It costs $534 to build a single square foot of commercial space in New York City, the most expensive place on the planet for new construction, according to Turner & Townsend. The cost of construction is expected to keep rising in 2025 — prices for commercial building materials ticked up by 0.2% in June alone. The escalating prices are widening the gap between a handful of
A highly skilled and stable tech talent pool plays an important role in the performance of office markets across regions and the country. Emerging tech hubs and established headquarters vary in labor market performance and opportunities, with hybrid work and more affordable living costs driving population growth trends, according to Colliers’ July U.S. tech trends report
Slower demand from buyers has more homes for sale now than at any time since 2019, according to the latest market report from Zillow. With homes lingering on the market and less competition for them, a long-anticipated balance of power between buyers and sellers looks to have finally arrived. As a result of that, Phoenix is among the Top 5 U.S. cities seeing the most home
Arizona malls, past and present: A closer look at shopping in the Valley: From Metrocenter to Fiesta Mall to Scottsdale Fashion Square, Arizona residents have never had a shortage of shopping options
Rentometer has published its latest Single-Family Rentals Report, covering the first six months of the year and highlighting rent prices and trends across the U.S. The report also details which Arizona cities have seen increases in rent prices and which cities have seen decreases in rent prices. The report focuses on median rents for 3-bedroom single-family homes in over 1,100 cities nationwide
Scottsdale-based homebuilder Taylor Morrison Home Corp. entered into a $3 billion financing facility agreement for the company’s build-to-rent brand, Yardly, with a goal of building up even more land reserves for future projects. In a July 23 announcement, Taylor Morrison (NYSE: TMHC), one of the largest homebuilders in the United States, detailed its deal with Kennedy Lewis Investment
A handful of emerging U.S. tech markets, including Austin, Texas, Pittsburgh, Raleigh-Durham, N.C., and Denver, are solidifying their positions, also rising their profiles on the global stage. Meanwhile, legacy core hubs across the country retain their dominance. Accounting for multiple labor variables, such as hiring, workforce pool and student population, as well as tech capital flow and local
President Donald Trump and key players from the energy and data center industries gathered in Pittsburgh last week to announce more than $90B of new AI data center development in Pennsylvania and across the mid-Atlantic. But as the administration touts this surge of planned data centers, industry experts question whether the power grid serving this region can handle the tsunami of new
When large-scale shopping malls were being developed, they were built in places with easy transportation access, near densely populated areas to create a built-in customer base. Online shopping, food delivery and other consumer habit changes have rendered many of the traditional indoor malls to be functionally obsolete, but their strategic locations have made those sites attractive
Residential construction starts increased 4.6% in June to a seasonally adjusted annual rate of 1.32 million units, the U.S. Department of Housing and Urban Development and the U.S. Census Bureau reported Friday. A 30% monthly increase in apartment starts to an annualized 438,000 units was responsible for the month-over-month gain, as single-family starts declined 4.6% from May
The average minimum-wage worker in the United States must work 116 hours per week—nearly three full-time jobs—to afford a modest two-bedroom rental home, reports the National Low Income Housing Coalition (NLIHC). The nation’s “housing wage” has increased to $33.63 for a modest two-bedroom apartment this year, according to the organization’s latest “Out of Reach
It costs $534 to build a single square foot of commercial space in New York City, the most expensive place on the planet for new construction, according to Turner & Townsend. The cost of construction is expected to keep rising in 2025 — prices for commercial building materials ticked up by 0.2% in June alone. The escalating prices are widening the gap between a
Travel + Leisure unveiled the results of its 2025 World’s Best Awards, honoring top destinations, hotels, airlines, cruise lines, and travel experiences as rated by its global audience. Now in its 30th year, the annual readers’ survey offers a snapshot of how and where people are traveling today, reflecting both long-standing favorites and emerging trends across the industry
The U.S. multifamily market continued to stabilize in the second quarter of 2025, as strong renter demand kept pace with a moderating pace of apartment completions. Net absorption — the net change in occupied stock — totaled 268,000 units in the first half of this year, the third-strongest performance for the first two quarters of a year on record. Meanwhile, additional new supply is easing
Aldi, Trader Joe’s, and Lidl continue to chip away at the market share enjoyed by their larger, more well-established competitors, according to a new report by data analytics firm Placer.ai. Placer.ai reported on its blog that in the first half of 2025, the three grocers have experienced substantial foot traffic growth, with Aldi up 7.1% in year-over-year growth, Trader Joe’s 11.9%, and Lidl 4.9%. That’s compared to
A popular Valley restaurant chain opened, and two new residential projects are underway in Mesa, Scottsdale and Chandler. The popular Arizona-based neighborhood restaurant The Vig opened its first East Valley location in Mesa’s Dana Park Village Square shopping center. The site of a former Olive Garden in Scottsdale is being redeveloped into a senior living project called the Osborn
The West Valley will soon welcome a large shopping center, a preschool and a multipurpose complex. A 410,000-square-foot shopping center in Buckeye remains under construction despite projections that estimated construction would be completed by mid-2025. Primrose Schools will open its 14th metro Phoenix location in Surprise by the end of 2025. Surprise will also
U.S. News & World Report, the global authority in rankings and consumer advice, has unveiled the 2025-2026 Best Places to Live in the U.S., ranking major U.S. cities based on value, desirability, job market and quality of life. This year, U.S. News expanded its data to evaluate more than 850 cities (up from 150 in previous years), publishing the top 250 as the year’s best places to live
In a blockbuster year for Arizona real estate, 2025 has already delivered three jaw-dropping megadeals—rewriting the record books and redefining the desert skyline. In an analysis of data collected by the commercial real estate tracking website Vizzda and AZRE magazine, three of the 10 biggest commercial real estate deals in Arizona over the last 10 years have happened
The glory days of large indoor malls are over. They once served as a community gathering spot and, in the days before Internet shopping, the rare place where people could browse hundreds of stores to appeal to every taste. They are not coming back. Instead, new and emerging shopping destinations might feature thousands of apartments, gyms
Arizona has an important choice to make when it comes to growth: We can try to stop it, or we can plan wisely for it and ensure that it positions the state for a prosperous future. BNSF Railway is choosing the smarter path: preparing thoughtfully for growth and helping position Arizona for a brighter tomorrow. Building on the legacy of its predecessor, the Atchison
Buckeye and Queen Creek can now access groundwater from a farming area in western Phoenix. The move comes after officials from the Department of Water Resources approved the first-ever legal transfer of water from rural Arizona to cities. The agreement will allow the communities of Buckeye and Queen Creek to withdraw up to 5,926 acre-feet per year and 5,000
Summer is moving season, and odds are you have seen a U-Haul truck being unloaded at a home near you because Metro Phoenix continues to be a popular destination for people moving in the United States. With nearly half of all residential moves in the U.S. occurring between Memorial Day and Labor Day weekends each year, the U-Haul midyear migration trends
A new study ranks all U.S. states by percentage increase in business investment growth, with Arizona ranked No. 36 in the country. The state experienced a 356% increase in investment growth between 2019 and 2024, from $2.91 billion to more than $13.27 billion. That’s according to the study from BrokerChooser, an online platform that provides business investors with broker comparisons
The strength of a magnet’s pull depends on its magnetic properties and the strength of its field. There are several reasons why companies like Taiwan Semiconductor Manufacturing Company (TSMC), which is investing $165 billion in its game-changing West Valley facilities, and Amkor, with its $2 billion facility and 500,000 square feet of clean room space in Peoria, have been drawn to the West