While interstate moves might be declining nationally, Arizona continues to draw more residents than it loses to other states — ranking the state No. 4 for domestic migration. Arizona drew roughly 51,387 more newcomers than it lost to the rest of the country in 2024, a new analysis shows. At the national level, interstate migration fell to 2.1% of the U.S. population in 2024, down from 2.3% in 2023 and 2.5% in 2022 — indicating that the pandemic-era relocation
Developers are eyeing a 2,300-acre regional industrial hub. The Buckeye City Council has approved the rezoning of a 2,271-acre site, allowing for the development of Grand View Arizona, a rail-served regional industrial hub with complementary commercial, single-family and multifamily uses. Grand View Buckeye LLC and Verrado 310 LLC own the land. The two entities are linked to the Vanderwey family, according to the Phoenix Business Journal. An earlier proposal for
A development that will include a WinCo grocery store, retail and industrial buildings near Interstate 10 and Florence Boulevard in Casa Grande is moving forward, despite an initial recommendation of denial from the Planning Commission. The Casa Grande City Council unanimously voted in favor of the project at its first hearing on April 6. It will be before the council for a final approval vote April 20. The project’s developer is Arizona Land Consulting, led by
A prominent local landowner gained approval for a mixed-use project in Casa Grande after tweaking initial rezoning requests to make it clear the site would not become a major residential development or a data center. Casa Grande City Council approved a request from Arizona Land Consulting to rezone a 273-acre site at the northwest corner of Interstate 10 and Florence Boulevard from urban ranch to planned area development (PAD) during an April 6 meeting. The new zoning will
The first three months of 2026 were the most active period for office landlords since before the pandemic. Office tenants signed roughly 120M SF in new leases in the first quarter of the year, a 25% increase compared to the first quarter of 2025 and the highest quarterly total since 2018, according to a CoStar report. The surge was largely driven by a higher volume of smaller leases — a trend that emerged after the pandemic. The number of leases signed hit its highest point going back a
Broad dispersion across locations and quality segment. The average asking rent at Phoenix multifamily properties ticked up 0.1% in the month of March, extending a four-month winning streak that began in December of last year. Last month’s performance translates into a 0.4% rent gain for the opening quarter of 2026, the strongest quarterly growth in two years. Rent growth occurred unevenly last quarter, with broad variance across both submarkets and quality
The 2026 Office-to-apartment conversions report by RentCafe.com revealed that in the Phoenix metro area 1,550 units are expected from no less than 6 office-to-apartment conversion projects, ranking as the 13th biggest converter in the nation. Here are the details: Phoenix’s biggest conversion of this type is Kierland Sky, where 420 units are expected to come online once the project is completed
Phoenix continues to be an attractive city for companies looking to relocate their headquarters, according to a new report from CBRE. The report ranked Phoenix No. 4 in the U.S. for gaining the most corporate headquarters, in a three-way tie with Nashville and Tampa, with a net gain of six HQ relocations in 2025. Some major HQ moves in the Valley last year include Dutch Bros moving its headquarters from Oregon to Tempe, and signed a lease for a 136,426 square-foot space at
Location: 4235 N. 24th Street, just south of Glenrosa Avenue, near midtown Phoenix. Description: Construction of a new 36-unit apartment complex called CenTria Biltmore is underway. When complete, it’ll offer Phoenix’s renters attainable leases and help fill Arizona’s gap of much-needed middle housing, according to its developer. CenTria Living, an investment and development firm that builds boutique multifamily complexes, is behind the project, and two others
The Green Street Commercial Property Price Index increased 0.4% in March. Over the past 12 months, the all-property index has increased 2.6% but remains 15.5% below the 2022 peak, according to the Newport Beach-based research and advisory firm. “I think a lot of investors were hoping that interest rates would be lower by now, and that cap rates would be too, but it hasn’t played out that way,” said Peter Rothemund, co-head of strategic research at
Since 2015, Freddie Mac Multifamily has financed over 17,000 loans totaling over $47 billion as part of its Small Balance Loan (SBL) program. While the government-sponsored enterprise (GSE) plans to remain active in the small loan space, it is making changes so the program isn’t siloed. Freddie Mac will combine its SBL program with its conventional product in mid-April with the SBL system retiring at the end of the month for any new loans to make for a seamless transition. “We
U.S. office leasing in 2026 has exceeded pre-pandemic levels, according to preliminary first-quarter data from CoStar Group. Office tenants signed new leases for an estimated 120 million square feet in Q1 2026, the highest quarterly total since mid-2018. This represented a 25% increase year-over-year, CoStar said Thursday. It was also the first time this decade that quarterly volume exceeded its average from 2015-2019. “While the quarterly figure signifies
