Commercial Real Estate & Business News – May 12, 2016

U.S. apartment sales surged 33 percent last year to $151.8 billion, and that momentum has carried over into first quarter of this year with another $38.6 billion in sales, according a recent report by apartment listing and data specialist Abodo, citing Real Capital Analytics data… Read more »
Lack of High-Quality Available Shopping Center Properties Hampers Both Retailers and Buyers: The U.S. retail real estate market recorded 11 million square feet of net absorption in the first quarter of 2016, causing the nation’s average vacancy rate to tick down to 6%, the lowest quarterly level since the Great Recession… Read more »
For most of this cycle, luxury apartments have been opening in gateway markets, like San Francisco and Washington, D.C. But RentCafe’s Nadia Balint says this luxury trend is spreading to under-the-radar locales, like Kansas City and Milwaukee too… Read more »
Whether it seems like it or not, Arizona’s economy is doing well for now and is expected to post its best year in a decade, state economists said Wednesday. Jobs, wages and population should continue to set new post-recession marks for Arizona, which has seen a burst of growth in industries such as finance and health care, as well as construction and service-sector work, said Lee McPheters, director of the JPMorgan Chase Economic Outlook Center at the W.P. Carey School of Business at Arizona State University… Read more »
Looking for a great place to conduct business? Well, look no further: Arizona has been ranked one of the best places in the country to do business, according to a recent survey. Chief Executive Magazine’s annual “Best & Worst States for Business” found that Arizona ranked No. 6 in the country for business, climbing three spots from last year… Read more »