DAILY TOP 5

Taser-maker Axon will build fewer apartments in north Scottsdale after reaching a deal with city leaders on Nov. 17, ending a monthslong dispute over its planned headquarters project. Following an hours-long debate, the City Council narrowly approved the compromise that will keep Axon’s $1.3 billion corporate campus in Scottsdale and squash a local group’s referendum challenging the project. “This creates finality on this issue,” Mayor Lisa Borowsky said of the new

Following a sluggish first half of the year, the US CRE market posted a strong third quarter. Altus Group’s Q3 2025 report shows a significant uptick in both deal volume and pricing across most property sectors, signaling renewed investor confidence. In total, 45,893 properties changed hands, a 12.6% increase from Q2 and a 6.8% rise from the same period last year. The cumulative dollar volume for Q3 reached $150.6B, marking the highest quarterly total since before the

Vestar, one of the leading privately held shopping center owners and managers in the western United States, announced the completion of Queen Creek Crossing, a 31-acre retail development that broke ground in 2022. Anchored by Costco, Queen Creek Crossing spans more than 400,000 square feet of dynamic retail and dining. The center is 100% leased, including major national and regional retailers, restaurants, and essential services, further enhancing

Home sellers and buyers may be in for a happier year in 2026 if the predictions of Lawrence Yun, chief economist of the National Association of Realtors (NAR), pan out. Yun’s predictions include a 14% boost for existing home sales, and a 5% rise in new home sales. The improvement will be backed by a 4% increase in home prices and a dip in interest rates from 6.7% to 6% that will improve affordability. Continued job gains – 1.3 million more were predicted for

A vacant shopping center at the Dorsey Lane light rail station in Tempe is slated to become affordable housing and a new grocery store, according to a plan approved by Tempe City Council. Tempe owns two noncontiguous parcels near Apache Boulevard and Dorsey Lane. One of the sites contains a now-vacant shopping center that had been anchored by a Food City grocery store. The site is also near the EnVision Tempe, a city-run resource hub that offers programs like employment

A prime piece of state trust land in Buckeye set up for a new mixed-use development is going up for auction Feb. 4. The site encompasses about 272 acres north and south of the I-10 freeway in the West Valley and is next to a growing shopping center hub with over a million square feet of retail space currently underway. San-Diego based Sunbelt Investment Holdings submitted the original application triggering the auction, according to documents filed with the Arizona State Land

The Sheraton Phoenix Downtown, the city’s largest hotel, was purchased by New York-based Brookfield Properties, according to Maricopa County records. “We are honored that Brookfield chose to invest in Sheraton Phoenix Downtown and in our local community,” said Brady Lamar, manager of the hotel.  “We look forward to partnering with our new ownership team.” An entity tracing to real estate giant Blackstone Group sold the property, which it purchased in early 2020 from

Just a quick reminder that Phoenix’s vacant hotels and underused offices are turning into rentals faster than ever. The metro area boasts the 20th biggest pipeline of adaptive reuse apartments, according to RentCafe.com’s latest report.  Here’s a quick breakdown: The Valley is set to deliver 2,463 apartments through adaptive reuse projects in the years to come. The vast majority (70%) are expected from former office spaces. Across the metro area, seven former office buildings will be

Goodman Real Estate acquired Scottsdale on Main, a 119-unit luxury multifamily community in Scottsdale, Arizona, from Baron Properties for $66.1 million. Completed in 2024, the four-story midrise property at 6901 E. Main St. features four-over-one podium construction with unobstructed views of Camelback Mountain. The community includes studios and one- and two-bedroom units ranging from 643- to 1,290 square feet, with finishes that include quartz countertops, stainless

Dozens of north Phoenix community members packed a village planning committee meeting Thursday night and spoke out against a massive mixed-use development planned near Taiwan Semiconductor Manufacturing Co.’s expanding complex. The development, named NorthPark, is spearheaded by Pulte Homes and TSMC at the southwest corner of I-17 and Loop 303. The North Gateway Village Planning Committee unanimously voted to recommend approving the multiple rezoning

Luxury and upper-upscale hotels across the southern United States entered fall with mixed fortunes. Through September, revenue per available room, or RevPAR, trends reveal a bifurcated landscape, with some cities thriving on strong average daily rate growth, while others struggle under occupancy pressure. Regionally, RevPAR gains outpaced the national average, with top performers such as Chattanooga increasing by 11.3% over the 12-month average, Knoxville by 8.7% and

