DAILY TOP 5

Tri Pointe Homes and Pulte Homes, two of the largest homebuilding companies in the U.S., announced the acquisition of 274 gross acres within the Aloravita planned community in Peoria, Arizona. The acquisition, completed through a 50/50 joint venture between Tri Pointe Homes and Pulte Homes, follows a successful Arizona State Land Department public auction held on October 17, 2024. The purchase price was $63 million. “Aloravita represents an exceptional opportunity to bring new housing to

A $613 million Arizona Department of Transportation project to extend loop 303 southward in the West Valley city of Goodyear got underway Monday and is expected to continue for about four years. The work will extend the 303 from Van Buren Street to Maricopa County 85, and it will prepare the way for a connection with the planned State Route 30, which will serve as a reliever for Interstate 10 by stretching through the southwest portion of the Valley from Loop 303 to Loop 202. ADOT said much of the new

Plans are moving forward for a new family and adult entertainment destination at Copper Sky Regional Park, bringing a unique mix of recreation, dining, social experiences and community gathering spaces to the city of Maricopa. The development team has released a new conceptual rendering and is inviting residents to help shape the development through a brief community survey. The proposed project, currently dubbed Maricopa Entertainment Center, will feature approximately 25,000 square feet of indoor attractions

Retail has undergone significant changes in recent years, adapting to evolving market needs, economic shifts and consumer behavior. One way to keep these spaces in demand is to look beyond traditional formats where shopping alone was the primary activity and attraction. While dining and entertainment options play an important role, the emerging focus is on family- and children-oriented environments. A strategy that transforms retail, as well as mixed-use destinations, into communities. Demand for experiential

Phoenix gets top marks nationwide for its micro-vacation amenities ranging from affordable lodging to pleasant weather. There were 49,050 Google searches (based on the average number of searches per month) for “Phoenix weekend trip,” highlighting the city’s appeal as a hot spot for a quick weekend getaway for workers due to factors such as hotel cost, number of attractions, weather reliability, local accessibility and ‘weekend trip’ search volume. That helped Phoenix rank No. 1 in a survey by Blink

Hotel investors are concentrating capital in luxury and upscale leisure properties while new development remains difficult as financing costs remain elevated and underwriting standards tighten, Walker & Dunlop says in its inaugural Hospitality Outlook, “Capital, Divergence, and the Search for Durable Returns.” The outlook finds a widening divide across the lodging sector with performance increasingly determined by asset quality, location and traveler demographics rather than broader market trends

A new MoveBuddha report, “Renter Nation: America’s Fastest-Growing Rental Markets,” analyzes renter-occupied housing growth across 889 U.S. metro and micro areas from 2019–2024 to identify where rental demand is accelerating fastest in America. Arizona emerged as one of the country’s standout rental growth stories, with Flagstaff ranking among the fastest-growing renter markets nationwide. Key Arizona findings: Flagstaff, AZ ranked #13 nationally for renter growth

Arizona experienced positive year-over-year job growth for the first time in eight months, according to a new report. The Common Sense Institute Arizona released a report showing that Arizona gained 13,300 jobs year over year in April. This marked the first time since August 2025 that Arizona saw positive year-over-year job growth. Arizona grew by 0.41%, ranking 12th in America, the report said, adding that the state’s job growth outpaced the national average of 0.16%. The April job numbers are more positive than the March

Commercial mortgage lenders are locked in their fiercest competition on record, a development that is reshaping the financing environment for US property owners and creating new opportunities for mortgage brokers working in the commercial space. Global credit competition soared to an all-time high in April 2026, fuelled by a massive wave of refinancing and large loan placements, according to JLL’s newly launched Global Credit Intensity Index. The index draws on JLL’s proprietary dataset of nearly $9 trillion in investment sales bids and

Waymo is expanding its presence in Arizona with a large land purchase northwest of Phoenix. The autonomous vehicle producer purchased the 5,500 acres of land in Wittmann from Route 14 Investment Partners LLC for $220 million. Waymo says it’ll test its robotaxis at the site, which Chrysler and Apple have also used for vehicle testing. Waymo said in a social media post “This investment gives our teams dedicated urban and freeway tracks to validate software in a

Patrick Banger, Glendale’s new city manager, says he’s proud to lead the community into its next chapter. During the week of June 15, the City of Glendale will unveil the results of the nearly $100 million Downtown Campus Reinvestment Project, anchored by a reimagined city hall, council chambers and E. Lowell Rogers Amphitheater. The 113-year-old Murphy Park, preserved, takes center stage. The project is more than cosmetic; it’s strategic. The move helps city officials

The Valley’s first Seafood City Supermarket is set to open later this summer at Chandler Fashion Center. The Filipino supermarket chain will be opening in a 65,000-square-foot space on the southwest side of the mall, in the former Sears space. The plan is to open in mid-July, and the company has started its hiring process. Seafood City said it is looking for more than 100 employees for its first Arizona location. It is not just hiring workers for the flagship grocery part of the

