Commercial Real Estate & Business News – December 13, 2017

Providing more evidence of a strengthening economy, Associated Builders and Contractors’ (ABC) Construction Backlog Indicator (CBI) set a record as it expanded to 9.45 months during the third quarter of 2017, up 9.8 percent from the second quarter to the longest backlog reading in the eight-year history of the series. CBI is up by 0.8 months, or 9.2 percent, on a year-over-year basis…»
The manufacturing sector expects to more growth, capital spending and hiring in 2018. That is according to the latest industry survey by the Tempe-based Institute for Supply Chain Management. ISM surveys manufacturing and other executives on their sentiments toward growth, spending, hiring and the overall economy. Those results often drive financial markets…»
The transaction will include four data centers in Phoenix and Scottsdale, Arizona; Edison, New Jersey; and Columbus, Ohio. The buildings total 728K SF and provide 62 megawatts of capacity with the possibility of further expansion into Arizona and New Jersey. “We continue to experience strong demand and growth in our data center business, with a focus on establishing a presence…»
Tax Abatement and Upside Potential Should Attract Value-Added Investors to Ten01 in Tempe. A 10-year-old Phoenix-area apartment complex hitting the sales block comes with an attractive tax break and some potential upside for the next owner. Ten01 on the Lake in Tempe, AZ is a 523-unit, garden-style complex that is approximately 95% occupied…»
Arizona State University plans to move the Thunderbird School of Global Management from Glendale to the downtown Phoenix campus. Three years ago, ASU signed a final agreement to take control of the school, which had been struggling financially after decades as a private, nonprofit university that specialized in international business programs…»