Commercial Real Estate & Business News September 27, 2018

WASHINGTON – The economy has been cruising lately and so the Fed is tapping on the brakes once again. Upgrading its economic outlook, the Federal Reserve on Wednesday raised its key short-term interest rate by a quarter point for the third time in 2018 and kept its forecast for another hike later this year. “Our economy is strong, growth is running at a healthy clip, unemployment is low,”…»
Solid income grown and the strong labor market are expected to make for a very robust holiday season for the nation’s retailers – but the season is not without some risks. Total holiday sales are expected to exceed $1.10 trillion between November and January, increasing 5% to 5.6% over last year’s shopping season, according to Deloitte’s annual retail holiday sales forecast…»
While all eyes have been on Amazon’s astronomical growth and its imminent decision on where to locate a second headquarters, the rest of the technology community has been gobbling up space to establish offices near hubs of talented workers across the country so quickly in the past five years that the industry has almost doubled its national real estate footprint…»
It’s not often when 22 miles of freeway is added to a major city in the U.S. It also isn’t often when a large area becomes ripe for a slew of economic development opportunities for a variety of markets. Phoenix is set to see all of this become a reality when the South Mountain Freeway is finished in late 2019. The brand-new stretch of freeway will serve as a connector between the East and West Valley…»
The first phase of a four-phase industrial development near Loop 202 and Phoenix-Mesa Gateway Airport has begun construction and is expected to be completed by the end of the first quarter of next year. Landing at PMG’s first phase will consist of six buildings totaling 280,000 square feet and cost $30 million to develop.