The retail sector is set for yet another year of transformation as it continues to adapt to shifting consumer preferences, economic headwinds and technological innovations. One of the key retail trends that will define this year is the steady focus on necessity-based retail, with grocery
The East Valley region continues to be a destination for business attraction, thanks to its large population — 1.4 million people according to the economic development organization PHX East Valley Partnership — and favorable regulatory environment. The region is also home to high-paying
As we navigate through 2025, the Phoenix commercial real estate market continues to evolve, presenting both challenges and opportunities across various sectors. Here are my notes from the CCIM-IREM Economic Forecast from Friday regarding office, multifamily, industrial, and retail
PHOENIX — Greenlight Communities experienced a record year in 2024 and helped working Arizonans fill 696 apartment units, the most since the company started up in 2016. Besides giving Valley residents many more affordable housing options, Greenlight Communities also gave
During his first day in office, President Donald Trump issued several executive actions and orders, including rescinding 78 executive actions implemented by the Biden administration. They covered various subject areas from ending birthright citizenship to declaring a national emergency on the
The Federal Reserve’s January 2025 Beige Book has looked back on late November and December activity and saw economic activity increasing “slightly to moderately” across the central bank’s 12 districts. As part of that, CRE sales “edged up,” although construction activity
One thing to know about data centers is that it’s an expanding commercial real estate sector. Another is that the growth will continue in 2025. JLL’s just-released “2025 Global Data Outlook” says that the international data center market is forecast to have a compound annual
Ryan Companies US has announced the financial closing and commencement of construction of the second phase of the 17 North Corporate Center in Phoenix, Arizona. The complete project includes two Class A industrial buildings totalling more than 186,000ft², offering various
Surprise, Ariz. — SimonCRE has closed on the purchase of the first phase of Asante Trails, a 12.4-acre retail project in Surprise, approximately 35 miles outside Phoenix. SimonCRE has announced a $50 million investment for the acquisition of Asante Trails. According to the Phoenix
Inflation has been around since the days of Alexander the Great and it’s not showing any signs of going away. In combating this pesky problem, the Federal Reserve uses interest rates as a primary tool to control inflation. When inflation is too high, the Fed typically raises interest rates to slow
Great things are happening in the nation’s ninth fastest-growing city and the announcement of AC Hotels by Marriott tops the list. The modern, European-inspired hotel with locations around the world has chosen to build in GSQ — Goodyear’s dynamic and rapidly
Amid swirling geopolitical tensions with China, Taiwan Semiconductor Manufacturing Co. on Thursday said it reported record profits in the fourth quarter of 2024 and is already forecasting strong results for Q1 due to a surge in demand for chips used for artificial intelligence applications
One of the biggest real estate transactions of the year in Gilbert occurred just before Christmas when a Canadian land trust sold a complex of three industrial buildings for just under $100 million. Artis Real Estate Investment Trust sold Park Lucero East at 410-450 Germann Road, near Gilbert
Metro Phoenix home sales climbed as prices held steady in December, despite higher interest rates and the typical holiday slowdown for the housing market. January is usually a slow month too, but a surge in Valley million-dollar sales after the election could push up prices and
Housing — specifically, how to make it more affordable — is shaping up to be a key issue in the Legislature again this session. Why it matters: Home and rent prices have surged over the past decade, putting ownership out of reach for many families in once-affordable Arizona. Friction point
Federal Reserve chair Jerome Powell no doubt had started to relax about the economy — but now everything has changed. That’s because the Consumer Price Index for December increased over the last 12 months to 2.9%, making the third month in a row it has jumped. Core inflation
The holiday season was a bigger success than many expected as consumers “came out to spend” amid lessening inflation and discounting. Data released by the U.S. Census Bureau shows that core retail sales during the 2024 holiday season (November and December) grew an unexpectedly
Freddie Mac’s 2024 multifamily volume was up 34% over 2023, the government-sponsored enterprise (GSE) reported. Its production volume totaled $66 billion—$65 billion in multifamily financing and $1 billion in low-income housing tax credit (LIHTC) equity investments. Although it was still under
The company building a massive semiconductor complex in Arizona ended 2024 on a strong financial footing and confirmed it has already launched its much-anticipated commercial production at the north Phoenix site, ahead of schedule. “We were able to pull ahead the production
Even with significant headwinds from reduced housing affordability, elevated interest rates, and tight labor markets, Arizona continues to generate solid economic growth. Job gains are far outpacing national growth in the preliminary data and may be growing even faster than the data suggest
Consumer price index data for December showed that core price pressures eased more than expected. The S&P 500 powered higher as Wall Street weighed the CPI’s implications for Federal Reserve policy as well as positive earnings reports from Dow Jones giants JPMorgan Chase (JPM) and Goldman Sachs (GS)
On Aug. 28, Tract, a developer of master-planned data center parks, announced its acquisition of a 2,069-acre parcel in Buckeye for $136 million. The company plans to transform the site into a $20 billion data center park by building up to 20 million square feet of data center space across as
Not only is the weather hot in Dallas and Phoenix, but the two desert markets top the nation’s ranking for industrial construction hot spots. In 2024, Dallas-Fort Worth and Phoenix saw a combined 78.3 million square feet of net new industrial space, the most and second most in the United States
The Phoenix Business Journal, in partnership with BeachFleischman, hosted a panel of construction industry leaders on Nov. 1 to discuss the commercial construction outlook for 2025. Panelists included Bryan S. Eto, CPA and construction practice leader at BeachFleischman
Even as consumers emphasized price, 2024 saw the rise of a variety of retail and dining trends, some seemingly at odds with one another, Placer.ai says in a new white paper. For example, even as shoppers curbed discretionary spending, they made room in their budgets for “essential non