When Mat Sherman, an Arizona State University graduate, was launching his first company, PubLoft, about a decade ago, he quickly learned there wasn’t much of a network for venture capital in Phoenix. And that was a long-standing problem here. It mattered because such seed money is a measure of a region’s economic vitality. He ended up getting funding from an investor in the Bay Area, a common path for startup founders. Now, he works as
Phoenix suburbs are quietly undergoing a change as thousands of new renter households have moved in over just five years — signaling that the traditional city-suburb divide is starting to blur. The latest Point2Homes analysis of U.S. Census data reveals how rising housing costs and shifting lifestyle preferences are driving renter growth deep into suburban areas, even in metros like Phoenix that haven’t yet seen a renter-majority flip
Lunar space station testing in Gilbert. Air taxi development in Phoenix. Billion-dollar missile manufacturing in Tucson. These Arizona-based endeavors — being shepherded by Northrop Grumman, Honeywell Aerospace Technologies and Raytheon, respectively — reside on the bleeding edge of a defense and aerospace boom that already employs thousands in the Grand Canyon State. These futuristic initiatives are inching closer
Northwest Phoenix, a once-vast expanse of desert scrub, has transformed into a hub of industrial development and employment growth in the city, making it the world’s next high-tech mecca. Huge companies, capitalizing on available land and a pro-business civic outlook, are building a giant new complex that produces the microscopic devices that power almost all modern electric products. The area boasts more industrial space under construction than
General Motors is moving some of its production from Mexico to the U.S. in the months after President Donald Trump’s tariff on vehicles manufactured abroad. The $4 billion investment over the next two years will boost domestic manufacturing, according to the company. That investment includes adding production lines currently based in Mexico to plants in the U.S. Trump’s 25% tariff on foreign-made cars threatens to hurt
The recent U.S. Hotel Construction Pipeline Trend Report from Lodging Econometrics (LE) reports that, at the close of the first quarter of 2025, the top five markets with the largest hotel construction pipelines are led by Dallas with 203 projects/24,496 rooms, a new all-time-high room total representing 9% project and 11% room growth year-over-year (YOY). Following Dallas is Atlanta with
Along the Phoenix-Scottsdale city border, a two-story strip mall will make way for a proposed seven-story luxury apartment complex in Paradise Valley Village. The Residences at Scottsdale Crossing, the name of the proposed multifamily luxury project, will feature 315 dwelling units with a mix of studios, one-bedrooms, two-bedrooms and three-bedrooms. The seven-story
The U.S. apartment vacancy rate finally peaked at the end of last year and is forecast to maintain downward momentum through 2025 and beyond. An abundance of new developments in lease-up is expected to drive absorption in coming quarters, likely chipping away at the nation’s elevated overall vacancy rate. While rental demand is still growing at an above-average
After seven years of work and more than $18 million invested, Harbour Village, a new affordable housing development in Carlisle, Pennsylvania, officially opened its doors in January. The 40-unit rental development came together thanks to Safe Harbour, a housing nonprofit based in Carlisle. By the time Safe Harbour started screening prospective tenants, there were over 400
Large-scale office transactions are sending a powerful signal that the U.S. office market is in the midst of a meaningful recovery. In the first four months of 2025, single-asset office sales over $100 million have generated nearly 50% more volume than the same period last year, with at least 20 such properties trading hands compared to just 11 in early 2024, according to
Uncertainty in the economy and financial markets has created minimal impact on multifamily fundamentals, Yardi Matrix reported. The average U.S. multifamily advertised rent rose by $6 in May to $1,761, a 1% year-over-year increase. “Occupancy rates are slipping in some metros due to the heavy supply pipeline, but the drop is slow, as demand remains strong in high-supply metros,”
Phoenix is one of the nation’s top draws for corporate headquarters, according to a new report from CBRE. The report ranked Phoenix No. 4 in the U.S. for gaining the most corporate headquarters between 2018 and 2024. During that time, the Valley added 31 new HQs, which was the same amount gained by Houston. Only Dallas, Austin and Nashville came in ahead of the Phoenix metro
