Trends

Source: Rider Levett Bucknall  International property and construction consultancy firm Rider Levett Bucknall has released its latest RLB Crane Index and Quarterly Cost Report. Together, the two documents provide an insightful look at the North American construction industry in 14 key markets.  “The pandemic-induced recession is going …

By Rebekah Morris for AZBEX  On Wednesday, September 30th, 2020, more than 100 people logged on to the most recent Leading Market Series (LMS) event presented by BEX, which explored the topic of Alternative Project Delivery Methods (APDM) contract usage by public owners. Since 2000, HB2340 enabled …

By Les Shaver for GlobeSt.com  As COVID-19 forced lockdowns across the country, the amount of vacant sublease increased in the first half of 2020, according to new figures from Cushman & Wakefield.   C&W monitored activity across 83 office markets …

By Rayna Katz for GlobeSt.com  Given corporate America’s reluctance to return to offices rather than work from home, current conditions in office properties—and the likely near-term future—are looking bleak. Looming excess supply on the horizon …

Source: JLL  COVID-19’s impact on public safety and stay-home orders drove significant demand for immediate digital connectivity around the world. JLL’s 2020 Mid-Year Data Center Outlook finds data centers’ resiliency and reliability established the sector as one of …

By Tasha Anderson for AZBEX  Arizona’s seasonally adjusted unemployment rate decreased to 5.9 percent in August 2020, from July 2020, according to the latest report published by the Arizona Office of Economic Opportunity.   The national rate decreased to 8.4 percent from 10.2 percent in July. In August 2019, the state had a seasonally adjusted rate of 4.6 percent, and the national was …

By Les Shaver for GlobeSt.com  While many CRE sectors and product types have floundered after COVID-19 hit, one industry has continued to flourish.  In the second quarter, cap rates for dollar stores fell a 12-basis point decrease …

By Gabriela Rico for Arizona Daily Star Investor interest in Tucson’s upper-end apartment complexes has been high for several years and, while there was some breath-holding at the start of the pandemic, millions of dollars …

Source: Associated Builders and Contractors  Construction industry employment expanded by 16,000 jobs on net in August, according to an Associated Builders and Contractors analysis of data released by the U.S. Bureau of Labor Statistics. Over the last four months, the industry …

Source: Associated Builders and Contractors  National nonresidential construction spending fell 1.2 percent in July, according to an Associated Builders and Contractors analysis of data published by the U.S. Census Bureau. On a seasonally adjusted annualized basis, spending totaled $809.1B for the …

By Tasha Anderson for AZBEX  Arizona’s seasonally adjusted unemployment rate increased to 10.6 percent in July 2020, from June 2020, according to the latest report published by the Arizona Office of Economic Opportunity.   The national rate decreased to 10.2 percent from 11.1 percent in June. In July 2019, the state had a seasonally adjusted rate of 4.7 percent, and the national was …

Source: Colliers International  As cases of coronavirus and hospitalizations rose in Greater Phoenix following Memorial Day weekend, the area’s second quarter of real estate market activity was also surging. The medical office market posted its strongest quarter …

Source: Associated Builders and Contractors  The U.S. economy contracted at an annualized rate of 32.9 percent during the second quarter of 2020, according to an Associated Builders and Contractors analysis of data by the U.S. Bureau of Economic Analysis. …

Source: 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 April 1st, 2020 and featuring construction cost information for 14 US and Canadian markets, the QCR provides …

Source: NAHB Now  In a strong signal that the housing market is ready to lead a post-COVID economic recovery, builder confidence in the market for newly-built single-family homes jumped 14 points to 72 in July, according to the …

By Tasha Anderson for AZBEX  Arizona’s seasonally adjusted unemployment rate increased to 10 percent in June 2020, from May 2020, according to the latest report published by the Arizona Office of Economic Opportunity.   The national rate decreased to 11.1 percent from 13.3 percent in May. In June 2019, the state had a seasonally adjusted rate of 4.8 percent, and the national was …

Source: Colliers International  The Greater Phoenix industrial real estate market remains healthy, despite business conditions during the pandemic. America’s growth in online purchasing is driving expanded demand for warehouse/distribution space.  Net absorption of industrial space peaked …

Source: Colliers International   The Greater Phoenix office market remained relatively healthy during second quarter, despite business interruptions caused by Stay-at-Home orders and impact of coronavirus. The office sector posted its 33rd consecutive quarter of positive net …

By Bendix Anderson for National Real Estate Investor  Heading into 2020, a robust development pipeline and rising costs of construction material and labor were major concerns for the multifamily sector. The economic devastation wrought by the COVID-19 shutdowns has put …

By Tasha Anderson for AZBEX  Arizona’s seasonally adjusted unemployment rate decreased to 8.9 percent in May 2020, from April 2020, according to the latest report published by the Arizona Office of Economic Opportunity.   The national rate decreased to 13.3 percent from 14.7 percent in April. In May 2019, the state had a seasonally adjusted rate of 4.8 percent, and the national was …

Source: Associated Builders and Contractors  Construction input prices rose 0.8 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 data released today. Nonresidential construction input …

Source: Marcum LLP  The Marcum Commercial Construction Index for the first quarter of 2020 reports an industry suffering the adverse effects of COVID-19.  Construction employment fell by nearly one million jobs from March to April 2020, a decrease …

Source: Associated Builders and Contractors  National nonresidential construction spending decreased by 1.8 percent in April, according to an Associated Builders and Contractors analysis of data published by the U.S. Census Bureau. On a seasonally adjusted annualized basis, spending totaled …