Commercial Real Estate & Business News – January 23, 2015

Economy Watch: More Evidence of Apartments Still Having Long Runway

Any time a boom lasts more than a short while, the question naturally surfaces: How much longer can this go on? Doesn?t the party have to end sometime? All good times do come to an end, but in the case of the running boom for U.S. apartment properties, demographic data (demand) and development data (supply) are still on the landlords? side and likely will be for at least another decade, if not longer. In short, there are a whole lot of renters in the market or preparing to enter the market, which is the demand side; but not as much development as one would expect, considering that demand… Read more »

Investors Want Grocery-Anchored Centers, Urban Retail

Although grocery-anchored centers will continue to attract investor interest in 2015, the appetite for urban retail is growing. Additionally, experts expect investors to continue to broaden their horizons beyond primary markets to secondary markets… Read more »

Contractor Survey: Construction Job Growth Could Reach 10-Year High In 2015

Rising demand for private-market development projects should drive construction firm growth in 2015, according to an industry survey released today by the Associated General Contractors of America (AGC)… Read more »

Arizona Gains 63,300 Jobs in Over Last Year

Arizona employment grew 2.6 percent in December with a gain of 63,300 non-farm jobs over a year earlier. The 7,000 job jump over November was better than the typical post-recession month. The state’s unemployment rate continues to lag the national 5.6 percent rate, but it dropped to 6.7 percent for the month. That’s down from 6.8 percent in November and 7.6 percent a year ago. The state is still short, running about 25 percent fewer jobs than before the recession… Read more »

Arizona Labor Market Finished 2014 on an Upswing

Arizona employers added a net 7,000 jobs in December, ending 2014 with slow, steady growth that economists say might be a good sign for 2015. However, experts cautioned that last year’s closing numbers also must be weighed against continuing sluggishness in Arizona’s labor and housing markets, making it difficult to predict when the state’s economy will boom again… Read more »