Commercial Real Estate & Business News – May 20, 2016

The commercial real estate industry has known for some time that asset prices may have reached a ceiling for this cycle, but now data from multiple research firms confirms this. Moody’s and Real Capital Analytics report that their joint Commercial Property Price Index (CPPI) increased by 0.2 percent in March, after a 0.2 percent decline in February. According to the firms’ researchers, “The national all-property index is roughly at the same level it achieved in December 2015… Read more »
Phoenix crept closer to hitting the top five in U.S. city population in 2015, with less than 4,500 people from passing Philadelphia, which is also a city-county. That’s one tidbit in the hundreds of pages of data of city, county, and unincorporated area populations released by the U.S. Census from 2015 estimates… Read more »
New restaurants are landing in Evergreen Development’s redevelopment, a former semiconductor plant site on Bell Road in north Phoenix.Evergreen is building the 31-acre Trellis on Bell mixed-use project at 12th Street and Bell Road. It was previously a semiconductor plant for STMicroelectronics and then Western Digital Corp. The shutdown computer chip factor has been torn down for Evergreen’s mix of apartments, retail and single-family housing… Read more »
Once again, retail real estate professionals are gearing up for the largest show in their business, and as host, the ICSC’s cup is running over. The Leasing Mall for the annual RECon show in Las Vegas sold out completely months ago with more than 1,100 registered companies, and the Marketplace will be similarly packed with vendors and product service providers… Read more »
Arizona added nearly 81,000 jobs year over year in April, increasing the state’s workforce from last year by 3.7 percent, more than double the population growth rate, according to the newest numbers from the Arizona Department of Administration. The monthly unemployment rate ticked up to 5.5 percent from 5.4 percent in March… Read more »