Commercial Real Estate & Business News September 21, 2018
Phoenix GDP Growth Shows Expanding, Diversifying Economy The Phoenix metropolitan area’s gross domestic product grew 3.4 percent during 2017, ranking the area 55th out of 387 areas studied for growth in the year. The GDP of the area has grown consistently since 2013, and experienced a 2.3 percent increase in 2016, according to data from […]
Commercial Real Estate & Business News September 20, 2018
Is Adaptive Reuse the New Normal? Adaptive reuse can be an attractive consideration in the ever-changing commercial real estate environment for a number of reasons: rotating market demands in sectors such as retail, interactive office, health care and life sciences; changing demographics like a dearth of office tenants and increasing residential demand; or a desire […]
Commercial Real Estate & Business News September 19, 2018
South Scottsdale, Salt River Community Gain Steam for Commercial Development As SkySong, the Arizona State University Scottsdale Innovation Center, continues to redevelop the former Los Arcos Mall site, city and business leaders are looking at the project as a catalyst to breathe new life into the rest of south Scottsdale. Some housing experts already called […]
Commercial Real Estate & Business News September 18, 2018
The Retail Market in Phoenix is Bouncing Back in 2018 Retail rent growth is slowing nationwide this year, but it is accelerating throughout Arizona’s Valley of the Sun. As the third quarter draws to a close, the average retail rent in Phoenix has grown by more than 4 percent year-over-year. The market’s resurgence has led […]
Commercial Real Estate & Business News September 17, 2018
Where Are Baby Boomers Retiring? Don’t Look Far Baby boomers are still moving to Arizona to retire, despite predictions they wouldn’t. Members of the huge demographic group have vowed they wouldn’t spend their leisure years the way their parents did. But census data and new rankings show they are ending up in many of the […]
Commercial Real Estate & Business News September 14, 2018
Retail Investment Activity Ticks Up in 1H18 Retail investment activity is ticking up, slowly. In the first half of the year, investment activity increased 3% nationally, over 2017, and the second quarter alone increased 41% year-over-year, according to research from Newmark Knight Frank. The Western US has lead the increase in activity, increasing 33% year-over-year […]