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Commercial Real Estate & Business News August 19, 2019

Strong Apartment Performance and Low Interest Rates Draw Buyers to Phoenix Corporate expansions continue to drive in-migration as companies and job seekers seek refuge from the high costs found in other major metros. Allstate Insurance is building a new corporate campus that will provide employment for approximately 2,500 people. Other companies like Voya Financial and Nationwide Insurance have…»
Will 2019 Set a Record for Industrial Real Estate Sales?
The current high price tags for industrial real estate don’t seem to be discouraging investors. While total investment sales volume in the sector decreased year-over-year in the second quarter, individual asset sales were up 2.7 percent over the second quarter of 2018, according to a report from real estate services firm CBRE. Total sales…»
Affordable Housing Coming to Downtown Phoenix Opportunity Zones
The growing need for affordable housing near Downtown Phoenix is being addressed by three apartment projects that combine affordability with amenities. Pacific Oak Capital Advisors, a national leader in institutional-quality alternative investments, and Defer Gain, a leading Arizona-based real estate development company specializing in…»
The Dichotomy of Millennial Housing
“Millennials are moving to the extremes when it comes to multifamily housing preferences, and developers should begin to take note,” Gary Bechtel, president of tech-enabled commercial real estate lender Money360, tells GlobeSt.com. Bechtel has seen shifting housing demand in the market among millennial and gen-Z renters, with…»
Private Sector Employment Up 3 Percent Year-Over-Year in Arizona
Continued talk of a trade war hasn’t dampened the state’s job growth, at least not yet. New figures from the Arizona Office of Economic Opportunity show the state did lose 4,900 private sector jobs in July. But that’s far less than typical for this time of the year, with the post-recession average showing Arizona shedding 8,200 jobs in…»