Commercial Real Estate & Business News December 30, 2019

Arizona is the No. 2 Relocation Destination for Californians Americans are one of the most mobile nations in the world, according to a global study led by researchers at the University of Queensland, Australia. U.S. citizens ranked third in terms of cross-country mobility among the 60 countries considered in the research, and their appetite for moving and seeking a new relocation destination is surpassed only by that of the…»

Economist: 2020s Could Be Arizona’s Best Decade Ever
STEVE GOLDSTEIN: Arizona’s credit rating was upgraded by Moody’s Investors Service this month, thanks to a growing economy and recent budget policies that have built up a hefty rainy day fund. Governor Doug Ducey celebrated the announcement, saying in a statement the upgrade was “further validation that Arizona is going in the right direction and that smart…»

Economists: Arizona’s Economy Should Remain Strong in 2020
Arizona’s economy might be slowing, but two economists say the state should have a strong 2020.Lee McPheters, research professor of economics and director of the JPMorgan Chase Economic Outlook Center at Arizona State University, says the state is expected to add about 70,000 jobs in 2020. That’s compared with 74,000 in 2019 and nearly 79,000 in…»

Office Development Takes Off in Scottsdale, Arizona
More than 2.9 million square feet is underway in the Phoenix metropolitan area, with about 48% of the space available for lease. While cranes continue to fill the skyline of Tempe, Arizona, developers have turned their attention north, along the 101 to Scottsdale Airpark. About 731,000 square feet of office space is under construction in the submarket, accounting for…»

IREM-CCIM Economic Outlook Brings Together the Industry’s Best
The 13th Annual IREM-CCIM Economic Forecast, the premier real estate economic outlook each year, features one of the Valley’s top economic gurus, one of the Valley’s top education leaders and panels featuring the industry’s top experts. The event is scheduled for Friday, Jan. 17, 2020, at the Omni Scottsdale Montelucia, 4949 E. Lincoln Drive, Paradise Valley. Registration and…»