Christmas came early for the stakeholders of Buckeye master-planned community, Teravalis. They celebrated the ceremonial ribbon cutting and grand opening during a private ceremony on Nov. 14. Buckeye Mayor Eric Orsborn said he is thrilled about the opening and partnering with JDM Partners and Howard Hughes Holdings. “They’re the largest master plan developer in the country,” he said. “You look at their projects that exist and it doesn’t get much better.” Gov. Katie Hobbs

Investor confidence in a Federal Reserve rate cut at the December meeting is fading fast, as policymakers signal a growing divide over whether resilient economic activity still warrants further easing. According to CME Group’s FedWatch tool, what had been a roughly two-to-one likelihood of a cut has now shifted to a narrower 44.4% chance versus 55.6% odds for holding steady. The futures market for Fed funds, often unreliable when projecting well in advance, tends to sharpen its focus as

Preliminary site work has begun on Arizona State University Health’s new headquarters in downtown Phoenix. McCarthy Building Cos. is the general contractor and CO Architects and DFDG Architecture are the architects for the 200,000-square-foot building. The project team also includes Meyer Borgman Johnson, providing structural engineering; Spectrum Engineers, handling MEP engineering; Dibble Engineers, providing civil engineering; TrueForm Landscape Architecture

A Tempe neighborhood along the light rail is about to get hundreds of affordable apartments and a grocery store in an area that’s become a food desert. Tempe City Council held a final hearing Nov. 13 to discuss Dorsey Station — a 400-unit development that is 90% affordable — and it unanimously passed an ordinance for a planned area development overlay for the project. It’s the city’s latest effort to bring affordable housing and healthy food back to the transit

Multifamily core fundamentals are showing resilience in Greater Phoenix, despite supply flooding the market, according to a Colliers market report. Occupancy saw a 30 basis points year-over-year increase in the third quarter to 93.5 percent. The biggest improvement was seen in North Phoenix, which enjoyed a 1.1 percent boost to 93.6 percent. Just three subarkets (Camelback, Chandler and Oldtown Scottsdale) experienced occupancy drops

The Phoenix medical office market has performed well so far this year, bouncing back after a challenging 2024, according to CoStar’s latest Medical Office Report. Over the past 12 months, occupied space increased by about 305,000 square feet. This is a turnaround from 2024, when the market lost roughly 87,000 square feet of occupied space. This recovery comes as more than 450,000 square feet of new medical office space was completed, showing

Intersection Development, in conjunction with Räkkhaus Studio, announced the completion of its Rainbow Road project located at 1030 N. 1st Ave. in Phoenix. The project’s design incorporates a variety of elements inspired by Nintendo’s video game series Mario Kart’s Rainbow Road track – playful elements, movement, repeating geometric patterns, and color, honed into a striking contemporary building. “Rainbow Road is a reminder that cities don’t have

Thai Chili 2go, a fast casual Thai restaurant chain based in Gilbert, will add eight new locations to the Valley over the next year. The company, which started about a decade ago as a spinoff from Thai Chili, a traditional sit-down Thai restaurant in the East Valley, has grown in popularity and presence over the past 10 years. There are currently 17 Thai Chili 2go locations around the metro Phoenix area and the company plans on growing its store count by at least

The Phoenix medical office market has performed well so far this year, bouncing back after a challenging 2024, according to CoStar’s latest Medical Office Report. Over the past 12 months, occupied space increased by about 305,000 square feet. This is a turnaround from 2024, when the market lost roughly 87,000 square feet of occupied space. This recovery comes as more than 450,000 square

Numbers were up for single-family home sales in October, according to the latest year-to-date data from Phoenix REALTORS®. Phoenix once again outpaced the national housing market in several different categories. “Year-to-date closed sales, pending sales, new listings and median sales price all increased,” said Christy Walker, board president of Phoenix REALTORS. “These

Location: Seventh Street between Forest and College avenues in Tempe. Description: A 27-story mixed-use tower with 380 residential units is going up north of Old Main at Arizona State University. The tower, called Astria Tempe, is expected to be the second-tallest building in Tempe. The apartment building will have 701 beds spread throughout floors eight through 26. There will be seven levels

Now is not the time for investors to relax about the state of the multifamily market, according to a new analysis from CoStar. On the surface, a growing demand for apartments might be enough to absorb the oversupply created by new construction in some markets and stimulate rent growth. The latest analysis, however, lowers those expectations and predicts that the vacancy will

Simone Charitable Foundation, a Scottsdale-based philanthropic organization with assets totaling approximately $109.4 million, acquired a newly built distribution center in Gilbert, Arizona, from Atlas Capital Partners for $26.8 million, or approximately $443 per square foot. The 60,500-square-foot logistics facility at 3797 S. Silverado Court was completed in 2024 as a