Commercial Real Estate & Business News – February 17, 2015

NRF Forecasts Retail Sales to Increase 4.1% Over Last Year

The National Retail Federation released its 2015 economic forecast today, projecting retail industry sales (which exclude automobiles, gas stations, and restaurants) will increase 4.1 percent, up from the 3.5 percent growth seen in 2014. NRF also announced today it expects non-store sales in 2015 to grow between 7 and 10 percent. The 4.1 percent increase would mark the biggest annual growth since 2011 when retail sales for the year increased 5.1 percent… Read more »

BMO: Arizona Economy Will Accelerate in 2015

Arizona?s economy should pick up in 2015, with expected GDP growth of 3.5 percent, just ahead of the national average and an improvement from the expected 2.5 percent in 2014, according to the bi-annual U.S. State Monitor Report from BMO Economics. Steady population growth and job growth in the high-tech market will also help lead the state?s economic acceleration… Read more »

Market Trend: Phoenix Office Deliveries, Construction and Inventory

During the fourth quarter 2014, four Office buildings totaling 354,798 square feet were completed in the Phoenix market area. This compares to six buildings totaling 459,461 square feet that were completed in the third quarter 2014… Read more »

Arizona Ranked No. 10 in Nationwide LEED Ratings

Arizona placed 10th when the U.S. Green Building Council released its annual ranking of the Top 10 States in the nation for LEED, the world?s most widely used and recognized green building rating system… Read more »

Phoenix Home Prices Rose 5 Percent in 2014

The final numbers are out for 2014, and the median single-family-home prices in the Phoenix area officially went up 5.4 percent. That?s according to the latest monthly report from the W. P. Carey School of Business at Arizona State University… Read more »