Commercial Real Estate & Business News April 10, 2018

At a time when retail stores have been closing due to the “Amazon effect,” billionaire mall owner Rick Caruso says “Amazon has been great for retail.” “What (Amazon has) shown us is a path to success,” the owner of The Grove and The Americana malls in Los Angeles told CNBC’s “Squawk Alley” on Monday. “Competition just on price doesn’t work. You have to compete on knowledge…»
The Dodge Momentum Index moved 6.1 percent higher in March, rising to 155.0 (2000 = 100) from the February reading of 146.0, Dodge Data & Analytics reported on Friday. The index is a monthly measure of the first report for nonresidential building projects in planning, a metric that leads construction spending for nonresidential buildings by a full year…»
Homebuyers in the grip of a tightening housing market have yet more cause for concern: Against the backdrop of higher mortgage rates, new data shows that rental rates continue to climb. Real estate platform reported that rents in February increased by an annualized 2.8 percent, the fastest growth rate in nearly two years. The median rent nationwide is now $1,445, and renters are squeezed on both ends…»
Phoenix homes are overvalued. That’s according to the latest CoreLogic Home Price Index, which this week pegged Phoenix’s housing market as one of many across the country as being overvalued. From February 2017 to February 2018, home prices in Phoenix grew 6.7 percent. The biggest reasons for the assessment seem to be population growth…»
Brydant Real Estate will break ground April 17, 2018 at 9:30 a.m. on its development, 19th Avenue Business Park, a 102,960 SF industrial building in Deer Valley. The projected completion date is September 2018. The project is located at 24400 N. 19th Ave and will be anchored by Today’s Patio, which is relocating its headquarters, warehouse, and showroom into 75,000 SF with the remaining 27,100 SF available for lease…»