Commercial Real Estate & Business News – January 25, 2016

Arizona recorded a strong year for job growth in 2015, according to data from the Arizona Department of Administration. The state added 65,700 jobs last year, good for a strong 2.5 percent growth. Total employment in Arizona hit 2.71 million last month. In year-over-year hiring, professional and business services led the way adding 18,100 new jobs, with education and health services adding 11,700. ADOA reports a net job gain of 65,800 jobs in December 2015 over the previous year… Read more »
After a record-setting 2014, apartment transactions hit new, lofty highs in 2015 as volume jumped 32%, to $150 billion, according to a new report from New York–based Real Capital Analytics (RCA). Strong sales of individual assets drove the increase in volume for the apartment sector as a whole in 2015, according to the report. The $5.3 billion Stuyvesant Town transaction was counted as an individual sale. But even without the mammoth deal, individual volume would still be up 22%… Read more »
GoDaddy founder, billionaire businessman and philanthropist Bob Parsons has one of the largest, most technologically advanced, full-service production studios under construction in Scottsdale. The 15,000-square-foot production studio, dubbed Sneaky Big Studios, will have the ability to film live broadcasts, commercials, website video content and TV/radio shows for Parsons’ many companies, as well as other agencies and companies interested in renting the space out… Read more »
“The upward trend in student enrollment we’ve witnessed in America’s colleges and universities for the past decade is expected to continue in 2016 and beyond.” That is according to Brice Willis, vice president of capital markets at Stonemont Financial Group. According to Willis, the National Center for Education Statistics projects steady growth in postsecondary enrollment through 2021. Additionally, he says, “there is apparent political motivation to make secondary education more affordable… Read more »
Predicting if and when Millennials will buy homes is a big money question for the real estate industry. A group of up-and-coming Millennial leaders from metro Phoenix shared their opinions Wednesday on how they and their peers view housing with more than 1,000 of Arizona’s top real estate executives at Urban Land Institute Arizona’s annual Trends Day conference… Read more »