DAILY TOP 5

The geography of American rental demand is being reshaped by forces that go well beyond simple preference, according to experts at Johns Burns Real Estate Consulting. As affordability challenges and economic uncertainty persist, more affluent tenants are increasingly choosing to rent within prime metropolitan markets, while ownership opportunities have shifted farther out into remote zones where prices remain accessible

The developer of a $650 million project to build Arizona’s tallest tower won’t break ground in 2025, after all. Originally projected to break ground during the second quarter, the project is getting pushed back to potentially break ground in downtown Phoenix by the back half of 2026. Aspirant Development, developer of the Astra, is still working on finalizing financing

A dramatic shift is reshaping the nation’s rental housing market. According to RealPage, 15 of the 50 largest U.S. apartment markets posted all-time record demand in the year ending with the second quarter of 2025. In these cities, absorption not only far outpaced historical averages but also surged ahead of elevated completion volumes, marking a decisive turn in

Washington, D.C.-based investor Fundrise has secured a $352.7 million refinancing for a national industrial portfolio through a deal arranged by JLL Capital Markets. Goldman Sachs and TPG Real Estate Credit provided the loan for the 12-building portfolio spanning 3.18 million square feet across major U.S. logistics markets. The borrower, affiliate funds of Fundrise

The retail landscape in 2025 has continued to change. Department and big box stores have shuttered some or all of their locations — even the once staple of every mall, Forever 21, couldn’t stave off online competition. “People have endless options when it comes to where and how they shop,” stated a January news release from Macy’s that also announced the

Sonora West Development, the luxury home builder that has completed over 500 projects totaling nearly $1 billion since 2001, has broken ground on two new luxury developments: the four-home Camelback Palms community in Phoenix and the 31-lot Solace development in Carefree, Arizona. Construction is already underway at Camelback Palms and Royal Palms Resort

“On the groups and convention side, our bookings are pacing up double digits, thanks to robust 2026 convention calendar that includes the return of [Conexpo-]Con/Agg. The Las Vegas Convention Center is spending $1.6 billion to renovate its legacy campus and expand the West Hall and remains on track to finish by the end of this year. “We will also benefit from greater Las Vegas

The multidecade-high wave of supply that poured into the Phoenix multifamily market over the past few years has meaningfully weighed on occupancy. The Valley’s stabilized vacancy rate, which excludes newly built properties in lease-up until they reach 90% occupancy or are older than 18 months, has climbed from about 5.6% in 2019 to 8.5% as of the second quarter of 2025. That

More retailers are signing on as Buckeye’s burgeoning shopping center corridor off the I-10 freeway and Verrado Way takes shape, where more than 1 million square feet of retail is currently under development. At Verrado Marketplace, a 500,000-square-foot complex from Vestar on the northeast side of the freeway, the newest specialty retailers to sign leases include See’s Candies and

Macerich Co. (NYSE: MAC), the owner and operator of several of the Valley’s largest malls and shopping centers, has sold nearly $150 million worth of property in the Phoenix area in the past year — and it could be looking to get rid of more. The California publicly-traded real estate investment trust implemented a plan last year to sell off its slower-performing properties. The company’s latest

Troon, which bills itself as the world’s largest golf and golf-related hospitality management company, has signed the largest Valley office lease of the year at Inisio at Kierland, the building’s landlord announced on Aug. 13. The Scottsdale-based company, which comprises four brands that help with golf course and country club management, will move its headquarters into its

Crescent Communities, which has invested $377 million in multifamily development in metro Phoenix since 2007, has plans to double down on its activity in the Valley by investing another $433 million. The Charlotte, North Carolina-based developer has been actively developing in the metro since 2012, opening a Phoenix office in 2020 when Ken Keefe joined the company. Crescent has developed six luxury communities in the metro totaling 1,549 units

The Phoenix multifamily market is navigating another year of underwhelming rent growth. The average asking rent at Valley apartment buildings decreased 0.5% in July, the worst monthly performance since October 2024. Last month’s result marked the sixth-straight month of rent losses, bringing the year-to-date decline to 1%. For comparison, Phoenix rents rose 0.3% during the opening seven months of 2024, before steep losses in the back half

