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Commercial Real Estate & Business News – October 4, 2017

Investors continue to buy fewer apartment properties than they did last year. Yet prices continue to rise. “It’s another down month for volume, but prices are still increasing,” says James Costello, senior vice president for Real Capital Analytics (RCA), a New York City-based research firm. Usually prices fall when transaction activity slows..»
The not seasonally adjusted (NSA) national construction unemployment rate was 4.7 percent in August, down 0.4 percent from a year ago and the lowest August rate on record, the U.S. Bureau of Labor Statistics (BLS) reported. Unemployment rates were also down in 35 states on a year-over-year basis…»
In order for retailers to thrive and remain viable long term, they must continue to evolve to meet changing needs and consumer demands. If they don’t evolve they go extinct, as we have seen over the last 20 years. A current example is that of the department store concept. In their 1970s heyday, they were the only major shopping option for consumers..»
A Phoenix apartment development has been sold for $125.5 million. Business Real Estate Weekly of Arizona reports that Florida-based PrideRock Capital Partners bought the IMT Deer Valley multifamily complex from California-based IMT Residential. It’s been renamed Heritage at Deer Valley. The Deer Valley complex has 832 units..»
Several commercial real estate industries could face a deepening labor shortage in coming years due to proposed immigration policies. If enacted, policies restricting legal immigration could make it increasingly difficult to fill various positions in the industry, according to a recent Cushman & Wakefield report…»