October 8, 2021

With the holiday selling season up ahead, The Kroger Co. is doubling down in its second nationwide hybrid hiring event.Cincinnati-based Kroger said Wednesday that it aims to hire 20,000 associates in virtual and on-site interviews across

Read The Full Article...

Apartment vacancies hit another historic low in September, declining to 2.7% for a fourth consecutive month of record-breaking lows. New lease demand in the year ending in September 2021 also increased by 50.5%, with

Read The Full Article...

Equus Capital Partners, Ltd. (“Equus”), one of the nation’s leading real estate investment managers, has acquired a 74 property, 7.3 million square foot industrial portfolio located across the Phoenix and Tucson metropolitan areas in

Read The Full Article...

While the continuing effects from the Covid-19 pandemic cause vacancies to increase in the Valley’s hottest office submarkets, industry experts still say there’s no cause for alarm. Leasing activity is percolating in both Tempe and downtown Phoenix, though for the most part space is being eaten up by smaller users taking 20,000 square feet or

Read The Full Article...

Before the coronavirus outbreak, the homebuilding industry was seeing a trend among new homebuyers looking for smaller, simpler spaces. However, the past year and a half has changed the way many people use their home, and in the process, it has changed home buying and, subsequently, the cost of new home.Fulton Homes, Arizona’s largest

Read The Full Article...

October 7, 2021

Shoppers will be making up for the spending they missed out on during the pandemic by jacking up their holiday-gift budgets about 25%, according to an estimate by real estate firm JLL that holds promise for retail property owners.“Revenge shopping, the phenomenon where consumers make up for lost time with increased spending, is expected to

Read The Full Article...

Glendale City Council is making progress on its ongoing list of proposed annexations to increase industrial development near Loop 303 and Luke Air Force Base.Another 63 acres could be annexed and rezoned for a proposed 1-million-square-foot industrial project south of Northern Avenue between Cotton Lane and Loop 303. The application for

Read The Full Article...

McShane Construction Company was selected by Stockdale Capital Partners to provide general construction services for Waterview Residential. Located in Scottsdale, Arizona, the new multi-family development will incorporate 260 units. “We’re thrilled to work on our first project for Stockdale Capital Partners,” shared

Read The Full Article...

The for-rent single family home segment continues to stretch into farther out suburbs.Steve Hensley, advisory manager for real estate research firm Zonda, said the for-rent single family developers are eyeing more “tertiary submarkets” such as the San Tan Valley, Buckeye, Casa Grande and Maricopa.Many of those projects are in the

Read The Full Article...

Renters are now the majority in 103 suburbs that were previously homeowner territory 10 years ago, and 57 other suburbs are expected to follow suit in the next five years. Many of these suburbs belong to the Miami, Washington, D.C., and Los Angeles metros, with notorious Beverly Hills, CA, among those that flipped. In addition, more

Read The Full Article...

October 6, 2021

Intel last Friday broke ground on a $20 billion expansion of its facilities in Chandler, Arizona, building two new fabrication plants, or fabs, at its Ocotillo campus. The two new chip factories – which will be known as Fab 52 and Fab 62 – will be operational within three years and will supply semiconductor chips at a time when a global shortage of

Read The Full Article...

Buckeye City Council on Tuesday evening approved the infrastructure needed for a proposed 2.7-million-square-foot industrial park and other potential projects near Interstate 10 and Loop 303.The site is located on the northwest corner of McDowell and Perryville roads on about 163 acres, according to planning documents. Dave Roderique, Buckeye’s economic

Read The Full Article...

PHOENIX – Developers who want to turn a long-empty storefront in Mesa into a large apartment complex have cleared an early hurdle.If plans progess, Stillwater Superstition will replace an old Kmart department store other retail sites near Power Road and Hampton Avenue after the Mesa City Council approved a zoning-use change

Read The Full Article...

Cadence Living, Harrison Street and Ryan Companies US, Inc. announce that construction has begun on its newest approximately $64M luxury senior living community, Acoya Shea in Scottsdale, Arizona.The 197,000 square-foot luxury senior living community, located on 2.55 acres near the intersection of Scottsdale Road and Shea

Read The Full Article...

With the Metro Phoenix residential real estate market setting new records on a daily basis, it might help prospective buyers and sellers to have an expert’s perspective on residential real estate in the Phoenix market — where it is now and a few predictions for 2022. Here are my Top 5 predictions for Phoenix residential real estate:

Read The Full Article...

October 5, 2021

After Arizona supermarket chain Bashas’ announced Oct. 1 that it would agree to an acquisition by a regional grocery company in California, the question that pops out in hindsight is: Why didn’t this happen before? As privately owned entities, both Bashas’ and Raley’s increasingly battled tough challenges in

Read The Full Article...

National job growth continued to tick upward in September, according to aggregated payroll data of approximately 350,000 clients provided by Paychex. The data released in the latest report of the Paychex | IHS Markit Small Business Employment Watch shows the Small

Read The Full Article...

The Arizona Coyotes still haven’t figured out where the team will be playing home games a year from now, but the team’s front office has fully focused on building its proposed arena in Tempe. Xavier Gutierrez, the Coyotes’ president and CEO, told the Business Journal he is exploring a number of options for an interim

Read The Full Article...

Phoenix’s multifamily market remained among the strongest in the country, driven by a diverse economy that continued to exert magnetism even in harsh times. This has led to robust population growth putting pressure on rents, which climbed 2.3 percent on a trailing three-month basis through July, to

Read The Full Article...

With all the political squabbling in Washington over infrastructure and expanding the social safety net in Biden’s Build Back Better plan, a political football has turned out to be raising the U.S. debt limit. The debt limit is the amount of money Congress allows the Treasury to borrow to keep the government

Read The Full Article...

October 4, 2021

The Boulder Group’s Third Quarter Net Lease Research Report showed cap rates in the single tenant net lease sector reaching a historic low for all three asset classes in 2021. Cap rates for retail, office and industrial fell to 5.80%, 6.80% and 6.70%, respectively.“

Read The Full Article...

Intel last Friday broke ground on a $20 billion expansion of its facilities in Chandler, Arizona, building two new fabrication plants, or fabs, at its Ocotillo campus. The two new chip factories – which will be known as Fab 52 and Fab 62 – will be

Read The Full Article...

Southeast Mesa continues to be a hot landing spot for large industrial real estate projects.National real estate and development firm CRG has closed on 268 acres in the southeast Valley and plans to build its second multimillion-dollar industrial park in the

Read The Full Article...

Everyone in Arizona, it would seem, has something to say about the Bashas.The family on Friday announced it would sell its entire supermarket business — which includes Bashas’, Food City and AJ’s Fine Foods — to California-based

Read The Full Article...

The Arizona Coyotes still haven’t figured out where the team will be playing home games a year from now, but the team’s front office has fully focused on building its proposed arena in Tempe.Xavier Gutierrez, the Coyotes’ president and

Read The Full Article...