A proposed development in Laveen intends to bring nearly 300 acres of development near the western edge of South Mountain Park, which could include an auto mall, hospital, resort and apartments. The developer contends the project will bring more intensive uses, and a major boost
As demand for industrial space pulls back nationally, Phoenix and the Dallas-Fort Worth region stand out as leaders for change in occupied space over the past year. Both markets report rising change in occupied industrial space at or near 3%, the highest rate among the top 20
A major mixed-use project in a prime location in Phoenix is poised to take a big step forward. The Central Park will be heard by the city’s Planning Commission on Dec. 7. The roughly 18-acre project, proposed by Phoenix real estate investment firm Pivotal Group, is adjacent to Steele Indian School
Two of the most notable new eateries in the U.S. are in Phoenix, according to Esquire, which released its list of the top 50 new restaurants of 2023 on Tuesday. How it works: Esquire reviewers sampled about 200 restaurants across the country over the past year and narrowed down
More price hikes are ahead next year but greater overall stability is also expected, according to JLL’s latest report. Calling 2023 a “year of stabilization for the construction industry,” JLL’s 2024 forecast states a strong project pipeline will keep the industry busy in the
If you’re in the building and development business and you’ve got ideas about how the city of Phoenix can make the process easier, the Planning and Development Department wants to hear from you. Driving the news: The department on Monday held the first of four planned listening
PHOENIX — An eye-catching mixed-use project called Manzana is coming to the Roosevelt Row Arts District in Phoenix. Architect Lev Libeskind designed the eight-story building to be a landmark of urban renewal in downtown Phoenix. Construction is expected to begin near Roosevelt Street
These projects are gaining momentum, but the market impact remains limited, according to the latest CommercialEdge report. The potential conversion of vacant office spaces into housing has gained attention since the early days of the pandemic, reflecting the lasting changes in the relationship
If you follow real estate data closely, you’ll know that inventory rose late into November. You also know that new listings are up over last year, too. However, what you might not know is that home sales are climbing, which is a good sign. Watch the video above to get the latest
Amkor Technology Inc., a leading provider of semiconductor packaging and testing services, said it plans to build an advanced facility in Peoria that could cost $2 billion, bring roughly 2,000 jobs and partner with another major chipmaking complex in the northwest Valley. Tempe-based Amkor
Phoenix tops the nation in the number of apartment units expected to be delivered in 2023, according to a report from Yardi Matrix. By the end of 2023, Yardi expects to see 20,541 new units built in metro Phoenix, out of the total 487,512 new unit deliveries expected nationwide. Austin, Texas
It is no secret that many aspects of 2023 have been challenging for the rental housing industry. Amid ongoing economic uncertainty – triggered by lingering inflation – the affordability crisis persists, operational costs have skyrocketed, and growing regulations continue to add an extra layer of strain
Once again, online shoppers spent more money on Cyber Monday than on any single day — ever. Consumers spent a total of $12.4 billion on Cyber Monday (Nov. 27), according to final Adobe Analytics data, up nearly 10% from $11.3 billion on Cyber Monday 2022, which was the previous
Growth in the US economy continues to surprise to the upside while inflation declines. New data from the Bureau of Economic Analysis revealed the US economy grew at a 5.2% annualized pace in the third quarter, revised up from the 4.9% reported in the advance estimate a month
It seems that the financial planets have aligned and driven many to decide that the Federal Reserve will be compelled to lower interest rates. It’s what Deutsche Bank’s economists are predicting — 175 basis points off the current federal funds rate range of 5.25% to 5.5%, according to a Reuters
A record number of people shopped over the five-day holiday weekend as Black Friday continued its streak as the most popular shopping day of the entire weekend. The day after Thanksgiving saw 76.2 million shoppers visit brick-and-mortar stores, up from 72.9 million in 2022, according
With just under 1 million multifamily units under construction in the U.S. at the end of the third quarter, there has been a great deal of focus on which major markets are facing the highest risk of oversupply. While it’s certainly possible to analyze this with a broad-brush approach from a market
The planned VAI Resort in Glendale is expected to have a $32 million annual economic impact, or about $800 million over 25 years to the city of Glendale, according to an economic impact report released Tuesday. When the resort project was unveiled in 2020 as the Crystal Lagoons Island
Every year, AZ Big Media, which publishes both PTK and AZRE magazines selects Arizona’s top people and projects to showcase in its premier commercial real estate magazine — PTK — from an impressive and competitive nomination pool. Each day we will highlight 20 different categories
One Valley city is the nation’s top destination for Generation X movers, and another Arizona municipality is among the top five, according to a new analysis of U.S. Census numbers from SmartAsset. The Gen X report found Surprise had the highest percentage of Gen Xers among new residents
Phoenix-based Curve Development, a full-service real estate development company with experience in production homes, multifamily residences, commercial and institutional developments, last month sold Cyrene at Estrella, a 64-unit build-to-rent home property. The Goodyear, Arizona
More Valley landlords are offering renters concessions, including a free month or two of rent or at least parking. In October, 45% of Phoenix-area apartments listed for lease included some kind of deal, according to a new survey from real estate firm Zillow. In October 2022, about 30%
An ambitious project on a long-vacant parcel of land in one of the Valley’s most prime locations could soon be moving forward. Driving the news: Pivotal Group, a Phoenix-based company that’s developing the property, is seeking city approval for The Central Park, a mixed-use
Jewellery and apparel emerged as the top gift sectors of 24 November. On 24 November, US retail sales experienced a robust increase of 2.5% year-over-year (YoY), excluding automotive and not accounting for inflation. This growth, as reported by Mastercard SpendingPulse, a measure of
Bank of America predicted the Fed will cut interest rates in the middle of 2024. It thinks the country can achieve a soft landing next year, as well. Still, Fed Chair Jerome Powell said the central bank is not considering rate cuts right now. Americans could finally see some financial relief next in