Commercial Real Estate & Business News – February 5, 2018

U.S. Added 200,000 Jobs in January; Unemployment at 4.1 Percent
Another month, another solid jobs report. The pace of job growth has slowed somewhat over the last two years, but the economy is still adding jobs at about 2 million a year – a solid figure at a time when the unemployment rate is so low. January marks the 88th straight month of job growth, the longest such streak on record…»

Push is on for Another Arizona Super Bowl
The push is on to bring the NFL Super Bowl to Arizona for a fourth time. The National Football League has Super Bowls slated for 2019 through 2022 with games in Atlanta, Miami, Tampa and a new stadium being built in Los Angeles…»

Phoenix Rising Soccer Team Wants to Build New MLS Stadium on Salt River
The Phoenix Rising FC soccer team wants to build a new Major League Soccer stadium on the Salt River Pima Maricopa Indian Community land. Phoenix Rising already plays in a temporary 6,200-seat stadium on the Salt River reservation near McClintock Road and Loop 202…»

ASU Plans to Renovate Wells Fargo Arena and Build New Hockey Venue
Arizona State University unveiled preliminary plans this week for a $160 million renovation of Wells Fargo Arena with an adjacent indoor sports complex to house men’s hockey, wrestling and gymnastics…»

Nonresidential Construction Maintains Momentum
Nonresidential construction spending expanded 0.8 percent in December, totaling $720.4 billion on a seasonally adjusted basis, according to Associated Builders and Contractors’ (ABC) analysis of data released today by the U.S. Census Bureau. This represents the fifth consecutive month during which the pace of nonresidential spending has increased…»