When it comes to the nation’s most favorable ecosystems for startups, Arizona is proving to be a robust hot spot. A report by real estate platform CommercialCafe found Phoenix to be the No. 1 large city for nurturing startups while Tucson and Mesa are Nos. 4 and 5 in the ranking for smaller cities, respectively. The report looked at which places are most hospitable for early-stage companies navigating an era of tightening capital since the generous days of 2021. In times like these, CommercialCafe said, “startups must now rely more heavily on fundamental business health and
The NAIOP Research Foundation today released its newest office market forecast, revealing that national demand for office space surged in the third quarter of 2025 – a sharp reversal from earlier in the year that may signal the beginning of a broader market recovery. The report, “Office Space Demand Forecast, Fourth Quarter 2025,” analyzes current market dynamics, economic conditions and trends shaping office utilization across the U.S. According to the study, nationwide net absorption grew by 19.8 million square feet in the third quarter, a notable increase
After several years of turbulence driven by rising interest rates and economic uncertainty, the stage is finally set for a historic resurgence. Lower borrowing costs, renewed investor confidence, and pent-up transaction demand will ignite what should be the industry’s most significant boom since the recovery that followed the Great Recession. From Class A office towers in fast-growing Sunbelt cities reclaiming their status as prized assets to a wave of consolidation in the PropTech space, the coming year will mark a decisive
The U.S. economy added 64,000 jobs in November, modestly outperforming expectations for 45,000 despite signs of broader labor market softening, according to data from the Bureau of Labor Statistics. The unemployment rate rose to 4.6%, ticking up from 4.4% in October and rising to its highest level since September 2021. Meanwhile, October payrolls were revised sharply lower by 105,000 jobs, largely due to the federal government’s deferred-resignation program. Job creation remained uneven across sectors. Health care once again
Arizona continues to experience robust population growth, fueling gains in both the labor force and the broader economy. According to newly released estimates from the Arizona Office of Economic Opportunity, Arizona added 97,044 residents between July 1, 2024, and July 1, 2025, representing a growth rate of 1.2%. And many Arizona cities saw robust population gains. Fastest-Growing Counties (by Percentage) Pinal County – 3.7% Yuma County – 1.9% Santa Cruz County – 1.5% Mohave County – 1.3% Maricopa County – 1.3% Counties with
When it comes to the nation’s most favorable ecosystems for startups, Arizona is proving to be a robust hot spot. A report by real estate platform CommercialCafe found Phoenix to be the No. 1 large city for nurturing startups while Tucson and Mesa are Nos. 4 and 5 in the ranking for smaller cities, respectively. The report looked at which places are most hospitable for early-stage companies navigating an era of tightening capital since the generous days of 2021. In times like these, CommercialCafe said, “startups must now rely
Shifts in office utilization drives wide performance gaps when looking at major U.S. markets, according to the latest Yardi Matrix report As the office landscape kept changing, the utilization patterns across major markets have shifted unevenly over this past decade, with hybrid work becoming the new standard, according to the latest Yardi Matrix national office report. Most U.S. companies still favor remote work, even with the rate declining each year since its 2021 peak. However, work-from-home rates remain well above 2019 levels
The Arizona economy continues to grind along at a slower-than-usual pace. Jobs are rising slowly, with reduced hiring and modestly elevated layoffs weighing on growth. Income is also slowly rising, reflecting the post-pandemic deceleration in employment costs, although taxable sales growth has rebounded. House price increases have slowed, but housing cost burdens remain elevated and housing permit activity is down so far this year. Stabilizing house prices have contributed significantly to reduced consumer price
An enormous data center hub planned just outside Buckeye got the go-ahead from the Maricopa County Board of Supervisors this week. The board unanimously voted in favor of a rezoning measure allowing industrial uses on a roughly 2,000-acre site during a Dec. 10 meeting, clearing the way for the project, which is being led by Arizona Land Consulting. The firm’s CEO, Anita Verma-Lallian, has teamed up with prominent investors such as former Facebook executive and venture capitalist Chamath Palihapitiya to form an
The park’s three industrial buildings will total some 471K SF of space designed to “meet the needs of modern logistics, distribution, and light manufacturing users,” according to the release. The site sits at the center of the 101 Corridor, at the southwest corner of North 99th Avenue and West Montebello Avenue, with direct access to Loop 101. Construction is set to begin in Q3 2026. In the release, Provident’s Steven Nemer said the $80M project brings its Phoenix pipeline to almost 1M SF. In October, Provident delivered a
Three projects that will provide different types of services to residents in the West Valley are being developed, most of which are expected to be completed in 2026. A major car dealer is expanding its auto service center off the Interstate 10 in Avondale to boost efficiency and the number of people it can serve. Medical offices are being built to meet the needs of the growing population in north Peoria. Glendale is getting a new credit union branch, as part of the company’s plan to expand across the state. Here’s what West
Two giant homebuilders have closed on 601 lots at Hawes Crossing, a master-planned community in Mesa that once served as dairy farm land. Miami-based Lennar Corp. (NYSE: LEN) and Los Angeles-based KB Home (NYSE: KBH) paid roughly $40 million for 601 lots at Hawes Crossing. KB’s transaction closed Dec. 11 and Lennar’s transaction closed on Dec. 5. While this acquisition adds to 561 lots Lennar had already purchased over the past few years, this will be KB Home’s debut at Hawes Crossing, with 259 lots at the southwest
