2014 was a banner year for the U.S. shopping center industry, with surging occupancy rates and strong growth in rents and net operating income (NOI), according to research from ICSC and NCREIF. “Record growth in key indicators such as occupancy and NOI strongly indicate a healthy outlook and further underline the ability of the industry to innovate to fit the needs of today’s consumer”… Read more »
Researchers are now painting most national office markets as heading out of recession and into recovery. Due to high demand for space and tight supply conditions, owners are taking control back from tenants, signaling a warning sign for occupiers that rents will likely increase in the next few years. For example, a recent report by commercial real estate services firm CBRE shows that since the recession, new demand and strong absorption have made the sector a good investment… Read more »
Hotel owners plan to spend hundreds of millions of dollars upgrading Scottsdale and Paradise Valley’s already-impressive resort lineup, including one proposal that would give Arizona a third Ritz-Carlton property. Four major projects in the works include the Paradise Valley Ritz, an expansion at the Fairmont Scottsdale Princess…Read more »
The primary regional retail, employment and recreation hub for the master-planned community Verrado is on the drawing boards for Buckeye. The 140-acre commercial and mixed-use project is called the Marketside District, which will be built on the southern edge of Verrado north of the I-10 freeway at the intersection of Verrado Way and McDowell Road… Read more »
The yearlong streak of robust monthly job creation was broken on Friday with the Labor Department’s report that employers added just 126,000 workers in March, a marked slowdown in hiring that echoed earlier signs that sluggish business investment and punishing weather were exacting a toll on the economy. Analysts blamed the plunge in oil prices as well as the pall cast by a difficult winter across the Northeast and Midwest… Read more »