Commercial Real Estate & Business News March 25, 2019

Sports, entertainment corridors driving Valley development, experts say
The throngs of fans who attend spring training baseball games in the Valley generate hundred of millions of dollars in economic impact but may also be influencing future development of “entertainment corridors” in areas around some Cactus League fields. …»
Report: Construction contractors regain confidence in January 2019
Construction industry leaders remained confident regarding the nonresidential construction sector’s prospects during January 2019, according to the latest Construction Confidence Index released today by Associated Builders and Contractors. Expectations for sales during the coming six-month period remained especially upbeat…»
Apartment Rents Climb Faster in Metro Phoenix than Anywhere in the U.S.
Apartment rents climbed faster in metro Phoenix than anywhere in the U.S. during the past year. The average monthly cost to rent in the Valley jumped 8.1 percent, more than twice the rate U.S. rents climbed. That increase added $103 to the average apartment renter’s monthly bill, according to national apartment research firm…»
My View: Changing Times Require Shopping Centers to Work Together
As more shopping goes online, the dynamic continues to have profound impacts for Arizona cities and towns. That’s because the tax structure in this state means local sales tax revenue is the most critical source for funding community needs, parks, police and fire protection. As two huge drivers of sales tax revenue – shopping center…»
Largest Office Building Nears Completion at Skysong in Scottsdale, Arizona
A building under construction in one of Phoenix’s most thriving mixed-use developments has reached its full six-story height to become the largest of five office structures at the 42-acre SkySong campus in Scottsdale, Arizona.Structural steel at the 151,318-square-foot building named SkySong 5 along SkySong Boulevard topped out at…»