Commercial Real Estate & Business News November 6, 2019

Nonresidential Construction Continues to Add Jobs The construction industry added 10,000 net new jobs in October, according to an Associated Builders and Contractors analysis of data released today by the U.S. Bureau of Labor Statistics. On a year-over-year basis, industry employment has expanded by 148,000 jobs or 2%. Nonresidential construction employment increased by 4,000 jobs on net in…»
Opendoor Leases Offices in Tempe, Arizona’s New Watermark Project
Opendoor, a San Francisco-based startup company that buys single-family homes and resells them through an online app, leased three floors at a just-completed office building in Tempe, Arizona, where the company reportedly plans to expand and consolidate its operations. The company leased 100,807 square feet on the 14th through 16th floor at…»
Student Housing Properties Are Beginning to See Fallout from Overdevelopment
The performance of student housing properties in the lease-up for the fall 2019 semester varied more widely than usual, according to industry sources, including Carl Whitaker, who manages the market analytics team for RealPage Inc., a provider of property management software and services. Some student housing…»
Manufacturing Jobs Now Outnumber Construction Jobs In AZ: Gov Ducey
A boom in manufacturing in Arizona – from electric cars to high-end golf clubs – is helping to lower unemployment in the U.S., Gov. Doug Ducey told business leaders this week, noting that manufacturing jobs in the state now outnumber construction jobs. Ducey, joined by Tom Gilman, an assistant secretary of the U.S. Department of…»
Bringing the Bang!™
Bang® Energy recently acquired a new 400,000 square foot manufacturing and distribution facility in Phoenix, Arizona, for $52,323,000. This state-of-the-art facility will include newly-engineered canning and manufacturing lines to produce our enormously popular Bang® energy drinks at blistering speeds of 3,600 cans per minute! -Jack OwocProduction will…»