Sprouts Farmers Market and several other restaurants and customer-facing businesses are preparing to open in a recently completed shopping center in Mesa. Eastmarket at Eastmark, a 6.6-acre lifestyle center at the northeast corner of Ray and Ellsworth roads in east Mesa, was developed by Phoenix-based Common Bond Development Group, the firm behind the Global Ambassador Hotel, Park at 83 in Peoria and several neighborhood shopping centers around the Valley. Sprouts
Amkor Technology is dramatically expanding its Arizona footprint as a new strategic partnership with NVIDIA accelerates plans to build advanced semiconductor packaging capacity in the United States. The Tempe-based semiconductor packaging and test company announced Phase 2 of its Arizona advanced packaging and test campus after customer commitments surpassed the 33,000 square meters of cleanroom capacity planned for Phase 1. Phase 2 is expected to add
The nation’s largest homebuilder just scooped up 232 more lots at Estrella master-planned community in Goodyear. Arlington, Texas-based D.R. Horton Inc. (NYSE: DHI) secured the lots through its land banker, Hearthstone, which paid $32.712 million in cash to Scottsdale-based Harvard Investments Inc., the developer of Estrella, according to Tempe-based real estate database Vizzda LLC. Closing on Sept. 3, this lot acquisition represents the last lots purchased within
SkySong, The ASU Scottsdale Innovation Center, is continuing to attract significant new investment and expansion from growing companies, highlighted by Modern Wealth’s move to a 24,526-square-foot flagship office occupying the top floor of SkySong 5. The move follows Modern Wealth’s acquisition of Mesa-based Public Safety Financial/Galloway, a landmark transaction that significantly expanded the company’s presence in Arizona and strengthened its position in the rapidly
Phoenix-based RED Development scooped up a north Phoenix office complex poised for a conversion into an industrial park on September 3, according to Maricopa County property records. The site is off Interstate 17 and Thunderbird Road and is currently home to two vacant office buildings totaling over 500,000 square feet. In the 1960s it was a tech campus for General Electric, and then later for Honeywell, according to planning documents filed with the city of
U.S. hiring accelerated in August, but that headline offered a less decisive signal than the overall gain suggested. Employers added 162,000 jobs, well above economists’ expectations, and revisions lifted the combined June and July totals by 55,000. Even so, one month does not establish a trend. The composition of hiring, lingering weakness in office-using sectors and a continued slowdown in annual wage growth point to a labor market that is stable rather than broadly
For decades, a college degree has been one of the clearest paths to lower unemployment, higher earnings and greater spending power. That relationship still holds in the broad labor market. But among younger workers, a notable reversal has emerged that commercial real estate investors should watch. Since about 2023, younger workers without college degrees have posted better relative unemployment trends than young college graduates, according to an analysis by labor-market
The New York-based developer behind a 1 million-square-foot industrial park project in north Scottsdale is moving toward its next phase. Mack Real Estate Group filed two building permits Aug. 11 with the city of Scottsdale to build a pair of shell buildings, A and B, within the 124-acre Mack Innovation Park project off Loop 101 and Pima Road. The permits had a combined valuation of nearly $28 million. Building A’s permit had a valuation of $10.2 million for 97,205 square feet, and
Evergreen Development, a regional commercial real estate developer headquartered in Phoenix, has acquired an 11.7-acre parcel north of Signal Butte and Warner in Mesa’s Eastmark submarket to build a mixed-use community that pairs multifamily housing with new retail. The multifamily portion will include 261 units across nine three-story buildings. Residents will have access to an amenitized clubhouse, a resort-inspired pool, a fitness center, and outdoor gathering spaces with TVs, BBQ
Across the Phoenix metro, new apartments are shrinking — but the decline varies widely by city. Scottsdale holds strong with some of the nation’s largest apartment markets, while new apartments in Phoenix and Mesa are now smaller than they were a decade ago. New rentals have taken the biggest hit in Glendale and Tempe, losing roughly the equivalent of a master bedroom. Here are the details from the latest RentCafe report on apartment size in 100 metros: Scottsdale ranks 17th
A $90 million luxury car garage project is moving full steam ahead in north Scottsdale, as numerous similar projects in the area take shape. Demolition is set to begin Sept. 9 on the former Fender Musical Instruments Corp. headquarters at 17600 N. Perimeter Center Dr. to make way for Finish Line Auto Club’s first Arizona location, just four months after the company acquired the 10-acre property for $20.7 million. “We’re really looking to attract that collector and enthusiast that’s
At the beginning of the year, the city of Tempe was given approval to acquire two historic buildings on Mill Ave., including the space where a popular live music venue once operated. Now the city is taking steps to bring new tenants to those buildings. Tempe City Council held public hearings Aug. 31 for ordinances that would allow the city to “negotiate and execute a lease agreement” for the Tempe National Bank building at 526 S. Mill Ave. — built in 1912 — and the Tempe Hardware
Commercial real estate investors have entered the second half of the year looking for a clearer path toward lower borrowing costs and a steadier transaction market. Instead, they are facing a capital-markets picture that has become more uncertain on two fronts. The Federal Reserve’s next decision remains tied to inflation and labor-market data, while long-term Treasury yields are being pushed higher by concerns that extend well beyond near-term monetary policy. Even if the Fed
