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Commercial Real Estate & Business News – April 11, 2016

April 11, 2016 by Nick Miner, CCIM   No comments   Filed Under: Daily News

U.S. Job Market Firming Despite Anemic Economic Growth
The number of Americans filing for unemployment benefits fell more than expected last week, suggesting the labor market continued to strengthen despite tepid economic growth. Initial claims for state unemployment benefits declined 9,000 to a seasonally adjusted 267,000 for the week ended April 2, the Labor Department said on Thursday... Read more »
Phoenix and Scottsdale Rank in Top 11 Emerging Tech Office Markets
A major reason tech companies are branching out of Silicon Valley and San Francisco are costs, and not just the cost of real estate—the cost of talent as well, according to Ryan Severino, senior economist and director of research at Reis. There are educated workforces in other markets that are equally competent and not as expensive as the San Francisco and Silicon Valley salaried tech office workers... Read more »
Low Mortgage Rates and Strong Demand Benefitting US Home Builders
Low mortgage rates and strong demand should create a positive outlook for home builders in the United States but a serious labour shortage could hold them back. During the 2009 recession nearly a quarter of construction workers lost their jobs as the housing market collapsed and there is evidence that a number of labourers are not returning, leaving remaining construction workers overstretched, says an analysis report from Hermes Investment Management... Read more »
Scottsdale Eyes Residential Mixed-Use
Airpark area project to include 644 luxury units, retail/commercial, underground parking. The Development Review Board will consider a preliminary request, which – if approved – will transform more than 10 acres of office space in the Scottsdale Airpark into a luxury apartment community with a retail or commercial component... Read more »
Report: PHX Q1 Industrial Outlook ‘Positive’
The Metro Phoenix job market continued to show signs of economic prosperity, adding 67,000 new or relocated jobs annually through February 2016. During the same course of time, the unemployment rate decreased 80 basis points (bps) to 4.6%. With employment reaching 1,964,800 total non-farm jobs, the Valley has recovered all the jobs lost during the Great Recession... Read more »

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Nick Miner, CCIM

Orion Investment Real Estate
7328 E Stetson Drive
Scottdale, AZ 85251

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