Yardi Matrix Vice President Jeff Adler offered a mixed but generally favorable economic outlook during the recent Yardi Executive Summit in New York City, terming it a “repeat of the 1930s” and urging attendees to keep an eye on the fiscal deficit and not to be distracted by the war in Iran. While large deficits remain unresolved, Adler said he anticipates the 10-year Treasury yield to be 4.0 to 4.5 percent. “This is the big thing,” he emphasized. Meanwhile, GDP should
Inflation numbers are up. So are gas and food prices. And according to Marcus & Millichap’s “Retail Sales” brief, so is consumer spending. Core retail sales, excluding auto and gasoline purchases, increased by 0.6% in March, while year-over-year spending grew by 4.2%. However, consumers aren’t just throwing money around. “More households are purchasing necessity and household items in bulk to save money amid persistent inflation,” Marcus & Millichap analysts explained. Sales
A developer is waiting for key approval that will allow nearly 28 acres of commercial space for shopping, retail, dining and entertainment use within a broader master-planned community in Gilbert. The 311-acre development called Harvest Grove — off Val Vista Drive and Germann Road — overcame a hurdle last month when the Gilbert Town Council voted 4-3 in favor of the project’s general plan amendment and zoning changes. That vote came after months of debate and design
Here are the Top 10 master-planned communities in Arizona, based on public voting for the 2026 edition of Ranking Arizona, the state’s biggest and most comprehensive business opinion poll. Ranking Arizona is based purely on opinion and ranks companies based on how voters answer this simple question: with whom would you recommend doing business? Top 10 master-planned communities in Arizona. Here are the Top 10 master-planned communities in Arizona, as featured in the
PHOENIX — Florida, California, Texas, even New Mexico. Those are the states people think of when they think about space. Arizona wants to change that. Representatives of Arizona’s space industry gathered Wednesday at the Hyatt in downtown Phoenix for the “Space Congress” event to map out how the state can become a major player in the growing commercial space economy. Brett Mecum of the Arizona Space Commission says the state is already closer than most people realize. “Arizona
More than two decades ago when she was working as economic development director for the city of Chandler, the chances for a Valley city to land a corporate headquarters relocation were pretty slim. But these days, politicians and economic development experts alike have started referring to an emerging HQ hotspot – the growing northeast Phoenix area near Loop 101 – as “Headquarters Alley,” where Discount Tire, Republic Services and now Sprouts Farmers Market are all in
Following more than a decade of limited activity, the Phoenix retail development pipeline is expanding again. About 2.8 million square feet of retail space was under construction in the Greater Phoenix area in the first quarter of 2026, an acceleration from the 1.6 million square feet underway on average from 2015 to 2019. That amount represents about 1.1% of existing stock, ranking the Valley among the top-five markets in the nation for most retail space underway, on both an absolute
The COVID-19 pandemic brought a reckoning to office space, leaving large-scale vacancy in major cities, including Phoenix, where the vacancy rate reached 22.8% in the first quarter of 2026. The move away from office space has left some buildings functionally obsolete, priming them to be converted to a different use, or razed and redeveloped. In Phoenix, about 1,500 apartment units are planned to be created through converting offices to residential use, according to a report from RentCafe
After an hour-and-a-half-long bidding war, a winner finally emerged during an Arizona State Land Department auction on April 30. Desert Ridge 293 LLC placed the winning bid of $180 million. That LLC was incorporated on April 8 in Delaware — a state notorious for helping safeguard the identities of entities registered there. The representative holding the winning paddle was Lori Anderson with eXp Realty. The 293.5-acre site, which is located at Deer Valley Drive and
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
More than two decades ago when she was working as economic development director for the city of Chandler, the chances for a Valley city to land a corporate headquarters relocation were pretty slim. But these days, politicians and economic development experts alike have started referring to an emerging HQ hotspot – the growing northeast Phoenix area near Loop 101 – as “Headquarters Alley,” where Discount Tire, Republic Services and now Sprouts Farmers Market are
The city of Scottsdale has spent $7.8 million for an office building that it plans to turn into a parking lot for Scottsdale Airport. The property, located at 15011 N. 75th St. in Scottsdale Airpark, was sold by Access Capital LLC. The entity purchased the property for roughly $8.4 million in April 2025, according to Maricopa County records. Scottsdale City Council approved plans in April for the city to purchase the 1.49-acre property, which is home to a 21,664-square-foot office building. That
Office demand climbed to its highest level since before the pandemic in the first quarter, even as the workforce that typically drives it continued to shrink, revealing a growing disconnect between hiring trends and how companies are using space. The VTS Office Demand Index rose 18% quarter over quarter and 13% year over year, marking its strongest reading of the post-pandemic era, as leasing activity was fueled not only by the tech sector’s ongoing AI expansion but also
