Commercial Real Estate & Business News – April 1, 2015

The Arizona Center for Law and Society, to be the new downtown Phoenix home of Arizona State University’s Sandra Day O’Connor College of Law when it is completed next year, was ranked No. 1 when the Phoenix Business Journal today published its annual Valley Construction Projects list… Read more »
Multifamily managers are saving a little money on paint these days, thanks to low turnover. Apartment renters are becoming more likely to renew their leases, and less likely to move out—partly because people in the U.S. are less mobile than in previous years. Declining mobility worries economists because matching certain jobs with qualified workers is more difficult if those workers live in the wrong places. Mobility has been falling in the U.S. for years…Read more »
Arizona’s employment gains in February put the state in the top 20 for job growth last month, according to the Bureau of Labor Statistics. The state’s 2.8 percent job growth placed it 14th among states for job growth by percentage, even while the 71,900 total jobs created was 13th highest last month… Read more »
Pending home sales in February increased to their highest level since June 2013 as sizeable gains in the Midwest and West offset smaller declines in the Northeast and South, according to the National Association of Realtors. The Pending Home Sales Index, a forward-looking indicator based on contract signings, rose 3.1 percent to 106.9 in February from a slight… Read more »
The real estate adage, “retail follows rooftops” is a simple way to explain the demand for commercial services when a residential community is established or emerges. Despite the seemingly obvious relationship between residential and commercial real estate, many view the two as entirely different worlds. However, in Phoenix metro residential and commercial markets are especially interconnected… Read more »