Commercial Real Estate & Business News – December 30, 2015

Did a last-minute rush make for stronger holiday sales than many — including the National Retail Federation — had expected? That’s the way it looks based on the MasterCard Spending Pulse report, which found that sales (excluding auto and gas) increased 7.9% during the holiday season, led by double-digit gains in e-commerce, women’s apparel and furniture… Read more »
The Consumer Confidence Index rose to 96.5 from November’s upwardly revised 92.6, the Conference Board said. That’s below October’s 99.1 and September’s 102.6. Americans were more upbeat about current conditions and the future in December. They were slightly less positive, net, on business conditions now and in the future. But they were less pessimistic about jobs… Read more »
The Chandler Office Center near the southeast corner of Arizona Avenue and Buffalo Street sold to Typerion Partners last week for $17 million, or $163 per square foot. The asset was purchased from Travelers Insurance Companies with no debt recorded… Read more »
When metro Phoenix edged back to pre-recession job levels recently, it joined a big club. Forty of the nation’s largest markets beat Phoenix there, with some of them filling their job hole years ago. It’s worth considering just how poorly Arizona’s two biggest markets, Phoenix and Tucson, have done in recovering jobs after the Great Recession… Read more »
Steady job growth, low mortgage rates and tight inventories helped spur rising home prices in October, and a stronger job market lifted consumer confidence in December, separate reports showed on Tuesday. The Standard & Poor’s/Case-Shiller 20-city home price index rose 5.5 percent in the 12 months ending in October, up from a 5.4 percent pace in September… Read more »