Commercial Real Estate & Business News – February 19, 2015

The CRE Bar Is Set High for 2015

As we assess market conditions across the globe today we can hold our heads high and thank last year?s momentum for this year?s potential. A positive foundation has been laid. Economic indicators look good, leasing is robust, new deliveries are set to be 25 percent above last year and prospects for even larger construction volumes are expected for 2016… Read more »

What Renters Want: Affordability Becoming Major Concern

As rents continue to rise across the country, tenants are prioritizing affordability and looking for ways to save. A new survey from suggests that tenants are feeling the crunch of rising rents… Read more »

What the Numbers Say About Arizona’s Tech Sector (Hint: It’s Good News)

Not a day goes by that I don’t look into the eyes of someone who represents the success of Arizona’s technology community: a company leader excited about the next “great thing” his company is about to unveil, a researcher whose hard work will make our lives better, a child celebrating the “aha” moment when a STEM lesson takes hold… Read more »

Super Bowl Generates Record Revenues for Hotels

According to Smith Travel Research, revenue per available room (RevPAR), a key indicator of hotel performance, spiked at $324.87 for metro Phoenix on Jan. 31, the day before the Super Bowl. That?s the highest RevPAR ever recorded for metro Phoenix?s hotels for a single day, and represents a 318 percent increase over the same day in 2014… Read more »

Apartments, Community Space Coming to Arts District

An arts-inspired apartment complex coming to McDowell Road plans to turn a sluggish hotel surrounded by museums and theaters into a neighborhood destination. Broadstone Arts District is slated for nearly five acres off McDowell and Alvarado Roads, east of the Phoenix Art Museum and Phoenix Theatre. The two, four-story buildings will include 280 studio, one and two-bedroom apartments for about 400 residents… Read more »