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Commercial Real Estate & Business News – October 22, 2020

The Restaurant Industry’s Recovery Could Take Longer Than Expected
In a sign that the restaurant industry’s recovery will be even more drawn out, last month sales inched up at the slowest pace since the economy began to reopen from the lockdowns. Overall, eating and drinking places registered sales of $55.6 billion on a seasonally-adjusted basis in September, according to…»
Job Gains Continue to Slow, but Some Cities Are Gaining Ground
National job growth continued to slow in September, according to the latest employment figures from the Bureau of Labor Statistics.To recap the national employment numbers, the U.S. added about 660,000 jobs in September. That is down from the 1.5 million jobs gained in August and the 1.8 million gained…»
Arizona Hispanics’ Economic Impact will hit an All-time High by 2022
Arizona Hispanics’ buying power is expected to hit an all-time high at $57.3 billion by 2022. In the Phoenix region alone, about 310,000 Latinos plan to buy a vehicle over the next year. About 95,000 plan to purchase a home or condo. These are just a few of the facts contained in the 2020 DATOS report,…»
Sources: Major Semiconductor Maker Zeroing in on Phoenix Site for Huge Factory
An expansive swath of desert in north Phoenix is likely the landing spot for Taiwan Semiconductor Manufacturing Co. Ltd.’s $12 billion plant, multiple sources with knowledge of the deal confirmed. The world’s largest contract silicon chip manufacturer announced in…»
Chandler Prepares for the Future of Airport and Surrounding Airpark Area
Chandler’s Airpark Area employment corridor is the fastest growing employment area in the City. This nine-square-mile corridor is anchored by the Chandler Municipal Airport, which is among the busiest general aviation airports in the United States. The Airpark Area is comprised of a wide…»