CRE investment as a proportion of the entire U.S. GDP is trending up for most property sectors. The Bureau of Economic Analysis reported on Wednesday that investment in non-residential structures decreased at a 10.7 percent annualized rate in the first quarter of 2016. That wasn’t a reflection on the health of commercial real estate, though it sounds like it should be. In fact, investment in most CRE sectors is still edging up… Read more »
It’s about the jobs, stupid. Employment_800x610The presidential election primary season has highlighted the theme of the angry voter, which has the effect of overstating the U.S. economy’s weak points while failing to notice the remarkable consistency in job creation that has underpinned the recovery. Through April, the private sector has added jobs for 73 consecutive months—the longest such streak on record—encompassing 14.4 million new jobs, or a shade under 200,000 per month… Read more »
Apartment property performance in 2015 continued to outperform even the strong performance seen in 2014 and 2013, according to the latest financial data collected on thousands of multifamily complexes. And the net operating income performance for the property sector may still head higher… 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 »
Vancouver, BC-based Macdonald Development Corporation (MDC) is expanding its Arizona presence with the purchase of 0.403 acres of CC-zoned land, which is located at 6th Street and College Avenue in a premier downtown location. MDC purchased a 50% interest in the land parcel from property owner, Spike Lawrence, co-founder of Tempe-based Lawrence & Geyser Development Corp. Lawrence will maintain 50% ownership in the land, and work with MDC and Bill Borders of Phoenix-based ARC Construction to create the vision for the development… Read more »