Homebuyers who pay cash continue to wield outsized influence in the U.S. housing market, even as the overall share has slipped slightly compared to pandemic peaks. In the first half of 2025, nearly one in three home purchases—32.8%—were made without a mortgage, according to an analysis from Realtor.com. The cash buyer pool includes affluent households, second-home purchasers and both single and institutional investors, underscoring a persistent wealth-driven dynamic in residential real estate. Though the
CBRE has arranged the acquisition of the Deer Valley Innovation Park, a 43.5-acre site at 2402 West Beardsley Road in Phoenix. The property was acquired through a joint venture between ViaWest Group and Barings, which will redevelop the property into ReDiscover Logistics Park, a four building, Class A industrial project totaling 808,000 sq. ft. The large parcel located just off the interchange of Interstate 17 and Loop 101 in North Phoenix currently includes a 345,000 sq. ft. former call center building, which will be demolished to
While uncertainty over tariffs and the economy still influences logistics leasing, tenants signing new leases are more often trying to capitalize on an increasing amount of available sublease space. That property is often available at a discount to new space leased directly. Large logistics occupiers with spaces exceeding 100,000 square feet are facing decreased competition due to a pullback in leasing activity in this market segment. In fact, new leases for industrial spaces measuring 50,000 to 100,000 square feet have
As Cole Cannon set out to bring Revel Surf and Cannon Beach to life five years ago, he expected his project would resonate with the East Valley community, but didn’t know to what extent. Nearly eight months after the project’s official grand opening and with a slew of new tenants in the fold at Cannon Beach, the outpouring of positive feedback has surpassed Cannon’s expectations. “I didn’t realize how personal the connection people have with waves,” Cannon said. “There’s this guy [who] comes every week
Tempe-based Amkor is boosting its investment in the new facility it is building in Peoria, from an initial $2 billion to $7 billion. Company leaders announced the move at a ceremonial groundbreaking Oct. 6 with local elected officials, executives from other major technology companies, suppliers and customers in attendance. “Today we break ground on what will become the largest outsourced semiconductor advanced packaging and test facility in the country,” Susan Kim, Amkor’s chairman of the board, told the audience
Discount juggernaut Dollar Tree is bolstering its supply chain, acquiring a distribution center in the Phoenix area for $147.1 million to better serve the Southwest. The Chesapeake, Virginia-based retailer on Friday said it had purchased a 1.25 million-square-foot industrial facility at 7200 N. Sarival Ave. in Litchfield Park, Arizona. Dollar Tree will be the first company to operate the turnkey facility, which is slated to open next spring. Lincoln Property Co. sold the Class A industrial
New Yardi Matrix research reveals that faltering demand, high supply and declining economic growth combined in September 2025 to produce the biggest one-month drop in the average U.S. multifamily rent in almost three years. The average advertised rent fell $6 to $1,750, the largest decrease since November 2022. While rents remain close to their all-time highs, “the drop could signal emerging market softness,” according to a new Yardi Matrix national report. A key
A tech firm is relocating its headquarters from Gilbert to Chandler and more than doubling its office footprint by moving into a 30,257-square-foot space in the city’s downtown area. Showit, which operates a website-building platform for entrepreneurs and website designers, is moving to the Johnathan, a George Oliver office renovation project, located at 55 N. Arizona Place. The Johnathan and its sister building, the Alexander, amount to 219,580 square-feet, and were
WillScot Holdings Corp. has completed its move into a new headquarters space in Scottsdale. The company, previously based at 4646 E. Van Buren Street in Phoenix, signed a lease in 2024 for nearly 90,000 square feet of space on an entire floor of the newly built Scottsdale Entrada, according to previous reporting by Phoenix Business Journal. WillScot Holdings Corp. (Nasdaq: WSC) is the parent company of WillScot Mobile Mini. The company leases and sells turnkey
Institutional capital is changing the landscape of affordable housing, with new investor profiles, growing mandates from pension funds, the rising presence of offshore capital, and an expanded focus on impact investing that is guiding not just where the money flows but how properties are designed, operated and measured for success. While affordable housing was once a niche asset class, it has become a go-to play for institutional money seeking both
An abandoned warehouse still bearing signage for Milum Textile Services on 7th Avenue in downtown Phoenix finally found a buyer. Chicago-based investor JRG Capital Partners bought the property, which sits on 1.76 acres and includes multiple buildings, for $8.5 million on Sept. 17 from longtime owner Craig Milum. Milum tried to sell the building for years but was caught in a fight with the city
An industrial property specialist has acquired a Phoenix facility that combines three different types of storage spaces: dry goods, refrigerated space and freezer space. Reich Brothers paid $55 million for the property at 625 South 27th Ave. in Phoenix, according to public records and the company. The seller was Cowley Cos. The 850,000-square-foot facility is located on 40 acres in West
The 2,300-acre master-planned community surrounding Taiwan Semiconductor Manufacturing Co.’s north Phoenix campus – proposed as becoming a “city within a city” – has landed some notable first users. Costco has entered an agreement to develop a new store, while Marriott signed on to develop two hotels – a Courtyard by Marriott and a Residence Inn. Both will be located at Interstate
