Commercial Real Estate & Business News September 4, 2018

Arizona’s economy is growing at the fastest pace in more than 11 years, according to a report that foresees more of the same ahead. “The state averaged 3.2 percent real (gross domestic product) growth last year, and 2018 should do even better,” said BMO Capital Markets Economics.…»

Two speculative industrial buildings are being added to Mesa Elliot Technology Park, an area that has become a popular spot for high-tech employers including Apple Inc. and CyrusOne Inc., which operates and develops data centers. Todd Holzer, president of California-based Sunbelt Investment Holdings Inc., said he plans to build the spec projects, which will be adjacent to Loop 202, in two phases.…»

The owners of Gadzooks Enchiladas & Soup want to open one or two locations a year. Now they have their sights set on Tempe. The Valley-based fast-casual restaurant is currently building its third location at 505 W. University Drive in Tempe and expect it to open sometime early this winter, said Jared Pool, the restaurant’s co-owner and chief operating officer. Gadzooks is building on land formerly occupied by…»

For the second time this year, estimated July construction unemployment rates fell in every state and nationally on a year-over-year basis, according to an analysis of U.S. Bureau of Labor Statistics data released today by Associated Builders and Contractors. The July 2018 not seasonally adjusted national construction unemployment rate fell 1.5 percent to 3.4 percent from July 2017. At the same time, the construction industry employed 303,000 more workers nationally compared to July 2017, according to BLS statistics. …»

BoSa Donuts, a fast-growing Valley eatery, plans to add two new locations in downtown Phoenix by early next year, and possibly two more elsewhere at as-yet undetermined locations. The chain, which serves breakfast and lunch food with a range of drinks, already has 22 Arizona locations, many in the East Valley. Some stores are open 24 hours. …»