Commercial property prices continued to rise in November, with the RCA CPPI National All-Property Index increasing 1.6% from a year earlier, MSCI Real Assets said Thursday. However, price growth has been stalling in recent months, with apartment pricing retreating in November, and the annualized pace of growth from October suggested a gain of 0.1% overall. With the exception of multifamily, the major property types saw annual pricing gains in November. For office, suburban assets experienced a 2.7% increase
Numbers were up for single-family home sales in October, according to the latest year-to-date data from Phoenix REALTORS®. Phoenix once again outpaced the national housing market in several different categories. “Year-to-date closed sales, pending sales, new listings and median sales price all increased,” said Christy Walker, board president of Phoenix REALTORS. “These data are indicators of the strength in the Phoenix market.” The October data show Greater Phoenix with a 3.8% increase in closed sales compared
The future of the former Fiesta Mall site is starting to come into focus. The group developing the site announced Dec. 17 that a women’s health campus will anchor the first phase of a new development at the site. The developers of the project said the first phase would include centers that focus on women’s sports needs, aging and longevity, menopause, hormone replacement therapy, behavioral health, outpatient clinics and speciality care. Until recently, the land was dubbed Fiesta Redefined — a proposed mixed-use development that was set to
Chandler Fashion Center is positioned to become the East Valley’s premier dining destination with a project that elevates the center’s culinary and retail mix inside and out. Today Macerich (NYSE: MAC) – one of the nation’s leading owners, operators and developers of one-of-a-kind retail and mixed-use properties in top markets — announced that the center is launching a redevelopment initiative to reinvigorate the dining and entertainment district near the Harkins Theatres on the south side of the property. “Chandler Fashion Center has a long history as a vibrant
Queen Creek may not be the first name that comes to mind when people think of Arizona, but its booming growth has started to attract national attention. The suburb 45 minutes southeast of Phoenix landed on four separate lists of the best and most up-and-coming places to live in Arizona in 2025. April Anderson is the owner of Queen Creek Real Estate, and over the past decade has seen the town go from a place that felt like “the boondocks” to a busy community filled with brand new housing developments. In 2024, Queen Creek was the third fastest-growing
U.S. retail real estate delivered another year of resilience in 2025, marked by a steady balance between supply and demand, despite pressure from increased store closings. Under the surface, market-by-market performance varied more than in any year since the pandemic, as the disparate effect from store closures and diverging demographic trends created a larger gap between the winners and losers. With Sun Belt cities still dominating the rankings amid demographic growth and business-friendly conditions, Charlotte, with a market area that straddles both North
Arizona’s Maricopa County Board of Supervisors voted in favor of modernizing county zoning rules, a move that will bring clarity to which districts’ data centers are allowed in, as reported by the Phoenix Business Journal. The county’s new ordinance, passed Dec. 10, states that data centers will be allowed in two districts: IND-2 for general industrial uses and IND-3 for heavy industrial uses. It also states that land not currently zoned for data centers must go through the county’s rezoning process to gain special approval. Maricopa County is home to 4.5 million people
Following rapid increases in the years following the onset of the pandemic, Phoenix apartment rents have swiftly reversed course, with 2025 shaping up to be the third consecutive year with negative growth. While Valley incomes and wages have followed a similar trajectory, the swings have been far less severe, allowing them to outpace falling apartment rents for over three years. According to data from Oxford Economics, the median household income in the Greater Phoenix area averaged annual growth of just over 4% from 2023 to the third quarter of 2025. Wages
LaPour Partners and Holualoa Companies announced a major construction milestone with the topping-off of the new dual-branded AC Hotel by Marriott and Element by Westin at CityNorth. The ceremony marked the completion of vertical construction on the 8-story, 240-room hotel, which will help support growth in the vibrant Desert Ridge master planned community along the rapidly expanding Loop 101 corridor in North Phoenix. Developers, project partners, and construction team gathered on site for a celebratory beam-signing and the raising of the final structural
The Phoenix-based developers of an Atari-themed hotel planned on Roosevelt Row are hoping nostalgia and excitement might motivate old-school video game fans to invest in the project. Intersection Development, the developer of other Roosevelt Row projects, including the recently opened Rainbow Road, a Mario Kart-inspired apartment complex, purchased land in 2023 slated to develop an Atari-themed hotel, Jordan Taylor, partner at Intersection Development, said. How does someone invest in the Atari hotel? The group is opening a Regulation A, tier two equity
When it comes to the nation’s most favorable ecosystems for startups, Arizona is proving to be a robust hot spot. A report by real estate platform CommercialCafe found Phoenix to be the No. 1 large city for nurturing startups while Tucson and Mesa are Nos. 4 and 5 in the ranking for smaller cities, respectively. The report looked at which places are most hospitable for early-stage companies navigating an era of tightening capital since the generous days of 2021. In times like these, CommercialCafe said, “startups must now rely more heavily on fundamental business health and
The NAIOP Research Foundation today released its newest office market forecast, revealing that national demand for office space surged in the third quarter of 2025 – a sharp reversal from earlier in the year that may signal the beginning of a broader market recovery. The report, “Office Space Demand Forecast, Fourth Quarter 2025,” analyzes current market dynamics, economic conditions and trends shaping office utilization across the U.S. According to the study, nationwide net absorption grew by 19.8 million square feet in the third quarter, a notable increase
