the REIT's public float of 30,036,674 Units as of December 23, 2008, pursuant to TSX rules.

Hot Properties for Jan. 5 (Charleston Regional Business Journal)
Each Monday, Hot Properties highlights recently sold or leased properties in the Charleston region. Submissions should be sent to dailyjournal@charlestonbusiness.com .

Industrial park could create economic opportunities (Eastern Arizona Courier)
A proposed light-industrial park on Safford’s east side will allow the city to market itself across the United States and will create opportunities for local companies to expand, Safford Community and Economic Development Director Pete Stasiak said.

More empty office space bodes poorly for banks (Pioneer Press)
Vacancy rates in office buildings exceed 10 percent in virtually every major city in the country and are rising rapidly, a sign of economic distress that could lead to yet another wave of problems for troubled lenders.

Grubb & Ellis Predicts a Challenging 2009 for Commercial Real Estate as Economy Weathers Recession (PR Newswire via Yahoo! Finance)
Grubb & Ellis Company , a leading real estate services and investment firm, today released its 2009 Global Real Estate Forecast, which indicates that 2009 will be a challenging year for commercial real estate with the economy starting the year 13 months into what may become the longest recession since the 1930s.