Commercial Real Estate & Business News – July 13, 2017

PHOENIX – Big companies hired more people in the Phoenix area during the first half of 2017 than the same time period last year, a report released Monday said. Commercial real estate firm CRBE said it tracked 49 Phoenix hiring announcements during the first six months of this year. “That totaled 11,440 jobs,” CRBE spokeswoman Jessica Glick said. “Compared to the same period last year – the first half of 2016 – we measured 40 company announcements that measured 6,700 jobs.”…»
According to a recent report from ABODO, cities where rent was already high-New York, D.C., Los Angeles-are still high, but the most notable rental increases are in growing markets in the South and Southwest. Each month, ABODO releases reports aimed at taking the pulse of the American rental market: cities experiencing the greatest increase (and decrease) in rent, cities with the highest rent, and how individual markets compare to the national average…»
Arizona’s highest rent prices can be found here in the Valley. It’s not that surprising, right? After all, the state capital and the surrounding areas are home to Arizona sports teams, renowned restaurants, bustling nightlife and music venues. Additionally, big national companies like Intel, Insight and JPMorgan Chase operate out of the Valley and tech companies are migrating to join them. To accommodate that, more homes are being built in the Valley now that in the last ten years…»
Things move quickly in Arizona. In July 2016, when I wrote an op-ed for the 10th anniversary of CNBC’s America’s Top States for Business series, I talked about how our state is slashing red tape and embracing the new economy. What a difference a year makes. Since then, Google began offering Arizonans rides in their own self-driving Waymo vehicles. Airbnb hosts in our state earned more than $50 million throughout the year…»
Warren Buffett is betting that some types of brick-and-mortar real estate will hold up better than others in the age of Amazon. His Berkshire Hathaway Inc. took a 9.8 percent stake in Store Capital Corp., sending shares of the real estate investment trust surging Monday. Unlike other retail landlords that have come under pressure as consumers shop more online, Store focuses on service properties: preschool facilities, health clubs, dine-in movie theaters and pet-care sites…»