Fed Chairman Jerome Powell returned to “60 Minutes” on Sunday to tell Americans that the economy is going to start growing strongly, but they shouldn’t expect the central banks to start raising interest rates as a result. Asked by CBS News’ Scott Pelley when
A historic building in Old Town Scottsdale, and the property surrounding it, will be transformed into a new hotel and apartments which business owners say could breathe new life into the area. But the proposal for a seven-story building is more than twice what city
The U.S. economy is roaring back, and the expectation remains for real GDP growth to surpass any annual growth seen in the last few decades. The faster the vaccination targets are reached, and herd immunity is achieved, the faster consumers will return to a
Renting or buying a home in Arizona is increasingly expensive and more and more households in our state are cost burdened. A new report from ASU’s Morrison Institute for Public Policy says the state’s affordable housing shortage is only going to get worse
Bookended by the 2008 crash and COVID-19, the decade between 2009 and 2019 was a transformative one for the real estate industry. Curious to see how the housing market had fared between the two most significant, yet wildly different economic downturns
The economy has entered a period of supercharged growth, and instead of fizzling, it could potentially remain stronger than it was during the pre-pandemic era into 2023. Economists now expect the second quarter to grow at a pace of 10%, and growth for 2021
Phoenix, Norfolk, and Atlanta led office lease renewals in a recent analysis by Moody’s Analytics REIS, while New York City and Chicago lagged at the bottom of the heap. Moody’s analysts determined this when they examined recently expired leases relating
Camelot Homes announces its Valley-wide expansion with the opening of five new luxury home communities, which will add more than 100 new homes to the greater Phoenix area. The communities, named Paradigm, Shadow Ridge, Skye View, Stone Crest and
Phoenix developer George Oliver, which has completed several high-profile adaptive reuse office projects around the Valley, bought Hayden Station in downtown Tempe and is planning a $14 million transformation. George Oliver bought the property, which includes
Phoenix-based developer George Oliver has announced plans for its next Arizona experiential office transformation: the five-building Hayden Station mixed-use office campus, located on the southwest corner of Mill Avenue and Third Street in the heart of downtown Tempe. Built in 1986, Hayden Station has
Sunny. Sprawling. Rugged. Many words come to mind to describe the Phoenix metropolitan area. “Fragile” often isn’t one of them. But a decade ago, the Valley was the poster child for an easily upended economy. Between 2000 and 2007, the area’s economy boomed. Housing prices doubled. Unemployment dropped
Micro-fulfillment centers and automation will be critical for grocery chains to meet still-burgeoning demand for online orders and deliveries quickly and efficiently, according to a new report on the sector from JLL. “Micro-fulfillment centers (also known as MFCs) aren’t new, but they are a growing solution for
New York-based investment firm KKR Co. bought a five-building industrial portfolio in Phoenix from Lincoln Property Co. for $68 million. The buildings, at 4441 W. Polk St., 120 E. Watkins St., 4720 W. Van Buren St. and 5240 and 5302 W. Buckeye Road, are all in infill sites and are fully leased to 14
Phoenix has grown into an attractive alternative to the neighboring, pricier cities for many companies thanks to its business-friendly environment and plenty of space available for development. Almost 1.5 million square feet of new office space—across eight projects—came online in the first quarter of 2021,
Rents are on the rise across the country, and that’s a positive indicator for the industry and the economy at large, reports Yardi Matrix. Multifamily rents increased by 0.6% on a year-over-year basis in March, with the national average rising by $6 to $1,407. “Nationally,
Fry’s Food Stores, the Valley’s largest grocery chain, is expanding its footprint yet again, opening a new store in Buckeye this spring. The 109,690 square-foot, full-service grocery store, is set to open on May 5 at 19600 W. Indian School Road, the company announced
In his closely watched annual shareholder letter, financial giant JPMorgan Chase Chairman and CEO Jamie Dimon said the coronavirus-driven remote working trend will “carry forward” and change how the bank manages real estate. “The COVID-19 pandemic
Investors are flocking to secondary and tertiary markets, playing on a trend that’s been picking up steam for the last several decades and lurched into high gear as the pandemic drove activity away from dense urban cores. A new investor outlook from Marcus &
The latest report from CBRE has named Phoenix as the top growth market in the U.S. when it comes to big-box leasing activity, with a 2020 inventory absorption of 9.1 percent. Transaction activity has hit a record high, with the metro being named a top 10 market,
RED Development is welcoming four new tenants, including two brand-new concepts, to CityScape Phoenix ranging from an upscale bourbon bar and quick serve, grab-and-go healthy restaurant to a nutrition store and bike shop that celebrates the city’s cycling-friendly
Millennials are moving to the Valley of the Sun in droves. Phoenix ranks No. 3 among top cities where millennials are moving, according to a new study by SmartAsset. The report is SmartAsset’s fifth annual study analyzing Census Bureau data on migration patterns of
Leading commercial real estate firm Lincoln Property Company (LPC) has announced the $68 million sale of a five-building industrial portfolio, representing 540,039 square feet of multi-tenant, fully leased infill space in key locations across the metro Phoenix, Arizona
VanTrust Real Estate bought about 80 acres of land in Glendale after seeing the explosive growth in the Loop 303 area for industrial development. Now the company has landed a fairly well-known tenant for the West Valley facility: Amazon.com Inc. Amazon will
Mesa is about 200 miles north of the Rocky Point beaches in Mexico and 350 miles from the sandy surf spots of San Diego. Now. But, Cole Cannon swears, by the summer of 2022, Mesa residents will have a beach in their backyard. It’s hard to argue with Councilman