Commercial real estate investment and lending surged in the second quarter of 2025, but market analysts remain wary, cautioning that optimism should be tempered by the sector’s ongoing volatility and complex landscape. According to CBRE’s U.S. capital markets data, investment volume in Q2—excluding entity-level transactions—jumped to $96.9 billion, marking a 13% increase over the previous year. Private investors led the charge

Even as the commercial real estate market navigates a challenging economic landscape, a handful of major U.S. cities are driving a disproportionate share of investment activity — and reshaping the types of projects investors are pursuing. In the first half of the year, the nation’s top 12 commercial real estate markets accounted for nearly $68 billion in sales, representing 37% of total volume, according to Avison Young’s U.S. investment sales

American consumers have become more hesitant to spend, with year-over-year growth in real personal consumption expenditures falling a full percentage point from 3.1% at the end of last year to 2.1% at the end of June. While general uncertainty about the path of economic policy may be a factor in their restraint, rising consumer loan debt delinquencies may be contributing to the slowdown. The share of household debt balances in delinquency reached

Long known as a destination for college students (and those wishing they were still college students), a handful of new restaurant and hospitality developments aim to pivot Old Town Scottsdale away from nightclub culture to appeal to a broader range of demographics. “This has been a calculated shift by our company to elevate the offerings in the hospitality district,” said Lissa Druss, a spokesperson for Riot Hospitality, which owns and operates several restaurants and

A $1 billion Gilbert development could kick off construction this year after receiving the final approvals from the town’s Planning Commission. The Ranch, a roughly 300-acre development planned at Power and Warner roads, is planned to include 3 million square feet of industrial space, 34 acres of retail development, 729 apartment units and 18 acres of green space near the neighboring residential community. The development had been controversial when

The lender for the $2 billion Ritz-Carlton Paradise Valley and The Palmeraie residential development has made plans to foreclose on the property amid a tense legal battle. The lender, an entity affiliated with New York-based private equity company Madison Realty Capital, filed a notice of trustee’s sale on Aug. 4. A public auction is set for Nov. 12 at the Maricopa County Superior Court Building in downtown Phoenix, according to county documents. The foreclosure sale marks

Although Phoenix home prices are plateauing in buyers’ favor, would-be buyers may stick to renting as mortgage interest rates remain around 6%. A recent RentCafe report reveals exactly how much square footage renters can get around the Valley with $1,500 a month. The report ranked the 200 largest cities across the United States using apartment data from Yardi Matrix to determine where $1,500 gets renters the most space. As it did in last year’s report, Tucson

Thompson Thrift, a full-service nationally recognized real estate company, announced today that Lowe’s has opened a 130,000-square-foot store at South Bridge Marketplace in Maricopa. Later this year the company plans to begin construction on a 54,000-square-foot second phase that will be anchored by ALDI. “The successful opening of Lowe’s is a testament to the strong partnership we’ve built with the city of Maricopa,” said Dan Sink, president and chief

Following four years of steep occupancy loss, the Phoenix office market is finally showing signs of stabilization. While the medical office segment has been comparatively resilient over the past five years, performance among the Valley’s traditional for-lease office buildings has been disrupted. The analysis in this article excludes medical and owner-occupied office buildings and those

U.S. apartment rent growth continued to slow in July, with more than half the nation’s 50 biggest multifamily markets seeing month-over-month declines. The national average monthly rent, at $1,717, was virtually flat and unchanged from June, according to a report from Apartments.com, the listings website owned by CoStar Group. The month-over-month change was a negligible 0.03% decrease

The biggest U.S. commercial real estate markets are once again setting the tone for national investment trends — though the picture is far from one-dimensional. The country’s 12 largest metropolitan areas accounted for 37% of all commercial property sales in the first half of 2025, totaling nearly $68 billion in volume, according to Avison Young’s midyear investment sales report