Transaction activity in the multifamily sector is poised for a potential rebound in 2025, as market conditions stabilize and investor sentiment shifts. However, developers and investors caution that the recovery will unfold unevenly across different housing segments, with cap rates
Phoenix and Tempe city councils have both unanimously approved measures that clear a path for apartments to potentially be built on a 46-acre piece of land in Tempe once considered for an arena for the Arizona Coyotes hockey team. During a Dec. 4 meeting, Phoenix City Council approved
Phoenix-based U-Haul purchased the former CenturyLink Tower in midtown Phoenix for its new headquarters, only one block from its current campus. The 25-story high-rise, located at 20 E. Thomas Road, is the tallest building in midtown, reaching 397 feet tall, and includes nearly
U.S. multifamily housing is experiencing a significant pullback in new construction, even as the number of units that began construction in the past two years is expected to reach a 40-year high. While 675,000 units were added this year, construction starts on rental apartments, after
A “silver tsunami” — an expected flood of homes from older owners who will downsize or otherwise move on — has long been discussed as having the potential to relieve the nation’s shortage of housing. But new research from Zillow® shows these homes likely are located far from where
A plan that will bring a grocery store and retail center to a north Phoenix neighborhood got the nod of approval from the Phoenix City Council on Wednesday, despite some lingering opposition from neighbors. Vestar, the developer of Desert Ridge Marketplace, Tempe Marketplace and other
Over the past few years, industrial developers have flooded into the Phoenix market to take advantage of opportunities in fast-growing hubs around the Loop 303 and the Phoenix-Mesa Gateway Airport. With an oversupply of warehouses on the fringes on the Valley, one totaling 2 million
SkySong remains one of the Valley’s most dynamic and vibrant business hubs by consistently evolving to meet the needs of today’s businesses, startups, and professionals. The headliner in the latest flurry of activity is a new lease by Yelp for a space in SkySong 4. SkySong has been pursuing Yelp
Atlanta-based Wood Partners is delivering two more apartment communities in metro Phoenix, bringing another 630 units to market in Gilbert and Avondale. Alta Avondale encompasses 360 units on 14 acres of land within The BLVD in Avondale, while Alta Rise in Gilbert includes 278 units. Wood
The last few years in commercial real estate have been filled with observations of all the dry powder resting on the sidelines, getting ready for action. It looks like some of that capital is getting shaken loose and put into sizable deals. November brought two examples. Blackstone Real Estate Income
The U.S retail property market remained resilient in the third quarter, with demand for additional space increasing for the 15th consecutive quarter. However, the pace of those leasing gains has slowed considerably as retailers face an increasingly challenging environment shaped by choppy
Holiday spending in 2024 is expected to grow, offering a potential boost to retail, industrial, self-storage, and multifamily real estate sectors. But questions about consumer confidence and sentiment loom large, casting uncertainty over the season’s momentum, with industry analysts divided
Commercial real estate in Arizona is in the midst of an unprecedented run. Even after the pandemic rocked the business community, Arizona’s commercial real estate industry came up with innovative ways to not only survive, but thrive. That kind of cutting-edge innovation is evident
Axon’s $1.3 billion proposed corporate campus in Scottsdale is now the target of a political group that wants to get the controversial project on a public ballot, throwing the development’s future back into uncertainty just days after the City Council approved it. The Taser stun gun company
As the healthcare real estate industry gears up for 2025, industry leaders are expressing cautious optimism amid lingering challenges. At a recent industry event, executives from prominent companies have shared their insights on market trends, deal activity, and the evolving landscape of medical
A gas station and retail center across the street from Arizona State University in Tempe could be redeveloped into a 20-story student housing development with two towers. The project, called Leo Tempe, proposes two 20-story towers and a 10-story parking garage on a 3.7-acre site on
A Metro East racetrack will be torn down as part of a $21 million publicly funded redevelopment
Amkor Technology Inc. secured a slice of land in northern Peoria, which brings the company one step closer to constructing its $2 billion semiconductor assembly and testing facility. For more than $4.12 million, the company closed late last month on roughly 56 acres that the master-planned
Adlanto and Plaza Companies are teaming up on an exciting new upscale development, The Goldwater, in the heart of Old Town Scottsdale. The Goldwater Residences is an elegant for-sale condo development located at the center of arts, culture and entertainment in Old Town Scottsdale and the
SCOTTSDALE, AZ—Like other real estate sectors, momentum began building for healthcare deals in July. Unfortunately, in the past 30 days, people have pulled back a little bit, John Chang, SVP of Marcus & Millichap, told the audience during the opening keynote session at GlobeSt.com’s
A newly opened build-to-rent development on the western outskirts of Phoenix is looking to capitalize on the city’s rapid population growth and rising costs of homeownership. Locally based builder Curve Development is set to open its most recent project, Cyrene at Skyline in Waddell, Arizona
After so long considering the troubles facing office — and many tiring of hearing it repeatedly — there’s a new problem being brought up: multifamily. But things are more complicated than office. Some of the problems in multifamily were visible by the summer. Distress rates had begun to
Creation, in partnership with Crescent Communities, announced today that Flagship Restaurant Group has signed a lease for approximately 14,000 square feet at the eagerly awaited Heritage Park in Downtown Gilbert with plans to bring three of its concepts to the East Valley. With headquarters in Omaha
Undeveloped West Valley parcels are being snapped up for more industrial development. Rankin Real Estate LLC is the latest firm that’s working on plans for a future business park in Goodyear near Interstate 10. The Scottsdale-based company has applied for rezoning and a general plan amendment
Three major homebuilders have teamed up to buy nearly 300 acres of state land in Peoria. California-based Shea Homes, which was the applicant for the Arizona State Land Department auction held Nov. 25, selected Lennar Corp. (NYSE: LEN) and Toll Brothers Inc. (NYSE: TOL) to buy the state land