Sysco Corp. is stretching its reach into the East Valley the keep up with Arizona’s population growth. The Houston-based food service distribution company hosted a groundbreaking Oct. 12 at its new 353,000-square-foot space in southeast Mesa, which is being referred to as Sysco Arizona East
A bird’s eye view of Greater Phoenix today reveals a much-changed metropolitan area since the turn of century. New freeways, homes and businesses populate Arizona’s major population center, despite the economic turmoil caused by the 2008 financial crisis. Since then, the industrial market
Landsea Homes Corp. (Nasdaq: LSEA) has sold 102 lots to Lennar Corp. at its El Cidro master-planned community in Goodyear, according to Tempe-based real estate database Vizzda LLC. Records show Miami-based Lennar (NYSE: LEN) paid $14.01 million in cash for the lots that are near
Treasury yields have been rising fast. The 30-year is at levels unseen since 2007, 4.95%, according to Federal Reserve data — the hot run-up to the Great Recession. Same for the 10-year, standing at 4.78%. The 2-month (5.59%) and 2-year (5.08%) are higher than any since 2006. There have been
RentCafe just released the highly anticipated Market Competitivity Report, which unveils how easy — or how difficult — it was to find an apartment and how many renters compete for each vacant apartment in peak rental season in 139 U.S. markets. The report is based on 5 relevant metrics: number
Dining and entertainment restaurants line the canals in Scottsdale, making it a popular destination for thousands of people. It might soon be possible for Phoenix residents to do the same after the city council unanimously approved the Forty600 development project, which will create a mixed-use development near
An office campus on Tempe Town Lake will undergo a transformation over the next year. Atlanta-based Cousins Properties, the owner of the three-building Hayden Ferry Lakeside campus, will start renovating Hayden Ferry Lakeside I and II — the two older buildings — starting at the end of the year and in early
After an “I come here not to bury CrackerJax” oration, the Parque people hit one out of the park. Their bold – and staggeringly expensive – quest to transform a once-popular amusement park into a massive complex was deemed on track. As such, a billionaire’s vision of recreating an “old-school Scottsdale” landmark
Park Place Mall has been a focal point in Tucson shopper’s minds since the 70s. Like most malls, it has had its struggles. Despite the switch to shopping online, and the Covid pandemic, the mall was still standing, however not without its issues. Park Place Mall successfully sold for $87 million in a foreclosure auction
The economy has stayed resilient in the face of rising federal interest rates, but experts are still undecided if the U.S. will see a recession in 2024. Economists have been warning of a looming recession since the Covid-19 pandemic arrived, but it’s unclear whether or when it will occur, according to keynote speakers
Online personal styling service Stitch Fix is trimming its U.S. distribution network in hopes of better optimizing its clothing inventory across three hubs — rather than its current five facilities — in a cost-cutting move that could help save the company $50 million a year. The San Francisco-based company is cutting
In football terminology, apartment fundamentals have made a lot of first downs but not necessarily touchdowns for 2023, according to Carl Whitaker, Director of Research and Analysis, RealPage. “So, because the ball is moving in the right direction, it’s a win,” Whitaker said, speaking last week
A new co-working space is set to open on Oct. 9 at Kierland Commons, a high-end shopping center on the border of Phoenix and Scottsdale. Industrious, which already has five other locations in the Valley and two in Scottsdale, will be taking over a 27,263-square-foot space on the second floor of Kierland
This is the most difficult time for obtaining financing since Zelman and Associates started measuring this in 2012 and the number of floating-rate mortgage loans is headed to zero. That is according to Mark Franceski, Managing Director, Zelman & Associates – A Walker & Dunlop Company, who was joined by
Landlord Negotiations Seen As Preferable Option in Escaping Some Rent Obligations. Coworking giant WeWork is busy renegotiating with landlords its portfolio leases — moving urgently in an already disrupted U.S. office market to avoid filing for bankruptcy protection and the loss of control other flexible space
Last week, an attorney for Legacy Cares canceled a federal bankrupcy court auction that had been set for Oct. 5 to sell the 320-acre Legacy Park in southeast Mesa, telling the judge the nonprofit had not yet received any qualified bids. In his filing, Legacy attorney Henk Taylor still held out hope of
Although a stronger-than-expected September jobs report may seem on the surface to be cause for celebration, economists were wary of the news Friday. “The job market continues to crank out jobs in high figures: 336,000 in September and over four million more compared to pre-COVID-19 March
Retailers need to make sure their stores are ready for some key dates in November and December. Black Friday (Nov. 24) is expected to be the busiest shopping day of the 2023 holiday season, followed by Super Saturday (Dec. 23) and the third Saturday in Dec. (Dec. 16), according to an analysis from the
These cities accounted for 35 percent of new product nationally, according to Yardi Matrix data. Multifamily demand continued to stay elevated in 2023 despite major economic headwinds, although overall the sector was underperforming compared to 2022 during the first six months of the year. According to
Dining and entertainment restaurants line the canals in Scottsdale, making it a popular destination for thousands of people. It might soon be possible for Phoenix residents to do the same after the city council unanimously approved the Forty600 development project, which will create a mixed-use development
Another 16 acres in south Tempe could become home to a new industrial park. Phoenix-based developer Creation Equity and LGE Design Build, an architecture and construction firm, are requesting a development plan review for a 16-acre site near the southeast corner of Elliot Road and Hardy
Rents are flattening out after going on a rollercoaster ride during the pandemic. The median U.S. asking rent rose 0.4% year over year to $2,011 in September—the sixth straight month in which rents were little changed from a year earlier. Prior to that, rent growth had been slowing rapidly for roughly
The new Phoenix Suns and Mercury owners are investing in their teams’ futures on and off the court. On Thursday, the Suns and Mercury announced it would be spending over $100 million to build a new business headquarters and practice facility for the Mercury located in downtown Phoenix’s Warehouse
The District at Scottsdale, a 332-unit Class A apartment complex, has been sold for $161.5 million, according to Vizzda. Kohlberg Kravis Roberts & Co. (KKR) was the seller. Fairfield Residential was the buyer. Built in 2018 on 4.9 acres at 15446 N. Greenway Hayden Loop in Scottsdale
The auction for the 320-acre Legacy Sports Park in Mesa has been canceled after no bidders registered, according to documents filed Tuesday in the U.S. Bankruptcy Court. An auction for the park was set to take place Oct. 5, but Legacy Cares Inc., the nonprofit that owns the youth and amateur