Commercial Real Estate & Business News July 22, 2019

Phoenix Apartment Sales Up 20% For the Year The Phoenix apartment market is officially on fire. In the first half of the year, sales volumes for multifamily communities with 100-plus units increased 20% and represented $3.02 billion in total investment activity, according to research from CBRE that has seen exclusively. The investment activity is the capital recognition of…»

Will Prologis’ M&A Appetite Keep Growing?
In 2015, industrial REIT Prologis Inc. led the $5.9 billion purchase of the industrial assets and operating platform of privately-held KTR Capital Partners LLC. Three years later, Prologis picked up publicly-traded DCT Industrial Trust Inc. in a deal valued at $8.5 million. Now, Prologis once again is diving into the M&A pool with its planned acquisition of…»

Queen Creek’s First Hotel Breaks Ground, Housing Permits Hit Record
As a growing community, the Town of Queen Creek has focused on five strategic priorities to ensure residents, businesses and visitors have a quality experience. Welcoming the town’s first hotel supports all the strategic priorities and was celebrated with a groundbreaking on July 17.  “We are very excited to have Hampton Inn building in…»

Here Are the Construction Trends to Watch in Arizona
It’s an exhilarating time to be a builder in Arizona. Record construction activity has continued through 2019, with multi-million dollar projects being built in all corners of Arizona. Despite all of the activity and excitement, the builders in Arizona continue to wrestle with maintaining and training their workforce, a rise in…»

Arizona Ranks No. 2 In U.S. for Year-Over-Year Job Growth
Arizona’s booming economy continues to dominate national rankings for job growth. Arizona ranked #2 in the nation for year-over-year job growth, according to a new report out today from the U.S. Bureau of Labor Statistics (BLS). Arizona added more than 80,000 new non-farm jobs from June 2018 to June 2019, BLS reports. Employment grew…»