DAILY TOP 5

Office and industrial projects are moving forward in Tempe as one company invests millions in its new office space and another works toward adding more industrial space to the market. Waymo LLC is investing more than $4 million in tenant improvements into its recently opened Tempe office as the company continues to expand in the Phoenix metro, according to building permits filed with the city of Tempe. The subsidiary of Alphabet Inc (Nasdaq: GOOGL). signed a

The Metro Phoenix office market is showing fresh signs of resilience as tenants continue returning to premium office space, vacancy declines and developers largely remain on the sidelines, according to Newmark‘s 2Q 2026 Phoenix Office Market Overview. The report paints the picture of a market gradually finding its footing, with Class A and trophy properties outperforming older inventory while office conversions and limited new construction continue tightening supply. The Valley recorded

Commercial real estate lenders are keeping credit lines open even as Treasury yields lurch higher, a combination that is helping to support sales activity and keep borrowing costs in check for many borrowers, according to Cushman & Wakefield Senior Economist Adrian Ponsen and Federal Reserve data. The core dynamic is that banks and other lenders are still growing their CRE portfolios fast enough to offset rate volatility, leaving spreads “borrower friendly” even as the broader rate

Building out instead of building up is quietly reshaping the multifamily landscape, and it is happening even as new supply pulls back from 2024’s breakneck pace. According to a new analysis by Chandan Economics for Arbor Realty Trust, the post‑boom pipeline is tilting toward larger, low‑rise communities that lean into renter preferences and cost realities rather than skyline‑altering towers. For investors, that shift in what gets built and where is likely to influence which assets will prove

The city of Phoenix is firming up land use policies and identifying key sites within a chunk of land covering 4,000 acres along the Salt River where it’s aiming to attract new investment and development. The ultimate vision for the once primarily industrial area south of Interstate 17 is to build a more walkable and vibrant mixed-use community while preserving the natural habitat. A general plan amendment is working through the city’s planning process that would formally establish the

Seafood City, North America’s largest Filipino Asian supermarket, is opening its first location in Arizona soon. The massive 66,000-square-foot grocery store in Chandler will open on Thursday, July 30, at 9 a.m., officials confirmed to The Arizona Republic. It will feature a curated assortment of items from across the Philippines, Japan, Korea, China, Thailand, Vietnam and beyond, making Seafood City one of Arizona’s “most diverse market destinations.” “For more than three decades, Seafood City

Institutional capital is pouring into affordable housing tax credits, but a shrinking pool of investors is now setting the terms — driving up yields, pushing down price per credit and leaving more deals scrambling to fill widening equity gaps, according to The Richman Group’s Richard Richman, who spoke with GlobeSt.com about the shifting investor base and its impact on new construction. Affordable Housing Investors’ Profile Shifting: The Richman Group recently closed $535 million

ViaWest Group, a Phoenix-based real estate investment, development, and property management firm, today announced the acquisition of Ahwatukee Golf Club, an 18-hole daily fee golf course located in the heart of the Ahwatukee Foothills community. The off-market acquisition represents ViaWest’s first investment in the golf and recreation sector, reflecting the firm’s continued evolution into experiential real estate while remaining committed to creating places that strengthen the

Honeywell Aerospace signed a 29,000-square-foot office lease in Tempe to support the company’s growth across the Valley. In mid-June, the aerospace and defense technology firm moved 100 employees into the Fountainhead Office Plaza at 1625 W. Fountainhead Parkway off Interstate 10, a company spokesperson confirmed with the Business Journal. The new office lease follows the company’s recent spinoff of its aerospace, automation and advanced materials businesses into

Phoenix Mayor Kate Gallego said Friday that the Taiwan Semiconductor Manufacturing Company’s total investment in Arizona is historic on both the local and national levels. When TSMC unveiled plans to build a microchip manufacturing facility in Phoenix in 2020, the company committed $12 billion to the project. “And at that time, we were so excited about $12 billion, which would have been by far the largest investment in our city’s history,” Gallego told KTAR News 92.3 FM’s

On top of its previously pledged investment of $165B in expanding its Arizona operations, officials with Taiwan Semiconductor Manufacturing Company announced this week the company will invest another $100B. The announcement was made during TSMC’s earnings call. The Trump administration has put increasing pressure on foreign semiconductor manufacturers to increase their production within the United States. TSMC has expanded significantly in north Phoenix since breaking

