Commercial Real Estate & Business News May 15, 2019
As Phoenix’s West Side Grows Two New Hotels Break Ground, Expected to Open in 2020 Two Goodyear hotels recently broke ground as metro Phoenix’s west side continues to grow. The two hotels, Tru by Hilton and Springhill Suites by Marriott, will have a combined 178 rooms and share a corner off Interstate 10 and Bullard Avenue. […]
Commercial Real Estate & Business News May 14, 2019
Fed’s Interest Rate Position Could Help CRE Sales Volume The current Goldilocks economy-not too hot and not too cold-is helping to keep the bears from emerging in the commercial real estate sector. In a move aimed at holding on to that warmish balance, the Fed confirmed during its May 1 meeting that it would not change […]
Commercial Real Estate & Business News May 13, 2019
The Office Sector Got Off to a Good Start in the First Quarter. But New Deliveries Are a Worry U.S. office market performance in the first quarter of 2019 showed resilience, with roughly 14 million sq. ft. of absorption and dropping vacancy, despite increasingly cautious economic sentiment, reports real estate services firm JLL. Even with the […]
Commercial Real Estate & Business News May 9, 2019
Redfin Migration Report: Phoenix is the Top Destination, Particularly among Los Angelenos and People Looking to Leave Other Expensive, High-Tax Metros Twenty-five percent of Redfin.com home searchers looked to move to another metro area in the first quarter of 2019, compared to 23 percent during the same period last year. The national share of home-searchers looking […]
Commercial Real Estate & Business News May 8, 2019
Multifamily Borrowers Still Have Lots of Options for Constructions Financing Investors can still find the financing they need to develop apartment properties.”If you can get a site to build, there are people who would love to lend on it,” says Bill Leffler, vice president in the multi-housing group of real estate services firm CBRE. Interest rates […]
Commercial Real Estate & Business News May 7, 2019
Construction Job Boom Continues in State The state’s seasonally adjusted jobless rate ticked down a tenth of a point in March in what, by all indications, was a pretty unremarkable report. On one hand the state’s construction industry continues to boom, adding 2,800 jobs last month and 16,700 in the past year. That latter figure was […]