DAILY TOP 5

Laveen, the southwest Phoenix neighborhood that was identified as a key growth area for restaurants and retail years ago, will see an influx of new commercial development bringing shopping, dining and family entertainment. Phoenix officials identified Laveen as one of its targeted areas for new retail development in 2023. The area had seen a surge in new home construction, leading residents and community leaders to request new commercial space and restaurants to cater to the growing

Demand is surely growing for industrial space near TSMC’s campus in north Phoenix, and developers have another infill project on tap at a site along Interstate 17. Phoenix-based Dimension Financial Realty and Investments is proposing a new three-building spec industrial park with a 62,268-square-foot building, a 152,899-square-foot building and a 237,735-square-foot building, according to planning documents submitted with the city of Phoenix. The more than 40-acre project site is located

The most extensive U.S. housing bill to tackle affordability in decades could mean fewer investor homebuyers, streamlined zoning and financing, more housing counseling and help for owners of manufactured homes. The 21st Century ROAD to Housing Act, passed by Congress in late June, went into effect July 11 without President Donald Trump’s signature. Called the most ambitious housing legislation since the 1980s, the bill lays out more than 40 changes to help in building and

After paying $2.1 million for the Club West Golf Club in Ahwatukee in May, a coalition of investors and real estate developers now plan to sell it — offering the latest twist in a years-long saga for the golf course. All best and final offers are due later this week for the 162-acre parcel of prime land in far south Phoenix, said Phillip Rupprecht, the attorney representing the Community Harmony Coalition LLC, the new owners of the beleaguered course. On May 29, Community Harmony

The Phoenix metro’s apartment market has been recovering from oversaturation and it has become one of the nation’s most improved markets in that regard. CoStar found last month that Phoenix is among the top 10 most improved multifamily markets in the country, based on annual improvement from June 2025. While rents remain slightly lower, the Valley’s apartment occupancy has improved year-over-year, and CoStar reported that the city saw a decline in vacancy rates from

Even though the metro Phoenix Multifamily market is beginning to show signs of rent stabilization, new deliveries continue to add short-term pressure from “elevated” supply. Despite the high pace of deliveries in recent years, the Common Sense Institute reports Arizona still faces a statewide housing shortage of 111,000 units, with the Phoenix-Mesa-Scottsdale region needing 56,000. Even with that demand in place, the rapid influx of units has caused rents to recede from

Retail space availability is historically tight across most U.S. markets, with low vacancy, limited second-generation space and steady tenant demand contributing to rent increases. Under normal conditions, that backdrop would be expected to trigger a pickup in new construction. Instead, retail space development was largely flat in the second quarter, underscoring the extent to which supply growth has decoupled from demand fundamentals. As of the end of the second quarter, roughly 72.1

It’s rare that Democrats and Republicans in Washington agree on much of anything these days. But the so-called 21st Century Road to Housing Act has been celebrated by both parties as the most significant housing legislation in decades. At the same time, President Donald Trump called it a — quote — “big yawn” and said he wouldn’t sign it unless Congress passed his signature voter ID bill — the SAVE America Act. Well, that hasn’t happened and the president didn’t sign the housing

Greater Phoenix more than doubled the national growth rate for single-family residential home sales in June compared to the same month last year. Closed sales rose 8.1% locally while increasing only 3.2% nationally, according to data from Phoenix REALTORS®. Comparing the first half of 2026 to 2025, closed deals rose 5.4%. At the same time, the median price of a single-family home essentially held steady at $485,000, ticking up just 0.2% from last year’s $484,000. Phoenix’s

After several years of record apartment construction, the multifamily market is entering a new phase as slowing deliveries begin to restore landlords’ pricing power, according to Marcus & Millichap. Multifamily completions are projected to fall nearly 34% year-over-year in 2026, dropping to their lowest level since 2014, Peter Standley, managing director and national division leader for multifamily at Marcus & Millichap, said in a research video. At the same time, fewer major markets are

One of Phoenix’s largest contractors has signed an 85,241-square-foot lease in Deer Valley to optimize and support its growing advanced manufacturing projects. Okland Construction Co. Inc. will operate out of an industrial facility called 17 North Corporate Center at 2525 W. Corporate Center Drive. It’s off Interstate 17 and about eight miles south of the Taiwan Semiconductor Manufacturing Co., in an area where industrial development is booming. Okland specializes in complex projects

Scottsdale-based SimonCRE is buying another West Valley property for a commercial project. The developer is under contract to acquire a 6.2-acre site at the southeast corner of Lake Pleasant Parkway and West Yearling Road in Peoria from homebuilder K. Hovnanian, according to CEO Josh Simon. A rezoning item for a mixed-use project there is heading to Peoria’s Planning and Zoning Commission and will be up for discussion at a July 16 meeting. According to a city notice for a June 3

