December 6, 2021

“There are 101 ways to measure inflation,” write Cushman & Wakefield’s David Bitner, Kevin Thorpe and Rebecca Rockey, who add that in the current environment, the median consumer price index is an especially telling barometer.  The median CPI is now

Read The Full Article...

Nikola Corp. (Nasdaq:NKLA), the hydrogen and electric semitruck manufacturer, bought its headquarters for $25 million, according to real estate database Vizzda. The company bought the 200,000-square-foot building at

Read The Full Article...

A joint venture of two real estate developers based in Orange County, California, has acquired a 54-acre parcel in Buckeye, Arizona, where it plans to build a logistics park.Irvine, California-based Shopoff Realty Investments and Contour Real Estate, a privately held real estate investment and development firm based in Costa Mesa, California, plan to build

Read The Full Article...

As inflation continues to push up the price of consumer goods, shoppers from higher income levels are starting to abandon their regular grocery store in favor of a new favorite: the dollar store.These no-frills retail stores, where shoppers can buy everything from cotton underwear to toothpaste for around a dollar, have traditionally served low-income and rural shoppers with

Read The Full Article...

Following a strong showing in October, a somewhat disappointing U.S. jobs report released Friday shows that 210,000 non-farm jobs were added in November, bringing the unemployment rate down to 4.2%. While this is a 0.4% decrease in unemployment, the

Read The Full Article...

Service-oriented businesses such as banks, retailers and drug stores grew in November at the fastest pace on record, a new survey showed, even as companies grappled with major shortages of labor and supplies.The Institute for Supply Management’s services PMI climbed to 69.1% last month from 66.7% in October, marking the biggest increase on record. The survey results

Read The Full Article...

The year ahead is likely to see further improvement in commercial real estate markets as the economy continues to recover from the Covid-19 pandemic. There are both upside and downside risks to the outlook. Here are the top ten developments to follow, ranked in order of increasing importance

Read The Full Article...

The number of higher-income Millennials who are renting instead of buying a home is on the rise, says RentCafe. In fact, this age cohort is behind the recent boom in lifestyle renting. They saw a 20% rise in rental applications, more than any

Read The Full Article...

Early signs point to a record holiday season for retailers.That’s according to National Retail Federation chief economist Jack Kleinhenz, who said 2021 holiday season appears to be on track to exceed the group’s  forecast for record spending despite supply chain disruptions, inflation and the new COVID-19 omicron variant.“Now that we’re in December, the

Read The Full Article...

In-store sales accounted for 64% of all retail transactions in September, highlighting the ongoing relevance of bricks-and-mortar locations as the pandemic wanes.Data from The NPD Group reveals that while e-commerce growth exploded during the pandemic – with year-over-year revenue growth exceeding 40% every month from

Read The Full Article...

December 2, 2021

If you have been watching the real estate market in Arizona, it is no surprise that we have seen a sharp increase in home prices for the past 20 months. One factor that home buyers are considering is the price per square footage. Even since last year, where the market had incredible growth, we are seeing a 20 to 30% price per square foot increase across

Read The Full Article...

You can find build-your-own rice bowls, order Thai boat noodles and sample local brews at the newest restaurants and bars in town. Explore seasonal offerings from the Chanukah menu at a new Chompie’s in Paradise Valley to Cider Corp’s Winter Fruit Salad brew at Tap Dragon in Gilbert. Heading to a Cardinals game? Eric’s Family Barbecue in

Read The Full Article...

Dallas-based industrial development firm Urban Logistics Realty has expanded into the Southwest region with a new office and director in Phoenix.Urban Logistics Realty, which started nearly three years ago, is led by co-owners and managing partners Adam Herrin and Jason Nunley, who have about 35 years combined experience in

Read The Full Article...

The Crossroads Towne Center in Gilbert, Arizona, one of the most popular areas in greater Phoenix for investors to buy retail property in recent years, traded for more than $50 million. Vestar, a private shopping center developer based in Phoenix, sold

Read The Full Article...

Rob Behr moved to Tonopah for space.The 66-year-old with autism was sometimes misunderstood, which he said led to antagonistic encounters. So he left Mesa five years ago for the tiny speck on the map some 25 miles west of Buckeye. Life is

Read The Full Article...

December 1, 2021

A mixed-use development with a focus on community spaces and higher-end retail and restaurants is getting ready to start construction in Gilbert, just north of the SanTan Village shopping center. The project, which

Read The Full Article...

Healthcare facilities in the West Valley are booming, but with more buildings comes fewer medical professionals to fill the spots that are needed. The West Valley is the fastest growing part of

Read The Full Article...

WASHINGTON – Chair Jerome Powell said Tuesday that the Federal Reserve will consider acting more quickly to dial back its ultra-low-interest rate policies to counter higher inflation, which Powell acknowledged will

Read The Full Article...

Phoenix home prices are expected to rise 6.8% in 2022, according to a housing market forecast released Wednesday by Realtor.com.The projected increase is based on a recent median home price in the

Read The Full Article...

The Federal Housing Finance Agency (FHFA) today announced the baseline conforming loan limit for 2022 will be $647,200, an increase of 18%.The federal government will now back mortgage loans of

Read The Full Article...

November 30, 2021

The Greater Phoenix Chapter of the Institute of Real Estate Management (IREM), an international community of real estate managers dedicated to ethical business practices, has announced its leadership and board members for

Read The Full Article...

The U.S. industrial market set new records across multiple key performance indicators, according to Transwestern’s third quarter U.S. Industrial Market report. More than 540 million square feet of net absorption was

Read The Full Article...

WASHINGTON – Arizona’s unemployment rate continued its steady decline in October, falling to 5.2%, down a full percentage point from just two months earlier and almost one-third of the state’s pandemic high, according to

Read The Full Article...

Led by metro areas in Florida and the Pacific Northwest, average monthly apartment rents increased 13% nationwide over the past year, the highest growth rate in at least two years, according to

Read The Full Article...

At its Dec. 1 meeting, Mesa City Council will be asked to approve projects that will continue to reshape the landscape of southeast Mesa: Cannon Beach, the Hub at 202 and Project Cork. The Cannon Beach wave-pool development on

Read The Full Article...