More than two decades ago when she was working as economic development director for the city of Chandler, the chances for a Valley city to land a corporate headquarters relocation were pretty slim. But these days, politicians and economic development experts alike have started referring to an emerging HQ hotspot – the growing northeast Phoenix area near Loop 101 – as “Headquarters Alley,” where Discount Tire, Republic Services and now Sprouts Farmers Market are
The city of Scottsdale has spent $7.8 million for an office building that it plans to turn into a parking lot for Scottsdale Airport. The property, located at 15011 N. 75th St. in Scottsdale Airpark, was sold by Access Capital LLC. The entity purchased the property for roughly $8.4 million in April 2025, according to Maricopa County records. Scottsdale City Council approved plans in April for the city to purchase the 1.49-acre property, which is home to a 21,664-square-foot office building. That
Office demand climbed to its highest level since before the pandemic in the first quarter, even as the workforce that typically drives it continued to shrink, revealing a growing disconnect between hiring trends and how companies are using space. The VTS Office Demand Index rose 18% quarter over quarter and 13% year over year, marking its strongest reading of the post-pandemic era, as leasing activity was fueled not only by the tech sector’s ongoing AI expansion but also
A 100-acre development in south Phoenix that will include shopping, restaurants and residential development will be anchored by a wholesale grocery store. According to documents submitted to Phoenix, discount bulk grocery store WinCo Foods has signed a purchase agreement to buy some of the land at 19th Avenue and Baseline Road to build a roughly 84,000-square-foot store. The site, which is one of the last large remaining pieces of land along Baseline Road in south Phoenix
Recent years have brought repeated turbulence for the nation’s industrial real estate sector. To start the decade, the pandemic constricted global supply chains. The introduction of tariffs at the start of last year once again scrambled that picture. More recently, the war with Iran has driven fuel prices higher, creating another drag on the traditional means of moving goods into U.S. warehouses and factories. Those three major disruptions — combined with others less ingrained in the nation’s
As SkySong, The ASU Scottsdale Innovation Center marks its 20th anniversary, the transformation of Scottsdale’s McDowell Road Corridor stands as one of the clearest and most compelling examples of its long-term impact — turning a once-declining stretch of underutilized land into a vibrant center for innovation, housing and economic growth. When SkySong was first envisioned in the mid-2000s, the corridor was defined by a shuttered mall and aging auto-oriented development. Today, it
After an hour-and-a-half-long bidding war, a winner finally emerged during an Arizona State Land Department auction on April 30. Desert Ridge 293 LLC placed the winning bid of $180 million. That LLC was incorporated on April 8 in Delaware — a state notorious for helping safeguard the identities of entities registered there. The representative holding the winning paddle was Lori Anderson with Exp Realty. The 293.5-acre site, which is located at Deer Valley Drive and
Location: 91st and Glendale avenues in Glendale. Description: A 301-unit apartment complex is in the works near the popular Westgate area. Zanjero III Apartments is planned to offer a “luxury residential rental community” on 8.32 acres in the West Valley. Site renderings show the complexes will have four levels. The location is in proximity to restaurants the Tanger Outlets shopping center and entertainment venues. History: The project has been in the works for a few
A Los Angeles entity tracing to MetLife Investment Management plopped down $45.85 million in cash for a 140-unit West Valley build-to-rent property built in 2023. MetLife bought Grandstone at Sunrise Villas from Thompson Thrift for $327,500 a unit, according to Tempe-based real estate database Vizzda LLC. Thompson Thrift Residential built the rental community on 9.85 acres in 2023 at 24701 N. Lake Pleasant Parkway in Peoria. It is part of Sunrise Promenade, a
The Federal Reserve’s decision to hold interest rates steady may have landed as expected, but the unusual level of dissent exposed a central bank increasingly divided over what comes next and that uncertainty is beginning to matter for commercial real estate. The result keeps the benchmark rate in the 3.50% to 3.75% range, a move widely anticipated by markets. But the decision was marked by a rare split: for the first time since 1992, four officials dissented. One of those votes
In Dec., TBBG Investments announced the groundbreaking of a 132-unit build-to-rent townhome community at 35th Avenue and Southern Avenue in South Phoenix, in partnership with Titan Development. TBBG acquired the 7.8-acre site for approximately $3.8 million more than two years ago with Titan, strategically positioning the project to deliver into a tightening supply environment. The community will feature two-story townhomes with attached garages and private
