Commercial Real Estate & Business News April 25, 2018

Tempe and Chandler have consistently been the busiest submarkets for office construction over the past several years. Financial and tech companies are driving demand for modern office space as they position themselves near a young and growing workforce. About 1.1 million square feet of office construction is underway in Chandler, and nearly 800,000 square feet is in Tempe’s pipeline. Both submarkets have several things in common.…»
Freedom Financial Network is hiring 1,000 employees this year as it expands in Tempe. The San Mateo, California-based company hired 1,000 last year and is on track to employ 3,000 by early next year, said Linda Luman, senior vice president of human resources for Freedom Financial Network, which provides debt relief, personal loans and other financial services. The company just moved into a 150,000-square-foot, four-story building at Rio2100.…»
Local and regional banks are making more loans on apartment properties, in some cases significantly more. In one surprising example, the busiest construction lender in the U.S. in 2017 was Bank of the Ozarks, according to Real Capital Analytics (RCA), a New York City-based research firm. “A smaller bank, it has established itself in a niche to take on larger assignments,” says Mitchell Kiffe…»
Computers, automation and artificial intelligence could eliminate or profoundly change one-third of all existing jobs in the Phoenix metro area in coming years, a new study warns. Lower-skilled positions held by women are especially vulnerable. Specifically, an estimated 649,000 jobs in metro Phoenix – about 35 percent of all current positions – are at high risk of being eliminated or fundamentally changed in coming decades.…»
NEW YORK (CNNMoney) — Home sellers are partying like it’s 2006. Real estate prices posted an annual gain of 6.3% in February, according to the latest S&P CoreLogic Case-Shiller Indices. On a national level, home prices are up 6.7% from their peak in July 2006, and have been rising continuously for the past 70 months. “It’s getting increasingly difficult to be a buyer,” said Keith Gumbinger, vice president of…»