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Commercial Real Estate & Business News – August 15, 2017

PHOENIX – Almost everywhere you look around the Valley, jobs are on the rise. In fact, the University of Arizona Economic and Business Research Center says, “the state continues to outpace the nation in job creation.” The Valley added 60,200 jobs in 2016. Thousands of them were in the healthcare and bioscience sectors, where jobs are growing three times the national average. This is thanks, in part, to incentives from the state and cities, including Phoenix…»
Current supply and demand trends in the U.S. multifamily and single-family markets are sending some confounding signals to investors. On the one hand, U.S. apartment construction has reached a post-recession peak, driven by demand for high-end luxury properties in the largest CBDs. On the other hand, both multifamily and single-family housing stock remain well below long-term averages that are not nearly enough to house the millions of millennials now entering their 30s and starting families…»
With all the talk about aging baby boomers and life-extending health care advances, it might be a bit bewildering deciding which seniors housing assets are best primed for success. Lee Everett, managing consultant at research firm CoStar Portfolio Strategy, might be able to provide some clarity. Two product types-active adult communities and continuing care retirement communities (CCRCs)-will be the winners in the seniors housing race both in the short and the long term…»
Commercial real estate lending in the United States continued to grow in the second quarter, led by a surge in commercial mortgage-backed securities (CMBS) mortgages, according to the latest research from CBRE. Despite an increase in short-term interest rates by the Federal Reserve in June, capital markets remained favorable in the second quarter, with rising equity prices, tight spreads, and limited volatility…»
Back in the depths of the Great Recession, Maricopa was in the national spotlight for all the wrong reasons, including being dubbed “A Paradise Lost” by the Wall Street Journal due to all the abandoned home developments. Now this booming city of 50,000 is once again the state’s fastest growing community, and also boasts one of Arizona’s highest average incomes. But all that residential growth has come at a high cost to the City of Maricopa…»