JLL’s Capital Markets experts have arranged the sale and financing of a portfolio of six metro Phoenix apartment communities on behalf of a fund managed by DRA Advisors LLC of New York City and their joint-venture partner, Dallas-based Milestone Group. The buyer was a leading global institutional investor. DRA first bought the 1,751-unit portfolio in 2012.
Technology has affected banking and financial services and how they are evolving. Four themes have emerged to illustrate the rapidly changing industry.
- Integration, integration, integration!
With so many new lines of business, financial service companies became challenged on how best to integrate functions to be more efficient, serve customers at the highest … Read More
- Arizona’s purchasing power ranks No. 3 among western U.S. states, according to the BEA’s Regional Price Parity indicator based on the 2013 Consumer Price Index.
- California will increase its minimum wage to $15.00 per hour … Read More
For many brokers, real estate wasn’t always their career path. That is true for three JLL brokers featured in the most recent issue of Commercial Executive Magazine. In the article “The Most Interesting Executives,” JLL’s Executive Vice President Andrew Medley, Vice President Steve Larsen and Senior Vice President Rick Collins share details about their former athletic careers.
Medley and Collins have ties to the sport of golf,… Read More
Phoenix ranked the seventh “Hottest Apartment Markets in the U.S.” in a Zillow study based on new apartments being built, how fast those new units get rented and rental prices.
Over 5,700 new multifamily units have been completed in the Phoenix market thus far in 2015. With a… Read More
According to the BLS, total non-farm employment in Metro Phoenix reached 1,964,800 payrolls in February 2016, representing an annualized increase of 67,000 jobs or 3.5 percent. Meanwhile, unemployment continues to improve, decreasing to 4.6 percent,… Read More
Construction-related companies lead charge of mid-sized users
Although Phoenix has recovered all of the jobs lost during the recession, the construction employment sector is still more than 80,000 jobs away from its previous peak.… Read More
In a study of America’s fastest-growing cities, Phoenix ranked #15 among the 100 largest U.S. metropolitan areas. The rankings were based on estimated population growth, job growth, and gross metropolitan product growth.
After recording a 1.95 percent population growth rate in 2015, Phoenix is expected to grow 2.47 percent in 2016 alone.… Read More
Despite healthy absorption gains in 2015, vacancy in the Phoenix market remains above-average due to continued construction activity. However, concerns over the large amount of vacant space being delivered has resulted in a shift in the type of construction being started.
After delivering over 1.0 million square feet of vacant space to the market in 2015, developers are slowing speculative development, taking note of how long this vacant space stays on the… Read More
Steady absorption with continued Phoenix growth
The Phoenix metro area office market picked up where it left off at the end of last year. Built on a stable economic foundation of strong job growth and calculated construction, new office space is… Read More