Dutch Bros will move its headquarters to Tempe, the national restaurant company confirmed Wednesday. The publicly traded company, which was founded in Grants Pass, Oregon, has said for the past year and a half it is moving a large portion of its corporate operations to Arizona, but had insisted it would maintain its headquarters in its hometown. On Wednesday, Dutch Bros
Home prices are flat or down slightly in most metro Phoenix cities compared to last year, another sign of a big increase in listings shifting the market towards buyers. Listings of houses for sale shot up almost 53% during the past year, according to the Arizona Regional Multiple Listing Service. Christy Walker, board president of Phoenix REALTORS, said the increase in listings gives
In May 2025, Greater Phoenix broke from the national trends in residential real estate performance as single-family home sales outperformed those nationwide, according to Phoenix REALTORS® data. Across the United States, in year-to-date comparisons with 2024, the National Association of REALTORS® reports that median home sales prices are down 0.6%, new listings have
Phoenix is one of the nation’s top draws for corporate headquarters, according to a new report from CBRE. The report ranked Phoenix No. 4 in the U.S. for gaining the most corporate headquarters between 2018 and 2024. During that time, the Valley added 31 new HQs, which was the same amount gained by Houston. Only Dallas, Austin and Nashville came in ahead of the Phoenix
Light rail in the Valley entered a new era over the weekend when the first train traversed the system’s south Phoenix expansion. The big picture: A 5.5-mile extension that runs south along Central Avenue from downtown Phoenix opened Saturday. The extension has eight stations, with Central and Baseline Road marking the end of the line. The light rail system now has 35 miles of track
A Phoenix suburb ranks second among the nation’s fastest-growing, most affordable cities to live in 2028, according to a new analysis. Researchers at GOBankingRates examined the latest U.S. Census and Bureau of Labor Statistics data to determine which cities have the best combination of rapid population growth and a manageable cost of living
Arizona ranked 9th in relative standard of living, according to an analysis by the Economic and Business Research Center at Eller College of Management at the University of Arizona. Every year, millions of Americans pack their bags and move to new places, chasing better jobs, affordable homes, or vibrant lifestyles. In 2023, over 30 million people
A half-constructed project in downtown Mesa that promised to bring housing and retail has a new owner after months of bankruptcy court hearings. On June 2, the City Council unanimously approved a new ground lease with the option to purchase. The deal is with developer Soltrust Main QOZB LLC, which was selected in coordination with a U.S. bankruptcy
One of Arizona’s largest public companies has a new home. Avnet Inc. found its new global headquarters at Arizona State University Research Park in Tempe after acquiring a 150,000-square-foot Class A office building on June 6 from ElmTree Funds LLC for an undisclosed price. Avnet (Nasdaq: AVT) will move into its new office building, which is
Some Peoria residents are voicing concerns about the development of a planned semiconductor facility. The city council unanimously approved a development agreement with Amkor Technology in February 2024. The 56-acre facility is set to be built off Loop 303 and Lone Mountain Parkway. Residents of that neighborhood
If you’ve looked at a map of planned and proposed developments or simply driven around Maricopa County’s cities, you’ll notice that the Valley is dotted with new projects. Developers and construction crews have for years been working to keep up with the rapid and sprawling growth of metro Phoenix. Such expansion necessitates
Regent Properties acquired three multifamily properties in the Roosevelt Row area near downtown Phoenix for a total of $90 million. CBRE’s Jess Weber, Andrew Behrens, Stephen Baird and Ryan Jameson represented the buyer, while CBRE’s Asher Gunter, Matt Pesch and Austin Groen represented the seller, Baron Properties. Linear apartments, a five-story
NEW YORK — Starwood Capital Group Chairman and CEO Barry Sternlicht is adamant that the hotel business is not a hard one to succeed in, but it requires passion. “It’s not that hard of a business,” he said during the 2025 NYU International Hospitality Investment Forum. “Clean [the property] up. Pay attention. Do everything a little better. Focus. And