The nation’s severe shortage of affordable and available homes disproportionately affects people of color, reports the National Low Income Housing Coalition (NLIHC). African-American, Native American, Hispanic, and Asian households are more likely than white households
Phoenix had the fourth-largest share of square footage in the 100 largest U.S. office leases by tech firms in 2019, according to a new report from CBRE’s Tech Insights Center. The metro claimed five of the 100 largest tech office leases in the U.S., totaling 1.3 million square feet. “Tech companies are drawn
A mixed-use development including office, retail and a hotel component is being proposed for 11 acres of vacant land across the street from Mercy Gilbert Medical Center at Val Vista Drive and Mercy Road. Reese Anderson, an attorney with Pew & Lake, filed the documents with the town of Gilbert
As the Valley’s housing market continues to heat up, inventory is dropping, prices are rising and homes are selling faster than they were a year ago. The Phoenix area experienced the nation’s sharpest drop in housing inventory during February compared
Private market real estate investors—be they experienced in real estate syndication or new to the asset class—have been exposed to many more investment opportunities since President Obama signed the JOBS Act into law in 2012. Among other things, the law eliminated
Foreign investors continue to view U.S. commercial real estate as a solid investment, with multifamily and industrial properties remaining their favored picks, according to the results of the 28th annual survey conducted by the Association of Foreign Investors in Real Estate
Mortgage rates are starting off in the new decade at very good levels. According to mortgage finance provider Freddie Mac, the 30-year fixed-rate mortgage dipped to 3.7% in the first two weeks of January, compared to 4.5% a year prior. Thus, mortgage rates started off the new year nearly 80 basis
It looks like another grocery store is opening near the Arizona State University campus in Tempe. Trader Joe’s published a small press release on its website saying it is opening in Tempe. The company’s website showed it will open at 940 E. University Ave
The Phoenix market retained its spot as the national leader for multifamily rent growth for a second consecutive year, and the city holds the title for home price appreciation as well. Multifamily rents climbed 6.8% annually in 2019, more than double the national index. Phoenix led
To keep its constituents informed on the progress of Arizona’s technology community, the Arizona Technology Council today released its latest Quarterly Arizona Technology Industry Impact Report. Among other positive news, the data from Q4 2019 revealed that Arizona’s
The last week saw a surge in coronavirus cases both in the U.S. and worldwide, driving a sharp downturn in global stock markets and raising concerns that the outbreak’s impact, both in terms of health and the economy, is poised to deepen. The commercial real estate business
Life Time Inc. opened its latest location in Phoenix Friday and company officials said it’s the largest-ever opening for the upscale fitness center operator.The new location, within the Biltmore Fashion Park, is Life Time’s fifth in the state and first new operation since 2007. It marks the first Life Time location in Arizona
After buying the former Henkel Corporate Center in north Scottsdale, new owner Stockdale Capital Partners has renamed the building and is looking for tenants after former laboratory and research and development space in the structure has been turned into office space. The building, now called the Ilume Innovation
Multifamily investors, owners, and brokers had a very active 2019, with record-breaking acquisition volume, and 2020 is underway with optimistic expectations. “We expect sustained enthusiasm and capital for multifamily investment through 2020, along with deep pools of debt capital
Independent publicly traded company Retail Value Inc. (RVI) has sold the grocery-anchored Tucson Spectrum in Tucson, Arizona, to North American Development Group, a full service real estate platform with more than $5 billion of assets under management
NAIOP Arizona Owner/Developer of the Year Lincoln Property Company (LPC) joined with local dignitaries and guests today to break ground on the first building at Park303, a major industrial master-planned development that at build-out will accommodate up to 4.5 million
Downtown Tempe, the Chandler Price Corridor, downtown Phoenix and south Scottsdale are the hottest Phoenix tech submarkets, according to CBRE and Greater Phoenix Economic Council’s “The Greater Phoenix Tech Story” report. The four economic development directors
State capitals are not just dull administrative hubs. At least not anymore. In fact, some state capitals boast outstanding rent-to-income ratios, very low crime rates, and impressive shares of high-end apartments. In its most recent RENTCafe, researchers ranked the state capitals by factoring
The coronavirus outbreak is resurrecting health concerns among the general public about not only coworking facilities but open offices that foster close physical proximity to colleagues, fellow entrepreneurs and freelancers to promote collaboration and the exchange
Pomo Restaurant Group’s Pomo Pizzeria and Luna Gelateria, has announced its newest casual dining concept, Pomo Pizza. The restaurant is a spinoff of the wildly popular Pomo Pizzeria and will specialize in Pinsa, Pizza Romana and classic-style pizza. The restaurant
The first floors of many new apartment buildings have become bustling spaces boasting the best amenities. More akin to hotel lobbies, these spaces are rapidly becoming a selling point from developers hoping to lure tenants in competitive markets
The Tempe, Arizona, construction pipeline is stocked with speculative projects as developers work feverishly to meet the overwhelming demand for office space. Tempe has become a nationally recognized office hub, known for its top-tier product, the presence of Arizona State University, lakeside views
A few years ago, Bill Gates has announced plans to build a smart city outside of Buckeye in Arizona. Through his subsidiary Mt. Lemmon Holdings, the billionaire spent $80 million to purchase more than 24,000 acres of land with plans to build a smart city
Affordable rental rates and home prices in metro Phoenix continue to attract Southern California residents in droves, according to a report by the University of Southern California Lusk Center for Real Estate. While it’s no surprise to local real estate experts
One of the largest medical technology companies in the world has made the new IDEA Tempe campus its new home, with plans to hire more as the company grows. BD Peripheral Intervention has leased four of six floors in the building recently completed