In a sign that the restaurant industry’s recovery will be even more drawn out, last month sales inched up at the slowest pace since the economy began to reopen from the lockdowns. Overall, eating and drinking places registered sales of $55.6 billion on a seasonally-adjusted basis in September, according to
National job growth continued to slow in September, according to the latest employment figures from the Bureau of Labor Statistics.To recap the national employment numbers, the U.S. added about 660,000 jobs in September. That is down from the 1.5 million jobs gained in August and the 1.8 million gained
Arizona Hispanics’ buying power is expected to hit an all-time high at $57.3 billion by 2022. In the Phoenix region alone, about 310,000 Latinos plan to buy a vehicle over the next year. About 95,000 plan to purchase a home or condo. These are just a few of the facts contained in the 2020 DATOS report,
An expansive swath of desert in north Phoenix is likely the landing spot for Taiwan Semiconductor Manufacturing Co. Ltd.’s $12 billion plant, multiple sources with knowledge of the deal confirmed. The world’s largest contract silicon chip manufacturer announced in
Chandler’s Airpark Area employment corridor is the fastest growing employment area in the City. This nine-square-mile corridor is anchored by the Chandler Municipal Airport, which is among the busiest general aviation airports in the United States. The Airpark Area is comprised of a wide
A confluence of factors conspired to drive down rents at self-storage properties earlier in the year, but now with new demand generated by the broader disruptions caused by the COVID-19 pandemic, the sector’s fortunes have stabilized. Though the majority of properties were still close to fully
Even before anyone had heard of the new coronavirus, restaurants were adopting new technologies to meet shifting consumer tastes, cut costs and deal with labor issues amid a highly competitive backdrop. Now, technology is even more of a necessity as the industry reacts to the pandemic and hopes
This holiday season will be shaped by changes to the shopper experience as a result of the COVID-19 pandemic. Topping the list of fundamental holiday shopping trends are an explosion in ecommerce sales; an early start to a longer shopping season to reduce crowds; greater use of curbside pickup
The first portion of a swath of state land in north Phoenix that the city is aiming to reposition as a major employment corridor will go up for auction Nov. 2. The parcel, which totals about 1,128 acres at the northwest corner of Loop 303 and the 43rd Avenue alignment, will be sold for a minimum of $89 million
The Greater Phoenix industrial market has surged during the COVID-19 pandemic, driven largely by the country’s increased use of e-commerce and elevated grocery shopping while restaurants were closed. Completion of new industrial projects in 2020 has been the strongest year in more than a decade
As apartment rents drop in many big U.S. cities from San Francisco to Chicago and New York, monthly payments keep rising for metro Phoenix tenants. Valley rents climbed faster during the past year than almost anywhere else in the U.S. Ten of thousands of new upscale apartments charging well above
Pacific Oak Capital Advisers and Defer Gain broke ground on the St. Ambrose housing development located at the southwest corner of 12th St. and Van Buren St. in Phoenix on October 14 at 1155 E. Van Buren St. The one-of-a-kind project located in a downtown Phoenix Opportunity Zone is expected
It has been a rough year for the Valley’s retail real estate market, and while things have started to improve, it could be a long time before conditions return to pre-pandemic levels. After hitting a decade low during the second quarter of 2020, leasing activity for retail spaces in Phoenix started
Phoenix’s office fundamentals have softened due to the virus, but the market is still faring better than most other major office markets in the country. Phoenix is one of a few markets that has recorded positive net absorption, the difference between move-ins and move-outs, over the past 12 months
The pandemic has undoubtedly slowed commercial real estate investment sales activity, but one investment group is standing apart from the rest. During the second and third quarters, institutional investors have remained net buyers, despite the uncertainty brought on by the pandemic. In fact, according
The COVID-19 pandemic has disrupted most types of economic activity across the globe because of social distancing efforts to slow the spread of the disease. Many of these activities will return to pre-crisis patterns as the virus eventually comes under control. But there may
Retail destinations have undergone an evolution over the past several years. The sharp rise of e-commerce has resulted in retail owners and developers working to ensure they are creating internet-resistant shopping centers that will stand the test of time. In addition, the COVID-19
An 11-unit complex, the Lido, sold for $2,189,000 or $199,000 per door. Zack Mishkin of ORION Investment Real Estate represented the Seller Joseph Risi of Risi Companies, while Jeffrey Sibbach represented the Buyers, Abe & Nancy Porter, in the 1031 exchange transaction. The Seller
The Urban Land Institute (ULI) and PwC US released Emerging Trends in Real Estate 2021, highlighting the evolving trends shaping the real estate industry. The report, which includes proprietary data and insights from more than 1,600 leading real estate industry experts,
In today’s Daily Download episode, HousingWire discusses what several housing industry veterans believe the mortgage industry will look like in 2021. For some background on the story, here’s a summary of the article: As the election creeps ever closer, there are plenty of
The commercial real estate market is showing distinct signs of recovery. In September, asking rents increased by 3.5% across asset classes and price per-square-foot rose by 7%, according to research from CREXi’s national commercial real estate report. The office and retail
The Urban Land Institute and PwC released the 42nd annual Emerging Trends in Real Estate 2021 report at ULI’s virtual fall conference, which showcases challenges and trends shaping the real estate industry over the next year. The data includes insights from more than
For decades, major cities have ruled with real estate growth focused in dense-urban areas conducive to live-work-play lifestyles, public transit and walkability. However, this decades-long urban renaissance may be coming to an end, or at least slowing down. The Emerging
Risi Cos. has purchased 9.5 acres of land at 290 La Canada Blvd. in Avondale for $1.3 million, or $136,842 per acre. Earlier this month, Risi received approval to rezone the land from commercial to high-density residential, enabling the company to develop the Crystal Cove
Stay-at-home orders have changed the lives of those who live to eat at Arizona restaurants — their refrigerators are filled with something other than styrofoam leftover containers, their dishwashers are being used more than once a week, their home bartending skills are