Tag Archives: economy

How will the U.S. interest rate rise affect real estate?

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what-does-the-US-rate-hike-mean-for-real-estateWith U.S. interest rates rising from historic lows for the first time in 2006, real estate investors are fine tuning their strategies for a new chapter in the country’s economic recovery.

“This first move is as much psychological as it is financial and should be seen as a sign of strength and confidence in… Read More

Q1 Industrial Outlook: 2015 marks a turning point in the Phoenix economy

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The Phoenix economy exceeded expectations in 2014, and despite a seasonal slowdown after the holiday season, the first quarter of 2015 kicked off in the right direction as well. The core industries in the Valley, including financial services, tourism, and professional services, have been driving much of the growth. Phoenix is outperforming the Western U.S. in year- over -year nonfarm payroll growth and continues to see strong levels of hiring. Unfortunately, a few pockets of weakness continue to delay a full recovery in Phoenix. Construction and Manufacturing industries within the Valley are stagnant and have not added many new jobs since the recession. The single-family housing market has cooled and developers remain stubborn as new construction permits remain at record low levels. Demographic trends within the Phoenix metro area continue to defy limited new residential construction. The Valley is seeing population gains accelerate and are expected to exceed the historical average soon. A majority of growth stems from migration into Phoenix as evidenced by the fact that the local pool of residents grew nearly twice as fast as the nation’s in 2014. These demographic trends support growing household formation, labor force expansion, and additional residential construction in 2015.… Read More

Phoenix employment update: February 2015

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Slide 1Phoenix 12-month job growth ended the year in the December on a very positive note, adding over 49,000 jobs to the Valley.

Unsurprisingly, Professional and Business Services came in first, adding 18,328 new jobs over the last 12 months. Education and Health Services also continued its consistent growth, adding 12,726 new jobs. Another consistent theme seems to be the continued under-performing Construction and Manufacturing sectors which have lost 3,600 job cumulatively over the last year.… Read More

JLL, Roger Staubach predicting victory for New England on Sunday

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Roger Staubach

Roger Staubach, JLL Americas Executive Chairman

Oddsmakers see an even matchup in Sunday’s Big Game between the Seattle Seahawks and New England Patriots, but if commercial real estate statistics – and the view of a former title game MVP – are considered, Tom Brady should celebrate his fourth championship.

JLL and its Americas Executive Chairman Roger Staubach are predicting a victory for New England on Sunday. Watch as Staubach reveals his selection for the Big Game.

“The Patriots have been phenomenal all season, and Tom Brady is one of the all-time greats,” said Staubach, who took home MVP honors in the 1972 game. “I think you’ve got one of the best matchups we’ve ever had for Sunday’s game, and I expect Seattle, with their great quarterback that never quits, to play a fantastic game.”

“But this is the year the Patriots win another championship.”… Read More

Chart of the week: The real sports center

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Phoenix has received a large boost in tourism this month thanks to large sporting events across the Valley. In addition to the annual Waste Management Open, which was attended by a record 190,000 in a single day last year, the Pro Bowl, Super Bowl and associated events have made the Valley of the Sun the center of the sports world this week.… Read More

Chart of the Week: Phoenix office investment hotspots

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COW_Phoenix_January 12 BLOG

Improving economic conditions across the Phoenix metro have reinvigorated investor interest in the Valley’s office product. Not surprisingly, the top submarkets for investor activity are also submarkets that boast some of the lowest vacancy rates and highest demand in the Valley.

Click here for more market insight on our Phoenix research group web… Read More

Lack of supply, rising rents challenging law firm office norms

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Law Firm report image

Law firms face more supply constraints than companies in nearly any other industry. Why? Law firms typically target premium, Class A space in central locations—the tightest segment of U.S. office markets. With fewer space options, your firm may find itself battling with competitors not only for clients—but for desired space as well.… Read More

Phoenix Employment Update | October 2014

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October Phoenix Employment Update

As of October, Phoenix 12-month job growth has been a steady 2.3 percent. The Valley added 42,504 new jobs to maintain its consistent trend.

Education and Health Services continue to be the fastest growing sector in Phoenix adding 14,120 new jobs over the last 12 months. Office-using employment such as Professional and… Read More

Chart of the Week: America’s 10 fastest-growing retailers

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Click here for more market insight on our Phoenix research group web page: Phoenix – Research

Click to tweet:  #JLL‘s #ChartoftheWeek highlights some of the country’s fastest growing retailers. Find out who is #1 here: http://bit.ly/1oJzT9v

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Chart of the Week: Rent growth accelerating in the Valley of the Sun

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All product types are finally seeing rent growth in the Phoenix valley. The last time Phoenix saw rising rents across the board was in 2006 right before the economic collapse. As expected, Class C product dropped their rates the most during the recession, but all properties have been dropping rates… Read More