Commercial Real Estate & Business News October 24, 2018

It looks like U.S. apartment and condominium builders are reacting to rising costs and a supply glut the same way: slowing down. Multifamily housing permits – – those for buildings with two or more units – dropped last month to the lowest level since March 2016, government figures showed Wednesday. That…»
Investors are talking a good game as they negotiate to buy self-storage properties-but on average, they are still paying high prices and accepting low investment yields. “I have seen some re-trading… maybe 1.5 percent of the purchase price,” says R. Christian Sonne, director of specialty practices for the national self-storage valuation group at real estate services…»
FOR IMMEDIATE RELEASE October 22nd , 2018 The data released this week points to continued strength in the U.S. business cycle through the end of this year. Capacity constraints and tighter labor market dynamics may make it hard for 2019 to repeat the success of 2018. Time will tell whether housing, manufacturers’ orders…»
The recession has finally ended in Tucson, with the area regaining all the jobs lost from 2007 to 2011, according to numbers released last week. “The Tucson employment cycle is now in expansion mode and has shed the moniker of ‘recovery,'” said Michael Niemira, an economist who tracks Arizona, citing figures from the federal Bureau of Labor Statistics.…»
PHOENIX, ARIZ. – The Phoenix office market has achieved 1.2 million square feet of absorption year to date, placing it as one of the top secondary markets in the U.S. for fast and consistent net absorption, with no notable end in sight, says the Q3 2018 Phoenix Office Insight report from the Phoenix office of JLL.…»