DAILY TOP 5

U.S. manufacturing job announcements and capital investment are rebounding sharply after months of plateauing earlier in 2026, Savills reported Tuesday. The firm’s latest Manufacturing Pulse cited 78,117 jobs and nearly $70 billion in capital investment announced over the trailing 12 months, for year-over-year increases of 46.6% and 108.3%, respectively. At the same time, the “stall rate” of projects being delayed or canceled reached a two-year low in August. Defense and AI

The long-anticipated wave of commercial real estate distress has not arrived evenly across the market. But a subset of multifamily loans originated in 2021 is showing clear signs of strain, creating a potential opening for investors equipped to buy properties or debt at a discount. CRE CLO distress reached 28% in August, up from 19% in July, according to CRED iQ data cited by The Wall Street Journal. Because CRE CLOs typically carry floating rates, borrowers are particularly exposed

A new report by Placer.ai shows how Trader Joe’s and Aldi, two grocers from similar backgrounds, differ when it comes to bringing traffic in. Trader Joe’s belongs to Aldi Nord and Aldi’s U.S. stores are owned by Aldi Sud, two companies formed after their German parent business split in the 1960s. The steady drumbeat of inexpensive limited releases make the biggest visit splashes for Trader Joe’s. When Trader Joe’s shrank their signature canvas tote bag in early 2024, for example, the

RentCafe’s annual Best Cities for Renters report analyzes 20 key metrics across 150 U.S. cities — from cost of living and job growth to walkability and community engagement — giving renters a data-backed resource for deciding where to move next. Scottsdale climbed eight positions to reach #7 nationally and overtake Gilbert which now sits at #13, while Phoenix proper is at #71 — making the metro one of the most compelling examples of how a single market can deliver

The Federal Reserve’s quarter-point increase to a 3.75% to 4% target range began its first tightening campaign since July 2023, with policymakers signaling that at least one more increase may be needed before year-end. Past hiking cycles have ranged from modest adjustments to the aggressive inflation-fighting campaigns of the 1970s and early 1980s. Larger and faster cycles were more likely to precede recessions, although a recession was not inevitable. History offers no single

Stocks fall, with the Nasdaq and S&P 500 retreating from record territory as bond yields suddenly jump All eyes were on the jolt higher in U.S. Treasury yields on Wednesday after economic data on the manufacturing front surprised to the upside, sending a shock through the world’s most important bond market. The all-important benchmark 10-year Treasury yield TMUBMUSD10Y 5.116% surged 14.7 basis points to 5.113%, its highest level since July 2007, according to Dow Jones

Office buildings are a defining symbol of American life, serving as concrete representations of corporate culture and U.S. economic might. But when the pandemic upended the status quo, business leaders began to reconsider what the true purpose of their offices should be. How companies initially responded varied, and some have adopted new positions as the crisis of 2020 slips further into the past — even if the aftershocks are still influencing the Valley’s office market. “We had

Wespac Construction has completed the new Sprouts Farmers Market support office and flagship store at CityNorth in Phoenix, delivering a long-term home for one of Arizona’s most recognized public companies and adding a new public destination to the fast-growing North Phoenix district. The project totals approximately 186,000 SF  at 20555 N. 55th St., near the Loop 101 and 56th Street. It includes an approximately 145,000 SF corporate headquarters, a 25,000 SF flagship Sprouts

RentCafe ranked Scottsdale No. 7 among the best U.S. cities for renters in its 2026 report released last week. Evaluated 150 cities with at least 10,000 apartment units using 20 key metrics across three categories: cost of living and housing (weighted 40%), local economy (weighted 35%) and quality of life (weighted 25%). Specific metrics include walkability, average apartment size and renter income growth. McKinney, Texas, took the top spot for the second year in a row. The South

Commercial and multifamily mortgage loan originations were 16 percent higher in the second quarter of 2026 compared to a year earlier, and increased 12 percent from the first quarter of 2026, according to the Mortgage Bankers Association’s Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations. Commercial and multifamily mortgage lending maintained its upward trajectory in the second quarter as improving capital markets and stronger transaction

Blue Owl Capital acquired an 881,513 square-foot distribution warehouse in Tolleson for $85,273,973 on September 15, according to real estate database Vizzda. The property spans almost 85 acres and is located at the southwest corner of 99th Avenue and Van Buren Road. The facility was built in 1995 and currently operates as an Albertson’s distribution center. The seller, BrightSpire Capital, purchased the facility in 2018 for $83,021,252. MGC Pure Chemicals America acquired

After a surge of multifamily construction in the Valley coming out of the pandemic, demand remains strong as the backlog of new units are rented out. Cushman & Wakefield reports that during the first half of 2026, net absorption reached 12,741 units, calling it “the market’s strongest six-month span since at least 2000.” Helping to compress the vacancy rate is a slower pace of deliveries and new construction. Kidder Mathews notes that units under construction fell 35.45% year-over-year

