Commercial Real Estate & Business News – March 10, 2016

Investors’ top pick among US metropolitan areas is Los Angeles, which elbowed New York City into second place. All other US “gateway” markets ranked high among investors, who also cited a preference for Dallas/Ft. Worth, Atlanta, Seattle and Denver. Outside the US, the top-ranking Americas market is Toronto, in fifth place...Read more »
Arizona’s economy is growing faster than the national average, a trend that Wells Fargo senior economist Mark Vitner sees continuing and rising in 2016. Arizona’s economy grew 2.2 percent in the fourth quarter, ahead of the national 1.7 percent real gross domestic product rate for the same period. The Arizona economy uptick is also bolstering local hiring and increasing labor stability... Read more »
The Phoenix East Valley region continues to welcome corporate relocations due to its pro-business culture, robust infrastructure and skilled workforce that are fueling new development and regional growth... Read more »
The environmental assessment is underway, but Valley Metro and the city still need to meet requirements for federal grant funding, which will demonstrate the project’s technical, financial and legal readiness. Last November, FTA approved initiation of the Project Development phase of the New Starts process... Read more »
And the blame forecast for the lack of inventory in 2016 already includes some of the usual suspects; move up buyers who can’t find move up homes and homeowners who are underwater or just barely above water on their mortgages. Add to that mix the many homeowners who actually have equity and can move up but are staying put and renovating instead... Read more »

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