Investors flocked to the single-tenant net lease space en masse in the third quarter, with the sector registering record deal flow despite mounting economic headwinds. Sales activity for net-leased retail rose between 24% to 27% across
Multifamily owners have carefully been watching rent growth numbers for three main reasons. One is getting a sense of profits and return. Next, monitoring financing, because if a deal was recent and based on cheap money and high leverage, chances are
One cannot pick up a newspaper without seeing an article covering the severe housing shortage that currently plagues the nation. Arizona is not immune, having recently been identified as placing seventh nationally in a study related to a lack of housing.
Lennar Corp., one of the nation’s largest homebuilders, has lowered home prices and boosted incentives in most of its markets nationwide — including the Phoenix metro — in response to higher interest rates. With the Federal Reserve
A 247-unit senior living facility with 9,900 square feet of commercial space on 3.59 acres near the intersection of Scottsdale and Osborne roads will become a reality. The Scottsdale City Council on Sept. 13 voted 7-0 to approve the
JW Marriott Phoenix Desert Ridge Resort & Spa announced an $80 million transformation as it celebrates its 20th anniversary this year. Showcasing a fresh, modern design inspired by the surrounding destination, the expansive property, set across 316 acres of sweeping
Real estate firm Harbor Group International bought its fifth and sixth apartment complexes in greater Phoenix in the latest sign that investor demand is still strong for multifamily properties in the Grand Canyon State. Harbor Group International of Norfolk, Virginia, paid
As widely anticipated, the Federal Reserve on Wednesday afternoon again lifted the federal funds target by 75 basis points. The announcement of the rate hike is intended to both trim demand and reduce inflation over the coming months. Reaction to the
Contour,a California real estate development company, has started construction on a 1.5 million-square-foot industrial park in Mesa. The group recently closed on a $99 million loan with Pacific Western Bank for Sossaman Park 202, which was arranged by
As the advantages continue to erode for U.S. manufacturers operating in low-cost countries, interest in reshoring and near-shoring continues to climb. This is especially true in the age of COVID-19, with the pandemic’s near-crippling impacts on supply chains, including
For the third time in as many meetings, the Federal Reserve’s policy-setting committee raised its target lending rate by three-quarters of a percentage point, the latest step in its aggressive campaign to battle decades-high inflation. The unanimous decision on
A development application that called for more than 500 luxury apartment units and more than 14,000 square feet of ground floor commercial space was approved by Scottsdale City Council. The council gave unanimous approval for a site plan, landscaping and
Shamrock Foods Company, a 100-year-old, multi-billion-dollar, family-owned Phoenix-based company, has acquired 81 acres from Crown West Residential Group at The Crossroads at Gladden. The planned distribution center will serve southern Arizona markets.
Contour, a leading privately-held real estate and development company, announced yesterday the start of Phase I construction of Sossaman Park 202, a 1.55-million square foot industrial park in Mesa, Arizona. The announcement comes just days after Contour closed on
Belgravia Group, Chicago’s award-winning real estate developer with more than 70 years of luxury developments constructed under its brand, announced that its first-ever Phoenix metro community development, Portico, located in North Scottsdale, is more than
Dreamscape Companies, a New York-based real estate and investment firm, today announces its first foray into Arizona’s red-hot Phoenix market with the acquisition of the Residence Inn Phoenix Desert View at Mayo Clinic, an extended-stay hotel. With the Mayo Clinic preparing to
Thompson Thrift Commercial plans to increase its holdings in Arizona with a 300-unit apartment and retail development in Phoenix’s Gilbert suburb. The company, based in Indianapolis, plans to break ground in the first half of next year on the project — representing a
Another large industrial park is being proposed for the fast-growing Loop 303 corridor in Glendale adjacent to a facility that will house global sportswear company Puma. The new 4.4 million-square-foot campus will be called Parkway 303 East and be developed on the
The Phoenix metro is struggling to keep up with data center demand as it tops the nation in construction and leasing, according to real estate experts. The Valley had 280 megawatts of absorption, which is how much new power was occupied minus what became
The rhythm of migration out of coastal areas with high housing costs into less expensive Sun Belt cities accelerated during the pandemic. Skyrocketing demand for apartments in markets such as Austin, Texas; Phoenix, Arizona; and Tampa, Florida, pushed rent
The Phoenix metro’s median rent has increased by 45.6% in the past year, ranking the Valley at No. 38 in a list of the most expensive cities in the U.S., according to a recent nationwide rent report. But it was another Arizona city that saw the highest rate of
There’s never been a better time to deploy capital into the multifamily asset class, according to one industry veteran, who says now is the “golden age” of multifamily investment. “We are truly in an incredible time,” says Louis Rogers, founder and chief executive of
Mr. Pickles, the sandwich chain that moved its headquarters from Northern California to Scottsdale earlier this year, recently signed a deal to grow the company’s footprint even more. The company, which already has 56 locations open, plus six set to
Too many important key metrics are signaling positively for the US economy and “we’re not even close” to being in a recession right now,” Mark Zandi, chief economist, Moody’s, shared during National Multifamily Housing Council’s 2022 Fall Meeting in Washington,