Commercial Real Estate & Business News – June 7, 2017

The average U.S. monthly rent rose in May for the third month in a row, up by $4, to $1,316, according to the latest Matrix Monthly survey by Yardi Matrix. These increases belie the long-standing rent-growth deceleration trend, which has continued unbroken for 13 months. Rents rose by 1.5% year over year (YOY) nationwide in May, down 40 basis points (bps) from April, 90 bps from March, and 380 bps from the 5.3% rent growth recorded one year ago. The last time the YOY increase in rent growth was as low as 1.5% was in April 2011, over six years ago…»

Phase I, of the 1.9 million-square-foot mixed-use development, will include 250,000 square feet of premium Class A office space, 44,000 SF of high-end restaurant and boutique retail service space and 360 luxury apartments. Future phases include a second 360,000 SF office tower, an additional 20,000 SF of restaurant and retail space, and a 170-room business-class hotel…»

Tempe headquarters Insight Enterprises, First Solar, Lifelock, and Circle K, among other companies, and is also home to Arizona State University’s main campus. The city boasts one of the country’s largest New Year’s Eve parties, the Fiesta Bowl block party, one of the state’s largest shopping malls, and multiple performance venues and museums. And, if you’re just starting out and don’t have much in the way of furniture, you’ll be interested to know that Tempe is also home to the largest IKEA in the west.…»

The new co-working medical office space is located in the Mountain View Medical Plaza at 9700 N. 91st St., which is near Shea and AZ 101, right in the heart of the popular Scottsdale/Shea healthcare corridor and just south of Scottsdale Honor Hospital, which makes it a desirable location for medical practices of all types…»

According to a new study from the American Investment Council, Arizona may be one of the best environments for a small business. The Grand Canyon State is not only rich in natural landmarks, but rich in opportunity for small businesses. The American Investment Council ranked Arizona as the 19th state in the United States for private equity investment in 2016…»