E-Zine for the Week Ending March 28, 2018
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Last week I was able to attend an economic forecast sponsored by Alliance Bank of Arizona. Christopher Thornberg provided his opinion on many facets of both the US and PHOENIX MSA economies. This “Blue Sky” report is fairly-well documented and provides a good overview.
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Against the advice of trade experts and members of Congress on both sides of the aisle, President Donald Trump has imposed tariffs on raw steel and aluminum that may set off a trade war. European and other trading partners, who are also U.S. allies, are already promising to retaliate with tariffs of their own on U.S. imports. While Trump’s tariff rhetoric has focused on China, less than 2 percent of that country’s steel exports are to the United States.
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PGIM Real Estate completed more than $8 billion in acquisitions, dispositions and debt investments in the U.S. last year. NREI recently talked with PGIM Real Estate’s Alfonso Munk, Americas CIO and head of Latin America, to hear more about the firm’s strategy and views on commercial real estate market opportunities in 2018. NREI: How does that $8 billion in transactions in 2017 compare to 2016?
Alfonso Munk: Overall, total transactions volume was flat compared to 2016. However, acquisitions were down around 15 percent, which is not inconsistent with what we have seen in total market volume for U.S. transactions in 2017,
which saw a 16 to17 percent decline
. We acquired about $3.7 billion and sold about $4.6 billion in assets. So overall, we were a net seller in 2017. In the prior year, we closed more acquisitions—closer to $4.4 billion with about $3.6 billion of dispositions.
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In 2015, when Chris Camacho took the reins of the Greater Phoenix Economic Council from longtime president and CEO Barry Broome, it seemed he had some big shoes to fill. Two years later, Camacho might need bigger shoes. According to GPEC, under Camacho the group has attracted more than 280 companies creating 47,011 jobs and $4.4 billion in capital investment. Some of the more notable projects include Apple Inc., Silicon Valley Bank, Zenefits, GoDaddy Inc., Yelp, Amazon.com, Garmin, General Motors and others. In this interview, Camacho address business growth in the West Valley.
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16,731 Units Under Construction
In addition to the 16,731 units currently under construction, there are 11,100 planned and 12,727 units noted as Prospective. That's a total of 40,560 units.
Email Jim for detailed list of new construction or use the map link above
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Map of Apartments Available
We keep track of all apartments advertised. The interactive map shows the location and quantity of units advertised in Phoenix Metro area.
CLICK HERE for a detailed list of Apartments Available or use the map link above.
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Kasten Long Commercial Group
Jim Kasten, CCIM - Designated Broker
602 445 4113 Office 602 677 0655 Cell
www.KLCommercialGroup.com
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