Commercial Real Estate & Business News July 30, 2018
How the US Economy is Doing Now in Four Charts While he was on the campaign trail, President Donald Trump promised to grow the country’s economy by more than 4% per year, a rate not seen since the mid-2000s. On Friday, his prediction came true. The government reported that gross domestic product grew at a 4.1% […]
Commercial Real Estate & Business News July 27, 2018
Phoenix Retail Space Absorption up 10% Over 2017 Net absorption of retail space in Greater Phoenix surpassed 500,000 square feet for the second quarter in a row, which signaled continued improvement for the market. Limited construction of new space and tightening vacancy forced rental rates up during the last three months. “The limited addition of […]
Commercial Real Estate & Business News July 26, 2018
Iconic Scottsdale Tennis Club Sells to The Wolff Company for Residential Healthcare Facility SCOTTSDALE, Arizona – The iconic Scottsdale Tennis Club, with 11 championship tennis courts and pool, will soon be redeveloped into Revel Scottsdale – a refined 159-unit senior community. The property will have 270-degree unobstructed views to the west, north, and east of […]
Commercial Real Estate & Business News July 25, 2018
‘Severe’ Housing Shortage Hits US home sales, Lifts Prices Sales of previously owned US homes fell for the third-straight month in June and prices struck a record high amid a “severe housing shortage”, according to data released on Monday. Existing home sales fell 0.6 per cent in June to an annualised rate of 5.38m units, according […]
Commercial Real Estate & Business News July 24, 2018
Spring Training Baseball Adds Big Money to Arizona’s Economy, Study Estimates Collectively, baseball fans pumped an estimated $373 million into Arizona’s economy from late February through the end of March, according to the more conservative of two Cactus League impact studies, both released by Arizona State University researchers on Monday. This year’s 233 spring-training games, involving […]
Commercial Real Estate & Business News July 23, 2018
Retail Sales Post Another Gain in June Consumers boosted their spending in June, a move that contributed to the fifth consecutive month of retail sales gains. Retail sales increased 0.07% seasonally adjusted over May, and 4.2% unadjusted year-over-year, according to the National Retail Federation. The NRF numbers exclude automobiles, gasoline stations and restaurants. Overall June […]