The U.S. commercial real estate market is poised to enter 2026 with stabilizing fundamentals, stronger investor confidence and transaction volume projected to rise 15–20%. Across sectors, leasing and sales activity are gaining momentum, with pricing largely finding a floor and cap rate spreads normalizing, according to Colliers’ 2026 Commercial Real Estate Outlook Report. Multifamily remains the leader in sales volume, with occupancy expected to improve in 2026
A highly anticipated gas station chain with a cult following is getting closer to opening its first Arizona location. Buc-ee’s is scheduled to open in Goodyear in June 2026 and will have a large grand opening and ribbon cutting ceremony on its opening day, according to city officials. The 74,000-square-foot convenience store is currently under construction on Bullard Avenue just south of the I-10 Freeway. It will include 120 fueling stations and is expected to create
Dallas-based Provident acquired about 27 acres in Glendale for almost $17 million with plans for a new industrial project. The site is located off the Loop 101 Freeway and West Montebello Avenue, right across the freeway from State Farm Stadium and the future VAI Resort. The developer purchased the property from an entity tracing to La Mesa RV Center, according to Tempe-based real estate database Vizzda. The site previously sold in 2021 for $9.7 million. Provident is
Tenant demand for large logistics buildings in Phoenix stayed strong in 2025, but companies are favoring newly built properties over older ones. From the fourth quarter of 2024 to the third quarter of 2025, the Valley saw about 9.1 million square feet of net absorption for warehouses and distribution centers of at least 100,000 square feet. That’s slower than the 13 million and 10.5 million square feet recorded in 2023 and 2024, but still more than double the pre-pandemic
Chandler Fashion Centeris positioned to become the East Valley’s premier dining destination with a project that elevates the center’s culinary and retail mix inside and out. Today Macerich (NYSE: MAC) – one of the nation’s leading owners, operators and developers of one-of-a-kind retail and mixed-use properties in top markets — announced that the center is launching a redevelopment initiative to reinvigorate the dining and entertainment district near the Harkins Theatres on the south side
Din Tai Fung, the famed upscale Taiwanese restaurant chain, will start construction on its second location in the Phoenix area, even before the first one opens. Macerich, the real estate investment trust that owns and operates seven large malls and shopping centers in the Valley, announced Wednesday that it has leased a large restaurant space to Din Tai Fung at Chandler Fashion Center as part of the mall’s major renovation to the open-air district on its south side. Din Tai Fung
Over the last decade, Arizona residents have seen a growing number of eye-popping headlines announcing massive new real estate developments that add jobs, draw in residents and attract new businesses to our state. While the biggest is the transformational $165 billion investment Taiwan Semiconductor Manufacturing Company is making in North Phoenix, here are 10 major Arizona real estate developments shaping the state’s future
Lincoln Property Company purchased a 191,000-square-foot data center in Chandler, Arizona, from CBRE Investment Management for $130 million. The property at 2500 W. Frye Rd. is located within the Price Road technology corridor at the intersection of Loop 101 and Loop 202 freeways. Built in 1988 and situated on 14.5 acres, the facility features 28 megawatts of confirmed utility power from an on-site Salt River Project substation. The industrial property includes four
Economic activity continued to diverge in November. While the services sector stabilized due to continued consumer spending, business conditions in the manufacturing sector deteriorated as new orders, employment and supplier deliveries declined. The Institute for Supply Management’s purchasing managers index, or PMI, for nonmanufacturing industries rose to 52.6, its highest reading since February and marking the 10th month of expansion
Two landscape-changing, “transformational” projects that rolled through Scottsdale City Council in back-to-back years face each other in a distorted, funhouse mirror – the kind you may have looked into at the old CrakerJax. The Parque, billionaire tech guru George Kurtz’s “visionary” plan at the site of that former amusement park, must follow a rather restrictive development agreement with the city. When Axon’s similar apartments-hotel-retail-office plan was approved a
After selling a newly built luxury apartment community for $110.25 million last month, Embrey has broken ground on a $100 million, 340-unit apartment community in Phoenix. Embrey paid $7.6 million for the vacant parcel near 12th street and Greenway Parkway to Donald L. Valk, who had previously paid $5.2 million for the land in August 2021, according to Tempe-based real estate database Vizzda LLC. Named 12th & Greenway, the new 340-unit community
Los Angeles-based Stockdale Capital Partners purchased The Quincy at Kierland, a 266-unit luxury multifamily community in North Scottsdale, Arizona, from Embrey Partners for $110.25 million in an all-cash transaction. The six-story property, completed in 2024 at 15826 N. Scottsdale Rd., achieved stabilized occupancy in just 12 months after delivery to market. “The property’s location in North Scottsdale’s Kierland is a key growth driver supported by
The total amount of office space available for lease in Phoenix decreased to about 34 million square feet in the third quarter of 2025, down from more than 36 million square feet in early 2024. A reduction in sublease availabilities was a key factor supporting the sector’s recent improvement. About 5.5 million square feet of sublet space was available for lease in the third quarter, representing 2.8% of total inventory. This marks the first time the Valley’s sublet