DAILY TOP 5

U.S. office leasing in 2026 has exceeded pre-pandemic levels, according to preliminary first-quarter data from CoStar Group. Office tenants signed new leases for an estimated 120 million square feet in Q1 2026, the highest quarterly total since mid-2018. This represented a 25% increase year-over-year, CoStar said Thursday. It was also the first time this decade that quarterly volume exceeded its average from 2015-2019. “While the quarterly figure signifies

Arizona State University is set to celebrate a groundbreaking ceremony for the new ASU Health headquarters in downtown Phoenix on April 9. The 175,000-square-foot structure on the Phoenix BioScience Core campus at 620 N. Fifth St. will house the John Shufeldt School of Medicine and Medical Engineering, as well as the School of Technology for Public Health and programs in ASU’s Edson College of Nursing and Health Innovation and the College of Health Solutions. General contractor for the

In good news for shoppers, a bump in the cost of consumer goods reversed course in March 2026. Prices for everyday household purchases decreased 0.02% in March 2026 following a 0.19% increase in February and a 0.33% decrease in January. The monthly Numerator Consumer Goods Price Index (CGPI) also indicates that  prices for everyday goods are up 2% compared to March 2025.A similar trend is expected for the comparable categories covered in

The housing market sprang forward in March, even as rising mortgage rates began to chip away at earlier affordability gains, according to the Zillow® March Market Report. Newly pending listings rose 4.6% from a year earlier to record the second-largest monthly total since the end of the pandemic boom in August 2022, a positive signal as home shopping season opens. Mortgage rates climbed from 5.98% at the end of February to 6.38% in late March, according to

Expectations for Federal Reserve rate cuts have shifted sharply after a ceasefire between the United States and Iran eased fears of a more severe energy-driven inflation spike, prompting markets to re-evaluate the monetary policy outlook. The agreement follows a period of escalating conflict that began Feb. 28 and had raised concerns about disruptions to global oil supply. While details of the ceasefire remain limited and its durability remains uncertain, markets have

Phoenix City Council has approved measures to clear the way for a new 260-room hotel to be built in north Phoenix near the Mayo Clinic. During its April 8 meeting, Council approved rezoning and changes to existing plans that will allow for a hotel to be built on the southeast corner of 64th Street and Mayo Boulevard. Council also approved measures to allow for more density on adjacent land, which could be turned into apartments, condos or attached

A vacant, 80-acre site that was the longtime home of a shopping mall in Mesa, Arizona, is set to transform into a mixed-use redevelopment that could boost the state’s soccer standing. Scottsdale-based Sunny Day Sports is leading the direction and investment efforts for the planned Palo District — the project name for the reimagined Fiesta Mall site at 1445 W. Southern Ave. Sunny Day Sports plans to transform the site into a 25,000-seat soccer stadium, hotels, retail,

The Mangat Group sees potential in the Phoenix metro area for small bay industrial, announcing it will spend $250 million across four developments it is planning in the area in the sector. Nationwide, construction is concentrated on warehouses that span more than 100,000 square feet, which leaves a scarce supply on the market for smaller companies, according to a release from Mangat. Plus, the demographics in Phoenix are favorable for

Monster today released its Q1 2026 Monster Market Report, offering new insights into where employers are hiring, which roles job seekers are pursuing, and how hiring patterns are shifting across industries and cities. The report also identifies Scottsdale among the cities with the strongest jobs growth. The report analyzes top job titles posted by employers, the most searched job titles by candidates, hiring trends across major occupational groups, and the fastest-growing

Phoenix’s industrial real estate market entered 2026 with strong momentum, fueled by innovation-driven economic growth, major semiconductor investment and steady demand from logistics and advanced manufacturing companies, according to a report from Kidder Mathews. While construction activity has slowed, leasing activity and absorption levels suggest the Valley’s industrial sector remains one of the most dynamic in the nation. During the first

The West Valley city of Buckeye has rezoned a nearly 2,000-acre chunk of land, setting it up for a major industrial employment corridor. Buckeye City Council unanimously approved items related to the Grand View Buckeye development during an April 7 meeting, starting with a request to annex most of the site – about 1,918 acres – into the city’s jurisdiction and out of Maricopa County’s. Councilmembers then approved rezoning the entire 2,271-acre site to Community

Turf Paradise is under new ownership, and in a few years it’ll likely have a new location as well. Why it matters: Moving Turf Paradise would bring the end of a long era for that region of north Phoenix, which has been home to the racetrack for generations. State of play: Former owner Jerry Simms sold the historic horse track last year, and its 70th season began under new management in November. But Simms still owns the land near 19th Avenue and Bell Road in north Phoenix

