Lee & Associates - Arizona | Week in Review | Friday, May 27, 2016
Arizona's economy is shining brighter than overall U.S.
Arizona’s 9.7 percent growth in jobs since 2009 tops the national rate of 9.3 percent.
PhoenixMart, Outlet Center to Move Ahead
PhoenixMart is a 1.6 million-square-foot international trade and exposition center that is promoted as the Western Hemisphere’s largest merchandise marketplace, offering a worldwide cross-section of thousands of businesses in one location. AZ Sourcing says two of its Pinal County projects are moving forward.
Sports Authority shutting down all locations
Sports Authority, in planning to close all of its stores and is set to launch its going-out-of-business sales this week, according to court documents. AZ CENTRAL
Why John Hancock Investments picked Tempe for new regional office
A solid workforce, western time zone and quality of life are three of the top reasons Tempe won out over two other cities as the western regional office for John Hancock Investments. PHOENIX BUSINESS JOURNAL
NATIONAL & INTERNATIONAL NEWS
Apartment REITs Continue Their Selling Spree
Apartment REITs continue to cash in on their highly-priced properties as they prune their portfolios.
Miami Tower Trades for $220M
LaSalle Investment Management has sold the 631,672-square-foot, Class A, Miami Tower to Sumitomo Corp. of the Americas for $220 million. HFF represented the seller in the transaction. CONNECT CRE
RECon Recap: Shopping Center Owners, Store Chains Deal With Contradictions of Shifting Retail Landscape
Amid Frenetic Activity In Crowded Convention Halls, Retailers and Landlords Spoke of 'Playing Defense,' 'Adjusted Expectations' Even As Shopping Center Fundamentals Remain Strong. COSTAR
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