January 3, 2020

The total economic impact of Arizona hospitals in 2018 was $29.8 billion, according to a report released by the Health System Alliance of Arizona. Conducted by Rounds Consulting Group, the economic impact report shows Arizona hospitals had a total employment impact of 184,969 jobs, which represents about 7% of the state’s total 2.9 million

Read The Full Article...

The Center for Entrepreneurial Innovation – Maricopa Community College has signed a 10-year lease with Wexford Science + Technology to occupy 6,500 square feet at its Phoenix Biomedical Campus in the city’s downtown. Transwestern Commercial Services’ Managing Director Mark Stratz and Senior Vice President Scott Baumgarten

Read The Full Article...

December 30, 2019

Americans are one of the most mobile nations in the world, according to a global study led by researchers at the University of Queensland, Australia. U.S. citizens ranked third in terms of cross-country mobility among the 60 countries considered in the research, and their appetite for moving and seeking a new relocation destination is surpassed only by

Read The Full Article...

Arizona’s credit rating was upgraded by Moody’s Investors Service this month, thanks to a growing economy and recent budget policies that have built up a hefty rainy day fund. Governor Doug Ducey celebrated the announcement, saying in a statement the upgrade was “further validation that Arizona is going in the right direction and

Read The Full Article...

Arizona’s economy might be slowing, but two economists say the state should have a strong 2020. Lee McPheters, research professor of economics and director of the JPMorgan Chase Economic Outlook Center at Arizona State University, says the state is expected to add about 70,000 jobs in 2020. That’s compared with 74,000 in 2019 and

Read The Full Article...

More than 2.9 million square feet is underway in the Phoenix metropolitan area, with about 48% of the space available for lease. While cranes continue to fill the skyline of Tempe, Arizona, developers have turned their attention north, along the 101 to Scottsdale Airpark. About 731,000 square feet of office space is under construction in the submarket,

Read The Full Article...

The 13th Annual IREM-CCIM Economic Forecast, the premier real estate economic outlook each year, features one of the Valley’s top economic gurus, one of the Valley’s top education leaders and panels featuring the industry’s top experts. The event is scheduled for Friday, Jan. 17, 2020, at the Omni Scottsdale Montelucia, 4949 E. Lincoln Drive, Paradise Valley. Registration and

Read The Full Article...

If you are, like many other real estate professionals or landlords, considering using Proptech platforms which collect data, then this article is for you. In a business which is inherently focused on the physical world, cyber security may be a daunting concept. However, in the age of advanced analytics and GDPR, it’s increasingly important to

Read The Full Article...

The new apartments now opening tend to have fewer bedrooms spread over fewer square feet of space than just a decade ago. “They are getting smaller,” says Caitlin Walter, vice president of research for the National Multifamily Housing Council (NMHC). “Part of that is where apartments are getting built. ”As developers build more new

Read The Full Article...

Multifamily and commercial real estate have had a great year in 2019, and its only expected to get better in 2020 and beyond. Commercial and multifamily originations rose 24% in the third quarter this year from the third quarter of 2018 and 9% from the second quarter , a survey from the Mortgage Bankers Association

Read The Full Article...

Phoenix is No. 4 in the country when it comes to doctor job growth, according to a new report issued by Doximity. The U.S. Physician Employment Report 2019 examines the labor market for doctors in the top metros of the country. Demand for doctors across the country grew this year by 5% — and Phoenix’s growth as a major

Read The Full Article...

Mexico is Arizona’s top trading partner, accounting for about 30 percent of the state’s exports to foreign markets, according to an extensive ongoing study by the Eller College of Management at the University of Arizona. With that in mind, it’s no wonder that business leaders, trade experts and economists agree the cross-border

Read The Full Article...

For commercial real estate, a decade is an eon, and that is plenty of time for change in the industry. But with their beginnings in the Great Recession and their consistent, slow growth trajectory, the 2010s have brought some fundamental, lasting changes to commercial real estate. Some sectors have felt it more than others. The multifamily

Read The Full Article...

Take a character from Mad Men out of the 1960s and plop him down in most U.S. office spaces until about 2010 and — except for desktop computers and women in positions of authority — things would look pretty similar to him. Bring him forward to today, however, and he’d be in much less familiar terrain. Fundamental change

Read The Full Article...

As 2019 comes to a close, the US economy earns its highest ratings in almost two decades, potentially boosting President Donald Trump in matchups against the Democrats vying to face him in next year’s election, according to a new CNN poll conducted by SSRS. Overall, 76% rate economic conditions in the US today as very or

Read The Full Article...

Workplace designers now routinely include biophilic elements because research shows having a connection with nature is beneficial to both productivity and wellness. So, encouraging employees to venture outdoors for part of the work day is a logical next step, and the idea is catching on. The outdoor office trend is expected to

Read The Full Article...

America’s housing market was very interesting in 2019, with median home prices hiking to unprecedented levels. Unsurprisingly, the market has seen home prices climb up to about 60% since they last bottomed in 2012. The question that many real estate stakeholders and homebuyers are asking right now is whether or not home prices

Read The Full Article...

As the economy slows in the next year, commercial real estate demand may soften after a nearly decadelong run of growth. So says a new set of predictions from CoStar. Michael Cohen, vice president of CoStar’s Advisory Services, hosted a video webinar featuring analysis from a half-dozen of CoStar’s consultants. What they see for

Read The Full Article...

As 2019 heads to a close, commercial real estate fundamentals remain relatively healthy on the whole. Lower interest rates should aid valuations across most sectors and may bolster capital market activity in the months ahead. After a slow IPO environment in 2019, activity could pick up in 2020, bankers say, while merger and acquisitions

Read The Full Article...

Life insurance companies are holding their own in the competitive commercial real estate lending market and exhibiting a growing appetite for multifamily loan originations. According to the Mortgage Bankers Association (MBA), life companies originated $83 billion in commercial and multifamily loans in 2018. The Mortgage Bankers

Read The Full Article...

The new year is shaping up to be a good one for homebuyers—at least those interested in buying new homes. Not only are homebuilders more confident in the market than have been in 20-plus years, but recent construction numbers are surpassing expectations. In fact, according to the U.S. Census Bureau, residential building permits hit a

Read The Full Article...

A bankruptcy court ruling opened up nearly 5 square miles of land near Desert Ridge Marketplace. California-based Crown Realty and Development acquired 96.5 acres of the land and master developer rights to a total of 5,700 acres. Crown CEO Robert Flaxman was arrested later in the year in connection with a college bribery

Read The Full Article...

There’s a saying among economists that “expansions don’t die of old age.”In the case of the American economy over the past decade, it rings true. As of December, the U.S. economy has expanded for a record 126 straight months, the longest time period in the country’s history according to the National Bureau of Economic

Read The Full Article...

No one truly knows what the future will hold, but it doesn’t stop us from trying. Experts have stated their opinions of where the commercial real estate (CRE) market will go next year. Here are my five CRE predictions for 2020. The Federal Reserve took drastic measures in 2019 to keep our country out of a recession, including lowering

Read The Full Article...

Strong reads on the economy have researchers at mortgage giant Fannie Mae revising their 2020 housing forecast much higher. Fannie Mae’s Economic and Strategic Research Group predicts builders will expand production more than previously expected, due to a strong labor market and robust consumer spending. Low mortgage rates

Read The Full Article...