July 7, 2021

The U.S. economy gained 850,000 jobs in June and the unemployment rate rose to 5.9 percent, from 5.8 percent, a sign that the recovery of the world’s largest economy is building momentum after misses in April and May. Economists had expected gains of roughly 700,000 jobs and a drop of

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The US online grocery market posted $7 billion in sales this May, a drop of nearly 16% percent from $8.3 billion in May 2020, said a new report from S&P Global Market Intelligence. But at three times its total from August 2019, merchants remain optimistic it is a safe place to expand.

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The nation’s largest privately owned homebuilder has closed a $33 million deal to acquire 153 acres approved for 533 homes in Queen Creek. Mattamy Homes, which is based in Orlando, Florida, said the property — known as Empire Pointe, on the north side of

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KB Home bought 39.9 acres of land in Gilbert for $12,999,000, according to the commercial real estate tracking website Vizzda. The price breaks down to nearly $326,000 per acre. The land is located at the southwest corner of  Higley Road and Riggs Road in Gilbert.

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The city of Phoenix is seeking a developer to lease and develop a mixed-use project, which will include affordable or workforce housing, on a city-owned site near 14th and Jefferson streets. According to a request issued by the city, at least 50% of the apartment units in the

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July 6, 2021

Self storage facilities have become as American as Motherhood and Apple Pie. And ubiquitous, too. There are now more self storage locations than every Best Buy, Lowe’s, Home Depot, Walmart, McDonald’s and Subway stores put together, according to a new report from

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Lenders say they are seeing no shortage of debt capital available to finance multifamily properties today, which should continue through the remainder of 2021.James Flynn, CEO of Lument, says it’s difficult to find any fault with lending conditions year to date, with the first four

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The U.S. industrial market is continuing to perform, CommercialEdge’s June industrial report shows. Rents averaged $6.59 per square foot in May, marking a 4.4 percent increase over the year. Tenants have been paying a premium during the past year for new leases in nearly all

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The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, covering all nine U.S. census divisions, reported a 14.6% annual gain in April, up from 13.3% in the previous month. The 10-City Composite annual increase came in at 14.4%, up from 12.9% in the previous

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With the July 4th weekend nearly upon us, it’s time to reflect on all that we have been through in the past year and how, as a country, we have overcome so many daunting obstacles, including what we have been through in the housing market. The first thing that pops into my shriveled

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July 2, 2021

Commercial real estate advisory firm Newmark Group Inc. recently released a report examining challenges and opportunities resulting from the Covid-19 pandemic in nearly two dozen cities across the U.S. The report, called The Newmark Opportunity Index,

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Hines, the international real estate firm, is pleased to announce that pre-leasing has begun and hard-hat tours for potential residents of Adeline — the new luxury residential high-rise community at the Collier Center in downtown Phoenix — will start in

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A new report from the ULI Terwilliger Center and RCLCO Real Estate Consulting examines the evolution of the single-family rental and build-for-rent segments of the housing industry, which have grown exponentially during the COVID-19 crisis. According

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The latest forecast for the U.S. retail property market over the next few years is looking bullish, with the industry buoyed by a strong and fast-growing economy, pent-up consumer demand because of the pandemic, and the desire for shoppers to

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Home prices in April saw an annual gain of 14.6% in April — up from a 13.3% increase in March, per the latest S&P CoreLogic Case-Shiller National Home Price Index. Craig Lazzara, managing director and global head of index investment strategy at

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In effort to remain financially afloat amid the COVID-19 pandemic, AMC Entertainment Holdings Inc. (NYSE: AMC) has raised or signed commitment letters to receive $917 million of new equity and debt capital. The Leawood-based movie theater

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Land prices in the Buckeye area of Phoenix, AZ, are increasing rapidly. In one recent example, Arizona Land Consulting brokered the acquisition of a 36-acre parcel of land in a Buckeye opportunity zone for $7.1 million on behalf of a 1031 exchange

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A massive office and warehouse park, called Airpark Logistic Center, planned near the Phoenix Goodyear Airport could begin rising this fall. The project will include five buildings along Yuma Road and Bullard Avenue in Goodyear totaling 2.7 million square

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With the oldest of Gen Zs entering their prime renting years, it’s crucial for multifamily operators to know the preferences of the newest generation of renters and homeowners. Where do most of them want to live? Are they more inclined to rent or

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Home prices in April saw an annual gain of 14.6 percent, up from a 13.3 percent increase in March, according to the S&P CoreLogic Case-Shiller National Home Price Index, released on Tuesday. Among larger cities covered by the index, the

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July 1, 2021

The Scottsdale Plaza Resort, one of the largest hospitality properties in the Valley, was acquired by a partnership between premier hospitality management company Highgate and Boston-based real estate private equity firm Rockpoint Group. The transaction priced at

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Construction of the University of Arizona’s new $85 million, three-story Applied Research Building began as crews broke ground on the 89,000-square-foot facility. Located at the southeast corner of East Helen Street and North Highland Avenue, the ARB will house research that advances

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The exponential growth in e-commerce sales is a “misleading signal” for the industrial market, says Real Capital Analytics’ Jim Costello–and savvy investors should watch out for the inevitable slowdown. “The thing about exponential trends is that they only match into the future for some time,

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According to The Newmark Opportunity Index: Identifying Commercial Real Estate Opportunities and Challenges in Major U.S. Markets, a new white paper released recently by Newmark, Phoenix is one of the five hottest national real estate markets. The index assesses and ranks various geographic

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Several mall owners and retailers have reported strong growth over the last quarter, as the era of the “standard 80s-style mall” comes to an end and a new model of malls functioning as a town center comes into vogue. A new retail market outlook from JLL looks bright (for some companies,

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