June 21, 2021

Americans are moving from population centers like New York, California, and Illinois in record numbers. And one of the hottest plans — both literally and figuratively? A move to Arizona. According to research from North American Moving Services, those moving

Read The Full Article...

Multifamily rents rose by 2.5% year over year in May, according to the latest Yardi Matrix Multifamily National Report—almost exactly matching the rent growth rate in March 2020, when the COVID-19 pandemic took hold. This is the first time since March 2020

Read The Full Article...

The nation’s estimated shortage of at least 5.5 million affordable housing units, particularly apartments, is projected by the largest real estate group to take two decades to close without action from developers and policymakers focused on

Read The Full Article...

Nearly $130 billion in CMBS debt reaches maturity before the end of 2022.CMBS maturities looming in 2021 and 2022 could prove to be a tipping point for some assets. Given the distress still rippling through the retail and hotel sectors, some borrowers will

Read The Full Article...

“We are back!” That is how Phoenix Mayor Kate Gallego kicked off a June 17 ceremony ahead of the first convention held at the city-owned Phoenix Convention Center since the Covid-19 pandemic. Having a full-blown convention with hundreds of people

Read The Full Article...

June 18, 2021

Multifamily and single-family rentals should remain the fastest growing segment of the US housing market says DBRS Morningstar in a new report. “Single-family rental is experiencing unprecedented demand, and we do not expect it to abate anytime soon

Read The Full Article...

Apartment rents are soaring again as the pandemic wanes and workers return to cities. The U.S. median rent hit the highest level in two years in May, increasing by 7.5% over the last two years, according to a report by Realtor.com. Monthly rents rose

Read The Full Article...

Arizona had been experiencing major economic growth before the Covid-19 pandemic, and the changes sparked by the pandemic may have only accelerated that trend, according to an out-of-state site selector. “Phoenix, and Arizona in general

Read The Full Article...

Access to capital for CRE properties remains surprisingly elusive, but we expect it to return to pre-pandemic levels soon in most sectors. Many property types have held up despite apocalyptic forecasts, while the balance sheets for top lenders have

Read The Full Article...

Apartments in metro Phoenix continue to sell like hot cakes, as out-of-state investors are looking for a piece of the market that is seeing rental rate and occupancy increases amid job and population growth. For example, San Diego-based Sunroad Enterprises

Read The Full Article...

June 17, 2021

The death of the Phoenix retail market has been greatly exaggerated. That’s according to Valley retail and shopping center experts who say that brick-and-mortar shopping centers are definitely not on their way out, despite having in-person experiences temporarily

Read The Full Article...

A privately held multifamily investment group that has been a prolific apartment buyer in the Western United States acquired the 223-unit Centra apartments in midtown Phoenix, its third high-dollar acquisition this year in the Valley of the

Read The Full Article...

Multifamily rental developments in four Arizona cities are setting the national standard for must-have amenities, a new report shows. Gilbert and Chandler were ranked No. 1 and 2 across the country for the best amenity-centric apartment buildings

Read The Full Article...

Harvard Investments, an Arizona-based real estate investment and development company is in escrow to sell two commercial pads within its Arrival at Cadence commercial center to Thompson Thrift Retail Group (TTRG), a wholly-owned company of

Read The Full Article...

EQT Exeter Property Group has acquired a three-building office and industrial property in the Price Road Corridor in Chandler, Ariz. CBRE represented the seller, Digital Realty Trust. The 241,676-square-foot property consists of 1890 and 1900 S. Price Road and

Read The Full Article...

June 16, 2021

Developer Trammell Crow Co. and its partner Principal Real Estate Investors have completed a luxury apartment project in downtown Scottsdale, Arizona, where construction is booming. The developers said they finished building

Read The Full Article...

As the pandemic appears to be giving way to a semblance of normality, the world of commercial office space is anything but normal. Just ask Jay S. Kramer, an experienced real estate and finance attorney. As Fennemore’s commercial transactions

Read The Full Article...

Continued torrid growth in the housing market paired with a long-awaited bump in inventory in May, according to Zillow’s latest Market Report. Home value appreciation — particularly Phoenix home values — continues to break records

Read The Full Article...

Cap rates are facing significant downward pressure for many types of commercial real estate from apartments to self-storage facilities to hotels and industrial properties, says Marcus & Millichap SVP  and director of Research Services

Read The Full Article...

A newly built luxury townhouse project has sold for the highest per-unit price in two years in Tempe, Arizona, where increasing college enrollment and job growth in technology and finance have created some of the strongest demand for

Read The Full Article...

June 15, 2021

The Hardy luxury townhomes, located at 909 West 2nd Street, sold today for $10,000,000, $500,000/unit, or $292.91/square foot. This is the highest price per unit recorded in the past two years for a 20+ unit multifamily project in the Phoenix Metropolitan Area.

Read The Full Article...

After partnering with CRG through Bird Dog Industrial for the development of The Cubes at Glendale, a 335-acre industrial park in Glendale, Ariz., Mark Sonnenberg joined CRG’s new Phoenix office. In his position as senior vice president & partner

Read The Full Article...

When the news gets out that Greater Phoenix is one of the top places in the nation to find a new job opportunity, people start heading to Arizona and Phoenix growth explodes. Late in 2018 and early in 2019, that news started getting out in ranking

Read The Full Article...

It’s always been about location in real estate, with amenities leading the rest of the pack of decisive factors when choosing a place to call home — in fact, having the right ones can make or break a lease. The last decade has been a race

Read The Full Article...

After nearly a year of litigation, the town of Paradise Valley and the developer of a $2 billion real estate project have reached a settlement agreement. The dispute was over whether Five Star Development, which is building The Palmeraie luxury community

Read The Full Article...