Commercial Real Estate & Business News – March 14, 2014

CRE Prices Continue Upward March in January

Shrugging off a seasonal slowdown in trading activity, commercial real estate prices continued their steady upward movement in January, according to the latest CoStar Commercial Repeat Sale Indices (CCRSI), analyzing commercial property sales through January 2014… Read more

Top 5 Fastest Growing Office Space Occupiers

The techies are taking over. The profile of white collar workers who are gobbling up office space is changing, from the lawyers and brokers of yesteryear to computer information analysts, marketing specialists and financial services advisors today… Read more

New Apartment Complex to be Developed at the Chandler Apartment Square Mall

Eight acres of a twelve-acre land parcel just west of Chandler Fashion Center Mall sold last Friday in an event marking the development of this site into apartment homes. The owners of the site, The Statesman Group, conveyed this land for $7,878,000 or $22.48 per square foot to a legal entity in which they are a member along with new member HCW Development… Read more

State: Arizona Unemployment Rate Drops In January

Arizona’s unemployment rate is down slightly. State Department of Administration researchers say the seasonally adjusted unemployment rate for January was 7.5 percent, down from 7.6 percent in December. The department says Arizona had 42,000 fewer nonfarm jobs in January, a reduction that it calls fairly typical as businesses reduce staffing after the winter holidays… Read more

Commercial Sales Rise 11 Percent in Fourth Quarter

Mirroring broader trends, commercial transactions in REALTORS markets registered a positive fourth quarter. On a year-over-year basis, sales increased 11 percent in the last quarter, as prices rose 4 percent. Cap rates continued compressing with a 50 basis point decline, from an average of 9.2 percent in the third quarter to 8.7 percent in the last. Multifamily properties recorded the lowest average cap rates… Read more