Commercial Real Estate & Business News – November 30, 2016

Consumer confidence soared to a nine-year high in November despite Donald Trump’s upset victory in the presidential election, which was expected to intensify political uncertainty and roil markets. A closely watched index of Americans’ outlook increased…»
Casa Grande in Pinal County is the new home of a 500-acre, $700 million, 2,000-employee automotive manufacturer. Menlo Park, California-based Lucid Motors will build an electric vehicle manufacturing facility in Casa Grande and has plans to build its luxury electric vehicles for first sale in 2018.…»

Housing Trust Group (HTG), a leading multifamily developer, has closed on financing and broken ground on Aviva, a new $63 million, multifamily development in Mesa, Arizona. The luxury gated community, located at 8350 East Baseline Road, will consist of 325 one-, two-, and three-bedroom apartments.…»

The corporate headquarters of Avnet, Inc. has been sold to Cole Office & Industrial REIT (CCIT II), Inc. of Phoenix. The Class A, 176,402-square-foot building at 2211 S. 47th St. has been the technology company’s worldwide headquarters since 1997. …»
Commercial property has been a big winner from years of ultralow interest rates around the world. Now markets are signaling that change might be in the air. Investors have been dumping government bonds in Europe, Asia and the U.S., sending prices tumbling. When bond prices fall, real-estate values often follow.…»