Commercial Real Estate & Business News April 22, 2019

Global Investors Continue to Favor U.S. Markets Foreign investors generally remain confident in a strong economy, solid real estate market fundamentals and steady inflows of capital into U.S. real estate, according to the 2019 AFIRE International Investor Survey. The survey was designed and administered by AFIRE and the James A. Graaskamp Center for Real Estate at the Wisconsin School of…»

US Retail Sales Post Their Biggest Gain Since 2017
US retail sales recorded their biggest jump in 18 months in March, driven by sales of motor vehicles, petrol and clothing, which signalled consumers continue to support the economy.Headline retail sales rose 1.6 per cent month-on-month in March, the Commerce Department said on Thursday – the biggest monthly increase since…»

Mid-bay Product Represents Nearly Half of all Phoenix Industrial Construction
According to JLL’s Q1 Phoenix Industrial Market Report, the mid-bay industrial market now represents 42.1 percent of the Valley’s under construction industrial stock. The report points to a lack of product in the 50,000- to 200,000-square-foot size range as a driver of this new construction.”For many years, demand for Phoenix industrial space has centered around…»

State Jobless Rate Drops as Construction Boom Continues
The state’s seasonally adjusted jobless rate ticked down a tenth of a point in March in what, by all indications, was a pretty unremarkable report.On one hand, the state’s construction industry continues to boom, adding 2,800 jobs last month and 16,700 in the past year. That latter figure was enough to post a 10.8 percent year-over-year gain. But Arizona also lost…»

Microsoft Mysteriously Expands to 400 Acres in Goodyear, Arizona
Microsoft has added to its growing land holdings in Goodyear, Arizona, buying 147 acres for undisclosed purposes in the fast-growing Phoenix suburb that is popular for data centers.An entity of Chicago-based First Industrial Realty Trust Inc. sold the vacant land that is part of the 1,600-acre PV303 business park , north of Interstate 10 and west of Loop 303, for…»