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Commercial Real Estate & Business News March 14, 2019

Retail Market Webinar: US Store Vacancies Fall to Lowest Point in More Than a Dozen Years
U.S. retail real estate is bursting at the seams. The national retail vacancy rate fell to 4.4 percent, its lowest level in more than a dozen years, in the final quarter of 2018, according to a CoStar analysis. That happened even as retailers leased space in U.S. malls at the slowest pace since the Great Recession. It’s the latest sign that big-box…»
Arizona has 2 of the Top 25 Most Affordable Cities to Work and Live
A study shows Phoenix and Tempe are 2 of the most affordable cities in which to work and live. Residents of Phoenix have an average of 81% of their salary leftover after rent and Tempe residents have an average of 79% left. Many factors determine where people settle down but having the opportunity to live your best life is at the…»
Phoenix Growing in Popularity for CRE Investors, According to Report
Phoenix is continuing to become more popular among commercial real estate investors, jumping up in the rankings from last year, according to a survey done by CBRE of cities in the Americas. Phoenix was ranked ninth among the most attractive cities for property investment in the 2019 Investor Intentions Survey, compared with…»
LGE Breaks Ground on Phoenix-Area Warehouse
A joint venture between LGE Design Build and Clarius Partners LLC has broken ground on The HUB at Goodyear, a 790,980-square-foot warehouse in Goodyear, Ariz. JLL is the project’s exclusive leasing broker. “The HUB is the first project to hit Goodyear’s ‘Bullard Tech Corridor’ and is an early part of the red-hot development wave…»
Sperry Equities Expands Phoenix Footprint with Acquisition of 2020 on Central
Sperry Equities purchased a 247,645-square-foot office building in Phoenix from Arizona Central Credit Union. 2020 on Central sold for an undisclosed price. The acquisition marks Sperry Equities’ 10th acquisition in the Phoenix metropolitan area, and the firm plans to invest in another $100 million of real estate in the area in the…»