Commercial Real Estate & Business News March 8, 2019

Recession? What Recession? Market is Almost Unrecognizable from a Decade Ago
We didn’t know it at the time, but 10 years ago this week, things started looking up. On March 9, 2009, the S&P 500 closed at 676.53, the lowest point it hit over the course of the Great Recession. Today, the index stands at around 2750. Although the implosion of the subprime real estate market is most frequently cited as the catalyst for the…»
Private Sector Employment Increases by 183,000 Jobs in February
Private sector employment increased by 183,000 jobs from  January to February according to the February ADP National Employment Report®.  Broadly distributed to the public each month, free of charge, the ADP National Employment Report is produced by the ADP Research Institute® in collaboration with Moody’s Analytics.  The report, which…»
How Wexford’s $77M Research Facility in Downtown Phoenix Came to Fruition
When Christine Mackay took over as economic development director for the city of Phoenix, one of her first meetings was with Tom Osha. Osha is senior vice president in charge of innovation and economic development for Baltimore, Maryland-based Wexford Science & Technology LLC, and he was in town during January 2015 to see how…»
Statesman Opens Leasing for $74 Million Luxury Apartment Community in Desert Ridge
The Statesman Group announced today that leasing opportunities are now open for the first phase of Montreux, a $74 million luxury apartment community within the sought-after Desert Ridge neighborhood. Located on the east side of Deer Valley Road between 52nd and 56th streets, Montreux will be comprised of 335 one-, two- and…»
Downtown Phoenix Real Estate Project Developed by Former Governor to be Razed
Once a dream project of former Arizona Gov. Fife Symington, the Mercado will eventually be razed to pave the way for future development. Built by Mercado Developers – a partnership of Symington and the for-profit division of Chicanos Por La Causa – the 125,000-square-foot center opened in December 1989 as a Mexican-style…»