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Commercial Real Estate & Business News – June 5, 2017

Delinquencies on commercial and multifamily mortgage loans remained flat or decreased in the first quarter, the Mortgage Bankers Association said Thursday. Among the major capital sources, all but CMBS come in below 1%, according to MBA figures…»

The unemployment rate has hit a new, but welcomed milestone. The U.S. unemployment rate is now 4.3%. This is the lowest it’s been since 2001. However, job gains missed the mark by a wide margin. The economy only added 138,000 jobs last month, missing the 185,000 mark expected by analysts. Job gains have occurred with an average monthly gain of 181,000 over the past 12 months…»

As we approach the second half of 2017, the multifamily marketplace still offers opportunities for savvy investors and developers who can source deals and are willing to put more skin in the game. Land sourcing, rising construction costs and shifts in the financing sector are all key considerations that today’s participants must overcome to be successful. However, it can still be done…»

UPS is landing a large new, high-tech regional operations hub in Goodyear. The $180 million center will be located at the Loop 303 and Interstate 10 in the West Valley. It is expected to bring 1,500 jobs to Goodyear…»

The housing market’s recovery from a devastating crash had just begun, and the allure of condos hadn’t yet caught on in metro Phoenix as it had in other big cities like New York, San Francisco and Chicago. But when the Enclave at Borgata’s first residents moved into their million-dollar condos early this year, they found plenty of neighbors had already settled in. More than 60 percent of the homes had sold…»