Commercial Real Estate & Business News – July 27, 2016

International investors still have great reasons to put their money into real estate in the U.S., as the economy here continues to outperform the rest of the world. “In an environment that is regarded both as the safest and most secure in the world, with a strong currency and the best opportunity for capital appreciation, the U.S. is the safest harbor,” says James A. Fetgatter, chief executive of Association of Foreign Investors in Real Estate (AFIRE)…»
Those who come in for edible fare may be more apt to linger, and in turn, spend more time with the merchandise, says James Sundstad, vice president of branded environments at strategy, branding and retail design firm CBX. ” “You’re giving them a reason to be there that isn’t just about buy something or get out,” he says…»
“The number one thing about any great downtown is that it’s walkable,” said Dan Klocke, executive director of the Downtown Phoenix Partnership, an affiliate of DPI. “Through events, through streetscape improvements and through filling ground-floor spaces, we think we can create a really special, walkable, interesting and fun downtown”…»
Sales volume more than doubled from first quarter to second quarter. The median price per unit was up 36 percent from a year ago, reaching $106,600. Cap rates were stable in the first half, settling in the mid-5 percent range. This level remains the same as we experienced in 2015…»
Arizona’s seasonally adjusted unemployment rate increased two-tenths of a percentage point from 5.6% in May to 5.8% in June, according to a report from the Arizona Department of Administration’s office of Employment and Population Statistics. The U.S. seasonally adjusted unemployment rate increased two-tenths of a percentage point from 4.7% in May to 4.9% in June. A year ago, the Arizona seasonally adjusted rate was 6.0% and the U.S. rate was 5.3%…»