Commercial Real Estate & Business News – June 2, 2016

Express Scripts, an integrated pharmacy benefit management service which bundles and ships more than 1.3 billion prescriptions annually, has signed a lease for 81,300 square feet of industrial space at the Liberty Center at Rio Salado building at 2040 W. Rio Salado Pky in Tempe, AZ. Built in March 2016, the 215,000-square-foot warehouse is now 82 percent leased. Constructed to meet LEED Silver certification, the property features...Read more »
The Tucson area could see job growth double this year from 2015 levels, signaling the region's belated emergence from the Great Recession. Tucson should see about 1.7 percent job growth by year's end, and wages could pick up as well, said George Hammond, director of the Economic and Business Research Center in the Eller College of Management at the University of Arizona. The region has done notably better in recent months and is now hurt less by government cutbacks... Read more »
Phoenix gained the fourth most construction jobs among U.S. metro areas over the last year. Arizona’s unemployment rate for the construction industry is down to 6.8 percent.But there are roughly half the number of construction workers in the state as compared to before the recession. New numbers from the Associated Builders and Contractors pegs the unemployment rates for construction workers and tradesmen in Arizona at 6.8 percent...Read more »
The real estate market is coming back, but it is not a traditional real estate market. Instead, it is a new age market with different needs and consumer wants, with luxury leasing and non-traditional residents at the forefront. As a way to attract those non-traditional and luxury residents, as well as for employers to hire and retain top-level talent, mixed-use projects are incorporating a live-work-play environment into new projects... Read more »
Santa Ana, California-based Nekter Juice Bar is looking to expand its presence in metro Phoenix. The juice bar already has eight locations throughout the Valley, and employs slightly more than 100 people. Steve Schulze, president and CEO of Nekter, said the concept is looking to "double down" on its Phoenix footprint, with somewhere between 18 to 22 additional locations opening over the next 18 months, bringing its Arizona employment numbers to well over 200... Read more »

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