Phoenix managed to keep a good pace of apartment construction these past recent months, but it didn’t manage to ease demand for renting in Phoenix. In fact, while the occupancy rate dropped slightly, more tenants decided to stay put, locking in some of the desirable apartments. Here are the details from the Rental Competitiveness Report in peak moving season
Store Capital, an Arizona-based net-lease real estate investment trust that primarily invests in single-tenant, net-leased properties, completed its largest securitized notes offering to date, issuing $625 million in long-term fixed-rate mortgage notes backed by single-tenant net-lease properties. Strong investor demand pushed the bond offering 39% above its initial $450 million target, according to
The federal government shutdown now underway could disrupt plans for the federal real estate portfolio and put office landlords at risk of rent payment delays if a resolution isn’t reached in coming weeks. Shutdowns can eventually slow federal contracting, leasing and the disposition of government properties, analysts said, though building owners with federal tenants are expected to keep receiving rent for now. At least two real estate investment trusts warned this year that an elongated shutdown could adversely
Full-service commercial real estate firm Lincoln Property Company (Lincoln) today announced the sale of a 1.25 million-square-foot, Class A industrial building within its award-winning Park303 logistics park to Dollar Tree, Inc. (NASDAQ: DLTR), one of North America’s largest value retailers. The building sold for $147,066,005, according to public records. Park303 totals 210-acres and 3.75 million square feet of industrial space along the Loop 303 at Glendale Avenue in Glendale, Arizona. Built in two phases, it includes a
Developer Concord Wilshire Capital announced that it has completed demolition of the former Metrocenter Mall and Oakwood Homes has been named the exclusive residential builder for The Metropolitan, an $850-million, vibrant, mixed-use destination project. The 64-acre development is set to transform the former site of the Metrocenter Mall into a walkable urban village seamlessly integrating Light Rail with housing, entertainment, dining, and retail. “We are pleased to announce that we have selected Oakwood Homes, a division of
Retail real estate is experiencing a paradox. Even as some of the country’s best-known chains shutter stores or vanish entirely, other retailers — particularly those targeting value-conscious shoppers — are thriving, creating both turbulence and opportunity for investors. Chains such as Joanne, Big Lots, Party City, Advance Auto Parts, Walgreens, and Lumber Liquidators have either closed large numbers of locations or gone out of business, leaving behind swaths of vacant space. Yet the overall retail market has remained
VAI Resort, the long-awaited massive hospitality project under construction in Glendale, is approaching several construction milestones, even as the complex development is still months – or even a year – away from opening. Even as construction continues at the multifaceted resort, VAI’s development team continues to add new elements to the project. When completed, VAI is expected to have 1,100 rooms across multiple towers, 11 restaurants, an 11,000-seat amphitheater, large pool area, conference center and the Mattel
Commercial property prices continued to strengthen in August with all major sectors posting annual gains, MSCI Real Assets reported. The RCA CPPI National All-Property Index rose 2.4% year-over-year for the sharpest increase since late 2022 and gained 0.9% from July, translating to an annualized pace of 11.1%. Retail continued to lead the market in August with a 5.3% annual increase and a 0.4% monthly gain, representing the 15th consecutive month of growth. Industrial was a close second with a
A new report from the Brookings Institution finds the Valley is well-positioned to be a leader in artificial intelligence. Researchers label the Phoenix metro area as a “star hub,” which is described as a region just below the superstars of the Bay Area. Mark Muro is a senior fellow with Brookings Metro and one of the authors of the study. “Why does this matter? Because this technology has such potential to generate productivity gains across the economy. So, therefore it really matters how well one is
GOODYEAR, AZ — Dirt is moving at the site of Goodyear’s future Ballpark Village – a mixed-use project that will bring new retail, dining and entertainment options near the city’s spring training facility. Diversified Partners broke ground last week on the project, which will sit on over seven acres at the northeast corner of Estrella Parkway and Yuma Road. Construction is expected to take nine to 12 months, and the complex is on track to open sometime next year, according to a
Phoenix managed to keep a good pace of apartment construction these past recent months, but it didn’t manage to ease demand for renting in Phoenix. In fact, while the occupancy rate dropped slightly, more tenants decided to stay put, locking in some of the desirable apartments. Here are the details from the Rental Competitiveness Report in peak moving season: This peak season, each vacant
PHOENIX — Central Arizona Project (CAP) delivers water to about 90% of the state’s population. CAP is a 336-mile system of aqueducts, tunnels, pumping plants and pipelines that carries Colorado River water to Arizona’s most-populated regions. Terry Goddard, president of CAP, is worried about how operations will have to be restructured if Arizona gets shorted in when new Colorado River operating guidelines are finalized next year. The basin states first agreed to Colorado