Commercial Real Estate & Business News – October 20, 2017

Arizona’s unemployment rate came in at 4.7 percent last month, according to new data from the Arizona Office of Economic Opportunity. That is the lowest unemployment rate since January 2008 and is being touted by Gov. Doug Ducey. The Phoenix metro area jobless rate is 4 percent. The U.S employment rate is 4.2 percent…»
The Greater Phoenix industrial market continues to surge with activity, posting strong net absorption and driving vacancy lower, according to a report released by Colliers International in Greater Phoenix. The metro area continues attracting industrial tenants, resulting in a surge of leasing and a drop of vacancy…»
The 4,500 people of the Mohave, Chemehuevi, Navajo and Hopi tribes who belong to the Colorado River Indian Tribes might eventually lease some of their share of the river’s water to the rest of Arizona for the first time. That would allow more development in places like suburban Phoenix. But the plan is fraught with legal and logistical complications…»
Phoenix Raceway in Avondale has installed the highest steel beams in a $178 million modernization project at the auto racing track. The project is sponsored by DC Solar and being built by Okland Construction. It will modernize and bring more technology and solar energy sources to the race track west of Phoenix…»
The topic of innovation is everywhere. Many of us cannot go a week without hearing about a new platform or product claiming to help drive efficiencies, productivity or solve a real dilemma. But despite our 21st century love for continuous improvement, innovation has been at the core of many great companies for decades…»