A Valley developer is aiming to breathe new life into a project near Glendale’s entertainment district that has sat vacant and unfinished for nearly two decades. The project, now called the Capistrano, sits on about 7.5 acres near 91st Avenue and Zanjero Boulevard, south of the Desert Diamond Casino West Valley. It was proposed as senior housing and began construction but has been vacant since the housing crash in 2008, according to city documents. The existing three-story

Retail sales in rebounded in August as consumers kept spending and the back-to-school season kicked in. Total retail sales rose 1.2% in August to $773.9 billion, compared to a revised 0.5% drop in July, and were up 6% year over year, according to the Commerce Department. It was the largest monthly increase since March. Excluding gas stations, retail sales rose 1.1% in August. (The government figures are not adjusted for inflation.) Sales at he “control group” — which excludes

Mesa leaders this week approved a $3B development plan that could become one of the largest hospitality and retail projects in the Phoenix metro city. The 197-acre mixed-use development, dubbed Legacy Park, is slated to include a 600-room luxury resort, thousands of apartment units, a 20-acre park and an underground pedestrian tunnel connecting it to the adjacent Arizona Athletic Grounds, 12 News reported. At full build-out, the development is also expected to include 3.8M SF

Phoenix is emerging as one of the more resilient major office markets in the West, with vacancy below the national average, nearly $1 billion in office sales so far this year and office-using employment posting its strongest annual growth since 2022. According to CommercialCafe’s latest national office report, which uses Yardi Research data, Phoenix’s office vacancy rate stood at 17.2% in August, compared with the national rate of 17.8%. Phoenix vacancy was unchanged from a year

Wespac Construction has completed the new Sprouts Farmers Market support office and flagship store at CityNorth in Phoenix, delivering a long-term home for one of Arizona’s most recognized public companies and adding a new public destination to the fast-growing North Phoenix district. The project totals approximately 186,000 SF  at 20555 N. 55th St., near the Loop 101 and 56th Street. It includes an approximately 145,000 SF corporate headquarters, a 25,000 SF flagship Sprouts

Commercial real estate is entering a more selective capital-markets phase. The Federal Reserve’s latest rate increase and the 10-year Treasury’s sustained move above 5% do not necessarily signal an immediate shutdown in lending or transaction activity, but they do raise the standard for every refinance, acquisition and recapitalization now moving through the market. For investors, the question is no longer simply whether rates are high. It is which properties can support today’s

The Wilf family, the owners of the Minnesota Vikings, plans to build luxury apartments next to Desert Ridge Marketplace in north Phoenix. The Wilfs, through their New Jersey real estate company Garden Communities, plan to develop a 504-unit apartment community on land between Vestar Development Co.’s 1.2 million-square-foot Desert Ridge Marketplace and JW Marriott Phoenix Desert Ridge Resort and Spa. While Garden Communities declined comment on a development

After a surge of multifamily construction in the Valley coming out of the pandemic, demand remains strong as the backlog of new units are rented out. Cushman & Wakefield reports that during the first half of 2026, net absorption reached 12,741 units, calling it “the market’s strongest six-month span since at least 2000.” Helping to compress the vacancy rate is a slower pace of deliveries and new construction. Kidder Mathews notes that units under construction fell 35.45% year-over-year

A prominent zoning attorney is working to set up about 4,695 acres of state land east of San Tan Valley for an unidentified user. Pinal County’s Planning and Zoning Commission will hear a request at its Sept. 17 meeting to designate that land as a “Special District” under an application from zoning attorney Jordan Rose of Rose Law Group, who told the Business Journal she is representing the Arizona State Land Department. The site is currently zoned for employment and

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

One of the nation’s largest homebuilders has secured 444 lots near the Taiwan Semiconductor Manufacturing Co.’s $265 billion development in north Phoenix. AGWIP Asset Management, land banker for Miami-based Lennar Corp. (NYSE: LEN), plopped down $60.14 million in cash for the land spanning 132.24 acres near 117th Avenue and the Deer Valley Road alignment on Maricopa County land, according to Tempe-based real estate database Vizzda LLC. Closing on Sept. 15, the seller

Two national firms partnered to purchase a Phoenix ambulatory surgery center as they expand their national healthcare real estate investment platform. A joint venture between Lincoln Property Co. and PGIM acquired the Surgery Center of Gilbert at 6003 E. Baseline Road in Mesa for $10.68 million. The acquisition serves as the entry point into Phoenix’s healthcare real estate market for Lincoln and PGIM’s platform. It “puts a flag in the ground” and positions the partnership to expand