Trends

By Tasha Anderson and Rebekah Morris for AZBEX  Arizona’s seasonally adjusted unemployment rate increased to 6.8 percent in June 2021, from 6.7 percent in May 2021, according to the latest report published by the Arizona Office of Economic Opportunity.   The national rate increased to 5.9 percent from 5.8 percent in May. In June 2020, the state had a seasonally adjusted …

By Rider Levett Bucknall International property and construction consultancy firm Rider Levett Bucknall has released its new Quarterly Cost Report for North America. With data current to mid-Q2 2021 and featuring construction cost information for …

By Anchor Health Properties   In collaboration with Intuitive Health and HonorHealth, Anchor Health Properties has recently commenced a local, long-term development and expansion initiative.   Through the addition of strategically located facilities in and around Phoenix, Anchor, Intuitive, and HonorHealth are focused on improving …

By Kidder Mathews and AZBEX Staff  The Phoenix Industrial market continued to set records in the Second Quarter, with the Kidder Mathews Phoenix Industrial CRE Market Update reporting record highs in net absorption, rental rates and construction activity, and record …

By Kidder Mathews and AZBEX Staff  Kidder Mathews, in its recent Phoenix Office CRE Market Update for Q2 2021, reported the Phoenix office market continues to see record office sublease availability.  Rental rates also reached a record high …

Every state and the District of Columbia saw increases in their real gross domestic product in Q1 2021 versus Q4 2020. Data from the U.S. Bureau of Economic Analysis, shows a range of 10.9 in Nevada to 2.9 percent for DC.  Nationwide GDP growth …

By Associated Builders and Contractors  National nonresidential construction spending declined 0.7 percent in May, according to an Associated Builders and Contractors analysis of data published by the U.S. Census Bureau. On a seasonally adjusted annualized basis, nonresidential spending totaled $784.5B for the month.  Spending …

Tight vacancies and high demand are sparking bidding wars for industrial space across the U.S., driving both asking rent and taking rent growth to new highs, according to a new report from CBRE. Asking rents increased …

By CBRE With e-commerce penetration expected to grow to 26 percent of all retail sales by 2025, the U.S. will need an additional 330MSF of distribution space just to handle the increase in online ordering …

By Tasha Anderson and Rebekah Morris for AZBEX Arizona’s seasonally adjusted unemployment rate remained at 6.7 percent in May 2021, from April 2021, according to the latest report published by the Arizona Office of Economic …

By Tasha Anderson for AZBEX Arizona’s seasonally adjusted unemployment rate remained at 6.7 percent in May 2021, from April 2021, according to the latest report published by the Arizona Office of Economic Opportunity. The national …

By Associated Builders and Contractors Construction input prices increased 4.6 percent in May compared to the previous month, according to an Associated Builders and Contractors analysis of U.S. Bureau of Labor Statistics’ Producer Price Index …

By CBRE Investment in U.S. net-lease properties was close to pre-pandemic levels in Q1 2021, driven by robust sentiment, 1031 exchange requirements, increased interest in office assets as return-to-the-workplace plans gained momentum and, despite COVID-19-related …

By Associated Builders and Contractors The construction industry lost 20,000 jobs on net in May, according to an Associated Builders and Contractors analysis of data released by the U.S. Bureau of Labor Statistics. Overall, the …

By Tasha Anderson for AZBEX Hospitality was one sector that was hit the hardest during last year’s shutdown; however, hotel occupancy rates and demand for more hospitality projects are headed back to normal as restrictions …

The National Federation of Independent Businesses has reported 44 percent of companies have job openings they cannot fill. The number is an all-time high for the survey. A recent report from The Conference Board, entitled, …

By Rebekah Morris for AZBEX  Rapid Increases in Lumber, Steel and Raw Materials Lead to Significant Project Cost Spikes.  The biggest story in the Arizona construction market has been the rapid cost escalation of construction materials prices since …

By Colliers in Arizona  The first quarter of 2021 brought positive net absorption to the Greater Phoenix retail market, according to a report released by Colliers in Arizona. Absorption pushed vacancy down and rental rates continue showing …

Data center construction in the Valley is continuing its rapid upswing from recent years, due in part to a business-friendly environment, dry weather and the region’s low risk of natural disasters.  Absorption rates are up 38 percent …

By Tasha Anderson and Rebekah Morris for AZBEX Arizona’s seasonally adjusted unemployment rate remained at 6.7 percent in April 2021, from March 2021, according to the latest report published by the Arizona Office of Economic …

By AZBEX Staff and RENTCafé As one of the nation’s fastest growing apartment markets, Phoenix has also experienced massive growth in self-storage development. RENTCafé’s most recent self-storage report shows the local market has expanded by …

By Associated Builders and Contractors Construction input prices increased 1.3 percent in April compared to the previous month, according to an Associated Builders and Contractors analysis of U.S. Bureau of Labor Statistics Producer Price Index data. …

By Associated Builders and Contractors Associated Builders and Contractors has reported its Construction Backlog Indicator rose to 7.9 months in April, according to an ABC member survey conducted April 20th-May 5th, 0.1 months higher than in …