DAILY TOP 5

After years of speculation and a high-profile ownership reset, One Camelback is no longer a question mark on the Uptown skyline. It is a construction site in motion. Kinella Capital, LLC, led by developer TK Stratton, has reached several key milestones at the long-stalled office-to-residential conversion, signaling that one of Phoenix’s most talked-about projects is firmly back on track for a fourth quarter 2026 completion. “The progress happening right now is what people have been

The country’s largest employee-owned electrical contractor acquired a Chandler medical building to turn into its new regional headquarters. San Jose, California-based Rosendin Electric, Inc. bought the two-story 100,622-square-foot building at 1450 S. Spectrum Boulevard within the Allred Park Place office campus. It’s near the Loop 202 and Loop 101 interchange, and just north of offices occupied by Northrop Grumman Corp. Rosendin bought the building May 1 for $17.7 million, according to

With 14 professional sports venues within an hour’s drive – a higher concentration than any city in the world – as well as multiple new or renovated college facilities, not to mention one of the world’s largest amateur sports complexes and enviable weather, Phoenix has amassed a diverse hosting resume. The Valley has been the site for multiple Super Bowls, most recently in 2023, and NCAA Division I Men’s Final Fours; a CFP National Championship; the 2024 NCAA Convention; the

Scarcity continues to define the retail real estate market, with constrained development pipelines and elevated replacement costs keeping available space near historic lows even as demand conditions soften, according to new data from CoStar Group. Net absorption has declined in three of the past five quarters, signaling a moderation in demand momentum. Yet availability has remained stubbornly tight — holding roughly 15% below its 10-year average — underscoring how limited

Newly released data from the U.S. Census Bureau reiterates the Valley’s strong demographic profile and provides deeper insight into where population gains are happening. In the five-year period from July 1, 2020, to July 1, 2025, the Phoenix metropolitan statistical area (MSA) added about 353,700 residents, the fourth-largest absolute gain in the United States. That amount represents a 7.3% cumulative increase, ranking 11th among the 56 MSAs with at least 1 million

The Shops at Halo Vista, an 11-acre mixed-use retail and hospitality development tucked inside the massive 2,400-acre master planned Halo Vista development in north Phoenix, is starting to look for tenants. Common Bond Development Group, the company behind several notable Valley projects including the Global Ambassador hotel and Park at 83 in Peoria, is developing the retail destination at the northwestern hard corner of the I-17 and Dove Valley Road. The center will

LAS VEGAS—At this year’s ICSC Las Vegas 2026 conference, experts agree that retail is evolving into a more operationally sophisticated, service-oriented and investment-attractive asset class. From logistics-driven site selection to the rise of experiential tenants and renewed institutional capital flows, industry leaders tell GlobeSt.com that the sector is entering a structurally different phase than the one investors faced just a few years ago. Executives at CBRE, for example, say the

From jobs and inflation to housing permits and population growth, here are the latest economic trends shaping the Arizona economy so far in 2026. The U.S. unemployment rate changed little at 4.3% in April, while total nonfarm payroll employment edged up by 115,000, according to the Bureau of Labor Statistics’ May 8th employment situation summary. The unemployment rates for major worker groups showed little or no change in April, with teenagers (14.4%) having the

Dignity Health has signed on to build a state-of-the-art medical campus at the corner of Scottsdale Road and Loop 101 in north Phoenix, on 217 acres the Arizona Cardinals acquired last year for $136 million. This announcement marks Dignity Health Arizona, which is a member of CommonSpirit Health, as the first company to sign on to be part of the massive mixed-use development project the Cardinals are assembling on the land. Earlier this year, the team broke ground on its new

Retail sales rose slightly for the seventh consecutive month in April despite rising gas prices and stubborn inflation. Core retail sales (excluding restaurants, auto dealers and gas stations) inched up up 0.34% month over month in April and were up 5.53% year over year, according to the CNBC/NRF Retail Monitor, released by the National Retail Federation. That compared with increases of 0.41% month over month and 7.05% year over year in March. Sales rose month over over month in

Greater Phoenix’s industrial sector has reigned as the king of commercial real estate throughout the first half of this decade. The region’s rising reputation as the epicenter of U.S. manufacturing’s revival has brought the Valley global attention, with companies of all sizes considering whether to join the growing ecosystem. As the “Silicon Desert” continues to establish itself, the industrial market has responded to the surge of both supply and demand across multiple product types — but it

Thousands of apartment units are under construction or in the planning process in downtown Phoenix, but city officials said there is continued demand for residential development in the city’s core. Since 2015, more than 10,600 apartment units have opened in downtown Phoenix, Xandon Keating, deputy director of community and economic development for the city, said at a meeting of the Economic Development and Arts subcommittee on May 14. About 1,800 units are under

