Wood Partners, a national leader in multi-family real estate development and acquisition, recently closed on a new property located in the heart of the 650-acre master-planned community of Cooley Station in Gilbert, Arizona. Once complete, the new community – Alta Cooley
The office market is showing renewed signs of life as firms evaluate and implement return-to-work strategies, with average leasing rates inching up 1.4% year-over-year to an average of $38.67 per square foot. Manhattan remained the priciest market nationwide, with
When a pair of homebuilders plopped down $245.5 million as the winning bidder for 2,783 acres of state land in November, the stage was set for the development of yet another chunk of the far East Valley. That’s because the Arizona State Land Department crafted
Phoenix employment continued to grow in March, but not at the same pace that the market recorded a few months ago. According to the latest preliminary data from the U.S. Bureau of Labor Statistics, the metropolitan area added 9,700 jobs in March, growing 0.5%
The median price for a new home in the Phoenix metropolitan area has surpassed $400,000, according to new data from real estate research firm Zonda. Steven Hensley, advisory manager with Zonda, said the median new home prices in metro Phoenix stand at
Arizona is among the top six states in a national ranking of economic momentum. More than half of the 50 states exceeded the nation’s overall economic performance in the first quarter, according to the first quarter Index of State Economic Momentum published by
Chipotle Mexican Grill smashed first-quarter earnings expectations amid a 17.2% rise in same-store sales. The fast-casual chain anticipates opening 200 new restaurants in 2021, assuming minimal construction and permit delays related to COVID-19, the company said. Chipotle opened
Much has been written about the ongoing challenges facing the office sector as a result of COVID-19, but the first quarter of 2021 has represented an inflection point for the asset class, as companies begin to actualize plans for a return to physical work. A new report from
The U.S. jobs market recovery accelerated its pace last week as fewer Americans headed to the unemployment line, the Labor Department reported Thursday. First-time claims for unemployment insurance totaled 547,000, well below the Dow Jones estimate for 603,000 and
A New York-based real estate private equity fund manager and developer is investing $100 million in the Valley’s rapidly growing build-to-rent market, in which detached single-family homes are constructed in a rental community with rich amenities. GTIS Partners LP is
Over the past 30 years, the share of global semiconductor manufacturing capacity in the U.S. has dropped from 37 percent to 12 percent, according to the Semiconductor Industry Association. In light of the global semiconductor shortage, however, the U.S. is becoming
As Covid vaccines continue to roll out and restrictions are lifted by Arizona Governor Doug Ducey, CEOs are facing pressure to make decisions about when and how professionals will return to office work. Reports say that by mid-summer, a good portion of the working-age
The Greater Phoenix industrial real estate market has maintained a record-breaking pace during first quarter of 2021. Construction activity reached an all-time high level while momentum of net absorption indicates this year will easily outperform 2020. Approximately 17.8
The partnership of Trammell Crow Company (TCC), one of the nation’s largest commercial real estate developers and investors, and PGIM Real Estate, the real estate investment and financing arm of Prudential Financial’s global investment management business, announced
Land Advisors Organization’s Metro Phoenix Homebuilding team announced the closing of a land sale in the bustling West Valley of Metro Phoenix on behalf of Empire Village at Paseo de Luces, LLC, The Empire Group of Companies. The sale fetched $7.8 million for
Apartment demand in the United States continues to outpace typical seasonal trends, with the rollout of coronavirus vaccinations helping to drive one of the best first quarters for demand over the past decade. Demand came in stronger than the usual fourth quarter
While 2020 was a wild ride for everyone in the real estate world, it may have served as the smelling salts for some to the strength, resilience and need for the affordable housing sector. With affordable properties maintaining collections north of 90 percent, while luxury
Arizona’s affordable housing crunch was heading toward a crisis before the pandemic. Pandemic-related job losses over the past year have made the situation worse. And while the almost half a billion dollars of rental aid from the late December stimulus will hopefully
Arizona is flush with cash, more than anyone could have imagined a year ago at the height of the COVID-19 disruptions. Now, lawmakers are talking about what to do with a $1 billion rainy day fund and a $1 billion-plus surplus. Currently, negotiating is underway at the state Capitol
The homeownership rate has long been a key measure of economic well-being for the country and is monitored closely by policymakers, community planners and homebuilders. After hitting a low in 2016, with 63.4% of households living in owner-occupied
A Phoenix developer broke ground on 10 West Commerce Park, a distribution center in the fast-growing Phoenix suburb of Buckeye, Arizona. Architecture firm LGE Design Build, based in Phoenix, said it designed the project under development by Creation Equity at the northwest corner of North Miller and
A developer has purchased an eight acre property in east Mesa to build a mixed-use retail center that already has a handful of tenants committed to the site. Thompson Thrift Retail Group, a wholly owned company of Indianapolis-based Thompson Thrift, closed on the property, on the northeast corner of U.S. 60
If this was a movie shoot, it might be “take 17.”Back in the mid-1980s, the City of Mesa was so eager to flip a single-family neighborhood into a commercial development that it used eminent domain to forcefully purchase the properties, clearing the way for an eagerly-anticipated resort, conference and water
Marking its entry into the Phoenix industrial market, Denver-based Comunale Properties has selected Stevens-Leinweber Construction (SLC) to build Chandler Connection, a 201,000-square-foot, Class A industrial building immediately adjacent to the Chandler Municipal Airport in Chandler, Arizona. Additional
To say the PHX East Valley is the proverbial “mothership” of aviation, defense and aerospace is an understatement. Collectively, the aerospace and defense industries account for 9,300 employment opportunities — most of which are located in Chandler, Gilbert and Mesa. Additionally, the East Valley is