Commercial and multifamily mortgage loan originations decreased 14% in the first quarter compared to the same time last year, according to the Mortgage Bankers Association. Not surprisingly, the dip reflects a hangover from the pandemic that disrupted markets most of last year, with struggling hospitality and retail sectors doing poorly…
A former Phoenix Motorola manufacturing facility was sold and will be redeveloped for industrial or data center uses. Chicago-based Baker Development Corp. bought the 28.4-acre parcel at 1110 N. 52nd Street in Phoenix from Reich Brothers for $10.25 million, according to real estate database Vizzda…
The Macerich Co. (NYSE: MAC), which owns some of the largest shopping malls and retail centers in the Valley and across the country, is hoping its Arizona portfolio will be a crystal ball to how the retail industry will bounce back after the Covid-19 pandemic…
Viavi Solutions Inc. has bought the last of four buildings in developer Ryan Cos.’ Chandler Airport Commerce Park, which was just a patch of bare dust about 18 months ago, amid growth in the greater Phoenix region for the Silicon Valley company. The publicly traded company, which tests and assesses internet infrastructure…
The eat-at-home trend boosted by the COVID-19 crisis won’t recede anytime soon post-pandemic, according to new research from CPG sales and marketing firm Acosta. After the pandemic ends, 92% of families plan to continue eating together at home at least as often as — or more often than — they do now, Acosta’s “COVID Dining Journey…
The pandemic has transformed how people interact with physical space, so it will probably take more than plexiglass and temperature readers to redefine workplace design. That’s because the days of all employees being in the office from 9 a.m. to 5 p.m. are behind us, said Sandra Parét, CEO of STG Design…
Phoenix has maintained its ranking as the top metropolitan area in the nation for net migration for a third consecutive year, according to the latest data from the U.S. Census Bureau. Multifamily landlords and homeowners welcomed the nearly 89,000 people who moved to the Phoenix market between July 2019 and July 2020…
This year, Arizona is expected to add 116,900 new jobs, which will put the state ahead of where it was for total jobs before the Covid-19 pandemic, experts said at the annual economic forecast event held by the Economic Club of Phoenix, a unit of the W. P. Carey School of Business at Arizona State University…
Real estate buyers rerouted their investments in the first quarter, focusing on smaller properties but sometimes paying more per square foot than they did before the pandemic hit, according to industry experts and CoStar data. For industrial, office and multifamily properties, investors are paying 7% to 9% more on average…
The facility in Mesa will create up to 500 jobs and is aiming to produce 20,000 of the company’s flagship vehicles every year. ElectraMeccanica, known as being the creator of SOLO—the single-passenger, three-wheeled electric vehicle—has chosen Mesa, Ariz., as the home for its next assembly and engineering plant…
Businesses across the nation generally had a tough time grappling with the COVID-19 pandemic and economic-lockdown measures that went with it. But Arizona’s larger public corporations, for the most part, had a solid year. These companies earned
Nationally, effective asking rents for U.S. apartments climbed 1.3% in April, rising at the fastest pace seen during a single month for the past decade or so and likely at the fastest pace ever, according to new data from RealPage, the leading provider of
New homebuilder permit data shows exactly how scary it was for homebuilders at the beginning of the coronavirus pandemic. Homebuilder permits issued by Valley municipalities between January and April were up 37% over the same period in 2020, according to
U-Haul customers have spoken, well actually thousands have moved, and Arizona is among the top 5 destinations for one-way moving trucks. Trends data compiled from more than two million one-way U-Haul truck customer transactions in 2020 found
Zoning rules in single-family communities are often restrictive and prohibit the development of dense, horizontal multifamily projects. Build-to-rent housing developments can be integrated into single-family communities while still preserving
The Sun Belt once again benefited from strong population growth trends in 2020, the latest U.S. Census Bureau estimates show. The state-level census figures from earlier this year gave a glimpse at what to expect on the metropolitan area level, with large Sun Belt states such as
The Greater Phoenix medical office market posted 6.2 percent rental rate increases over the past 12 months and investment sales were relatively strong in first quarter, despite recording a three-month period of negative net absorption. These statistics are part of the quarterly
It may never rival Silicon Valley, but Mesa is fast becoming Data Center Alley. Several global companies are at various stages of plans to start crunching and storing data in southeast Mesa. Most people have heard of Google and Apple – RagingWire, not so much. And many around Mesa
With many offices still working remotely, Arizona State University offering virtual class options and a limited number of fans allowed to attend Suns and Diamondbacks games, thousands of people haven’t been to downtown Phoenix in more than a year. But when they finally
Marwest Enterprises, LLC, owner and developer, broke ground on Elliot 202, a new, 1,080,240-square-foot speculative industrial development along the 202 Freeway in Southeast Mesa. The planned industrial buildings are located on the freeway-fronting northeast corner of S. Hawes
People have been on the move since the Covid-19 pandemic hit. With remote work at play, many are leaving expensive cities like New York, Los Angeles and Chicago for the suburbs or for more affordable cities like Austin, Phoenix or Nashville,
Arizona’s economy continues to recover and could recoup all of the jobs lost in last year’s recession in coming months, with no housing bubble on the horizon despite rising home prices and tight supplies, Arizona State University forecasters said
A golf entertainment concept with plans to expand throughout the Sun Belt has named two future locations in the Valley. PopStroke Entertainment, owned by golf legend Tiger Woods and Greg Bartoli, says it has plans to open at The Pavilions at
Regulations imposed by all levels of government account for $93,870, or 23.8% of the current average sales price ($397,300) of a new single-family home, according to a new study by NAHB.Of the $93,870 figure, $41,330 is attributable to regulation
Following the explosive growth of the industrial sector in 2020, developers continue to move forward, with nearly 370 million square feet of projects underway at the end of April, according to CommercialEdge data. The rapid expansion of e-commerce