Generally speaking, there is a long history of animosity between the press and real estate developers. In many a journo’s view, developers are right up there on the list of least-favored citizens along with lawyers.

Still, it isn’t every day that the press actually takes action and sues a developer, but such is the case right now in Austin, Texas.

I read with great interest a story over the weekend in one of the best darn newspapers left standing in America, the Austin American-Statesman. It turns out that Emmis Publishing, which owns Austin-based Texas Monthly magazine, one of the most highly decorated magazine properties in the country, is suing the developer of its new office building.

Forget for a moment that lenders foreclosed on the eight-story building, that’s a story for another day. In the here and now, TM moved into its new building just off I-35 last August, and much of the surrounding development promised by the developer has not happened, including a hotel and restaurants. This is just a wild guess, but I’m thinking the sour economy might have had something to do with those plans.

Anyway, I’m surprised we aren’t reading more about these types of situations, half-finished projects and unhappy tenants. Maybe we will…

Here’s the full story from the paper.

For crying out loud, who’s next? That’s what I find myself asking these days. Just when you think things in the U.S. economy might be turning around, wham, your instincts are shattered.

Two new announcements this week are proof positive of the state of things.

Benihana, one of my all-time favorite places to watch people play with knives and get away with it, announced that it is “exploring strategic alternatives,” which is just another way of saying “we’re going to sell ourselves to whoever might want to buy us, or we’re going out of business.” Period. Those are the only “alternatives” my friends.

Check out the formal statement:

MIAMI–(BUSINESS WIRE)–Benihana Inc. (NASDAQ: BNHNA; BNHN), operator of the nation’s largest chain of Japanese theme and sushi restaurants, today announced that its Board of Directors has decided to explore strategic alternatives available to the Company, including a possible sale, in order to maximize shareholder value.

Richard C. Stockinger, Chief Executive Officer, said “While the Company strongly believes in the renewal program and that significant progress has been made toward achieving its goals, the Company has also stated its intention to commence an expansion plan through restaurant development and/or acquisitions. However, growth would be predicated on raising additional capital, and the Company is reluctant to issue new equity at current price levels. Furthermore, several large shareholders have expressed disagreement with the Board and have indicated a desire to seek Board membership to pursue a change in the Company’s strategic direction.”

Mr. Stockinger concluded, “The combination of issues relating to raising new capital and the divergent views of these shareholders have made it extremely difficult for the Company to implement with confidence a growth plan that would include organic growth as well as acquisitions at this time. As a result, the Board has determined that the best course of action is to engage in a formal review of strategic alternatives available to the Company with the assistance of a qualified financial advisor, including a possible sale. The objective would be to enhance shareholder value, while also maintaining and furthering the strategies the Company has initiated.”

The Company does not intend to disclose developments with respect to the progress of its strategic review until such time as the Board has approved a transaction or otherwise deems disclosure appropriate.

A day earlier, another seeming stalwart firm (at least to me anyway), the owner of the Bugaboo Creek restaurant chain (I kid you not on the name), announced its own solicitation of “alternatives”:

MOUNTAINSIDE, N.J.–CB Holding Corp., parent company of Charlie Brown’s Steakhouse, Bugaboo Creek Steak House and The Office Beer Bar & Grill restaurants, today announced its engagement of investment banking firm Raymond James to assist it in its evaluation of strategic alternatives for its Bugaboo Creek Steak House brand. Bugaboo Creek Steak House was acquired in 2007 by CB Holding Corp.

“Bugaboo Creek Steak House, with its high standard of affordable hospitality and entertaining experiences, holds a unique and compelling position in the casual dining restaurant category. We remain passionately committed to our valued Bugaboo Creek Steak House customers and our restaurant employees while we evaluate the best strategic plans for the brand,” said Sam Borgese, president and CEO of CB Holding Corp.

Bugaboo Creek Steak House serves more than 3.5 million guests each year at its interactive and charming lodge setting restaurants. The brand consists of 30 restaurant units along the eastern seaboard and employs 1840 people.

Can anyone please tell me what on earth the world is coming to when a cool restaurant concept using motorized black bears, beavers and moose (is that plural?) can’t make it?

The signs of churn are all around us. Some days it’s two steps forward and others it’s one step back.

Is it just me or are commercial real estate transactions picking up steam? Several big office towers, for example, have traded in recent weeks in major metros.

A second major CMBS issue has now come to market in 2010, which is a promising signal that industry might be coming to life once again.

Even Ernst & Young issued a new report last week noting “The real estate market is starting to stir. The trends point to increased transaction volumes and varied activity in 2010, including a rise in loan sale transactions.”

Obviously the biggest concern is the jobs picture, which has more elevation changes than a roller coaster ride at Six Flags. One week they’re up, the next they’re down.

In many major markets, it’s a choppy scene at best. Take Dallas for example, where the DFW metro economy has improved of late, adding 3,400 jobs in the past year and where the unemployment rate dropped to 8.2% in April from 8.7% in January.