The Sun Belt apartment boom has cooled, but Mid‑America Apartment Communities isn’t backing away from the region. Instead, the country’s largest Sun Belt landlord is changing its playbook as rent growth slows and competition for tenants intensifies. Mid-America is signaling that the current slowdown is changing how landlords compete for tenants, rather than a pullback from the regions where multifamily companies invest. The

Much of the discussion regarding changes to bank reserve requirements proposed by the Federal Reserve has surrounded the impact on the conventional mortgage market. Wholesale mortgage brokers have discussed the possibilities of banks getting back into the channel, although how it is done would need to be closely monitored. But this could also have a major impact on the commercial lending space. If banks get more heavily involved on the commercial side, it could

REITs have outperformed broad market equities year to date, with the FTSE Nareit All Equity REITs Index posting a total return of 3.8%, Nareit reported. During the same time period, the Dow Jones U.S. Total Stock Market fell 4.0% and the Russell 1000 fell 4.2%. However, Nareit’s John Barwick cited “significant uncertainty affecting all asset classes” in the past month as the war with Iran has continued. Before the conflict began, most REIT sectors had

Construction is about to begin on a 380-unit luxury multifamily development near downtown Chandler. The Ellison is part of a broader 45-acre project called The District Downtown at the southwest corner of Pecos Road and Arizona Avenue that will have hotels, retail, restaurants, offices and more. The luxury housing is on 12 acres of land on the western portion of The District Downtown. Stillwater Capital Investments LLC is developing the community in partnership with

A new strategy to create an entertainment district in downtown Phoenix has put forward some far-reaching suggestions to infill and modernize the area, including redeveloping major locations like the Phoenix Convention Center South building. The plan is part of a years-long effort to create an entertainment destination in downtown Phoenix, anchored by Chase Field, the Mortgage Matchup Center, Phoenix Convention Center, and nearby arts and culture venues. The study was led by

Arizona’s newest Ikea will have the meatballs, the iconic showroom and a grab-and-go marketplace, but it won’t take you an hour to peruse. What it matters: Phoenix residents have been clamoring for another, more central Ikea for decades. On Wednesday, they’ll get one — albeit less than a quarter of the size of the Swedish retailer’s Tempe superstore. State of play: The small-format store, Ikea’s first of its kind in the Valley, will be in a strip mall near Cactus Road and Tatum Boulevard

National homebuilder Lennar Corp. (NYSE: LEN) is looking to build houses for future TSMC employees and others working for suppliers to the chipmaker. Lennar has submitted an application with the Arizona State Land Department for a roughly 826-acre parcel within Peoria’s Innovation Core. It’s the first homebuilder to apply for state-owned land within the PIC, according to an ASLD spokesperson. The PIC, which spans over 7,300 acres, is where Amkor is currently building out a

Construction has started on the build-out of Halo Vista, a 2,300-acre mixed-use development adjacent to the Taiwan Semiconductor Manufacturing Co. campus in north Phoenix, KTAR News reports. A ceremonial groundbreaking was held for the project March 26 by co-developers Mack Real Estate Group and McCourt Partners. The $7B development, located on 2,300 acres, will reportedly span 30M SF, with industrial, office, retail, research, healthcare and educational space as well as

National homebuilder Lennar Corp. (NYSE: LEN) is looking to build houses for future TSMC employees and others working for suppliers to the chipmaker. Lennar has submitted an application with the Arizona State Land Department for a roughly 826-acre parcel within Peoria’s Innovation Core. It’s the first homebuilder to apply for state-owned land within the PIC, according to an ASLD spokesperson. The PIC, which spans over 7,300 acres, is where

Ascent Companies and Merit Partners recently wrapped a more than four-year journey to open Stately Avondale in Avondale, Arizona. Renters began moving into the 286-unit development at 12375 W. Van Buren St. in late March. The units are a mix of primarily one- and two-bedroom apartments and some three-bedroom rentals. The project is the first in Avondale for Ascent Companies, according to President Bradly Richardson, and is a testament to the city’s strong population

The Heritage District is months away from opening the first phase of a massive development project that’s expected to change the landscape of downtown Gilbert. Why it matters: The district exploded onto the Valley’s entertainment and dining scene about a decade ago and now the town is ready for the next chapter: adding office workers and full-time residents to the mix. The big picture: Luxury apartments and high-end offices are the centerpiece of Heritage Park, a massive

An energy task force convened by Gov. Katie Hobbs has outlined plans to expedite new projects to meet demand from data centers and Arizona’s semiconductor boom, while keeping the costs of doing so from driving up Arizonans utility bills. “We have this really big issue of needing to plan strategically for our energy future and … really the future of Arizona depends on that,” Hobbs said. The goal was to make “sure that we can meet the energy demands that