A 250,000-square-foot, nearly $190 million multisport complex in North Phoenix is back on track, fulfilling the dream of SSS Partners CEO Shubham Pandey — and his neighbors. Fire ‘N Ice Arena, a nearby hotel and SSS Academy, its operator, will sit on 17.5 acres at 2727 W. Bronco Butte Trail — near the I-17 and Sonoran Desert Drive, adjacent to TSMC. The arena will have a capacity of 2,500 guests in full end-stage or in-the-round configurations. The arena sits on the “dry-court side,”

After spending more than three decades in the same office building, Kitchell Corp. is in the process of relocating its headquarters as one of Phoenix’s largest private companies continues to make moves in the Valley. The Phoenix-based company didn’t have to travel far. Its new 35,537-square-foot office is on the fourth floor of Anchor Centre, a Class A office complex at 2231 E. Camelback Road, about a mile’s drive from its longtime office off Highland Avenue and State Route 51. Kitchell is

Demand is surely growing for industrial space near TSMC’s campus in north Phoenix, and developers have another infill project on tap at a site along Interstate 17. Phoenix-based Dimension Financial Realty and Investments is proposing a new three-building spec industrial park with a 62,268-square-foot building, a 152,899-square-foot building and a 237,735-square-foot building, according to planning documents submitted with the city of Phoenix. The more than 40-acre project

Nitya Capital, a Texas-based multifamily operator, has acquired Tides on McDowell, a 274-unit apartment complex in Phoenix, from Tides Equities for $41 million, or $149,635 per unit. As part of the transaction, Nitya Capital assumed $36 million in existing financing from the current lender. The property at 4620 W. McDowell Road was 90.1% occupied at the time of sale, according to CoStar data. Built in 1985 and renovated in 2018, the property spans 27 buildings with studio, one- and

Majestic Realty Co., the nation’s largest privately-held industrial real estate development company, and the Salt River Pima-Maricopa Indian Community (SRPMIC) today announced a historic partnership and 99-year ground lease agreement that will serve as the foundation of a new, best-in-class light industrial project serving the Community and the greater Phoenix metro area. Located at the northeast corner of North Pima Road and East McDonald Drive and with easy

After Cypress West Partners abandoned its plans for a 233.5KSF medical office-centric mixed-use development called The Interchange on 15.33 acres at the SWC of Interstate 17 and Rose Garden Lane, The Garrett Companies is now planning a 336-unit multifamily community on the site. The Deer Valley Village Planning Committee was scheduled to hear Rose Garden Multifamily’s associated rezoning request July 6, after this issue went to press. Garrett Companies is requesting rezoning

De Babel, a Scottsdale Middle Eastern restaurant, is opening its second location just four miles south of its original store along the Loop 101. De Babel has signed a lease at The Edge, a retail development on Salt River Pima-Maricopa Indian Community Land near 90th Street and the 101. The center is being developed by Palmer Development Group, and it is across the street from its sister development – Palmer’s The Sydney. De Babel debuted in Scottsdale five years ago, and even

One of the largest construction firms in the country is nearly doubling its Valley office footprint, with plans to move its regional headquarters into a new building next year in Phoenix’s Camelback Corridor. McCarthy Building Cos. signed a 96,252-square-foot, 11-year lease at 3133 E. Camelback Road, according to Maricopa County records, taking up nearly the entire 100,000-square-foot building. Andrew Cheney, Craig Coppola and Gregg Kafka with Coppola Cheney Group of Lee & Associates

Office tenants signed new leases for an estimated 115 million square feet during the second quarter of 2026, roughly in line with revised first-quarter numbers but still slightly below the quarterly average from 2015 to 2019. Since the middle of 2025, office leasing volume has climbed to within roughly 9% of the pre-pandemic norm for a 12-month period. Market vibrancy has made more than a full recovery, with the number of office lease transactions near the all-time high. However, the amount

For multifamily investors who have spent the past several years riding the rental roller coaster, new data from Apartment List suggests the market may finally be settling into a more predictable groove. The firm’s latest national rent report points to modest rent growth, a slight dip in vacancies and early evidence that the construction spike of recent years is starting to be absorbed. At the same time, Apartment List is clear that conditions remain “decidedly cool,” so the story is now less about

A lawsuit filed against Phoenix targeting a common tool used to develop affordable housing would “unreasonably restrict municipal property rights,” lawyers for the city said in a court filing asking the judge to dismiss the one of the counts in the lawsuit. The suit, filed by the Goldwater Institute on behalf of Bramley Paulin, a downtown Phoenix property owner, accuses Phoenix of breaking state law when it released a request for proposals for a development that was required to include

Commercial property prices are inching higher again, but Green Street’s latest numbers suggest this is a market locked in a narrow trading band rather than the start of a new cycle. With the CPPI flat in June and cap rates stubborn, Green Street’s numbers suggest the next wins will be highly sector‑specific. For investors trying to time capital deployment, the story right now is less about broad‑based momentum and more about how different sectors are quietly re‑pricing under