Hundreds of luxury condominiums are closer to being built within a $1 billion mixed-use community in north Scottsdale. The Scottsdale Planning Commission on May 13 unanimously recommended that City Council approve the removal of 1.3 million square feet of commercial space to make way for 350 for-sale units within the 126-acre One Scottsdale development. A date for the upcoming Council meeting was not discussed May 13. The ownership group for the land requested to make

Sale prices are rising as homebuying demand strengthens. U.S. pending homes sales jumped 9.6% year over year to their highest level since September 2022, on a seasonally adjusted basis. Pending sales are rising in every major U.S. metro except three (Houston, Detroit and Seattle). Mortgage-purchase applications are up 4% week over week. Strengthening demand is pushing up prices. The median home-sale price rose 2.2% year over year during the four weeks ending May 10, the

A massive data center project planned in Mesa is moving forward. Mesa Planning Commission members cast their votes on May 13 in a quiet and nearly empty chamber, ending a 10-minute meeting with a unanimous vote that recommended approval of the 2.2 million-square-foot data center project. The Wednesday meeting stood in contrast to a raucous four-hour meeting Chandler City Council experienced last December when a group of red-clad attendees formed a striking opposition

Most metrics are looking up, according to a new CBRE report. As retail deliveries stall, rents continue their upward trajectory. The growth rate edged out the 10-year average, with an annual rent increase of 2.4 percent through March, according to the latest CBRE quarterly retail report. Meanwhile, three consecutive quarters of positive net absorption kept the availability rate low, at just 4.9 percent at the end of the first quarter. However, the reading was 10 basis points higher compared to the

Location: 7620 E Cavasson Blvd., along the western block of Hayden Road that’s just north of Loop 101 in Scottsdale. Description: A multitenant retail and medical center will join north Scottsdale’s sprawling master-planned development called Cavasson. Led by Nationwide Realty Investors, the real estate arm of the insurance company, the $1 billion Cavasson is a 134-acre development. It’s already home to Nationwide’s new corporate offices, as well as a Hilton hotel, restaurants and other

Retail sales rose for the third consecutive month in April, gaining 0.5% from March and rising 4.9% year-over-year, the Census Bureau reported Thursday. The increase in spending, which was in line with expectations, occurred despite a 3.8% annualized rise in the Consumer Price Index and diminished consumer confidence. Total sales for the February 2026 through April 2026 period were up 4.4% from the year-ago period. The February 2026 to March 2026 percentage change was revised

West Valley city looks to double number of hotel rooms in Westgate area, seeks even more restaurant tenants. For nearly two decades, Desert Diamond Arena’s calendar revolved around 41 regular-season home games and the rhythms of an NHL schedule. Today, that structure is gone. The Coyotes played their last game at Desert Diamond Arena on April 29, 2022, ending a turbulent and fractious 19-year relationship with the city of Glendale. In the ensuing four years, the arena and

A 2,500-acre site in Buckeye is aiming to land the Valley’s next mega-project, as brokers begin to pitch the site for semiconductor manufacturing and other advanced manufacturing uses. The site, called Grand View Arizona, is located near Broadway Road and MC 85, and is bisected by Union Pacific Railroad. A plan approved by the Buckeye City Council in April would allow nearly the whole site to be taken by one user, if there is interest from a large company in developing all of it. About

Lennar Corp. (NYE: LEN) has its eye on 325 acres of state land near Taiwan Semiconductor Manufacturing Co.’s $165 billion complex being developed in north Phoenix, looking to fill a need for more housing units for thousands of employees. The Miami-based homebuilder has submitted an application to the Arizona State Land Department in an effort to convince the department to auction a parcel on Dove Valley Road and Paloma Parkway. While Lennar is the applicant on that

For house-hunting Americans, the supply is limited.With a tight housing market for existing homes, the demand for new home construction is growing as homebuyers seek more options.But which cities have the most new home construction in 2026? According to a new analysis by InMyArea.com, metro Phoenix ranks No. 4 in the nation for new home construction, with more than 39,145 housing units permitted. However, despite ranking high in the nation for new construction, overall

Arizona still has a supply and demand imbalance when it comes to housing, according to a new report from the Arizona-based think tank, Common Sense Institute. The report says just 42% of households in the state would be able to afford a new mortgage — down from 66% in 2019. Homeownership remains out-of-reach for many Arizonans in spite of the fact that home prices fell nearly 3% in 2025. “That’s 3% on a level that was so high historically, that while that is some

It’s a show most people could never imagine, and a rare construction operation that occurred on several occasions this spring while most Phoenicians slept. A steel beam weighing as much as seven elephants was lifted off the ground between two massive cranes to become part of a growing airport. For these tandem “steel picks,” the towering cranes were out of sight of each other and had to lift precisely at the same time and height. The operation necessitated increased safety measures along