Commercial Real Estate & Business News – April 1, 2016

The global economy is listless. Consumer spending is losing some steam. But America’s job engine keeps chugging, and that may be all that really matters. Payroll processor ADP’s report Wednesday that the private sector added a sturdy 200,000 jobs in March is reinforcing expectations that the government will announce more healthy employment gains on Friday. That could calm jittery investors and help embolden a Federal Reserve weighing further interest rate hikes... Read more »
Mid-size users are dominating the Phoenix industrial market, and the construction sector has a heavy hand in that success, says the Phoenix office of JLL. According to the brokerage firm, much of the 5.8 million square feet of industrial space absorbed in the Valley last year went to mid-size users–tenants occupying somewhere between 10,000 and 50,000 square feet... Read more »
Commercial real estate prices and investment volume declined for the second consecutive month in February, despite robust leasing that bolstered net absorption and CRE fundamentals in the first quarter of 2016, according to the new release of CoStar Commercial Repeat-Sale Indices (CCRSI) data. Both the value-added and equal-weighted U.S. Composite Indices... Read more »
P.B. Bell Cos. has opened a new 244-unit high-end apartment development in central Phoenix. The Escape development is located near Highland Avenue and 16th Street. That area has become popular for new and redeveloped apartment complexes. Units range between 713 and 1,252 square feet including some two-story lofts... Read more »
Over three quarters of households in the US would purchase a single family home if they were to buy in the next six months, and 79% of renters would choose to buy outside of an urban area, new research shows. The latest quarterly consumer survey from the National Association of Realtors also shows that confidence about now being a good time to buy is waning amongst renters, particularly in the West where prices have solidly risen...Read more »

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