A notable downtown Phoenix high-rise found a buyer just before the new year. Foundation 333 LLC — an entity led by Izhak Ben Shabat and Kenneth Losch — acquired the office portion of downtown Phoenix’s 333 North Central building from Peakstone Realty Trust on Dec. 30, according to Maricopa County records. The 26-story high-rise, built in 2010 at 333 N. Central Ave., had been the longtime home of Freeport-McMoRan until the mining giant began
As long as I’ve lived in Phoenix, it’s been growing. Not just growing. People use words like “explosive growth” to describe the rapid expansion of buildings, communities and whatever else you can build. And I’ve lived here for more than 35 years. I’m beginning to think it may not change anytime soon. Truly, the Valley is the real-life example, and a slight corruption, of the line in “Field of Dreams” ― if you build it, they will come. And keep coming
Brad Wright, president of Kovach, has never been busier, and it’s easy to understand why. As a leading designer, manufacturer and installer of commercial building enclosures, Kovach is spearheading numerous projects across the Valley, including Taiwan Semiconductor Manufacturing Company (TSMC). Kovach’s projects — including TSMC, Intel, the Phoenix Mercury Training Facility and Center for Advanced Molecular and Immunological Therapies (CAMI) in
Throughout most of 2025, economic conditions felt like operating through fog and low visibility; market signals were present, but rarely sharp. Companies, investors and households navigated with restraint as hiring slowed, financing tightened and global negotiations dragged on. Strength appeared in some pockets, uncertainty in others. Now, that mist is beginning to clear. Early indications point to five considerations that could shape how leaders plan and position themselves for 2026: 1. Trade rules could redefine
After a somewhat slower start to the year, the U.S. hotel industry saw several high-priced deals close in the last half of 2025, many of which were in or near the final months. Many potential buyers this year were waiting for further clarity after a great deal of economic uncertainty clouded what had been an optimistic start in January. See the slideshow below highlighting some of the biggest individual hotel deals in the U.S. in 2025 followed by a list of other big and noteworthy deals. Noteworthy U.S. hotel deals JW Marriott Phoenix Desert Ridge Resort & Spa
Commercial real estate is entering what Trepp’s research team has called a “sorting year,” one in which lenders are still open for business but increasingly selective about who gets to participate in any upside. The dividing line is no longer simply property type or market; it is a battery of underwriting tests that determine whether…Read More→
The National Multifamily Housing Council’s (NMHC’s) quarterly survey of leading construction and development firms in December finds apartment starts remaining relatively stable compared with three months ago. According to the survey, conducted between Dec. 4 and 15, 43% of respondents reported starts to be relatively unchanged, while 25% said their firms started fewer projects and 26% started a greater number of projects. Respondents also reported an easing of delays. For those with projects already started
Traditional apparel chains were outpaced by two sectors on opposite ends of the cost spectrum when it came to store visits this year. Foot traffic at thrift stores and luxury chains increased compared to traditional apparel this year, with thrift stores especially seeing large jumps in foot traffic. Outside of February, visits to thrift stores were up more than 5% compared to last year in each month from January to November. With the exception of a few months, luxury visits hovered near or above 2024 levels for most of 2025
Identifying new investment trends, dispelling industry myths, uncovering wrongdoing and exposing bad actors — these are a few of our favorite things. Bisnow’s editors went back through the year and found the stories that really made us think or made us laugh, the ones that we know reporters poured their blood, sweat and tears into making really, really good. They don’t always make it to the top of our traffic charts, but these are some of Bisnow’s most interesting and impactful stories of 2025
Each year, PTK magazine — a publication of AZ Big Media — showcases the top people and projects to know in Arizona’s commercial real estate sector. Pulling from a competitive pool of nominations and the editorial board’s knowledge of the industry, this annual edition highlights 50 meaningful projects across all product types and influential professionals in 23 different categories. The digital sponsor of PTK magazine is Quarles. Over the coming days, meet the individuals and projects making an outsized impact
Maricopa County Supervisor Thomas Galvin announced a new team of local and state leaders who will try to bring an NHL team back to Arizona. In September, Galvin announced the creation of an advisory panel that will be charged with formulating a plan to identify potential ownership groups, stadium locations and other details key to returning professional hockey to the Valley after Arizona Coyotes owner Alex Meruelo sold the team to a Utah group last year. Galvin already tapped Andrea Doan, wife of longtime Arizona
Discount grocery chain Aldi acquired land in Mesa earlier this month where it plans to build another store in Phoenix’s East Valley. The German grocer, whose U.S. headquarters is located in Illinois, opened its first store in Arizona in 2020 and now has more than a dozen with several more in the works. In mid-December, Aldi acquired three acres on the southeast corner of Power and Elliot roads, right on the border of Mesa and Gilbert for $2.4 million, according to real estate database Vizzda LLC. The land was sold
Life Time, the national athletic country club company, sold one of its Valley locations in December as part of its national sale-leaseback strategy. On Dec. 22, Minnesota-based Life Time Group Holdings Inc. (NYSE: LTH) sold its 108,932-square-foot club in Tempe for $26 million, according to real estate database Vizzda. The property, which is located at 1616 W. Ruby Drive and was built in 2002, was acquired by North Haven Net REIT. As part of the deal, Life Time signed a lease that allows it to operate in the space through
