April 23, 2025

Developers are eyeing to build a 40-acre commercial development at the former Legacy Park in southeast Mesa, which they are dubbing the Legacy Towne Center. Plans submitted to the city in March showed a plan to build out the land east of the Arizona Athletic Grounds, along the southwest corner of Williams Field Road

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Financial uncertainty has been spilling across commercial real estate. Economists’ estimates that a recession is on its way have been adjusting upward to as high as a 65% chance, as of last week. CRE loan spreads have been widening as tariffs have driven lenders to tighten credit. Even Blackstone said tariffs are affecting CRE

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As uncertainty about tariffs and trade policy continues to percolate, many are watching the current health and prospects of America’s manufacturing industry. While recent data releases for March paint a mixed picture of the sector, more recent regional surveys of manufacturers noted trepidation that price increases could

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San Diego-based Tower 16 Capital Partners in partnership with Raith Capital Partners has successfully acquired Sanctuary at South Mountain, a 166-unit horizontal Build-to-Rent (BTR) property located near South Mountain in Phoenix. The property was built in 2023 and was acquired for $48 million, which we believe is below

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One of the biggest construction projects in Phoenix has a new leader, as Chris Janson takes over as president of Mack Halo Vista LLC, the developer behind the mega master-planned community surrounding Taiwan Semiconductor Manufacturing Company’s plant in north Phoenix. Halo Vista, poised to become a city within a

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April 22, 2025

A planned $117-million development in the southern part of downtown Phoenix will include restoring a historic building and reusing it as commercial space. Colorado-based developer Aardex received approval from the Phoenix City Council in early April to develop a 14-story, 262-unit apartment complex on about two acres

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Less is definitely more when it comes to apartment supply in the U.S. That’s at least according to a new report that found the number of deliveries of new apartments in 1Q 2025 is finally heading downward, representing welcome news for multifamily landlords. Even though supply in the first quarter of this year marked the eighth

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The variance in category performance in March supports this line of thought, as four of the five strongest performing retail categories during the month have significant exposure to higher import tariffs. This includes motor vehicles and parts, which were up 5.3%, building materials and garden, which were up 3.3%

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Buckeye is getting hundreds of thousands of square feet of new industrial space, even as construction for such space in the West Valley has petered out following rapid development in recent years. Buckeye City Council last week approved a request to subdivide about 102 acres just south of the southeast corner

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In a significant step toward addressing Phoenix’s housing shortage, real estate investment firm Caliber (NASDAQ: CWD) has secured unanimous approval from the Phoenix City Council to convert a distressed office complex into a 376-unit multifamily residential project. The redevelopment, known as Canyon Village

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April 21, 2025

Big-name commercial retailers are landing across the East Valley, with some set to start construction in 2025. Developers are eyeing far east Mesa as the next place for major development, including one of its largest commercial projects set to open in 2026. Tempe Marketplace will soon have a new anchor store open at

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The U.S. multifamily market in early 2025 is defined by a return to stability and cautious optimism, as the sector transitions from the turbulence of pandemic-era supply surges toward a more balanced and sustainable footing, according to a new report by CBRE. This search for equilibrium is evident across key market

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Blackstone’s recent earnings call raises questions about how tariff implementations have affected commercial real estate investment. In short, the giant asset manager says the waterfall of causes and effects is slowing down what was starting to build into a recovery. Blackstone had been looking more positively

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Taiwan Semiconductor Manufacturing Co. plans to break ground this year on a third semiconductor fabrication facility in Phoenix as the firm rushes to meet chip demand tied to artificial intelligence. The company recently finished construction of its second factory, or “fab,” as it ramps up production to support

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Denver-based Canopy Real Estate Partners has made its Phoenix debut with the purchase of a distressed multifamily property in Surprise. More purchases could be on the horizon. The private equity firm paid $8.8 million in cash to an entity tracing to Next Generation Capital LLC for the newly built ParkView Townhomes

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April 18, 2025

In Phoenix’s ultracompetitive supermarket industry, two grocery chains – Trader Joe’s and Sprouts Farmers Market – saw their share of the market grow more than other brands this past year. California-based Trader Joe’s, which added three new stores in the Valley in the past 12 months, saw the biggest year-over-year

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As an indicator of burgeoning improvements in the office sector, loan originations on office properties are on pace to surpass last year’s tally, Avison Young said Thursday. Roughly $15.7 billion in office loans were originated in the first quarter of 2025, following $41 billion in all of 2024 and $44 billion in all of 2023. In addition

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A Texas-based technology infrastructure company broke ground on a 100-acre new Glendale data center officially began on Tuesday. Aligned Data Centers plans to build four facilities on the 100-acre site. At the heart of this development is PHX-13, a 72-megawatt data center that is now under construction. “This project

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Creation, a leading real estate development and alternative investment firm, in partnership with PGIM Real Estate, the real estate investment and financing arm of Prudential Financial Inc, has closed on a 16.45-acre site in North Scottsdale to develop The Loop, a premier Class-A industrial development breaking ground this

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A Texas-based developer has begun two projects in Desert Ridge that will bring nearly 600 apartment units to that part of north Phoenix and is seeking to build something taller in the future. ZOM Living began construction on two apartment developments in late March, the first projects for the company to break

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April 17, 2025

The multifamily industry’s record supply wave continued in the first quarter, with 116,092 market-rate units delivered over the last three months. According to RealPage’s first quarter analysis, this is on par with the prior quarter’s record high. Demand also continued to surge as 138,302 units

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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

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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

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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

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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

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