Commercial Real Estate & Business News – August 18, 2015

Arizona Consumers Feeling Best Since Downturn Began in 2007

An improving job market has helped push Arizona?s consumer confidence back to pre-recession levels, a new survey has found. The latest measure shows the state?s attitudes lag the nation?s more optimistic sentiment, and Arizona?s good feelings are concentrated in Maricopa County. Still, the highest statewide reading in eight years is another sign that the public has put the Great Recession behind it… Read more »

Arizona’s Apartment Construction Wave has Crested

Arizona?s multi-year wave of new apartment construction has crested. There were 8,568 construction permits for new multifamily construction projects taken out in May, according to the most recent data from the state?s Joint Legislative Budget Council. That is down 2.9 percent from May 2014, according JLBC which tracks economic and fiscal indicators. For the year so far, apartment construction permits are up 8 percent vs. the same time frame in 2014… Read more »

What the Falling Yuan Will Mean for U.S. CRE

China?s surprise currency devaluation this week could be a net positive for U.S. commercial real estate capital flows and cap rates, but a mixed bag for the U.S. economy. When the world?s second largest economy and largest exporter surprises investors with an overnight currency devaluation, investors are likely to increasingly seek out safe-haven assets, including U.S. real estate… Read more »

High-Paying Jobs Outpacing Others in Recovery

A new study concludes that high-paying jobs have grown the fastest in the economic recovery, casting doubt on the widespread lament that low-wage jobs have dominated payroll growth since 2010. The report, by Georgetown University’s Center on Education and the Workforce, says its findings are more accurate than prior analyses that cite a prevalence of low-paid jobs because it evaluated occupations rather than industries… Read more »

Joint Venture Brings New Industrial

Joint venture partners, Conor Commercial Real Estate, a member of The McShane Companies, and Globe Corporation, announce the acquisition of a 16-acre land parcel for the development of AZ|60?a new two-building, 225,600-square-foot industrial project. Available for-sale or lease, the speculative facilities will offer modern design and flexible configurations to meet the growing demand within Gilbert?s booming industrial sector… Read more »