DAILY TOP 5

Multifamily owners are slogging through a historic glut of new supply. The biggest wave of apartment construction in 40 years has pressured rent prices, forcing landlords to offer months of free rent and other incentives to fill their units. Now, with the cost of imported materials poised to soar and construction

Scottsdale-based Taylor Morrison Home Corp just closed on a vacant East Valley land parcel in Queen Creek with plans to build 218 homes, which comes on the heels of the purchase of 156 acres in north Phoenix. Development is underway with sales projected to begin in the third quarter of 2026, said Steve Hahn, senior

In Arizona, referendum laws are designed to empower citizens by allowing them to challenge legislative decisions through a public vote. However, in recent years, these laws have been increasingly misused as a tool to block zoning changes and halt new developments. This trend has raised concerns among

The Taiwan Semiconductor Manufacturing Co. will produce 30% of its most advanced chips in Arizona when its six Phoenix plants are operational, the company announced on an earnings call Thursday. Why it matters: Chairman and CEO CC Wei told investors the scope of the company’s Phoenix investment will create

Data centers consume an inordinate amount of electricity, and the Corporation Commission is trying to figure out how to cope with the demand. The big picture: With low energy costs and few natural disasters, the Phoenix metro area has become one of the top data center markets in the U.S. Those buildings house computer

A site once coveted by Phoenix’s defunct NHL team for an arena complex is expected to be sold at auction in the coming months. Approximately 217 acres is scheduled to be auctioned on June 20 by the Arizona State Land Department, according to a notice filed

PHOENIX — XNRGY announced the grand opening of a heating and air conditioning system manufacturing facility in Mesa, the Canadian company’s first in the U.S. The 275,000-square-foot facility is part of a $300 million investment at Gateway East, a business park near Phoenix-Mesa Gateway Airport. Once completed, the

An Indiana company plans to build a 27-story residential tower across the street from Arizona State University in downtown Tempe. Trinitas Ventures paid $6 million to buy a 0.61-acre vacant parcel at 211 E. 7th St. from College Enterprises Inc., which traces to Therese Stohlgren, according to Tempe-based real estate database

The Senate approved a bill on April 15 that would allow Axon to build its global headquarters in Scottsdale without needing zoning approval from the voters. Senate Bill 1543 would require cities with populations between 200,000 and 500,000 to allow hotels and multifamily residential housing to be built in areas zoned

Retail sales inched up in March after two straight months of declines, but gains remained moderate amid consumer concerns about rising tariffs.
Core retail sales (excluding restaurants, automobile dealers and gasoline stations) edged up 0.4% month over month in March and up

A historic Tempe church could be preserved and a historic home relocated as part of a plan to develop a 29-story skyscraper east of Mill Avenue.
Wexford Developments and Core Spaces, the co-developers of the project, are planning a mixed-use tower at 109 E. Sixth St., a site that holds the

Land in northeast Phoenix that was once eyed by the Arizona Coyotes for a new arena is headed back to the auction block to potentially be sold and developed.
About 217 acres of land located west of Scottsdale Road and north of Loop 101 is scheduled to be sold at an Arizona State Land Department auction June 20. The

Based on current jobs and inflation data releases as of April 11, 2025, the U.S. unemployment rate changed little in March at 4.2%, while total nonfarm payroll jobs increased by 228,000, according to the Bureau of Labor Statistics’ April 4th employment situation summary. Job gains occurred in health care (54,000), social

The median U.S. asking apartment rent price fell 0.6% year over year to $1,610 in March, and rose 0.4% month over month, Redfin said Monday. March was the 13th consecutive month in which asking rents barely decreased or increased, with a year-over-year change of less than 1% during each of those months. Although Redfin economists have argued for months that it’s only

McCarthy Building Companies Inc. recently began construction of the $326 million North 2 Concourse in Terminal 3 at Phoenix Sky Harbor International Airport, which includes the addition of six new passenger gates. Phoenix Sky Harbor International Airport’s Terminal 3 handles approximately 25% of passenger traffic annually. The airport served more than 52.3

The town Planning Commission got a look at a massive 311-acre development along Gilbert’s eastern border that is so big it will have five different zoning districts, including one for 729 apartment units. In a study session earlier this month, developer Power Ranch Land Co. submitted preliminary plans for The Ranch, located southwest of Elliot and Power roads and northwest

It’s been said the third time’s a charm. That’s how it worked out for Miami-based Lennar Corp. (NYSE: LEN) when it came to an April 10 Arizona State Land Department Auction. Lennar was the winning bidder for 22.14 acres of prime acreage in the fast-growing West Valley city of Peoria, where two other commercial developers bid against the homebuilder

PHOENIX – Housing has become a contentious issue in the Valley, with buyers and renters of all ages getting left behind as affordable options dried up. How did the metro Phoenix housing market get to where it stands today? Experts trace the current conditions back to the COVID-19 pandemic, which ended up exacerbating income inequality. When mortgage rates fell to

Single-family build-to-rent (BTR) housing is booming and sweeping beyond its base in the Southeast and Southwest to metros in other regions of the country. “The pre- and post-pandemic BTR landscapes are so different that comparing the two time periods is like comparing apples and oranges: The market is unrecognizable,” according to a new report from

The latest CommercialCafe report takes a closer look at the backbone of our rapidly growing digital economy: data centers. To get a handle on this growth, our team analyzed data center sales activity and construction data from 2015 through 2024 in 94 U.S. markets and ranked the top 20 markets by transactions and development

The West Valley has become the retail darling of metro Phoenix, as a flurry of proposed projects west of Interstate 17 move into the construction phases. The next wave of retail deliveries is expected to arrive in 2026, with major developments including the Prasada shopping centers that will be fully built out in Surprise and the highly

The new U.S. tariff regime has upended market expectations and introduced meaningful new variables into the global investment equation. While the immediate market reaction has been sharp, it has not been irrational. Investors are doing their job by repricing risk amid fears that higher inflation, slower growth and an uncertain Federal Reserve

The US retail import sector has demonstrated consistent growth over the past two decades, with recent data showing an upward trend in the import of goods into the country. According to the latest report from the National Retail Federation (NRF) and Hackett Associates, released on 9 April 2025, import volumes, measured in twenty-foot

Sam’s Club plans to open about 15 new stores annually in the coming years while remodeling all of its roughly 600 locations across the U.S., company CEO Chris Nicholas said at an investor day Wednesday. The Walmart-owned retailer aims to double its membership over the next eight to 10 years with the boost from the new locations, Nicholas