December 7, 2023

The economy seems on track to deliver more of the same next year, and that could be good or bad, depending on your perspective. Inflation might continue to moderate, interest rates could start coming down, unemployment may rise but not to alarming levels and the economy once again

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The good news for 2024 in U.S. commercial real estate according to Colliers is the chance to adjust to a new market reality, including a more stable interest rate environment, and some appealing investment opportunities. The bad news is some of the same, because anyone pining for the heady

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Nearly a year after Mack Real Estate Group submitted plans for a rare Scottsdale industrial park, the site plan for the project is set to be heard by the city’s development review board. Dubbed Mack Innovation Park, the New York-based developer looks to bring 1.2 million square feet of industrial

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Capital Square, one of the nation’s leading sponsors of tax-advantaged real estate investments and an active developer and manager of housing communities, and Sunstone Two Tree, a developer and operator of rental housing communities in high-growth markets throughout the United

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Advance leasing for the 2024-2025 academic year has gotten off to the fastest start on record, according to the latest Yardi Matrix student housing report. Pre-leasing reached 25.2% for the Yardi 200 roster of major universities in October, well ahead of the previous record of 10.4% set

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December 6, 2023

Arizona’s Silicon Desert boom is encouraging semiconductor equipment maker ASM and other technology companies to take a close look at building, relocating or expanding in metro Phoenix. The Dutch company, which has been operating in Phoenix for 47 years, plans to build

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The Global Ambassador, a luxury hotel from famed Arizona restaurateur Sam Fox, and four of its five restaurants open today on the northwest corner of 44th Street and Camelback in Phoenix. Fox, a 12-time James Beard Award nominee, sold Fox Restaurants Concepts to The Cheesecake

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Consumers continued to dine out in 2023 despite the uncertain economy. New restaurant openings and diner spend both increased up year-over-year in 2023, according to a new report from restaurant technology partner BentoBox. The study revealed that 10,608 restaurants opened across the

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PHOENIX – The first federal funds have been allocated for reestablishing passenger rail service between Phoenix and Tucson, U.S. Rep. Greg Stanton of Arizona announced Tuesday. The Arizona Department of Transportation was awarded $500,000 to help cover the costs of planning an

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The housing market’s headline news this year has been the affordability challenge brought on by mortgage rates reaching 20-year highs. Looking ahead to 2024, Zillow® predicts home buyers will have a bit more breathing room when it comes to housing affordability in 2024 — but only

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December 5, 2023

Retail executives have long known that foot traffic increases when they can provide an “experience” for the customer, such as by adding gathering places or dining venues. Retailers are now taking that a step further by featuring in-store experiences such as nail and eyelash salons, coffee shops

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With all of the holiday “special shopping days” around, there has been a narrative that Black Friday – the day after Thanksgiving – has declined in importance for retailers. However, according to Placer.ai data, this wasn’t the case during Black Friday of 2023. The metrics demonstrated that comparing

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The 10-story office building at 200 E. Van Buren St., which includes the offices of The Arizona Republic and azcentral.com, has been purchased for $14.5 million. According to real estate database Vizzda, Phoenix-based ViaWest Group sold the building, located at Second and Van Buren

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While year-to-date single-family homebuilder permits were down 17% in metro Phoenix, one Valley city reported a 1,058% increase in permits between January and October. Apache Junction recorded 776 building permits between January and October, up from 67 during the same

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Two of the most notable new eateries in the U.S. are in Phoenix, according to Esquire, which released its list of the top 50 new restaurants of 2023 on Tuesday. How it works: Esquire reviewers sampled about 200 restaurants across the country over the past year and narrowed down

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December 4, 2023

Amkor Technology, Inc., a leading provider of semiconductor packaging and test services, has announced its plan to build an advanced packaging and test facility in Peoria, Arizona. By the time of full project completion, Amkor projects to invest approximately $2 billion and employ approximately

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A proposed development in Laveen intends to bring nearly 300 acres of development near the western edge of South Mountain Park, which could include an auto mall, hospital, resort and apartments. The developer contends the project will bring more intensive uses, and a major boost

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As demand for industrial space pulls back nationally, Phoenix and the Dallas-Fort Worth region stand out as leaders for change in occupied space over the past year. Both markets report rising change in occupied industrial space at or near 3%, the highest rate among the top 20

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A major mixed-use project in a prime location in Phoenix is poised to take a big step forward. The Central Park will be heard by the city’s Planning Commission on Dec. 7. The roughly 18-acre project, proposed by Phoenix real estate investment firm Pivotal Group, is adjacent to Steele Indian School

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Two of the most notable new eateries in the U.S. are in Phoenix, according to Esquire, which released its list of the top 50 new restaurants of 2023 on Tuesday. How it works: Esquire reviewers sampled about 200 restaurants across the country over the past year and narrowed down

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December 1, 2023

More price hikes are ahead next year but greater overall stability is also expected, according to JLL’s latest report. Calling 2023 a “year of stabilization for the construction industry,” JLL’s 2024 forecast states a strong project pipeline will keep the industry busy in the

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If you’re in the building and development business and you’ve got ideas about how the city of Phoenix can make the process easier, the Planning and Development Department wants to hear from you. Driving the news: The department on Monday held the first of four planned listening

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PHOENIX — An eye-catching mixed-use project called Manzana is coming to the Roosevelt Row Arts District in Phoenix. Architect Lev Libeskind designed the eight-story building to be a landmark of urban renewal in downtown Phoenix. Construction is expected to begin near Roosevelt Street

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These projects are gaining momentum, but the market impact remains limited, according to the latest CommercialEdge report. The potential conversion of vacant office spaces into housing has gained attention since the early days of the pandemic, reflecting the lasting changes in the relationship

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If you follow real estate data closely, you’ll know that inventory rose late into November. You also know that new listings are up over last year, too. However, what you might not know is that home sales are climbing, which is a good sign. Watch the video above to get the latest

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