A 100-acre development in south Phoenix that will include shopping, restaurants and residential development will be anchored by a wholesale grocery store. According to documents submitted to Phoenix, discount bulk grocery store WinCo Foods has signed a purchase agreement to buy some of the land at 19th Avenue and Baseline Road to build a roughly 84,000-square-foot store. The site, which is one of the last large remaining pieces of land along Baseline Road in south Phoenix
Recent years have brought repeated turbulence for the nation’s industrial real estate sector. To start the decade, the pandemic constricted global supply chains. The introduction of tariffs at the start of last year once again scrambled that picture. More recently, the war with Iran has driven fuel prices higher, creating another drag on the traditional means of moving goods into U.S. warehouses and factories. Those three major disruptions — combined with others less ingrained in the nation’s
As SkySong, The ASU Scottsdale Innovation Center marks its 20th anniversary, the transformation of Scottsdale’s McDowell Road Corridor stands as one of the clearest and most compelling examples of its long-term impact — turning a once-declining stretch of underutilized land into a vibrant center for innovation, housing and economic growth. When SkySong was first envisioned in the mid-2000s, the corridor was defined by a shuttered mall and aging auto-oriented development. Today, it
After an hour-and-a-half-long bidding war, a winner finally emerged during an Arizona State Land Department auction on April 30. Desert Ridge 293 LLC placed the winning bid of $180 million. That LLC was incorporated on April 8 in Delaware — a state notorious for helping safeguard the identities of entities registered there. The representative holding the winning paddle was Lori Anderson with Exp Realty. The 293.5-acre site, which is located at Deer Valley Drive and
Location: 91st and Glendale avenues in Glendale. Description: A 301-unit apartment complex is in the works near the popular Westgate area. Zanjero III Apartments is planned to offer a “luxury residential rental community” on 8.32 acres in the West Valley. Site renderings show the complexes will have four levels. The location is in proximity to restaurants the Tanger Outlets shopping center and entertainment venues. History: The project has been in the works for a few
A Los Angeles entity tracing to MetLife Investment Management plopped down $45.85 million in cash for a 140-unit West Valley build-to-rent property built in 2023. MetLife bought Grandstone at Sunrise Villas from Thompson Thrift for $327,500 a unit, according to Tempe-based real estate database Vizzda LLC. Thompson Thrift Residential built the rental community on 9.85 acres in 2023 at 24701 N. Lake Pleasant Parkway in Peoria. It is part of Sunrise Promenade, a
The Federal Reserve’s decision to hold interest rates steady may have landed as expected, but the unusual level of dissent exposed a central bank increasingly divided over what comes next and that uncertainty is beginning to matter for commercial real estate. The result keeps the benchmark rate in the 3.50% to 3.75% range, a move widely anticipated by markets. But the decision was marked by a rare split: for the first time since 1992, four officials dissented. One of those votes
In Dec., TBBG Investments announced the groundbreaking of a 132-unit build-to-rent townhome community at 35th Avenue and Southern Avenue in South Phoenix, in partnership with Titan Development. TBBG acquired the 7.8-acre site for approximately $3.8 million more than two years ago with Titan, strategically positioning the project to deliver into a tightening supply environment. The community will feature two-story townhomes with attached garages and private
Institutional capital is pouring into small-bay industrial, but the real edge is shifting away from buying power toward operational discipline and deal access. The sector, which accounts for more than half of US industrial inventory yet receives less than a quarter of new development, has become increasingly competitive as investors chase a limited pool of assets. That imbalance is pushing pricing higher and compressing margins, forcing buyers to rethink how they generate
An ice cream chain known for its boozy dessert offerings is growing its brand at brick-and-mortar locations across the United States. Tipsy Scoop, a company whose flagship bar-ice cream parlour, or barlour, is in New York City, is set to open a location next month at 119 S 18th St. in Philadelphia’s Rittenhouse Square neighborhood and this summer at 506 N. Bishop Ave. in Dallas. For its “City of Brotherly Love” location, Tipsy Scoop is taking about 300 square feet — the
After paying $123.6 million for a 412-unit Glendale apartment community in July 2021, real estate giant Blackstone has sold it for $101.35 million — about 18% less than what the real estate giant paid for it. Closing on April 23, Blackstone, in care of Chicago-based LivCor, sold Arrowhead Summit to an entity tracing to Santa, Barbara, California-based NALS Apartment Homes, according to Tempe-based Vizzda LLC real estate database. Asher Gunter, Matt Peach and Austin Groen of CBRE
A 250,000-square-foot, nearly $190 million multi‑sport complex in North Phoenix is back on track, fulfilling the dream of SSS Partners CEO Shubham Pandey — and his neighbors. Fire ‘N Ice Arena, a nearby hotel and SSS Academy, its operator, will sit on 17.5 acres at 2727 W. Bronco Butte Trail — near the I-17 and Sonoran Desert Drive, adjacent to TSMC. Pandey said the hotel, which he called a Hilton, will open within two months. A Hilton spokesperson said, however, “Hilton is committed to