Commercial Real Estate & Business News September 10, 2018

A London-based real estate investment company has named Phoenix a city to watch as one of the fastest growing markets in the nation. “TH Real Estate believes that Phoenix is well-positioned to capitalize on its favorable growth prospects,” said Dan Manware, a researcher with the U.S. division of TH Real Estate, which issued the report. “We expect this metro to have continued momentum…»
Commercial property prices appear to have stabilized, a trend likely to persist for six to 12 months, according to research firm Green Street Advisors. Property prices have cooled over the past couple of years, and Green Street’s aggregate CPPI has remained at roughly the same level as it was two years ago, said Peter Rothemund, senior analyst of strategic research at the firm…»
101 Envy Raintree, LLC has purchased the fully-leased retail building at 8698 E. Raintree Dr. for $8 million to complete its larger assemblage within Northsight.  The company recently acquired the adjacent retail center and plans to create a sizable mixed-use, redevelopment project, within this coveted Scottsdale Airpark location…»
The U.S. construction industry added 23,000 net new jobs in August, an increase from the 18,000 net new jobs added in July, according to an Associated Builders and Contractors analysis of data supplied by the U.S. Bureau of Labor Statistics. The industry has added 297,000 net new jobs since August 2017, a 4.3 percent increase. Nonresidential construction employment increased by 9,600 net jobs in August…»
Multifamily prices are surging in Phoenix, according to research from Colliers International. For the last several years, Phoenix multifamily sales have been largely driven by value-add deals. In the second quarter of this year, there was a shift with more new construction, class-A assets trading hands. As a result, the average price per unit has increased from $100,000 in 2017 to $164,000 in the second quarter…»