Commercial Real Estate & Business News – October 11, 2016

Uptown Plaza in Phoenix will welcome a new clothing store later this month from the duo behind a popular downtown Phoenix restaurant and bar. The couple that owns the Duce in downtown will open a standalone R&R Surplus at the recently renovated Uptown Plaza on Oct. 21.…»
Private investors turned more of their attention to single-tenant net lease assets this year, as institutional buyers pulled back from the property type due to the tightening in the capital markets in the early months of 2016. …»
The Phoenix office of JLL released its Q3 2016 Phoenix Office Report, highlighting benchmarks and includes the lowest vacancies since 2008 and still-rising rents. Still, Phoenix remains one of the most affordable office markets on the West Coast.…»
The construction industry rebounded in a meaningful way in September by gaining 23,000 net new jobs on a monthly basis after losing 5,000 net jobs in August, according to an analysis of U.S. Bureau of Labor Statistics data released today by Associated Builders and Contractors (ABC). …»
The jobs data released Friday showed negligible change, but the employment report – the last before the Federal Reserve’s next policy meeting, in November – has fueled speculation about a Fed rate hike by the end of the year.…»