Institutional capital is pouring into small-bay industrial, but the real edge is shifting away from buying power toward operational discipline and deal access. The sector, which accounts for more than half of US industrial inventory yet receives less than a quarter of new development, has become increasingly competitive as investors chase a limited pool of assets. That imbalance is pushing pricing higher and compressing margins, forcing buyers to rethink how they generate
An ice cream chain known for its boozy dessert offerings is growing its brand at brick-and-mortar locations across the United States. Tipsy Scoop, a company whose flagship bar-ice cream parlour, or barlour, is in New York City, is set to open a location next month at 119 S 18th St. in Philadelphia’s Rittenhouse Square neighborhood and this summer at 506 N. Bishop Ave. in Dallas. For its “City of Brotherly Love” location, Tipsy Scoop is taking about 300 square feet — the
After paying $123.6 million for a 412-unit Glendale apartment community in July 2021, real estate giant Blackstone has sold it for $101.35 million — about 18% less than what the real estate giant paid for it. Closing on April 23, Blackstone, in care of Chicago-based LivCor, sold Arrowhead Summit to an entity tracing to Santa, Barbara, California-based NALS Apartment Homes, according to Tempe-based Vizzda LLC real estate database. Asher Gunter, Matt Peach and Austin Groen of CBRE
A 250,000-square-foot, nearly $190 million multi‑sport 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. Pandey said the hotel, which he called a Hilton, will open within two months. A Hilton spokesperson said, however, “Hilton is committed to
Industrial activity remained incredibly resilient in the Phoenix metro in the first quarter of this year. In fact, industrial investment was the strongest on record, with $990.8 million in total sales volume, up 24% year-over-year, according to a Q1 report from Colliers. Some major deals included Prologis acquiring Cotton 303 Logistics Center in Glendale for $104 million on March 20. What’s more, EQT Real Estate acquired Commerce@303, a 663,367 square-foot industrial building also
PV is getting more places to eat, stay healthy and have fun as the redevelopment of the former Paradise Valley Mall site continues. Why it matters: The bulldozed mall near Cactus Road and Tatum Boulevard is giving way to a massive, mixed-used development that will transform that area of north Phoenix. What they’re saying: “By this time next year, this will be a dramatically different place,” Jeff Moloznik, senior vice president at RED Development, told Axios. The latest: RED, which is
Ground broke on the Taiwan Semiconductor Manufacturing Co. (TSMC) fab in north Phoenix in 2021 with the kind of ceremony that American manufacturing policy had not seen in a generation. Hard hats and ribbon-cutting and the word “historic” deployed without irony. The narrative was clean: the U.S. was taking back the commanding heights of semiconductor production from Asia, and Arizona was where it would happen. That narrative is incomplete. I lived in Taiwan in 1987
Empire Group of Companies, through its luxury urban infill division Aspirant Development, today announced the official rebranding of its highly anticipated Downtown Phoenix high-rise project from its working name, Astra, to Arro – a landmark mixed-use development poised to become the tallest building in Arizona upon completion. Spanning approximately 1.8 million square feet, Arro will introduce a new level of scale and sophistication to Downtown Phoenix, anchored by a
The Phoenix metro area, which already boasts a robust hotel pipeline, is expected to experience continued growth in this sector through 2026, hospitality development executives said at Bisnow’s Phoenix Hotels, Resorts and Wellness Summit. “This year alone, the hotel industry is going to generate $1.1B in tax revenue” for the metro area, Haleigh Hildebrand, American Hotel and Lodging Association vice president of public affairs, said at the event held at the Hilton Scottsdale Resort & Villas in
Taiwan Semiconductor Manufacturing Co. is planning to open its first advanced packaging facility at its north Phoenix site by 2029, according to a recent Reuters report. During a conference held Wednesday in Santa Clara, California, TSMC executives said the company has started initial work on its fourth Phoenix chip factory and broke ground on an advanced packaging facility as part of its plans to expand manufacturing capacity in Arizona, Reuters reported. “We are going to build a
Colorado-based developer has completed renovations at a century-old building in the downtown Phoenix warehouse district as it gears up to develop an adjacent high-rise project. One West Madison, previously called the Pratt-Gilbert building, was constructed in 1913 and was previously used by Maricopa County for courts. When developer Aardex bought it, the building still had a holding cell in the basement, said Caleb Hebel, principal at Aardex. The company has been restoring the building
A new ranking of America’s Fastest-Growing Suburbs and the salaries needed to afford them shows that Arizona’s desert boomtowns are turning into some of the country’s most sought‑after addresses—where rapid in‑migration is bumping up against rising home values and bigger income needs. MoneyLion analyzed U.S. Census data alongside average home values from Zillow and cost-of-living estimates from national expenditure and mortgage data to calculate what residents need to