Unfortunately since CRE generally lags the economy, office absorption in the local market was a negative 550,000 sq. ft. and the vacancy rate shot up to 18.5% in the second quarter from 18% in the first quarter, according to Delta Associates, the research affiliate of Transwestern.

That didn’t stop CB Richard Ellis Investors from buying two high-profile office buildings in the local Preston Center market for a rumored $130 million, making it one of the largest sales in North Texas this year.

The DFW industrial scene is a different story, with 492,000 sq. ft. of absorption achieved in the second quarter and 836,000 sq. ft. of space occupied this year, compared to negative 1 million sq. ft. in the first half of 2009. That’s a vast improvement, but will it last?

It looks like those choppy waters are going to be around for just a tad longer.

In our never-ending search for what’s new, current and just plain fascinating, I found a new website that gives a look at the front pages of newspapers from around the world.

While I still have this ongoing debate with friends, family and fellow marketers and journalists about the death of the daily newspaper, they still provide a great snapshot of current events. That’s what they do best, especially when there is the type of global event like the BP oil spill and the dramatic stage show that is better known as a Congressional hearing.

Here’s the link.

Last week’s annual meeting of the National Association of Real Estate Editors (NAREE) in Austin was a confab to remember for several reasons.

At the sharp end of the good news was the major focus on the commercial real estate sector. There is no denying the numbers and the raw facts – the residential market is, oh, about a zillion times larger than the total CRE market. But due to more mainstream media reports touting commercial’s pending demise/collapse, being the economy’s “other shoe to drop,” etc. etc., reporters and writers are paying more attention to what’s happening in the world of offices, apartments, retail, hotels and industrial.

This year’s event featured many a panel with some top-notch CRE veterans, including Robert Bach with Grubb & Ellis, Mark Alfieri with Behringer Harvard, former HUD secretary and San Antonio Mayor Henry Cisneros, Bill Hoffman with Trigild, Arthur Pasquarella with BPG Properties and David Steinwedell with Stoneforge Advisors.

The conference also featured serious discussion about the future of media, both print and online. In that regard, I had the pleasure of moderating a panel discussion, entitled “New Journalism Lifeforms: Life after Newspapers,” which turned out to be an eye-opener for many attendees schooled in the traditional print media.

The panelists included three Texans of note who are approaching the online world in three totally different ways.

Evan Smith was the editor and president of one of America’s consistently best monthly magazines, Texas Monthly, for 18 years. But he said he became ready for a new challenge last year. So he launched an incredible new site called TexasTribune.org, which is quickly becoming the definitive news site for all things Texas.

Apparently it’s also successful from a financial standpoint as well. Smith noted that he’s already raised $5 million in funding from private individuals, foundations, and others. The venture is set up as a non-profit enterprise, and it features some of the hardest-hitting reporting you’ll find anywhere in the country.

Smith also used the occasion to announce what promises to be the first of many collaborative, investigative journalism endeavors with the few remaining major Texas newspapers, this time with the Houston Chronicle.  Check out the story here.

My good friend Tony Wilbert from Atlanta’s Wilbert News Strategies coaxed the quote of the conference from Smith in our Q&A session. Said Smith, “We believe journalists are professionals and should be paid like professionals.” That one deserved a standing “o”.

My other panelists included Clifford Pugh, editor-in-chief of CultureMap.com,  which is essentially a daily digital magazine covering all things Houston, including arts, entertainment, lifestyle and real estate. Pugh’s site has a more traditional business model featuring advertising and it is extremely content rich.

Last but not least was Glenn Smith, perhaps best known as a Democratic consultant and the head of Gov. Anne Richards’ successful run for the State of Texas’ highest political office back in 1990. His site, DogCanyon.org, is one of the last great bastions of online long-form journalism. Smith is an accomplished author and offers budding writers a much-needed national platform.

I’ve been meaning to write about this but waited until the time seemed more “right.”

For the uninitiated here’s the back story. Sandridge Energy, one of the largest oil and gas firms in Oklahoma, wants to expand its downtown Oklahoma City headquarters campus (the area formerly owned by Kerr-McGee) by tearing down several mid-rise structures and erecting a new building next to a park across the street. Here’s a link to an earlier story on the proposal.

That seems like a simple enough thing to do, right? A major corporate tenant should have the ability to do whatever it wants with its property as long as it’s within the boundaries of the law, correct?

However a funny thing happened on the way to the permit office. A huge and surprisingly vociferous brouhaha has broken out over one of the buildings set for demolition.

The India Temple, built in 1902, once housed the Oklahoma legislature, among other things, and is considered the city’s oldest building. Now that’s nice and all, but the problem is, nobody really noticed it and when they did, it was viewed with derision.

I attended the Christmas tree lighting in front of Sandridge’s headquarters tower next door to the India Temple in December and remember thinking what an eyesore it was. Many questioned why it was left standing.

So, I’ve been watching and listening to the discussion about this issue for the past month now. It’s been really entertaining really. But finally someone else has said what I’ve been thinking all along.

