Commercial Real Estate & Business News April 23, 2018

ULI's survey respondents predict that this year U.S. GDP growth will reach 2.8 percent, up from the 2.3 percent growth seen last year. Real estate economists and analysts see strength in the U.S. economy over the next few years, which should translate into strong-albeit moderating-results for the commercial property sector....»

Construction started this week on a new development in north Phoenix that will be home to the new headquarters of Phoenix-based patio and pool supply company Today's Patio. The company will relocate its headquarters, warehouse and showroom into a 75,000-square-foot space in the new industrial building development at 24400 N. 19th Ave. in Phoenix....»

One of the hottest topics among lawyers, real estate brokers and developers around Arizona right now is a seldom-discussed part of the Tax Cuts and Jobs Act that congress passed in December 2017. In just a few pages, the law created a new program meant to spur economic development and create an opportunity for people to avoid paying capital gains taxes....»

There is no danger that demand for data centers will contract anytime in the near future, or even in the foreseeable future, according to the speakers on the Future of Infrastructure panel at Bisnow's recent Phoenix Data Centers event. The challenge for data center owners and operators will be providing the speed and location that the market is demanding...»

Mesa will sink $10 million into improvements along Elliot Road from Ellsworth to Signal Butte roads to alter the stretch into a "technology corridor." The changes will expand Elliot from a single-lane road to a three-way stretch in both directions. The area, once just another vast stretch of Arizona desert, is now home to some of the fastest growing residential communities in metro Phoenix...»