After several years of turbulence driven by rising interest rates and economic uncertainty, the stage is finally set for a historic resurgence. Lower borrowing costs, renewed investor confidence, and pent-up transaction demand will ignite what should be the industry’s most significant boom since the recovery that followed the Great Recession. From Class A office towers in fast-growing Sunbelt cities reclaiming their status as prized assets to a wave of consolidation in the PropTech space, the coming year will mark a decisive
The U.S. economy added 64,000 jobs in November, modestly outperforming expectations for 45,000 despite signs of broader labor market softening, according to data from the Bureau of Labor Statistics. The unemployment rate rose to 4.6%, ticking up from 4.4% in October and rising to its highest level since September 2021. Meanwhile, October payrolls were revised sharply lower by 105,000 jobs, largely due to the federal government’s deferred-resignation program. Job creation remained uneven across sectors. Health care once again
Arizona continues to experience robust population growth, fueling gains in both the labor force and the broader economy. According to newly released estimates from the Arizona Office of Economic Opportunity, Arizona added 97,044 residents between July 1, 2024, and July 1, 2025, representing a growth rate of 1.2%. And many Arizona cities saw robust population gains. Fastest-Growing Counties (by Percentage) Pinal County – 3.7% Yuma County – 1.9% Santa Cruz County – 1.5% Mohave County – 1.3% Maricopa County – 1.3% Counties with
When it comes to the nation’s most favorable ecosystems for startups, Arizona is proving to be a robust hot spot. A report by real estate platform CommercialCafe found Phoenix to be the No. 1 large city for nurturing startups while Tucson and Mesa are Nos. 4 and 5 in the ranking for smaller cities, respectively. The report looked at which places are most hospitable for early-stage companies navigating an era of tightening capital since the generous days of 2021. In times like these, CommercialCafe said, “startups must now rely
Shifts in office utilization drives wide performance gaps when looking at major U.S. markets, according to the latest Yardi Matrix report As the office landscape kept changing, the utilization patterns across major markets have shifted unevenly over this past decade, with hybrid work becoming the new standard, according to the latest Yardi Matrix national office report. Most U.S. companies still favor remote work, even with the rate declining each year since its 2021 peak. However, work-from-home rates remain well above 2019 levels
The Arizona economy continues to grind along at a slower-than-usual pace. Jobs are rising slowly, with reduced hiring and modestly elevated layoffs weighing on growth. Income is also slowly rising, reflecting the post-pandemic deceleration in employment costs, although taxable sales growth has rebounded. House price increases have slowed, but housing cost burdens remain elevated and housing permit activity is down so far this year. Stabilizing house prices have contributed significantly to reduced consumer price
An enormous data center hub planned just outside Buckeye got the go-ahead from the Maricopa County Board of Supervisors this week. The board unanimously voted in favor of a rezoning measure allowing industrial uses on a roughly 2,000-acre site during a Dec. 10 meeting, clearing the way for the project, which is being led by Arizona Land Consulting. The firm’s CEO, Anita Verma-Lallian, has teamed up with prominent investors such as former Facebook executive and venture capitalist Chamath Palihapitiya to form an
The park’s three industrial buildings will total some 471K SF of space designed to “meet the needs of modern logistics, distribution, and light manufacturing users,” according to the release. The site sits at the center of the 101 Corridor, at the southwest corner of North 99th Avenue and West Montebello Avenue, with direct access to Loop 101. Construction is set to begin in Q3 2026. In the release, Provident’s Steven Nemer said the $80M project brings its Phoenix pipeline to almost 1M SF. In October, Provident delivered a
Three projects that will provide different types of services to residents in the West Valley are being developed, most of which are expected to be completed in 2026. A major car dealer is expanding its auto service center off the Interstate 10 in Avondale to boost efficiency and the number of people it can serve. Medical offices are being built to meet the needs of the growing population in north Peoria. Glendale is getting a new credit union branch, as part of the company’s plan to expand across the state. Here’s what West
Two giant homebuilders have closed on 601 lots at Hawes Crossing, a master-planned community in Mesa that once served as dairy farm land. Miami-based Lennar Corp. (NYSE: LEN) and Los Angeles-based KB Home (NYSE: KBH) paid roughly $40 million for 601 lots at Hawes Crossing. KB’s transaction closed Dec. 11 and Lennar’s transaction closed on Dec. 5. While this acquisition adds to 561 lots Lennar had already purchased over the past few years, this will be KB Home’s debut at Hawes Crossing, with 259 lots at the southwest
The U.S. commercial real estate market is poised to enter 2026 with stabilizing fundamentals, stronger investor confidence and transaction volume projected to rise 15–20%. Across sectors, leasing and sales activity are gaining momentum, with pricing largely finding a floor and cap rate spreads normalizing, according to Colliers’ 2026 Commercial Real Estate Outlook Report. Multifamily remains the leader in sales volume, with occupancy expected to improve in 2026
A highly anticipated gas station chain with a cult following is getting closer to opening its first Arizona location. Buc-ee’s is scheduled to open in Goodyear in June 2026 and will have a large grand opening and ribbon cutting ceremony on its opening day, according to city officials. The 74,000-square-foot convenience store is currently under construction on Bullard Avenue just south of the I-10 Freeway. It will include 120 fueling stations and is expected to create
Dallas-based Provident acquired about 27 acres in Glendale for almost $17 million with plans for a new industrial project. The site is located off the Loop 101 Freeway and West Montebello Avenue, right across the freeway from State Farm Stadium and the future VAI Resort. The developer purchased the property from an entity tracing to La Mesa RV Center, according to Tempe-based real estate database Vizzda. The site previously sold in 2021 for $9.7 million. Provident is