Commercial Real Estate & Business News – August 31, 2016

More good news for retailers and the landlords who lease to them: U.S. personal income increased $71.6 billion (0.4 percent) in July, according to the Bureau of Economic Analysis’ latest estimates. Going hand-in-hand with that, personal consumption expenditures (PCE, or people spending that money that they’ve made) increased $42 billion (0.3 percent) for the month…»
All eyes are on the Fed. We are seven years into an economic recovery, the fourth longest expansion in history, and the Federal Reserve has only managed a single rate hike…»
Being the lower cost option is just the start – It was great to see The New York Times headline “Bay Area Start-Ups Find Low-Cost Outposts in Arizona.” If you are even slightly involved in technology economic development in the state, this is the sort of national recognition you have been waiting for. Time to celebrate…»

Weidner Apartment Homes has surpassed the 10,000-unit mark of apartments owned in the Valley after spending $33.15 million to acquire the 191-unit @51 apartments located at 1651 E. Georgia Avenue in Phoenix. The seller was @51 Partners Arizona LLC, formed by Smithfield Properties and Helix Properties…»

A national real estate development firm is starting construction on the first office building at the planned 63-acre Gilbert Spectrum Business Park in the East Valley…»