Arizona State University is set to celebrate a groundbreaking ceremony for the new ASU Health headquarters in downtown Phoenix on April 9. The 175,000-square-foot structure on the Phoenix BioScience Core campus at 620 N. Fifth St. will house the John Shufeldt School of Medicine and Medical Engineering, as well as the School of Technology for Public Health and programs in ASU’s Edson College of Nursing and Health Innovation and the College of Health Solutions. General contractor for the
In good news for shoppers, a bump in the cost of consumer goods reversed course in March 2026. Prices for everyday household purchases decreased 0.02% in March 2026 following a 0.19% increase in February and a 0.33% decrease in January. The monthly Numerator Consumer Goods Price Index (CGPI) also indicates that prices for everyday goods are up 2% compared to March 2025.A similar trend is expected for the comparable categories covered in
The housing market sprang forward in March, even as rising mortgage rates began to chip away at earlier affordability gains, according to the Zillow® March Market Report. Newly pending listings rose 4.6% from a year earlier to record the second-largest monthly total since the end of the pandemic boom in August 2022, a positive signal as home shopping season opens. Mortgage rates climbed from 5.98% at the end of February to 6.38% in late March, according to
Expectations for Federal Reserve rate cuts have shifted sharply after a ceasefire between the United States and Iran eased fears of a more severe energy-driven inflation spike, prompting markets to re-evaluate the monetary policy outlook. The agreement follows a period of escalating conflict that began Feb. 28 and had raised concerns about disruptions to global oil supply. While details of the ceasefire remain limited and its durability remains uncertain, markets have
Phoenix City Council has approved measures to clear the way for a new 260-room hotel to be built in north Phoenix near the Mayo Clinic. During its April 8 meeting, Council approved rezoning and changes to existing plans that will allow for a hotel to be built on the southeast corner of 64th Street and Mayo Boulevard. Council also approved measures to allow for more density on adjacent land, which could be turned into apartments, condos or attached
A vacant, 80-acre site that was the longtime home of a shopping mall in Mesa, Arizona, is set to transform into a mixed-use redevelopment that could boost the state’s soccer standing. Scottsdale-based Sunny Day Sports is leading the direction and investment efforts for the planned Palo District — the project name for the reimagined Fiesta Mall site at 1445 W. Southern Ave. Sunny Day Sports plans to transform the site into a 25,000-seat soccer stadium, hotels, retail,
The Mangat Group sees potential in the Phoenix metro area for small bay industrial, announcing it will spend $250 million across four developments it is planning in the area in the sector. Nationwide, construction is concentrated on warehouses that span more than 100,000 square feet, which leaves a scarce supply on the market for smaller companies, according to a release from Mangat. Plus, the demographics in Phoenix are favorable for
Monster today released its Q1 2026 Monster Market Report, offering new insights into where employers are hiring, which roles job seekers are pursuing, and how hiring patterns are shifting across industries and cities. The report also identifies Scottsdale among the cities with the strongest jobs growth. The report analyzes top job titles posted by employers, the most searched job titles by candidates, hiring trends across major occupational groups, and the fastest-growing
Phoenix’s industrial real estate market entered 2026 with strong momentum, fueled by innovation-driven economic growth, major semiconductor investment and steady demand from logistics and advanced manufacturing companies, according to a report from Kidder Mathews. While construction activity has slowed, leasing activity and absorption levels suggest the Valley’s industrial sector remains one of the most dynamic in the nation. During the first
The West Valley city of Buckeye has rezoned a nearly 2,000-acre chunk of land, setting it up for a major industrial employment corridor. Buckeye City Council unanimously approved items related to the Grand View Buckeye development during an April 7 meeting, starting with a request to annex most of the site – about 1,918 acres – into the city’s jurisdiction and out of Maricopa County’s. Councilmembers then approved rezoning the entire 2,271-acre site to Community
Turf Paradise is under new ownership, and in a few years it’ll likely have a new location as well. Why it matters: Moving Turf Paradise would bring the end of a long era for that region of north Phoenix, which has been home to the racetrack for generations. State of play: Former owner Jerry Simms sold the historic horse track last year, and its 70th season began under new management in November. But Simms still owns the land near 19th Avenue and Bell Road in north Phoenix
The Sun Belt apartment boom has cooled, but Mid‑America Apartment Communities isn’t backing away from the region. Instead, the country’s largest Sun Belt landlord is changing its playbook as rent growth slows and competition for tenants intensifies. Mid-America is signaling that the current slowdown is changing how landlords compete for tenants, rather than a pullback from the regions where multifamily companies invest. The
Much of the discussion regarding changes to bank reserve requirements proposed by the Federal Reserve has surrounded the impact on the conventional mortgage market. Wholesale mortgage brokers have discussed the possibilities of banks getting back into the channel, although how it is done would need to be closely monitored. But this could also have a major impact on the commercial lending space. If banks get more heavily involved on the commercial side, it could