Commercial Real Estate & Business News June 4, 2018
U.S. Unemployment Rate Fell to 3.8% in May; Economy Added 223,000 Jobs The Labor Department released its official hiring and unemployment figures for May on Friday, providing the latest snapshot of the American economy. 223,000 jobs were added last month. Wall Street economists had expected an increase of about 190,000, according to Bloomberg. The unemployment rate […]
Commercial Real Estate & Business News June 1, 2018
TruAmerica Joint Venture Pays $75.1M for Tempe Apartments A joint venture between TruAmerica Multifamily and funds managed by Oaktree Capital Management L.P. paid $75.1 million for a Tempe apartment complex. The 424-unit Galleria Palms, 1600 W. La Jolla Drive, is near U.S. 60 and Interstate 10 in an area seeing unprecedented job growth. Tyler Anderson, Sean […]
Commercial Real Estate & Business News May 31, 2018
CRE Defies Rising Tide of Global Debt Levels The International Monetary Fund (IMF) has been sounding warning bells about the high levels of global debt. But U.S. commercial real estate has been defying that trend, which could make the sector even more attractive as a “safe haven” for global capital.…» EXCLUSIVE: Scottsdale Developer Bringing $50M […]
Commercial Real Estate & Business News May 30, 2018
Phoenix, Buckeye Among Fastest-Growing Cities in U.S. Two Arizona cities were among the fastest-growing in the nation in 2017, according to population estimates released Thursday by the Census Bureau. The bureau’s “2017 City/Town Population and Housing Unit Estimates” said Phoenix saw the second-biggest increase among cities in nation, adding 65,852 new residents over the course of the […]
Commercial Real Estate & Business News May 29, 2018
Fed Changes Tune on Raising Interest Rates this Year Many experts have been more bullish in their approach to increases to the federal funds rate in 2018, forecasting a total of four rate hikes for the year. Last year, experts even predicted the President Donald Trump’s selection for Federal Reserve Chair wouldn’t matter – the […]
Commercial Real Estate & Business News May 25, 2018
Does Phoenix Need More Co-Working Space? If Phoenix wants to establish itself as a bona fide tech market, more co-working space would probably be a good start. Google, Apple and Microsoft were once fledgling companies based out of garages. But today they might have started off in a co-working space like Uber, Instagram and Indiegogo […]