National
Private Employers stepped up Hiring
Ahead of the big June jobs report the Labor Department will release in Washington Friday, payroll firm ADP estimates private employers added a healthy 158,000 jobs last month, more than four times the 38,000 new jobs ADP reported in May. Read the rest of this story
Commercial Real Estate Recovery Continues
Commercial real estate (CRE) fundamentals continued to strengthen in the second quarter of 2011, albeit at a much more moderate pace than the end of last year. The temperate recovery is consistent with global economic trends, which softened in the first half of the year in the face of the Japanese earthquake and the oil-price shock. Read the whole article
Flow of Real Estate capital Surges
Companies and funds reported raising $35.48 billion from investors in the second quarter for real estate-related deals and refinancings. Read more at Costar.com
Clark County & Vancouver
Downtown Vancouver’s Al Angelo Building has landed three new office tenants and its owners expect to use build-out incentives to fill the five-story structure within the next year. Read the enitre Columbian article here
Last month, Vancouver’s favorable AA/Aa3 credit rating was reaffirmed by both Standard & Poor’s and Moody’s rating reports – something that city officials said can be used to bring business to the region.
“That credit rating means we’re responsible,” said Alyssa Pyszka, business development manager for the city of Vancouver. “If you’re looking for a stable and responsive government, that’s what that [credit rating] means, as opposed to what you might find in California or Illinois.” Read the enitre VBJ article here
Garrison square gets new Owner
An exterior face-lift and new business tenants could be part of the future for Vancouver’s Garrison Square, which sold recently to real estate developer Killian Pacific. Read the rest of the article here:
Restaurant operators report declining sales
Recent reports suggest what most restaurant owners already know. Lower sales and customer traffic signal a softer outlook for the industry both nationally and in Washington. Read more here