A rising project in downtown Gilbert announced Tuesday a handful of new restaurant tenants. Heritage Park — a 10-acre, mixed-use development that spans an entire city block at Gilbert Road and Juniper Avenue and is being developed by Phoenix-based real estate development firm Creation — will soon be home to Popup Bagels, La La Land, Hudson House and Salt & Straw. National fitness brand [solidcore], also leased a space in the new development. The newly announced tenants
A handful of new battery energy storage system facilities are on tap around metro Phoenix as demand swells for power needed to operate future data centers while ensuring grid reliability. Right now, Arizona is leading the country for battery storage capacity growth, with 6.2 gigawatt-hours added in the second quarter of this year, according to a U.S. Energy Storage Market Outlook report by the Solar Energy Industries Association and Benchmark Mineral Intelligence. Two projects in the
State business and political leaders have been trading salvos this week over the possibility of a statewide moratorium on data center construction to address community concerns. Gov. Katie Hobbs shared her thoughts on the idea at a press conference on Thursday. “I don’t think a statewide moratorium is the answer. I think there are places where data centers make sense, and they’re an important part of the high-tech economy that we’re growing here. We need to make sure that
U.S. construction cost pressures are shifting from labor to materials, with construction-related commodity prices rising 13.3% year-over-year as tariffs, metals supply constraints and demand from data centers and infrastructure projects push input costs higher, according to Cushman & Wakefield’s latest Construction Insights for Global Occupiers report. The increase in commodity prices is more than 4.7 times the rate recorded a year earlier, led by aluminum at 40.9%, copper base scrap at
One of Phoenix’s oldest shopping centers is gearing up for a potentially major transformation. Developers are in the process of setting up a portion of Camelback Colonnade for a new 216-unit multifamily project. The owners of the complex, Federal Realty Investment Trust and RED Development, are targeting a 2.5-acre portion on the southwest side of the shopping center, which is located at Highland Avenue and SR 51. It includes an underutilized parking lot and a Phoenix Public
Arizona’s housing market continues to make a strong showing on the national stage, with five Valley cities ranking among the 50 best real estate markets in the country, according to a new WalletHub analysis. Gilbert leads the Arizona contingent at No. 13 nationally, followed by Surprise at No. 27, Peoria at No. 42, Tempe at No. 46 and Chandler at No. 50. WalletHub compared 300 U.S. cities across 17 indicators measuring housing-market attractiveness and economic
A prominent local real estate investor has unveiled a plan for a development an hour west of Phoenix that could include a movie production studio, amusement park, hotels, retail and a sprawling data center campus. Anita Verma-Lallian, CEO of Arizona Land Consulting, is setting up a swath of land off Interstate 10 and 411th Avenue in Tonopah for the project. A rendering produced by Gensler depicts both an amusement park and an indoor theme park alongside a host of other
A high-end hotel will be the next phase of Cannon Beach, a development in Mesa that includes a surfing beach, swimming, dining and other family entertainment. Cole Cannon, the developer of Cannon Beach, said the hotel, a Tapestry by Hilton, will “really round out the Cannon Beach experience.” Cannon said adding the 130-room hotel makes the project an easy vacation or staycation spot for families, because there are many activities for various ages
Clark Pacific announced it has broken ground on a new manufacturing plant in Coolidge, Arizona. The plant, which will span 110 acres when complete, will be constructed in phases, with the final phase scheduled for completion by spring 2027. Clark Pacific will begin manufacturing prefabricated building systems immediately in a temporary facility while construction moves forward. Once complete, the new facility will triple Clark Pacific’s production capacity. As the industry faces labor
Owner Zinke Investments LLC, led by Craig and Chris Zinke, is planning a 1,517-acre data center, energy and industrial campus southeast of Porter and Barnes roads near Standfield. The owner has requested a major Comprehensive Plan amendment for 956 acres of the site, which would redesignate the land from Moderate Low-Density Residential to Employment. The remainder of the planned Arizona Independent Technology Campus site already carries an Employment designation. Once
Knowing the Top 10 homebuilders in Arizona, based on public opinion, gives prospective buyers valuable insight into the companies earning trust and recommendations from consumers. These rankings go beyond size and sales, highlighting builders that have developed strong reputations for quality, customer service, craftsmanship and overall homebuying experiences in Arizona’s competitive housing market. Here are the Top 10 homebuilders in Arizona for 2026, based on
The Arizona economy remains resilient as it navigates evolving conditions, but it is increasingly characterized by mixed labor market conditions and slower growth. The labor market improved from dismal job growth in late-2025, but job gains were concentrated in a few sectors as employers stayed cautious about hiring. Elevated gasoline prices due to conflict in the Middle East caught highly automobile-dependent Arizonans off guard. However, retail sales have continued to grow