Boeing Co. is proposing an expansion of its Mesa manufacturing campus that could create hundreds of new jobs and boost production of advanced composite components for U.S. military aircraft. The Arlington, Virginia-based aerospace giant plans to build a nearly 268,000-square-foot fabrication center on a 38-acre industrial site near the northeast corner of Greenfield and McDowell roads, according to documents filed with the city of Mesa. Boeing’s proposed fabrication center will

About $1.1 billion worth of Phoenix industrial properties traded hands in the second quarter of 2026. That amount marks the eighth-consecutive quarter with more than $1 billion in sales and ranks the Valley number six in the country for sales volume. The Phoenix industrial market has witnessed unprecedented growth over the past five years, driven by local economic growth, relative affordability and the area’s renewed importance in national supply chains. These factors and the

Four Valley communities were ranked in the top 10 best cities in the United States for first-time homebuyers, according to a study released Tuesday. WalletHub’s “Best & Worst Cities for First-Time Homebuyers (2026)” rated 300 varying-sized cities using three key aspects: affordability, real-estate market and quality of life. Surprise ranked the highest of the four communities, coming in second place. It was immediately followed by Gilbert in third, then Peoria in sixth and Chandler in

The Taiwan Semiconductor Manufacturing Company plans to pour another $100 billion into its TSMC Arizona operations in Phoenix, the microchip industry giant revealed during an overnight earnings report. Phoenix Mayor Kate Gallego celebrated the announcement, calling it “incredible news.” “TSMC will invest an additional $100 billion right here in Phoenix, bringing its total investment to $265 billion. It’s the largest deal in U.S. history and cements our city as the heart of America’s

Saddleback, the $1 billion, 5,300-acre master-planned community under development in Peoria, has unveiled its debut collection of model homes by premier homebuilders Taylor Morrison and Lennar, marking a major milestone ahead of the community’s first resident move-ins this summer. Developed by Austin-based Castle Hill Partners, Saddleback is designed to blend seamlessly with the surrounding Sonoran Desert while offering a wellness-forward lifestyle centered on outdoor

The Mesa Design Review Board will meet Tuesday, July 14 to consider a nearly 268KSF proposed expansion to an existing Boeing manufacturing facility on the east side of Greenfield Road north of McDowell Road. The proposed building totals 267,761SF and has a planned height of 60 feet, according to materials prepared for the Board. The one-story building is proposed as a Boeing Fabrication Center, adjacent to an existing Boeing Fabrication Center totaling 158.5KSF, and will be

In the West Valley, housing projects came long before the restaurants, nightlife or cultural amenities. Instead, residents drove to the East Valley or downtown Phoenix for concerts, restaurants or nights out. But the West Valley is not merely lagging behind — it is modeling how large suburban neighborhoods can shape a local, ambitious entertainment landscape. Population growth, rising incomes and much-anticipated infrastructure are intersecting with a rush of private investment. As a result, the

Seven Arizona cities are being called “boomtowns,” cities that showing great economic growth and promise, by a new study. A new study by SmartAsset has ranked America’s cities based on their recent influx in population and economic growth. Out of 400 U.S. cities with populations of more than 65,000, seven Arizona communities were placed in the top 50 boomtowns showing rapid growth. This isn’t the first time these Arizona communities have been reported as showing fast

A new 99-year ground lease agreement will bring a massive light industrial project to Phoenix’s Salt River community. Industrial developer Majestic Realty Co. announced last week that it has partnered with the Salt River Pima-Maricopa Indian Community and certain allotted landowners on the 59-acre project, which will feature up to eight Class-A industrial buildings spanning about 1M SF. Financial terms of the deal have not been disclosed. The lease agreement is a boost for tribal

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,”

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

Scottsdale-based DMB Associates Inc. sold 308 lots at its Verrado master-planned community in Buckeye for $44.5 million. The deal is Arizona’s largest lot transaction of 2026. Kennedy Lewis Investment Management, land banker for California-based Tri Pointe Homes, bought the 308 platted and engineered lots and 61 tracts on behalf of the homebuilder, according to Tempe-based Vizzda LLC real estate database. This transaction represents the largest lot sale so far in 2026

Seven Arizona cities are being called “boomtowns,” cities that showing great economic growth and promise, by a new study. A new study by SmartAsset has ranked America’s cities based on their recent influx in population and economic growth. Out of 400 U.S. cities with populations of more than 65,000, seven Arizona communities were placed in the top 50 boomtowns showing rapid growth. This isn’t the first time these Arizona communities have been reported as showing fast