Daily News – February 24, 2020

Yardi: National Average Rent Falls $1 to $1,463; Rent Growth Steady at 3%
The national average rent fell by $1 in January 2020, down to $1,463, while year-over-year rent growth has remained at 3%, according to the latest Yardi Matrix Multifamily National Report. January marks the third consecutive month of declines for the average U.S. rent, which Yardi Matrix attributes to seasonality…»
Historic Downtown Phoenix Retail Center Trades Hands
Phoenix, Arizona – Encanto Village, a +/- 20,000 square foot shopping plaza sold to a local investor for $2,300,000.  Built in 1951, Encanto Village sits on the hard corner of 15th Avenue and Thomas Road adjacent to the 222-acre Encanto Park in central Phoenix. The Seller…»
Arizona Exports Reach All-Time High
Arizona is exporting more than ever. New data show the state reaching a record high for exported goods in 2019 and ranking sixth nationwide for states growing export dollars.Arizona’s export total grew to $24.7 billion in 2019, a record high…»
Two Proposals to Restrict Vacation Rentals in Arizona Advance at the Capitol
People who rent their houses through vacation websites like Airbnb and VRBO visited the Arizona Capitol on Thursday to advocate for such businesses, but two bills cracking down on their industry passed initial hurdles nonetheless. The short-term rental industry…»
Pier 1 Files Bankruptcy Protection, Closing 7 Arizona Stores
Pier 1 Imports Inc. (NYSE: PIR) has become the latest big-box retailer to file for Chapter 11 bankruptcy protection, and court documents show that the company intends to close six stores in the Phoenix region and one in Tucson. The Fort Worth, Texas-based…»