Click here to read Terry Clark’s new blog over at the Journal-Record on the matter. Way to go Terry.

To be sure, there will be several major story lines at the annual ICSC show, also known as RECon and still the largest confab of retailers and retail real estate folks on the planet.

There’s the ongoing saga of General Growth Properties’ emergence from bankruptcy. And whether Simon Property Group can find some interesting way to park its $7 billion in capital somewhere.

But to me, the overarching story line is more subtle, but nevertheless important.

Will the GGP team execs still be donning those neon-green blazers?

A new ranking of top local economies finds Oklahoma City in a much improved position for 2010. According to Palm City, Fla.-based Policom Corp., OKC jumped to 75^th from 97^th in 2008. But wait, the news gets even better. The rankings go back to 2004, when OKC was a lowly 183^rd, so the improvement is stark.

It’s also positive news compared to the recent movement in rankings for other cities. New York, for example, fell from 43^rd in 2009 to 62^nd in 2010.

The story is a little different for neighboring Tulsa, which saw its ranking fall to 142^nd from 139 in 2009. Tulsa fell from its best showing in 2004, when it was ranked 84^th.

Policom specializes in analyzing local and state economies, and annually ranks the 366 Metropolitan Statistical Areas and 576 Micropolitan Statistical Areas in the United States.

Seattle-Tacoma-Bellevue, Washington topped the annual list of top Metros for 2010, improving from 12^th in 2009, while Edwards, Colo. finished atop the heap among the so-called “Micropolitan” areas which are smaller urban centers.

“The top rated areas have had rapid, consistent growth in both size and quality for an extended period of time,” said William H. Fruth, Policom’s president. “The rankings do not reflect the latest ‘hotspot’ or boom town, but the areas which have the best economic foundation. While most communities have slowed or declined during this recession, the strongest areas have been able to weather the storm.”

The Policom study measures 23 different economic factors over a twenty-year period to create the rankings. The formulas determine how an economy has behaved over an extended period of time. Data stretching from 1989 to 2008 was used for this study.

NOTE: Ok, fair warning. This blog entry is not directly related to the commercial real estate industry, but you might see an interesting underlying, if not plain feel-good, message.

Even in these still somewhat troubled economic times, it’s nice to see glimpses that the entrepreneurial spirit that made America such a great place is still alive and well.

Take Lemonade Day. That was May 2, in case you missed it. I know I did, but here’s some info I found on the occasion:

HOUSTON–On Sunday, May 2, aspiring, young entrepreneurs launched 80,000 new businesses across the country through Lemonade Day 2010 (www.lemonadeday.org). With the help of the community, more than 160,000 youth in 14 U.S. markets participated in the free, nationwide event dedicated to teaching youth how to start, own and operate their own business through the simple, time-honored act of building and running a lemonade stand.

Some highlights from Lemonade Day 2010 include a Houston group of visually-impaired youth participating with the help of a Lemonade Day workbook in Braille and a group of Chicago urban youth who helped customize the workbook to be more relevant to their peers.

Started in 2007 by Houston entrepreneur and philanthropist, Michael Holthouse, Lemonade Day exists to infuse today’s youth with the spirit of enterprise, teaching the basic business & entrepreneurial skills necessary to become successful, contributing members of their communities.

“Lemonade Day is an experiential learning process that teaches youth what they aren’t learning in their classes or at home,” said Holthouse. “Lemonade Day breathes new life into today’s youth and inspires them to reach their true potential.”

This year was the first year the organization expanded beyond the Texas boundaries to 14 cities throughout the country. For a full list of cities that participated in Lemonade Day 2010, visit www.lemonadeday.org.

Lemonade Day plans to expand to several new markets in 2011 including Phoenix, Omaha and Louisville. The ultimate goal is to expand to 100 cities and have one million stands running on a single day in 2013.

About Lemonade Day:

Prepared 4 Life (P4L) is a non-profit organization dedicated to helping children positively impact their communities. Since 2007, Lemonade Day has been P4L’s number one educational priority – an annual, free, community-wide vehicle for introducing entrepreneurship to youth. Through the simple, time honored act of building and running a lemonade stand, participating youths will enjoy a sense of self-worth and empowerment while learning the value of earning a dollar in a fun way. By 2013, Lemonade Day hopes to expand to 100 cities and impact one million youth in a single day. For more information, visit www.LemonadeDay.org.

You just never know.

That was my reaction to events last week, when I happened to be in Atlanta (also known as “the ATL”). At dinner, who did I run into? One of the world’s greatest architects (and I mean of all time) and one of Atlanta’s favorite sons, John Portman.

For those who may not know the name or that famous face, Portman is credited with developing much of Atlanta’s downtown office space, and his Peachtree Center and Embarcadero Center in San Francisco were hailed as unique reinterpretations of the modern office environment. And he’s still designing properties around the world.

All I can say is, “wow.” He’s a living legend. And now I’m more convinced than ever, it really goes to show, you just never know.