Commercial Real Estate & Business News May 6, 2019

Economy Added 263,000 Jobs in April, Unemployment Falls to 3.6%, New 50-Year Low Hiring was strong for the second straight month in April and unemployment fell to a new 50-year low, easing concerns that a slowing global and U.S. economy could dampen job growth. Employers added a booming 263,000 jobs, the Labor Department said Friday, beating forecasts of 190,000. The unemployment rate fell from 3.8% to 3.6%, lowest since December 1969, but that was because nearly 500,000…»
Construction Job Boom Continues in State
The state’s seasonally adjusted jobless rate ticked down a tenth of a point in March in what, by all indications, was a pretty unremarkable report. On one hand the state’s construction industry continues to boom, adding 2,800 jobs last month and 16,700 in the past year. That latter figure was enough to post a 10.8 percent year-over-year gain. But Arizona also lost 900 jobs last month in wholesale and retail trade. On an…»
$46M Luxury Apartment Development Will Break Ground at Eastmark
PCS Development and RTE2 Builders announced it will officially break ground in June of 2019 on The Premiere at Eastmark, a 216-unit, $46 million, Class A Residential Apartment Community at Eastmark, in Mesa’s expanding Gateway corridor. The owners assembled a best-in-class planning, design, engineering, and management team to develop the property at levels never seen before in the…»
New 40-Acre Phoenix Industrial Park Coming to Avondale
The Phoenix office of JLL has completed a 40-acre land purchase that paves the way for 101 Logistics Park, a new two-building, Class A industrial regional distribution center being developed in Avondale, Arizona by Seefried Industrial Properties and Crow Holdings Capital Real Estate.JLL Managing Directors Marc Hertzberg and Anthony Lydon, and Vice President Riley Gilbert represented the developers in the…»
Suns Announce Location of New Training Facility in Phoenix
The Phoenix Suns announced Friday the location of their new training facility, which will sit at Camelback Road and 44th Street in Phoenix.The team plans to break ground on the facility by the end of summer this year.The facility is privately-financed and will “feature the latest innovations in sports science and player development,” a statement from the team said. It will also include offices, health and training…»