Black Friday, the traditional beginning of the holiday shopping season, may have evolved, but it remains a crucial sales day, especially this year when retailers’ profit margins are being squeezed as the result of high inflation.
The Peoria City Council has approved a tax incentive agreement for the development of Stadium Point at P83, an estimated $510 million mixed-use commercial and residential district in Phoenix’s Peoria suburb.
Phoenix-based Atlas, an industrial developer with numerous projects in the Valley, is planning to build a new industrial facility across 130 acres in Buckeye. The 2 million-square-foot facility will include
Another international commercial brokerage is slashing its budget and laying off workers in response to difficult economic conditions and a collapse in transaction activity .Avison Young is planning C$25M ($18.5M) in
With mortgage rates down nearly 50 basis points from the recent peak about a month ago, borrower demand picked up again this week, according to the Mortgage Bankers Association (MBA). The market composite index, a
With fears of the economy falling into recession seemingly everywhere as the Federal Reserve hikes interest rates, consumers appear to be resorting to some retail therapy. Retail sales rose by 1.3% in October and were 8.3% higher than last year’s levels
A new survey reveals brick-and-mortar grocers may have an edge when it comes to holiday shoppers. According to The State of Online Grocery Shopping 2022: This Holiday & Beyond,” a survey of more than 1,200 U.S. consumers and grocery retailers conducted
A mixed-use project that could represent a capital investment of $1 billion in north Scottsdale received its thumbs up. Scottsdale-based Optima Inc. received approval from Scottsdale City Council this week on a development agreement and rezoning for
Arizona State University economist Dennis Hoffman is fascinated by weather. In a different life, he’s an oceanographer, focused on running simulation models to predict weather patterns or events. Instead, Hoffman’s reality is grounded in numbers
Housing sales continue to tumble as October marks the ninth month in a row we’ve seen falling numbers. It saw a 5.9% drop in sales from the previous month, with annual figures down 28.4%. It’s the longest downward trend since 1999 and it’s causing analysts to
The U.S. will probably stick a soft landing next year: the world’s largest economy is forecast to narrowly avoid a recession as inflation fades and unemployment nudges up slightly, according to Goldman Sachs Research. Our economists say there’s a
An Arizona State University economist said the Grand Canyon State has managed to withstand the one-two punch of COVID-19 and record-breaking inflation, and a rebound in 2023 is possible. But the Arizona economy may have to gird itself for a recession in
The city of Peoria moved forward with what could be the final development agreement needed for a new mixed-use office project in the West Valley city called Stadium Point, which has been in the works for several years. The project will comprise more than
The 1990s and early 2000s was the time of big-box stores and super centers. But by the mid-2010s, this trend backpedaled. Headlines such as “Fatal Retail Missteps: Why Big-Box Retailers are Dying” and “The Era of Big Box Retail Dominance is Coming to An End”
The Greater Phoenix housing market has been as hot as an Arizona summer throughout the past two years. But, just like the region’s winter months, things are starting to cool off. Tina Tamboer, senior housing analyst at The Cromford Report, spoke about the
Over the next two weeks, Tempe City Council will consider a development agreement with the Arizona Coyotes to build an arena and entertainment district on the northeast corner of Rio Salado Parkway and Priest Road, but according to public documents, the
Caliber, a fully integrated alternative asset manager and Opportunity Zone investor today announced the purchase of the lease rights for 100 acres of land to begin developing The Riverwalk Development project, located in the
Private real estate investment firm Hamilton Zanze acquired Crestone at Shadow Mountain, a 248-unit apartment complex on 15 acres in northeast Phoenix. The San Francisco-based firm paid just over $79 million for the complex at
A July 2022 report issued by the National Multifamily Housing Council (NMHC) and National Apartment Association (NAA) indicated that the United States needs 4.3 million additional apartments by 2035 to meet the expanding need for housing. One key to this
Labor has become an even more critical piece of the puzzle for industrial tenants, but experts say the U.S. has more jobs than it does workers. More warehouse, manufacturing, transportation and utilities jobs have come online since
The producer price index (PPI) increased by a seasonally adjusted 0.2% in October, the Bureau of Labor Statistics said Tuesday. The 0.2% rise, a smaller increase than Wall Street analysts expected, followed last week’s report of a monthly increase in the
It was a strong month for construction starts in October, reversing a down month prior, according to Dodge Construction Network. October’s gain is a further sign that the construction sector continues to “weather the storm” of higher interest rates
Epic Resort Destinations is planning to open the first-ever Mattel Adventure Park next year featuring new rides with famous brands such as Barbie, Masters of the Universe, Hot Wheels, Mattel Games and Thomas & Friends. The new indoor park, one of the first
The Metro Phoenix housing market has heavily favored home sellers since the start of the decade as more people moved to Arizona and the pandemic scrambled the status quo. The S&P CoreLogic Case-Shiller Index’s most recent release shows that
Mortgage demand rose as rates dropped following the October slowdown in inflation growth numbers. However, while purchase mortgage applications increased across all loan types, refinance activity remained depressed. The market composite index, a