November 3, 2022

An apartment project the developer hopes will become a model for urban, attainably priced housing around the country will begin construction in Tempe soon and will include redeveloping an office parking lot into a 129-unit apartment complex.  The project, called

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Phoenix topped the nation as one of the hottest markets to watch in real estate for 2023, according to a newly released report by the Urban Land Institute and PwC. The Phoenix metro ranked ninth in the nation and is considered a

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Phoenix Convention Center is mulling over the idea of a big expansion of its south building, a new hotel and the creation of a new entertainment district to better compete with other markets across the U.S. and draw in more visitors downtown

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Two out-of-state multifamily development firms that specialize in building projects in federally designated “opportunity zones” are planning a $200 million apartment complex near Phoenix’s Sky Harbor International Airport. Los Angeles-based Banyan Residential and Indianapolis-based

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During the state of the market panel at the recent GlobeSt. net lease national fall event, panelists agreed that we are in a period of price discovery. “We are bullish on retail but we have a pricing disconnect we have to work through,” explained panelist

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November 2, 2022

A new report from Moody’s Analytics CRE signals an ominous inflection point for commercial real estate: nearly a third of new CMBS issuance was afflicted with negative leverage in the third quarter as interest rates surged. According to Moody’s, about

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The Phoenix industrial real estate market, already one of the strongest in the U.S., closed a very robust Q3 2022, as rent rates continued to increase, more space was added to the construction pipeline, and vacancy remained low, according to new research 

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Scottsdale-based SimonCRE is planning a major expansion of its Prasada development with approximately 350,000 square feet of additional retail and restaurant space in the Phoenix metro. The new $100 million shopping center, called Prasada North, will be developed just across Waddell Road from the Village at

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Garden Deer Valley LLC, an entity connected to a national developer with ties to the Minnesota Vikings, was the sole bidder and winner of about 41 acres of state land in an auction on Tuesday morning. The residential developer, New Jersey-based

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Cheesecake Factory is looking to turn rising foot traffic into 7% annual location growth, with up to 24 restaurant openings planned for 2023 following at least 13 expected to debut by the end of this year. The Calabasas, California-based operator of more than

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November 1, 2022

PHOENIX — Orion Investment Real Estate has brokered the sale of Montana on Butler, a multifamily property located on Butler Drive in Phoenix. Artisan Prime, a joint venture between Beverly Hills, Calif.-based Artisan Capital and Newport Beach, Calif.-based

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The Howard Hughes Corporation has broken ground on Teravalis, a 37,000-acre mixed-use master planned community in Northwest Buckeye projected to include 100,000 homes and 55 million square feet of commercial development. Teravalis, previously known as 

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A new 897,315-square-foot industrial park in Glendale has secured two tenants for more than half of the facility along the Loop 303 next to Walmart’s distribution center. The newly completed Latitude 303 Logistics will house Texas-based Lennox, an

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Nearly 250,000 square feet of new office space is on the market for lease as the mixed-use project Scottsdale Entrada has completed construction. Build-out of the south Scottsdale office building completed in July, said Jerry Noble, market officer for

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JPMorgan Chase has entered the proptech industry with rent payment software targeting the multifamily industry, particularly smaller landlords that are unlikely to have existing management systems. A look at the site for the product, which is called Story, shows

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October 31, 2022

Between 2010 and 2021, the Phoenix metro brought online more than 76 million new square feet of industrial, according to a report from 42 Floors. That places the Valley at No. 6 on the list of the top metros in the nation for delivered industrial space, behind

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Banyan Residential, a Los Angeles-based private real estate investment firm, in partnership with national developer Milhaus, announces the acquisition of a 15.5-acre site in Phoenix. The team will develop a two-phased 515-unit apartment community along the

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Looking for a rental apartment? Zillow offers five suggestions, noting that in a recent survey they took, more than a third of respondents said it was harder to find the rental they’re in now than it would be to get a new job. The advice: pay more up front, sign a

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William Pattison is sorry but someone has to say it — a recession is coming. In fact, Pattison, head of the real estate research and strategy team for MetLife Investment Management, apologized a few times while delivering the dreary news to the thousands of

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October 28, 2022

A large industrial park with five buildings recently traded hands for $93.5 million, or $209.46 per square foot, near the Phoenix Sky Harbor International Airport. San Diego-based Westcore Properties purchased the 446,387-square-foot facility from

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Mark-Taylor Residential is adding micro units to its management portfolio after being tapped to manage a 222-unit community in downtown Phoenix. Ascentris tapped the firm to manage Derby, which was completed earlier this year. The 21-story Derby is

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LOS ANGELES—“We are going through a tricky time. It has never been more important to focus on the basis when looking at a transaction.” Those thoughts are according to panelist Bobby Khorshidi, president and chief credit officer at Archway Capital. 

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After years of lockdowns and limited gatherings, millennials are eager for a change of scenery. In a new study, SmartAsset analyzed data for 152 of the largest U.S. cities to determine the Top 20 Millennial hotspots. More specifically, we looked at the number of

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Shoppers are heading to stores for holiday shopping, attracted, at least in part, by a festive atmosphere. Over 63% of U.S. consumers plan to do at least some of their holiday shopping in-store this holiday season — up from 58% last year, according to

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October 27, 2022

The U.S. economy posted its first period of positive growth for 2022 in the third quarter, at least temporarily easing recession fears, the Bureau of Economic Analysis reported Thursday. GDP, a sum of all the goods and services produced from July through

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