With new homes quickly filling up what’s left of the Valley’s existing lot supply to keep up with buyer demand, many production homebuilders are competing in a land rush as they scout for huge parcels to build their own master-planned communities instead. That puts some builders in a new position as they deal
The beginnings of a transaction recovery upon the CRE industry, says John Chang, SVP and director of research at Marcus & Millichap in a new video, with all signs pointing to a rebound in volumes in 2021. Numerous factors coming into alignment have the potential to drive a surge
Fulton Homes, Arizona’s largest family-owned and operated homebuilder, has consistently strived to understand the desires of homebuyers and trends in order to best accommodate them while also considering the direction of the larger industry. The homebuilder has always championed
A Tempe-based marijuana company has revived controversial plans to open a dispensary on the upscale corner of Tatum and Shea boulevards. Harvest Health and Recreation, which runs 15 dispensaries in Arizona, submitted a rezoning application to Phoenix in July, withdrew
Metro 101 Apartments, a 259-unit multifamily community in Tempe, traded hands for $69 million. The buyer was a group of investors that included Utah-based Keller Investment Properties’ Scott Keller, while the selling group included an affiliate of Phoenix-based
Phoenix’s retail leasing volume fell to a historic low last year, and numerous retailers shuttered their doors as they were unable to withstand the challenges created by the coronavirus pandemic. But not all segments of the retail market suffered, and its recovery depends on an improving health
Denver-based Ascentris, in partnership with San Diego-based Cypress Office Properties, LLC, acquired 777 Tower at Novus in Tempe. The six-story Class A office building totals 161,000 square feet and was sold by developer and builder, Ryan Companies, along with JV partner
Landsea Homes, a publicly traded residential homebuilder, announced today the acquisition of 1,067 finished single-family homesites at Eastmark in Mesa, AZ and El Cidro in Goodyear, AZ. “We continue to strategically expand in Arizona with the recent purchases
SunCap Property Group has sold a 135,745-square-foot light industrial building forming part of its 63-acre Gilbert Spectrum Business Park in Gilbert, Ariz. Boston-based GID Industrial paid $23.2 million for the Class A asset which was fully leased at the time of close. Cushman
The Phoenix-Mesa Gateway Airport Authority is seeking a master developer for 400 acres of land envisioned to be a mixed-use district featuring retail, industrial and office uses. The area, called GatewayEast, is located east of the airport along Ellsworth
The United States ended the year with the best fourth quarter for apartment demand in two decades with large Sun Belt cities driving the most traffic, though some high-priced coastal markets hit hard by the coronavirus pandemic initially now appear to be rounding the corner
A Southern California investment group paid $21.7 million for a two-building office property in Chandler, Arizona, one of the highest sums paid last year for an office property in the Phoenix suburb where the pandemic caused deal activity to tumble. Yonezawa-Miller Company, a real estate development
You’re not mistaken if you feel like you’re seeing a new Amazon fulfillment or delivery facility pop up every few months in Arizona — specifically, the Greater Phoenix market. In fact, the company is on pace to average one new facility each month in the market during 2020, with 12 new locations
KKR has expanded its Phoenix industrial portfolio with the acquisition of a 263,000-square-foot distribution property in Goodyear, Ariz., from developers Provident Real Estate Ventures and Merit Partners. The global investment firm, which made the acquisition through its core-plus real estate strategy
While mortgage delinquencies continue to rise nationwide, the rate is falling in metro Phoenix. Borrowers continue to move through the delinquency funnel, with October 2020’s serious delinquency rate reaching over three times that of October 2019 nationwide, according to CoreLogic Inc.’s
In the largest multifamily sale in over two years, the Andante Apartments in Ahwatukee were sold for $145.25 million, or $252,170 per unit. According to the commercial real estate tracking website Vizzda.com, the last multifamily transaction this large was the $142 million
Working on a plan to create a 26-story tower and incorporate a historic building in downtown Phoenix’s warehouse district has been a “labor of love” for real estate attorney Nick Wood, who said the project will greatly benefit a Phoenix nonprofit that aims to train people
AdvisorSmith’s “Cities Where Rents are Rising and Falling the Most” report, the communities of Avondale (1st), Surprise (6th), Glendale (11th), Peoria (21st), Mesa (26th), Gilbert (27th), Phoenix (68th) and Chandler (71st) were all among the cities nationwide with the biggest
In 2020, Americans were on the move, but perhaps not to where you might expect. The key results of Updater’s 3rd Annual Moving Destinations Report, which tracks American migration patterns over the past year, are as follows: Americans departed the largest, most densely
The United States ended the year with the best fourth quarter for apartment demand in two decades with large Sun Belt cities driving the most traffic, though some high-priced coastal markets hit hard by the coronavirus pandemic initially now appear
Apartments, office and retail are all following a similar trend: rising vacancy rates with declining rents. A new report from Moody’s Analytics calls the dynamic “bleak, but not dire,” noting that while most metros are following a similar pattern, most of the declining fundamentals are more moderate
What could be the first build-to-rent community to be built in Buckeye is in the works. Scottsdale-based Matrix Equities paid $5.68 million for a 37-acre parcel east of the southeast corner of Watson Road and Papago Freeway within the Sundance master-planned community in Buckeye
Big city life became less desirable as 2020 unfolded. Renters and homeowners alike considered moving out more than ever and the surrounding towns became a focal point of multifamily development in the U.S. But which ones have the capacity to receive new residents? To find out, RENTCafé
MDH Partners bought 41 acres and intends to build an industrial park in the massive PV|303 development in Goodyear, Arizona, a fast-growing Phoenix suburb that has added millions of square feet of warehouses in recent years. Merit Partners sold the land for an undisclosed
Economic development leaders and real estate professionals are expressing “guarded optimism” for the Phoenix economy and real estate industry in 2021.Chris Camacho, president and CEO of the Greater Phoenix Economic Council, said he expects the state to regain all of the jobs lost