DAILY TOP 5

A recent article published in Foreign Policy arguing against corporate investment in Arizona completely misses the mark. Not only does it misstate the facts, but it also dismisses Arizona’s decades of success advancing sustainable growth while ignoring the many climate challenges

A long-vacant site within the Asante master-planned community has received approval for a major commercial center anchored by an HonorHealth hospital campus, one of the latest health care providers to make plans for facilities in the West Valley. Called Asante Trails, the 101-acre

WeWork’s recent declaration that “substantial doubt exists” about its ability to continue as a going concern threatens to further pummel a U.S. office market already struggling with high vacancy and falling valuations. Its collapse would have wide ripple effects. The coworking

Developers want to add 1,500 residential units to the Vistancia master-planned community’s new commercial core in Peoria. Current zoning for Vistancia only allows a maximum of 10,500 residential units overall but the site’s master developer is asking the city to increase

In years past, hoteliers have feared the prospect of a recession and what that means for hotel demand. At this year’s Hotel Data Conference, a travel industry economist and hotel industry leaders said that even though they expect recession to arrive later this year, it will be

Institutional investors have remained on the sidelines for most asset classes this year, including their erstwhile darling multifamily. But a new analysis by Institutional Property Advisors suggests they will return in force in the second half of 2023. That will largely be due

Tesla (Nasdaq: TSLA) appears to be planning a new sales and repair center at the former Asurion office building in Phoenix. An application was submitted to the city of Phoenix earlier this year to rezone about 8 acres at the southwest corner of Quail and 19th avenues to

A Fry’s-anchored shopping center is being proposed for a 20-acre site in a fast-growing area of the Valley. The 152,281-square-foot shopping center in Buckeye, less than 40 miles west of downtown Phoenix, is set to feature a 123,000-square-foot grocery store,

In July, Arizona jobs rose 2,800 over the month in June after a small drop in May. Arizona seasonally-adjusted jobs rose by 2,800 over the month in June, after dropping a revised 400 in

To meet growing demand from consumers in cars, Starbucks (Nasdaq: SBUX) has opened its first location in Arizona with a double drive-thru and two order points. Drive-thrus continue to be 

Welcome to America’s new boom towns — cities across the U.S. and Texas that are estimated to experience unparalleled growth by the year 2100. From the Phoenix metro area to the Texas cities, these cities have seen influxes of people looking to call these boom towns home. But with

Activity in the downtown Phoenix area hasn’t fully recovered since before the Covid-19 pandemic but is performing better than most large cities across North America, according to recent data from the University of Toronto. Phoenix ranked No. 21 out of 63 downtowns measured,

The median U.S. asking rent in July is only $16 below the record high set in August 2022, according to Redfin, with the average rent being $2,038.  It noted that while rent gains cooled over the past year “big bargains are still often hard to come by given rents are near record

Lincoln Property Company’s Southwest division, LPC Desert West (LPC), has completed the $26.5 million sale of Gainey Center, a three-story, Class A office building offering 500 square feet of frontage along the prestigious Scottsdale Road Corridor in Scottsdale, Arizona. The buyer was

Blossom Rock at Superstition Vistas unveils The First Builders For Its Majestic New East Valley Community – The Phase One Builders include Lennar Homes, David Weekley Homes, Pulte Homes, Tri Pointe Homes, and Brookfield Residential. Scottsdale-based Brookfield Residential announced five of the

Despite better-than-expected economic growth in the first half of the year, concerns over the U.S. economic outlook dampened investor sentiment, according to a new report from CBRE. The firm said uncertainty about where interest rates were going and tightening lending standards by

Arizona economic development efforts continue to break records and earn international attention. During the 12-month fiscal period that ended June 30, 2023, the Arizona Commerce Authority (ACA) and local economic development agencies successfully worked with companies that committed to

Institutional investors have slowed their once rapid pace of single-family rental acquisitions, causing it to register what Yardi Matrix terms “moderate growth” for the first two quarters of this year. Instead, many of these investors are focusing on becoming more efficient in their operations,

Scottsdale Fashion Square has another high-profile, new-to-market restaurant coming to the renovated wing of its property. Earlier this week, Doug Healey, the senior executive vice president of leasing at the Macerich Co. (NYSE: MAC), which owns and operates Scottsdale Fashion Square and

Banks, particularly regional ones, don’t seem to in the best of shape. Aside from the handful of closures earlier this year, Moody’s cut credit ratings of a group of smaller and regional banks and put a number of bigger banks on review for a potential credit downgrade on Monday. The total was rating actions on

Nearly three years after a major purchase of north Scottsdale land, Axon Enterprise Inc. submitted a proposal that outlined its vision to turn that vacant land into its new corporate headquarters — and much more. The Scottsdale-based law enforcement technology company filed

With leaps being made in new and existing manufacturing developments, Pinal County is looking at a bright economic future.  Most recently in November 2022, Procter and Gamble (P&G) announced their plans to build a new manufacturing facility in Coolidge, Arizona. The company has

The sale of a DoubleTree hotel near Phoenix for about $115.5 million is the region’s second-largest hospitality deal of the past year amid strong tourism and business travel demand. Los Angeles-based Global Hospitality Investment Group announced it acquired the

Freddie Mac CEO Michael DeVito acknowledged the difficulties apartment owners are having during the GSE’s second quarter earnings call. Rising mortgage rates are contributing to downward pressure on apartment values nationwide, forcing up the cost of financing properties,