Commercial Real Estate & Business News June 26, 2019
Retail Sales Increase in May; April Sales Revised Higher Shoppers ramped up their spending in May. And April sales were better than previously indicated. Retail sales rose 0.5% in May over the previous month and increased 3.2% year-over-year, according to the National Retail Federation (NRF). The NRF numbers, which exclude automobile dealers, gasoline stations and restaurants, […]
Commercial Real Estate & Business News June 25, 2019
Market Stat: Strong Absorption Keeps Industrial Fundamentals Steady in Phoenix Strong absorption continues to mitigate supply-driven pressure in Phoenix’s industrial market. Over the past 12 months, more than 6.5 million square feet of industrial space has been absorbed, and about 7.2 million square feet has delivered. Vacancies are hovering near 6.5%, well below the market’s historical […]
Commercial Real Estate & Business News June 24, 2019
Matrix Monthly Report: U.S. Multifamily Rents Rose $5 to $1,442 in May U.S. multifamily rents rose by $5 to $1,442 in May 2019, marking a $14 rise over the last three months, according to the latest Matrix Monthly report by Yardi Matrix. At the same time, year-over-year rent growth fell by 50 basis points, down to […]
Commercial Real Estate & Business News June 21, 2019
The Future of Housing Rises in Phoenix Armed with loads of cash and the latest in machine learning, investors are reshaping the $26 trillion market for U.S. residential real estate, starting in Phoenix, the petri dish for America’s housing experiments. At the edge of the city’s stucco sprawl, a beige, three-bedroom house with a gravel yard […]
Commercial Real Estate & Business News June 20, 2019
Loop 202 Extension Could Create New Phoenix Employment Corridor, Experts Say The 22-mile Loop 202 South Mountain Freeway extension could give Phoenix the opportunity to create an employment scene like Chandler has in the Price Road corridor, economic development experts said at a Valley real estate forum.Lori Collins, deputy economic development director for the city of […]
Commercial Real Estate & Business News June 19, 2019
Speed Bumps Ahead for Industrial Assets Don’t Diminish Investor Appetite Slowing economic growth, trade wars and a pipeline that is delivering new supply to the market may force investors to adjust return expectations for industrial properties, but it doesn’t appear to be putting much of a dent in buyer demand. Industrial has edged out multifamily as […]