Commercial Real Estate & Business News – October 10, 2016

About 25 years ago, an opulent shopping center with posh shops, a walk-through aquarium and an IMAX theater, the likes of which was not found anywhere else in Arizona, opened in the heart of Scottsdale. The city’s main drag, Scottsdale Road, was realigned to make room for the grand project with half a million square feet of space and marble floors.…»
Goodwill of Central Arizona isn’t stopping its expansion streak. The nonprofit will open a 22,000-square-foot location at 9000 W. Northern Ave. in Peoria on Oct. 14. Goodwill opened two new locations less than a month ago as well as a Mesa location earlier this year and a north Phoenix location around this time last year.…»

The Maricopa County stadium district board of directors voted to explore the option to sell Chase Field, downtown home of Major League Baseball’s Arizona Diamondbacks, to private out-of-state investors last month. The proposed deal, which was made public in early August, would include keeping the Arizona Diamondbacks at the stadium through 2028 …»

Hiring by large companies will generate further demand in local apartments, creating density in urban corridors. Continued optimism by Phoenix employers boosted job growth during the past four quarters, with increases expected throughout the year. White-collar jobs along with health professionals contributed to a large share of total employment, including nursing/direct care staff and back-office positions.…»

The Labor Department released its employment numbers for September showing that the US economy added 156,000 positions to the nation’s payrolls. This was below most economists’ expectations for the month and below the revised figures posted in August. The numbers have a national significance – they will become fodder in the US presidential election campaign…»