Commercial Real Estate & Business News December 11, 2019
CoStar Economy: About That Surprisingly Good Jobs Report That sound you hear is the furious scribbling of economists revising down their forecast for recession. Two weeks ago we wrote that there may be some troubling signs of slowdown in the jobs market. Nearly everything since then has suggested otherwise. Employers hired a net 266,000 employees in […]
Commercial Real Estate & Business News December 10, 2019
CoStar Economy: About That Surprisingly Good Jobs Report That sound you hear is the furious scribbling of economists revising down their forecast for recession. Two weeks ago we wrote that there may be some troubling signs of slowdown in the jobs market. Nearly everything since then has suggested otherwise. Employers hired a net 266,000 employees in […]
Commercial Real Estate & Business News December 9, 2019
Hilo Tempe Apartments’ Plan to Ban Tenants Under 21 Raises Legal Concerns The Hilo Tempe apartments, a planned development located on the corner of Mill Avenue and Seventh Street, has proposed to restrict renters under the age of 21. Concerns have been raised about whether or not the age limit will interfere with Tempe’s anti-discrimination ordinance. […]
Commercial Real Estate & Business News December 6, 2019
Sumitomo buys Collier Center in Downtown Phoenix Sumitomo Corporation of Americas (SCOA) announced today their purchase of the Collier Center, a 2.8-acre commercial complex located in downtown Phoenix, Arizona. Eastdil Secured brokered the deal for an undisclosed amount. This is SCOA’s second commercial real estate investment this year, having acquired SPS Tower in Minneapolis this past […]
Commercial Real Estate & Business News December 5, 2019
Parking Lots, Once Asphalt Wasteland, Become Golden Opportunities As the lure of urban living pulls more residents from the suburbs, developers are scooping up prime real estate in downtowns across the United States. Soaring property values have created opportunities for owners of an overlooked, underdeveloped asset: the surface parking lot. Sales of such lots have risen […]
Commercial Real Estate & Business News December 4, 2019
California Industrial Developer Continues Phoenix-area Building Spree Majestic Realty Co. has closed on 30 acres of land near Loop 202 in southwest Phoenix where it plans to build a commerce park totaling more than 500,000 square feet. The site at 55th Avenue and Lower Buckeye Road is near the Loop 202 off-ramp that is scheduled […]