Commercial Real Estate & Business News – August 23, 2016

 
So far, recent fairly positive data about the U.S. economy seems to be on the side of higher rates. On Friday, the Conference Board released a little more of that (fairly) positive data: its Leading Economic Index increased 0.4 percent in July to 124.3 (2010 = 100), following a 0.3 percent increase in June, and a 0.2 percent decline in May...»
Six states-Arizona, North Dakota, Mississippi, Oregon, West Virginia and Wyoming-saw a decrease in construction's percentage of GDP from 2014, ABC reported. The states with the lowest share of construction in their GDP were New York and Connecticut, both at 3.1 percent for the third year in a row...»
Phoenix's multifamily market will see added supply of 8,597 new apartment units this year. "The huge investments in retail, office and industrial projects in the Phoenix metro have translated into more jobs and increased demand for housing, which in turn favor multifamily construction"...»
Companies including Weebly and Allbound have sent employees to set up shop in the region, and many of those employees are finding it much cheaper to live in the region. Homes in the Phoenix area, for example, cost about one-quarter what they do in the San Francisco area...»
Harvard - which is owned by Cardinal Health - has expanded to more than 13,100 square feet of office space and now 60 employees...»

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