February 7, 2023

When it comes to the office industry, 2022 was another entry in a series of transformative years. With work time still shared between home and the office (for most companies), the office building continued to take on the role of an

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There’s an old saying that water finds its level, and usually it means people gravitate toward the like-minded. But there’s another way to take it from physics — that water will move about until pressure and force equalize. It adapts to

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Tempe has tripled down in its battle to keep a $1.8 billion project on Town Lake off the ballot, appealing two previous court losses to the Arizona Supreme Court on Friday. The city hopes to overturn rulings won by an advocacy group that collected

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Chicago-based The X Co. — which recently started construction on the second phase of its X Phoenix multifamily project in downtown Phoenix — plans to break ground nearby this spring on X Roosevelt. With 506 beds spanning 20 stories, the first phase of

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Several major construction projects moved forward in Phoenix in 2022, which contributed to it being recognized as a top market for the value of commercial and multifamily starts. Dodge Construction Network found Phoenix to be No. 7 on a

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February 6, 2023

Phoenix is moving forward with a request for proposals for a city-owned, vacant lot on the south side of the city that has a long history. The economic development and equity subcommittee approved on Jan. 25 a motion that will allow the city to issue a

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(Bloomberg Opinion) — Walmart Inc. inched closer to a $15 minimum wage last month, drawing tepid praise from even some of its strongest critics. The largest US employer joined Macy’s Inc., CVS Health Corp. and Target Corp., all of which have

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Moon Valley Nursery last week cut the ribbon on its new 25,000-square-foot corporate office in Scottsdale Airpark. Its new office, located off loop 101 and Pima Road in the Pima Northgate office building, will comfortably house members of its

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Sub-Zero Group plans to open a second plant in Phoenix’s Goodyear suburb as the kitchen appliance company expands its manufacturing footprint across the United States. Developers ViaWest Group and Scottsdale Investment Management broke ground this month on

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A developer is seeking an indefinite extension for a 224-acre mixed-use business and retail center that’s slated for the former Phoenix Trotting Park property along Interstate 10 and the Loop 303 in Goodyear. The project, called the Innovation Centre, will

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February 3, 2023

An Arizona business leader believes the state could bring in up to $1 billion due to the Super Bowl, a figure that would be triple the intake of the last time the game was hosted in Glendale. Danny Seiden, president and CEO of the Arizona Chamber of Commerce, projects the State

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The first phase will comprise about 400,000 square feet of speculative light industrial space in five buildings across 26 acres. It’s expected to be completed by the Q1 2024 with build-to-suit and for-sale options for phase two available immediately. These buildings will feature front-park and

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The American household is changing as homeownership is not a priority for everyone, especially not for Millennials and Gen Zs. With 43 million families living in apartments, the highest level in half a century, renting is popular even among high-earners who are able to buy but prefer to

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The industrial and office sectors had very different stories in the fourth quarter of 2022 as well as throughout the year, according to two new reports from CBRE. Industrial real estate’s performance in Q4 was a continuation of its 2022 track record, while office demand

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As hospitals continue to grapple with treating more serious illnesses that may have gone overlooked during the pandemic, demand for ambulatory and outpatient services is rising — with big implications for commercial real estate. Outpatient volumes are predicted to grow by

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February 2, 2023

SCOTTSDALE, AZ (3TV/CBS 5) – Barrett-Jackson, the world’s greatest collector car auction, supercharged to a new record during its auction at WestWorld in Scottsdale from Jan. 21-29. The historic event featured

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The front loading of interest rate hikes appears to be coming to an end as the Federal Reserve’s policy-setting committee downshifted its policy rate increase on Wednesday to 25 basis points, or one-quarter of a percentage point, the smallest increase in

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WASHINGTON (AP) — U.S. job openings rose to 11 million in December, delivering a setback to the Federal Reserve’s effort to cool a hot job market. Openings were up from 10.44 million in November and were the highest since July, according to

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The specter of recession looms over 2023, with the prices of eggs — along with other consumer goods — rising while home prices are falling. Indeed, the New York Post obtained a note from Goldman Sachs to its clients highlighting Phoenix as

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More than 300,000 square feet of new industrial space has been delivered to the market in Gilbert — and most of it has already been spoken for. Developers GID and SunCap Property Group and general contractor Graycor Construction Co. have

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February 1, 2023

Nearly a year after acquiring a large — and expensive — site in north Scottsdale, Mack Real Estate Group filed plans to get city approval for its new development. The developer submitted an application earlier this month for the first phase of Mack Innovation Park on the northeast corner of the Loop

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When it comes to the office industry, 2022 was another entry in a series of transformative years. With work time still shared between home and the office (for most companies), the office building continued to take on the role of an amenity-rich, collaboration-enhancing hub. Despite the change in

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Valley hotels are feeling a sugar rush from Super Bowl visitors. Warehouses and other industrial properties around metro Phoenix are filling with tenants who found it too costly to locate in Southern California. Office high-rises still struggle to cope with work-at-home policies, but apartment complexes

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The Phoenix metro has been named a top three industrial market to watch in 2023, according to a JLL tenant demand study released that evaluated 60 U.S. markets. This is thanks to the region’s proximity to other strong markets like Southern California, its population growth and robust

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Fannie Mae provided over $69 billion in debt financing for the multifamily market in 2022. It also delivered on its mission to provide access to affordable housing through its Delegated Underwriting and Servicing (DUS) platform and low-income housing tax credit (LIHTC) equity investments. “This year

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