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Commercial Real Estate & Business News November 12, 2019

Arizona Ranked No. 1 Inbound State in the Nation A recent American Enterprise Institute (AEI) comparison ranked Arizona the number one inbound state in the nation. The inbound-outbound ranking is determined by the percentage of people moving to the state versus those leaving in 2018 based on Census Bureau data. The comparison also reviewed indicators related to tax…»
Report: Phoenix a Top Global City for Real Estate Investment, but Climate Change a Wild Card
Phoenix ranked No. 19 for commercial real estate investment in cities worldwide for the 12-month period that ended in June 2019, according to the Winning in Growth Cities report released by Cushman & Wakefield. Real estate investors spent $13.46 billion on real estate investments excluding development sites in Phoenix during…»
Phoenix Sees 2nd Highest Number Of Construction Jobs
In the past year, the Phoenix area saw the second highest number of new construction jobs in the country, according to an analysis of federal employment data by the Associated General Contractors of America. The association found only the Dallas metro area hired more workers (15,000) than Valley contractors (12,400) between…»
Metro Phoenix Home Prices Expected to Hit New Record High This Month
Metro Phoenix home prices are poised to hit a new record this month as lower interest rates continue to entice more home buyers, while the number of houses for sale shrinks. The area’s median home price is expected to climb from $280,000 to $285,000 in November, based on pending sales. Bidding wars for homes priced…»
Optima Sonoran Village Opens in Scottsdale
Optima Sonoran Village is now open in Downtown Scottsdale. Developer Optima has completed the final phase of the community, a luxury five-tower apartment community with 768 residences. The earlier phases opened in May. In that time, the property has leased 77% of its units. Located on the southeast corner of 68th Street…»