Commercial Real Estate & Business News June 8, 2018

After nearly a decade of tracking executive sentiment in commercial real estate, data by top U.S. law firm Akerman LLP show industry leaders display unwavering optimism about America’s economic strength. Nearly 70 percent of executives and investors surveyed in the ninth annual Akerman U.S. Real Estate Sector Report say they are even more optimistic for 2018 market activity…»
Landlords continue to benefit from booming apartment demand, as U.S. apartment rent growth averaged 2.9 percent between May of 2017 and 2018. While landlords haven’t been able to push rents like it’s 2015 anymore, the country is eight years into this economic cycle and rents continue to outperform their average in the face of increased supply…»
As it inches closer to opening, the Churchill announced a list of tenants that will call the downtown Phoenix development home. The Churchill, which is being fashioned out of old seaport shipping containers at Garfield and First streets near Roosevelt Row, already announced Pedal Haus Brewery, State Forty Eight, Pobrecito, Cosas and Freak Brothers Pizza would set up shop at the anticipated complex…»
Sometimes significant change sneaks up behind you and hits you on the head. That happened to me the other day when I was having a business dinner with someone in downtown Phoenix. We were off on some tangent about the types of early-stage capital available in the state when I didn’t hear what he said because the train behind him was too loud…»
Piles of rubble dot the ground where 20 homes once stood in central Phoenix as Chasse Building Team began demolition work on June 1 on the 3.6-acre site that will become a 329-unit apartment complex. Crescent Midtown is the latest development by Charlotte, N.C.-based Crescent Communities and follows Crescent Highland in Phoenix and Crescent Scottsdale Quarter into the marketplace…»