March 19, 2024

Since January 2020, 35 companies in the semiconductor industry have announced plans to expand or relocate to Arizona, representing $65 billion in investment, according to data from the Arizona Commerce Authority. Those companies include massive fabrication facilities, like

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After many years of adding residents, restaurants and high-rises in downtown Phoenix, leaders are envisioning the next wave of economic development. And it will likely include a convention center expansion and a new entertainment district. In February, more than 3,500 people

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March 18, 2024

Kohl’s (NYSE: KSS) has announced plans to roll out 200 Babies R Us shops this fall at existing Kohl’s locations. The first Babies R Us shop will debut at an undisclosed Kohl’s store in August. Additionally, the company plans to open 140 more Sephora shops at Kohl’s this summer

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We’re barely three months into 2024 and the list of retailers shedding stores this year continues to grow. Yesterday, Dollar Tree became the latest company to announce plans to right size their portfolios by closing underperforming stores. Dollar Tree, the parent company of Family

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The State Of Retail New year: New retail opportunities. And though 2023 is firmly in the rearview mirror, the economic headwinds that characterized much of the year have yet to fully dissipate. But every challenge also brings with it new opportunities, and many retailers are adapting

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FrameTec, a pioneering building component manufacturing plant and building framing services company, announced today plans to build a truss and wall panel manufacturing facility in Casa Grande, Arizona. The new facility will consist of two plant buildings, with the first phase of

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Thousands of new homes have gone up in metro Phoenix during the past few years that homebuyers can’t purchase. But the new houses are for rent, and many people are opting for them over apartments. Called single-family rentals, the Valley is considered “the birthplace” of houses

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March 15, 2024

Real estate prices have bottomed and there’s a great opportunity to move fast and buy assets at beaten-down prices, according to Blackstone Inc. President Jon Gray. “The perception is so negative and yet the value decline has occurred, so when you get into this bottoming period

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After a year in which transactions plummeted more than 50%, some institutional investors have reported they are now returning to the property markets. To be sure, they are expecting discounted pricing for the assets but their return is notable as it suggests that the market has indeed

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Phoenix added 195,000 people between 2020 and 2023, according to new estimates from the Census Bureau released Thursday. The big picture: The influx of newcomers represented a 4% population increase. That’s compared with a 1% increase nationwide. Why it matters: The Valley’s

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Arizona’s economy continues to churn out solid gains. Population growth slowed modestly in 2023, according to estimates from the Arizona Office of Economic Opportunity. U.S. Census Bureau estimates show a more significant slowdown. The state continued to add jobs in 2023, at about

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The Arizona State Land Department Board of Appeals on Thursday unanimously approved the $68.5 million appraisal of 95 acres of land sought by the Arizona Coyotes. There were no questions or discussion about the appraisal on the land at the northwest corner of the Loop 101 freeway

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March 14, 2024

After years of dormancy following the 2008 financial crisis and a pandemic thrown in for good measure, retail development has returned to the Phoenix metro in a big way. The metro had 2.2 million square feet of retail space under construction entering 2024 and an additional 3.6 million

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Asking rents for apartments posted their first nationwide increase in more than seven months in February, Yardi Matrix said Wednesday. The average U.S. asking rent rose $1 to $1,713 in February, up 0.6% year-over-year, while occupancy decreased 60 basis points Y-O-Y to 94.5% as of January

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Despite a fourth quarter dip, the Freddie Mac Multifamily Apartment Investment Market Index (AIMI) was up for 2023, indicating that investment conditions were better in the fourth quarter compared with the prior year. For the fourth quarter, the AIMI fell nationally and in all 25 markets

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Scottsdale-based TerraLane Communities has opened a 297-unit rental community in Goodyear, next to another community it had built and sold in 2022. TerraLane at Canyon Trails South, at 25 N. 173rd Ave., is immediately south of TerraLane at Canyon Trails. Phoenix-based

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Seniorly today released the Best of Senior Living Awards 2024 and identified the 334 best facilities in America. Arizona ranks No. 5 in the nation with 15 award-winning senior living facilities including the No. 6 best facility in the nation — Acoya Troon in Scottsdale, AZ. California led

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March 13, 2024

Multifamily investors appear to be paying less per dollar of property income compared to one year ago, according to Freddie Mac’s latest quarterly update of its Multifamily Apartment Investment Market Index (AIMI). That’s because while mortgage rates have risen significantly, the increase

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About 2,400 apartment units are under construction in downtown Phoenix, putting the submarket in danger of being overbuilt. Developers have been ramping up apartment construction throughout Phoenix for the past several years, which is causing real estate experts such as Peter

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Seniorly today released the Best of Senior Living Awards 2024 and identified the 334 best facilities in America. Arizona ranks No. 5 in the nation with 15 award-winning senior living facilities including the No. 6 best facility in the nation — Acoya Troon in Scottsdale, AZ. California led

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Controversial legislation to stop Arizona cities from requiring HOAs, minimum home sizes and community amenities has passed in both the House and Senate and is headed to the governor. House Bill 2570 garnered bipartisan support in the Legislature to address Arizona’s

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How much is an office building in a big city worth these days? No one really knows. The big picture: Investors have been poised to pounce on depressed office properties for a while now, but there hasn’t been much opportunity for actual deal-making. Yes, but: That’ll probably start to change

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March 12, 2024

Aldi has announced its most ambitious expansion plans to date as it continues to grow its U.S. footprint coast to coast. The discount grocer plans to add 800 stores nationwide by the end of 2028 through a combination of new openings and store conversions. In line with its plans

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Portico, the luxury condominium community from award-winning Belgravia Group in the Loop 101 and Scottsdale Road corridor, announced it has topped off the first building in its nine-building development. Initial move-ins are set to occur in late Summer 2024.  Now is the time to

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Office vacancy in the Valley remains high, as in-person office work never fully rebounded from the shift to remote work that came with the COVID-19 pandemic. Some office experts said the future will show which buildings are the “winners” that remain useful and relevant, and “losers” that are no

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