Economic and housing opportunities, as well as entertainment attractions, are sprawling across the northwest Valley. Cities like Glendale and Surprise are working to keep up with the growth and meet the needs of residents through constructing new builds and revamping old ones. Many of the projects have been in development for years, such as the long-awaited VAI Resort, which continues to be developed. One year ago, it had targeted a late 2025 opening. Here are some of the most anticipated and significant
The world’s first Atari Hotel will be built in downtown Phoenix, Atari Hotels and Intersection Development announced earlier this month. Described by developers as the “first truly playable hotel,” the nearly 90,000-square-foot building near Central and Roosevelt Street will include concert and esports venues and a sportsbook, as well as retail and restaurant space. “Our goal was to fuse architecture with interaction. … A tower defined by motion, responsive surfaces, and a frame that glows with its own
Innovative Arizona companies to watch in 2026 include health‑tech pioneer Solera Health, data‑sharing leader Datavant, climate‑tech firm Persefoni, prop‑tech disruptor Lessen and CX maestro Nextiva — all redefining healthcare, sustainability, real estate operations and customer experiences in Arizona’s booming innovation economy. Here are 15 of the most innovative Arizona companies to watch in 2026 Accuracy CPA: Accuracy CPA delivers personal, strategic accounting — empowering clients, especially
Through market volatility, changing policy and economic pressure that affected businesses and individuals alike, the biggest lesson from 2025 was the importance of building economic resilience. While given industries were affected differently by — or found opportunity in — these economic factors, a resounding agent of change across the economy was the adoption of artificial intelligence (AI). Looking back at top themes and financial trends from this year can help business owners filter emerging trends and shed
The new 2026 CMBS and commercial real estate CLOs outlook from Moody’s Ratings might strike some as more upbeat than expected. The document suggests that despite delinquencies remaining high, a combination of continued economic growth and falling short-term interest rates—in some global regions—“will support borrowers’ ability to refinance their commercial real estate loans in 2026, leading securitization performance to improve in the U.S. and Europe.” “We expect leverage to rise next year, exposing large loan
There are already so many great places to eat in Phoenix, but that doesn’t mean there isn’t room for new restaurants to add to the Valley’s roster. Fueled by the Maricopa County’s growing population, several new retail and mixed-use developments that need tenants, and Valley diners’ growing tastes, Phoenix appears to be one of the country’s most desirable markets for local and out-of-state chefs and restaurateurs to expand and open new concepts in 2026. Over the next 12 months, plenty of new restaurants are
There are a number of questions facing Arizona lawmakers and the governor as they think about a budget for the fiscal year that starts in July. Among them: the impact of changes to some social safety net programs, including SNAP and whether to incorporate federal changes — like no taxes on tips — into state law. All of that would impact the amount of money the state has to spend — and on what. There are also questions about Arizona’s economy overall as we enter the new year. George Hammond, a research professor
A new ranking of America’s fastest-growing affordable suburbs is giving a better idea of just how influential the Phoenix Metro is on the national stage. Four Metro Phoenix suburbs — Maricopa (#9), Buckeye (#15), San Tan Valley (#16), and Goodyear (#26) — rank among the fastest-growing and most affordable suburbs with home values under $500,000. Using data from Zillow and the U.S. Census Bureau, the study highlights suburbs with strong population growth and home values under $500,000. States like
Physical stores continued to dominate spending during the first seven weeks of the holiday shopping period. Holiday retail spending increased 4.2% year over year across all payment types, including cash and check, according to preliminary data released by Visa. The data, which excludes sales from auto dealerships, gas stations and restaurants, is not adjusted for inflation. The report, from Visa Consulting & Analytics, tracked retail sales activity over a seven-week period beginning Nov. 1, using a subset of
Economic improvement in the United States will continue in 2026, say the nation’s purchasing and supply management executives in the December 2025 ISM Supply Chain Planning Forecast, formerly known as the Semiannual Economic Forecast. Revenues are expected to increase in 16 of 18 manufacturing industries and 16 of 18 services-sector industries. Capital expenditures are expected to increase by 3 percent in the manufacturing sector (after a 3.5-percent increase in 2025) and
Some of the biggest projects around Phoenix made major strides in 2025. Those developments are sure to capitalize on this past year’s advancements by making more important leaps in 2026. From the city’s burgeoning Loop 101 corridor in the north to its most southern reaches, Phoenix is seeing significant growth that will deliver much more needed housing. It will also offer additional retail and corporate office space for more commercial and economic activity. Here are the developments that are continuing
Affordability issues are increasingly front and center, with politicians including New York’s mayor-elect, Zohran Mamdani, and President Donald Trump offering possible solutions.Photo: MarketWatch photo illustration/iStockphoto, Getty Images. Decades of flat wages for lower- and middle-income Americans followed by years of quickly rising costs have brought the nation’s affordability crisis to a head. Consumers are no longer dealing with isolated instances of higher