Commercial Real Estate & Business News – January 9, 2018

December’s solid employment gains capped off a year marked by rising consumer confidence, discretionary spending and better-than-expected holiday sales – even as robust wage growth remained elusive. “The job market’s done well and people feel they can actually move jobs now – that just kind of snowballed,” said Dwight Johnston, chief economist for the California Credit Union League. “It was a good year last year”…»

2017 will go down as one of metro Phoenix’s best-ever years for home sales. An early tally shows 93,500 Valley houses changed hands last year. That’s 6 percent higher than home sales in 2016…»

Tempe has come in at the top of the table for growth in 2017. That is according to a new report by U-Haul International. Tempe – which is home to Arizona State University – replaces another college town, Madison, Wisconsin atop the U-Haul growth list…»

Avesta Communities has purchased a 320-unit apartment community in Chandler, Ariz. According to Yardi Matrix, Coronado Crossing traded for $57.7 million, paid in cash…»

Jevan Capital has acquired La Mirada, a 300-unit apartment community in Phoenix. The all-cash, $15 million transaction finalized after a year of negotiations with HOA, which decided to sell the property in bulk. Jevan owns six other apartment communities in the Phoenix metro…»