LaPour Partners and Holualoa Companies broke ground on AC/Element CityNorth, a new $92 million dual-branded hotel located in the CityNorth, a premier mixed-use development adjacent to Desert Ridge Marketplace in North Phoenix. Adjacent to the new Sprouts Headquarters, this eight-story hotel will bring together two distinctive Marriott brands under one roof — AC Hotel by Marriott and Element by Westin — 142 AC rooms and 98 Element suites
Phoenix-based developer George Oliver, in partnership with Ascentris, has launched plans for Arbor Old Town, a new luxury office redevelopment in the heart of Old Town Scottsdale. Spanning more than 360,000 square feet across three buildings and six acres at the prominent corner of Scottsdale and Indian School roads, the project will introduce the district’s first hospitality-driven campus, combining next-generation workplace design with high-touch
For more than sixteen years, the commercial real estate industry has waited for a resolution to the conservatorships of Fannie Mae and Freddie Mac. The question of when these government-sponsored enterprises will regain independence continues to loom large over the sector. While the timeline remains uncertain, two industry experts believe that recent legislative developments and mounting regulatory momentum could bring the long-awaited end
It might not be a big hit with most Americans, but the “big, beautiful bill” that squeaked through the Senate Tuesday includes a number of perks the real estate industry has lobbied hard for. The budget reconciliation bill — which would extend tax cuts enacted in 2017 and cut spending on programs like Medicaid, among other things — is headed back to the House for final approval
New developments and projects continue to sprout all over Maricopa County — a result of the rapid and sprawling growth of metro Phoenix. With the Valley continuing to expand, much more infrastructure is needed, as are grocery stores, gas stations and most certainly housing. But with much of Phoenix built out, developers are finding ways to repurpose old sites while
Location: Southwest corner of West Queen Creek Road and South Arizona Avenue in south Chandler. Description: Modera Chandler will be a garden-style community featuring 345 apartment homes and a modern farmhouse-style aesthetic. The complex will include seven three-story residential buildings and offer one-, two- and three-bedroom homes with private
A major Pinal County solar project has started commercial operation. Box Canyon, a 300-megawatt utility-scale solar project, is now supplying the Southwest Public Power Agency, Inc. — a joint action agency authorized by state law to manage and pool power resources — the project’s operators said in a June 24 announcement. The project is backed by a joint venture
One of the most stressful parts of buying or refinancing a home is locking in a mortgage rate. Home loan rates vary depending on various factors, including your credit score, down payment size, and — this is a big one — where you live. At the time of publication, the national average 30-year fixed-rate mortgage sits at 6.81%, according to Zillow. That figure could be slightly
New developments and projects continue to sprout all over Maricopa County — a result of the rapid and sprawling growth of metro Phoenix. With the Valley continuing to expand, much more infrastructure is needed, as are grocery stores, gas stations and most certainly housing. But with much of Phoenix built out, developers are finding ways to repurpose
U.S. hotel labor costs per occupied room (POR) have surged across major markets, with the steepest increases concentrated in Sun Belt and coastal destinations. Rising labor expenses are a growing concern for hotel operators, particularly as wage legislation ramps up in key markets. The San Diego and Phoenix markets top the list with 33% increases
If the Arizona housing market had a crystal ball, its forecast would read: “cautious optimism.” Experts across the housing industry, from builders to bankers, forecast a 2% to 5% increase in existing home sales, even as the country deals with economic uncertainty. Median home prices are expected to stay relatively stable, supported by rising inventory, strong
Lisa Vanderpump is bringing a new restaurant to the Valley. Vanderpump, known for her role on Bravo’s hit show “Vanderpump Rules,” is slated to open a Wolf by Vanderpump restaurant at the Caesars Republic Scottsdale before the end of the year. Construction is scheduled to begin next week. The 6,500 square foot restaurant will be on the luxury
Don’t look now, but Arizona is nearly bringing up the rear for job growth. The state finds itself in the unusual position of lagging most of the nation in this important category, as well as neighboring states. Arizona in recent decades had been an expansion economy, creating thousands of jobs and luring thousands more people. The labor force grew
Multifamily continues to stand out as a strong and stable investment, according to DLA Piper’s 2025 State of the Market Survey. The law firm’s survey analyzed the views of commercial real estate leaders on the sector’s economic outlook, the attractiveness of various asset classes and investment markets, and their overall expectations for the next year during two separate waves—one
In commercial real estate, the downside of a boom is usually the bust that comes later. In the data center sector, there is no hint that a bust will come anytime soon. Instead, the potential downside is baked within the boom: the need for power. The rest of the decade will be a scramble for power to keep data centers growing, especially for the wave of new assets that will come
The sale of one of the most iconic resorts in Arizona led the 10 biggest commercial real estate deals in June. Here are the 10 biggest deals in Metro Phoenix commercial real estate from June of 2025, according to data collected by the commercial real estate tracking website Vizzda and AZRE magazine
The U.S. economy added 147,000 jobs in June, curtailing hopes of another mortgage rate drop amid slowing homebuying and homeselling activity. The Bureau of Labor Statistics’ report exceeded analyst expectations by 37,000 jobs, as unemployment rates dropped 3 percent month-over-month to 4.1 percent. The majority of job losses came from the federal government
The backdrop for CRE seems to still include many of the usual suspects going into the second half of 2025: interest rates, tariffs, geopolitics, potential recession. There is, however, change in the air. Panelists at Commercial Property Executive’s 2025 Midyear Outlook webinar, moderated by Editorial Director Suzann Silverman, shared a consensus: While times remain uncertain
Mixed-use properties featuring not only retail but residential and office space have found favor with investors this year, with one in Arizona just fetching $645.1 million. Scottsdale Quarter, a roughly 755,000-square-foot development, last week was acquired by FalconEye Ventures, a real estate firm founded by billionaire tech entrepreneur George Kurtz. FalconEye plans to make a
Despite office demand still recovering more than five years since the pandemic, developers are considering the unthinkable in the not-too-distant future: building a new office building without a commitment from a tenant. Office vacancy across the U.S. hit a record-high 20.4% in the first quarter, according to Moody’s. But vacancy in prime buildings is less than 15%
Despite economic uncertainty, the multifamily market maintained its strength the first half of 2025, with demand nearly keeping pace with the heavy supply of deliveries. According to Yardi Matrix’s semiannual national outlook, the decline in starts and deliveries provides an “optimism about a new wave of rent growth on the other side of the supply peak.” Rents have remained resilient
Results from the latest National Multifamily Housing Council (NMHC) Quarterly Survey of Apartment Construction & Development Activity indicate mixed market conditions currently, but greater optimism over the longer term, NMHC said Wednesday. Fewer respondents reported delays or repricing of deals downward compared to three months ago, yet in a newly added question
The city of Sedona has broken ground on its first affordable housing project. The project consists of 30 units, including 24 one-bedroom apartments and six three-bedroom units. When it’s completed next spring, the three-story complex will boast a gym, covered parking and infrastructure for electric vehicle charging. “We’re excited to be able to provide an opportunity for
A California-based clothing manufacturer bought the 111 West Monroe tower in downtown Phoenix and plans to relocate its headquarters there. Kellwood Company, a maker of girls’ and women’s clothing, bought the building for $17.08 million, according to real estate database Vizzda. “The acquisition of 111 West Monroe marks the beginning of an exciting new chapter for Kellwood, and
Worries have been swirling around the commercial real estate sector as tariff increases and global uncertainty loom, but so far, the data has painted a mixed picture of their direct impact. Despite major players like Blackstone acknowledging that tariffs have influenced their commercial real estate investments, the market has largely remained stable, according