Rumblings of a recovery from the pandemic are emerging in the apartment market, giving one national apartment real estate investment trust enough confidence to improve its financial forecast for the year. While certain apartment markets are still
Soaring lumber prices that have tripled over the past 12 months has caused the price of an average new single-family home to increase by $35,872, according to new analysis by the NAHB Economics team. This lumber price hike has also added nearly
After a tough 2020, Phoenix-based Fox Restaurant Concepts started 2021 off right, reporting a profit and its largest revenue numbers in more than a year. FRC, which is owned by Calabasas Hills, California-based The Cheesecake Factory, reported revenue
More than one year into the COVID-19 pandemic, we explore where rent prices stand today compared to one year ago. And Gilbert is among the Top 10 cities in U.S. that has seen the biggest rent increase over the last year. On a national level,
A number of unsustainable trends have developed in the housing market. The combination of a decade of underbuilding, favorable demographics, historically low interest rates, and a shift in consumer preferences have pushed single-family housing
Peoria offered up a steep subsidy to move forward with a $510 million project to pad out the P83 entertainment district with apartments or condominiums, a full-service hotel and office space. More than a year after city leaders floated plans for the
The joint venture of Tempe-based Metro Commercial Properties and Principal Real Estate Investors of Des Moines, Iowa announced the commencement of development for five new light industrial properties totaling 406,575 square feet to be
Vereit, a Phoenix-based owner of offices, restaurants, stores and other commercial properties, will be acquired by Realty Income Corp. of San Diego, with the companies planning to spin-off nearly all of their office properties. The announcement on
Cap rates may compress during the latter half of this year, despite rising Treasury yields, as the economic recovery continues to follow a K-shaped trajectory. A recent analysis from MetLife Investment Management notes that the US five-year
The pandemic disrupted not only how Americans work, but also where they live. No longer reaping the benefits of the live-work-play lifestyle, residents of top-tier cities went in search of more affordable housing options. While some markets fell out of
A recently renovated Chandler shopping center will be home to a number of first-to-market Asian retailers and restaurants. A $10 million makeover was recently completed on a 117,000-square-foot retail center on the northeast corner of Chandler
As Covid vaccinations gain steam, so are plans to return to the office — despite how some workers feel about it. “We were told we would start going back to the office in June,” said Melissa Gill, 29, “and I am just not ready. ”Gill, who books athletic
Brett White, CEO of global commercial real estate services giant Cushman and Wakefield, sees some bad times immediately ahead for office space, though he expects that to reverse with new job creation. “We’re very optimistic with the signs … that
A relocation to a new facility in metro Phoenix will allow a British-based manufacturer to grow and create jobs later this year. Avondale officials announced Monday that Photocentric, Inc., is moving its U.S. headquarters from Phoenix to the West
More multifamily investors are pouring capital into markets in the greater Sun Belt region at a record clip. Through the end of the first quarter of 2021, the Dallas-Fort Worth metroplex led the country in overall multifamily sales volume, followed by Atlanta and
A massive new industrial project is set for development on a key 101-acre parcel fronting the 202 Freeway near Phoenix-Mesa Gateway Airport. LaPour Partners is teaming with Scottsdale Investment Management (“SIM”) to build 1.5 million square feet of new industrial
The COVID-19 pandemic threw a wrench into many industries, but the Arizona commercial real estate industry does not seem to be one of them, with new projects breaking ground almost daily in Metro Phoenix. Here are six Metro Phoenix construction projects to
Sumitomo Corporation of Americas plans to submit the former Collier Center, an office high-rise in downtown Phoenix, to a sweeping renovation, after which the company will reintroduce the approximately 600,000-square-foot building as 201 E. Washington. Sumitomo will
Greater Phoenix’s office development activity kept going at a slow and steady pace in March, with few square feet added to the pipeline when compared to February. According to CommercialEdge information, there were 17 office projects totaling nearly 2.5 million
NexMetro Communities, a Valley developer of luxury leased-home neighborhoods, is bringing its innovative approach to single-family rental homes with a new community in Mesa. Avilla Enclave, a 96-home neighborhood in Mesa, is one of six new communities it
Amazon is continuing its investment in Arizona with two new sortation centers — one in Glendale and one in Tucson — to support customer fulfillment and delivery operations. The Tucson site is expected to open later this year and create hundreds of new full- and part-time
Suburban office growth accelerated to a 3.6% annual pace in March, while urban assets declined by 2.4% year-over-year, reflecting a continuing trend of suburban outperformance in the sector. A new analysis from Real Capital Analytics shows that investor interest
Queen Creek ranks as one of the nation’s top suburbs to move to this year, according to a real estate website. The town ranks 10th on the list by Homes.com, which looked at various factors to come up with the rankings including average home price and quality of
Phoenix employment continued to grow in March, but not at the same pace that the market recorded a few months ago. According to the latest preliminary data from the U.S. Bureau of Labor Statistics, the metropolitan area added 9,700 jobs in March, growing 0.5% month
Larry Kush is named, for the third consecutive year, as a “Top Expert in the Construction Industry” on an annual list of Top 200 Experts in the Construction Industry, compiled and presented by Fixr.com. The list recognizes innovative housing professionals, who take pride in