Depending on who you talk to (or where you get your information), multifamily is either a strong sector that’s going gangbusters or a sector that maturing loans could negatively impact. The Q2 2023 numbers also tell an interesting
Rising interest rates and tighter lending standards have led to slower construction starts in recent months but the post-pandemic pipeline combined with strong infrastructure and nonbuilding demand are keeping the construction industry active in the second half of the year
Macerich, one of the nation’s leading owners, operators and developers of high-quality retail and mixed-use properties in top markets, today detailed progress for its current redevelopment of the south wing at Scottsdale Fashion Square, including more experiential dining and
Phoenix’s commercial retail real estate market is having one of its most successful moments in recent history, with a record low occupancy rate reported in the second quarter. The Greater Phoenix retail market vacancy level hit a historic low of 4.8% at the end of June, according to a
Arizona Center, once a destination for downtown dining and nightlife, has struggled in recent years to attract and retain businesses to serve the growing downtown. Phoenix officials hope the new, local owner of the center will help turn things around. “Arizona Center is
The owner of Utah’s largest data center was the sole bidder for 165.3 acres of land near the old GM Proving Grounds in East Mesa last week. Wes Swenson, CEO of Novva Holdings, LLC, bid the minimum $62.7 million price posted by Novva boasts on its website of being a provider of
Wondering how many Californians have moved to Arizona in the last few years? Or what states send the most new residents and migrants to Arizona? Roughly 64,000 Californians moved to Arizona annually during 2017-2021. Population growth plays a crucial role
Is the U.S. economy destined for continued growth or heading into recession? It’s a question pondered daily by investors and analysts around the world, but what do business leaders think? Just 16% of executives responding to the third-quarter AICPA & CIMA Economic Outlook Survey said
Is Metro Phoenix the new Silicon Valley? It certainly could be. A perfect storm of opportunities is brewing with manufacturing, electric vehicles and technologies like artificial intelligence. One missing ingredient is a more widespread investor appetite to go big. But AI could change that and
A Utah-based data center company purchased 165 acres of state land in southeast Mesa for $62.7 million. Wes Swenson, the CEO of Novva Data Centers, was the sole bidder at Tuesday’s auction for the parcel along Warner Road and Loop 202, located within the Hawes Crossing master planned community on
Advocates of new restrictions on short-term rentals (STRs) are gearing up for the 2024 legislative session when they hope Arizona lawmakers will give cities more power to regulate companies like Airbnb and VRBO. Driving the news: Scottsdale is pushing proposals that
Phoenix-based Suncrest, which has developed 24 master-planned communities on 4,100 acres since 2016, has entered the wildly popular build-to-rent sector. A newly created Zora Living brand is being unveiled at its first build-to-rent community in Phoenix. Called Zora Encanto, the
The Greater Phoenix retail market vacancy level hit a historic low 4.8 percent at the end of June, reflecting strong tenant demand in one of the nation’s fastest-growing cities, according to a report released by Colliers in Arizona. Data from Affinity Solutions indicates Phoenix has
Growing up in rural Arizona showed me the importance of a thriving and competitive market for high-quality food. We witnessed it firsthand as a family and as a third-generation community grocer in the small town of Coolidge. The emergence of e-commerce and
Among a long list of things threatened by the pandemic, a familiar question had been asked: Is this the end of the movie theater? As people had to socially distance, theaters had to shutter their doors while officials worked to figure out if there was a safe way to
The long summer months when it’s too hot to do much outside and your children are not in camp have been a boon for retailers that offer “experiences” to keep their customers occupied. “Entertainment and experiences are becoming increasingly important parts of the
Following two months of year-over-year declines, home prices rose in August (+0.7%) as the number of homes on the market decreased for the second month in a row, down -7.9% year-over-year, according to the Realtor.com August Monthly Housing Trends Report released
A decade in the making, The Global Ambassador shared new details today and a first look inside as Sam Fox prepares to bring his debut hotel to life this November. The Global Ambassador announced a partnership with Preferred Hotels & Resorts Legend Collection, the ultimate portfolio of
Two Phoenix real estate development companies started Avilla Palomino, a 197-unit single-family rental complex in Glendale, Arizona, that is expected to open next summer. General contracting firm and developer Mosaic and residential developer NexMetro Communities are
Scottsdale developer Avalon Development is proposing a Aldi grocery store at an emerging shopping center in Mesa. Avalon filed an application with the city of Mesa Aug. 29. The proposed location for the German discount grocery chain would be a 19,432-square-foot store on
A slowdown in venture capital funding has hit the life sciences sector in 2023, driven by rising interest rates, the collapse of Silicon Valley Bank, and general economic uncertainty. Yet, our latest U.S. office market reports continue to show that life science construction is
Developers want to turn about 60 acres of raw desert in Mesa at Signal Butte Road and Southern Avenue into a hub of apartment complexes and a shopping center. cBela Flor Communities LLC and Vivo Partners submitted initial plans to the city on Aug. 21. Bela Flor is
Macerich (NYSE: MAC), one of the nation’s leading owners, operators and developers of high-quality retail and mixed-use properties in top markets, today detailed progress for its current redevelopment of the south wing at Scottsdale Fashion Square, including more experiential dining
Developers want to turn about 60 acres of raw desert in Mesa at Signal Butte Road and Southern Avenue into a hub of apartment complexes and a shopping center. Bela Flor Communities LLC and Vivo Partners submitted initial plans to the city on Aug. 21. Bela Flor is expanding its