Commercial Real Estate & Business News – June 9, 2016

As first reported by sister publication, ALM’s, this was an 11.6% increase from $1.48 trillion issued in the fourth quarter of 2015 but a 5.4% decline year over year from $1.75 trillion in the first quarter of 2015, according to the report.…»
May’s increase in nonresidential building projects suggests further growth in construction activity in 2016 despite first-quarter market volatility. The Dodge Momentum Index rose 2.4 percent in May to 119.4 from its revised April reading of 116.6 (2000 = 100).…»
Tempe Town Lake’s first hotel will open this week. The AC Hotel Tempe, part of Marriott International, will open on Wednesday, June 10. The European-style hotel will be the first in the western U.S. It will be the eighth in the U.S. …»
Metro Phoenix is often considered among the more-affordable places to live in the U.S., but a recent flurry of luxury-apartment construction in Scottsdale bucks that trend, with rent in some cases approaching Manhattan prices.…»


Pending home sales in the US rose for the third consecutive month in April and reached their highest level in over a decade, according to the latest index data to be published.…»