A 2.5 million square foot residential and commercial development marketed as the region’s first Urban Resort Village is coming to a suburb north of Tucson. The mixed-use district will be walkable and integrate residences, retail, dining, hospitality, entertainment, office, wellness, and public gathering spaces. The project includes an upscale apartment complex The Astrie, which is slated to open June 2026, and a hotel, a Tempo by Hilton Hotel, which is anticipated

Developers are nearing the finish line on a rare office-to-residential conversion that’s transforming a longtime eyesore on one of Phoenix’s prominent high-profile intersections into luxury apartments. One Camelback has long sat idle and unfinished behind construction fences. A previous developer embarked on the project in 2020 with the hopes of turning the 1980s-built bank building into destination living in the middle of one of Phoenix’s top employment corridors

Refinancing costs are reshaping how commercial real estate lenders and borrowers talk about troubled loans. Instead of assuming that every asset can be rolled forward with another extension, many players are confronting the reality that debt once priced in the 3 to 4 percent range is now resetting closer to 7 percent or higher, with dramatically different math for both sides of the table. The result is a new kind of workout conversation that pivots less on buying time and more on whether a given business

U.S. office-using job growth has shifted south and west, Avison Young reported. Austin leads all major metro areas, up approximately 34% in office-using employment since 2019, with Phoenix and Charlotte also ranking among the top-performing markets. “Office demand is going where growth is,” said Tucker White, U.S. Office Lead, Market Intelligence. “Austin, Phoenix and Charlotte are standout examples of where office-using employment is accelerating at a meaningful pace. These markets are

Rental performance continues to show signs of strain across the country. Despite a 0.4 percent uptick year-to-date through April, rent growth was only one-third of the average seasonal increase recorded between 2012 and 2019, according to Yardi Matrix. Annual growth remained in negative territory, down 0.2 percent. Constrained multifamily rent growth is coming from elevated levels of new supply and softening demand and stagnant absorption in recent quarters. Although a recovery appears to be taking shape, it is likely to develop gradually and unevenly across the country

A long-planned mixed-use tower near Phoenix’s Roosevelt Row district has received preliminary approval, paving the way for another major project to rise near Phoenix’s buzzy cultural district. The 21-story high-rise would comprise 320 rental units on a 1.6-acre parcel at 1101 N. 1st St. The 493,034-square-foot building would include four levels of parking; 5,537 square feet of ground-floor retail; and amenity spaces on the first floor, fifth floor and 21st floor — which would also feature terraces

A downtown Phoenix apartment tower that recently completed construction will feature a small grocer, café and wine bar, along with an art gallery on its ground floor. Ray Phoenix, a 26-story tower with 401 apartment units, opened for residents in April and is still leasing for its units, which range in size from studios to two bedrooms. The development is located at Central Avenue and McKinley Street. Rental rates at the development range from about $1,400 per month to about $7,200 per month depending on the

Commercial real estate pricing has finally started to move again—and this time, it’s not a broad rally so much as a retail-led push dragging the rest of the market along for the ride. Green Street’s latest Commercial Property Price Index shows values ticking higher in recent months, with the all‑property index up 1.6% in May alone, but the real action is in a handful of consumer-facing and specialty sectors that are doing most of the heavy lifting. Retail Steps Into The Spotlight: In the most

Consumers continue to show their resilience as retail sales rose for the eighth consecutive month in May despite high gas prices and ongoing inflation. Total retail sales (including restaurants, but excluding automobile dealers and gasoline stations) increased 0.42% month over month and were up 7.19% year over year in May, according to the CNBC/NRF Retail Monitor released by the National Retail Federation. That compared with increases of 0.34% month over month and 5.73% year over

U.S. employers went on a hiring spree in May, adding 172,000 jobs, the third consecutive monthly gain. The data boosted the three-month moving average gain in jobs to 188,000, its highest level in more than two years. The unemployment rate remained unchanged from prior months at 4.3%. The number was double market expectations of roughly 85,000 jobs, and revisions to earlier data suggested a strengthening after a period of weakness over the previous 12 months. From

Nationwide provided a $90 million acquisition loan. Quarterra Multifamily has sold Residences Kierland, a 290-unit community in Scottsdale, Ariz., to MacNaughton, according to Yardi Matrix information. Nationwide issued a $90 million, five-year loan for the transaction. This is the first time the property traded. Located at 15825 N. 71st St., in a Difficult Development Area, the property came online in 2023 on roughly 4 acres. It sits next to The Westin Golf Course, with multiple

The city of Phoenix is looking for developers to build out a transit-oriented mixed-use project on 10.2 acres of city-owned property at the former Christown Spectrum Mall site. The site, which is at the southeast corner of 19th and Montebello Avenues, includes a Phoenix Public Library branch location and a park-and-ride station. The Economic Development and Arts Subcommittee will vote June 10 on whether to approve issuing a request for proposals. In their submittals, developers will