Here are the news articles you might find interesting today for commercial real estate and business:
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CUSHMAN & WAKEFIELD COMPLETES SALE OF 131,000-SQ.-FT. PHOENIX FLEX/INDUSTRIAL BUILDING Crown Realty & Development, represented by Will Strong, senior associate of Cushman & Wakefield, Inc., has sold 5115 N. 27th Ave., a 131,000-square-foot single-story flex/industrial building in Phoenix for $6.4 million. The buyer was Grand Canyon University, a private institution that will utilize the property for administrative purposes. View article…
Mesa exploring addition of downtown nightlife Mesa wants to become a player in the Valley’s nightlife scene. Phoenix, Scottsdale and Tempe have set the bar when it comes to nighttime economy and Mesa could be heading toward the creation of a downtown entertainment district to help the economy. Such a district would be a tool to lift the distance requirement between churches/schools and bars/nightclubs which, by state law, is 300 feet. The district would cover the area along Main Street from Country Club to Mesa drives, an area with about 25 churches and schools. View article…
Arizona 50th in disposable income growth Per capita disposable personal income in Arizona rose less than 5 percent between 2006 and 2011, the lowest rate of any state in the nation besides Nevada. New research from ON Numbers shows Arizona’s per capita disposable personal income was $30,557 in 2006 and $32,015 last year, for growth of 4.77 percent. View article…
FOMC Maintains Policy Stance to Hold Down Rates Pointing to slow employment growth and an “elevated” unemployment rate, the Federal Open Market Committee said Wednesday the Federal Reserve “will continue purchasing additional agency mortgage-backed securities at a pace of $40 billion per month.” View article…
HOUSING:
Campus housing heading upscale, including at ASU Housing on campus is changing with the addition of new private-sector builders such as American Campus Communities Inc. and Education Realty Trust Inc. The Wall Street Journal reported budget cuts at state universities along with changing demand by students is altering the student housing mix. View article…
August Home Prices Up 4.7% from Year Ago: FHFA The Federal Housing Finance Agency’s (FHFA) House Price Index (HPI) continued its upward crawl in August, rising 0.7 percent from July, according to a release from the agency. For the 12 months ending in August, home prices in the United States rose 4.7 percent. View article…
Realtors pick Phoenix as a top turnaround market Phoenix and other western cities continue to lead the turnaround as the nation’s embattled real estate market gets back on its feet, according to Realtor.com. The National Association of Realtors website lists the Phoenix area at No. 8 in the third quarter turnaround activity, booted from the No. 1 spot by Oakland, Calif. The rankings are based on year-to-year quarterly changes in median home prices, inventory, age of inventory and unemployment rates. View article…
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