The average minimum-wage worker in the United States must work 116 hours per week—nearly three full-time jobs—to afford a modest two-bedroom rental home, reports the National Low Income Housing Coalition (NLIHC). The nation’s “housing wage” has increased to $33.63 for a modest two-bedroom apartment this year, according to the organization’s latest “Out of Reach
It costs $534 to build a single square foot of commercial space in New York City, the most expensive place on the planet for new construction, according to Turner & Townsend. The cost of construction is expected to keep rising in 2025 — prices for commercial building materials ticked up by 0.2% in June alone. The escalating prices are widening the gap between a
Travel + Leisure unveiled the results of its 2025 World’s Best Awards, honoring top destinations, hotels, airlines, cruise lines, and travel experiences as rated by its global audience. Now in its 30th year, the annual readers’ survey offers a snapshot of how and where people are traveling today, reflecting both long-standing favorites and emerging trends across the industry
The U.S. multifamily market continued to stabilize in the second quarter of 2025, as strong renter demand kept pace with a moderating pace of apartment completions. Net absorption — the net change in occupied stock — totaled 268,000 units in the first half of this year, the third-strongest performance for the first two quarters of a year on record. Meanwhile, additional new supply is easing
Aldi, Trader Joe’s, and Lidl continue to chip away at the market share enjoyed by their larger, more well-established competitors, according to a new report by data analytics firm Placer.ai. Placer.ai reported on its blog that in the first half of 2025, the three grocers have experienced substantial foot traffic growth, with Aldi up 7.1% in year-over-year growth, Trader Joe’s 11.9%, and Lidl 4.9%. That’s compared to
A popular Valley restaurant chain opened, and two new residential projects are underway in Mesa, Scottsdale and Chandler. The popular Arizona-based neighborhood restaurant The Vig opened its first East Valley location in Mesa’s Dana Park Village Square shopping center. The site of a former Olive Garden in Scottsdale is being redeveloped into a senior living project called the Osborn
The West Valley will soon welcome a large shopping center, a preschool and a multipurpose complex. A 410,000-square-foot shopping center in Buckeye remains under construction despite projections that estimated construction would be completed by mid-2025. Primrose Schools will open its 14th metro Phoenix location in Surprise by the end of 2025. Surprise will also
U.S. News & World Report, the global authority in rankings and consumer advice, has unveiled the 2025-2026 Best Places to Live in the U.S., ranking major U.S. cities based on value, desirability, job market and quality of life. This year, U.S. News expanded its data to evaluate more than 850 cities (up from 150 in previous years), publishing the top 250 as the year’s best places to live
In a blockbuster year for Arizona real estate, 2025 has already delivered three jaw-dropping megadeals—rewriting the record books and redefining the desert skyline. In an analysis of data collected by the commercial real estate tracking website Vizzda and AZRE magazine, three of the 10 biggest commercial real estate deals in Arizona over the last 10 years have happened
The glory days of large indoor malls are over. They once served as a community gathering spot and, in the days before Internet shopping, the rare place where people could browse hundreds of stores to appeal to every taste. They are not coming back. Instead, new and emerging shopping destinations might feature thousands of apartments, gyms
Arizona has an important choice to make when it comes to growth: We can try to stop it, or we can plan wisely for it and ensure that it positions the state for a prosperous future. BNSF Railway is choosing the smarter path: preparing thoughtfully for growth and helping position Arizona for a brighter tomorrow. Building on the legacy of its predecessor, the Atchison
Buckeye and Queen Creek can now access groundwater from a farming area in western Phoenix. The move comes after officials from the Department of Water Resources approved the first-ever legal transfer of water from rural Arizona to cities. The agreement will allow the communities of Buckeye and Queen Creek to withdraw up to 5,926 acre-feet per year and 5,000
Summer is moving season, and odds are you have seen a U-Haul truck being unloaded at a home near you because Metro Phoenix continues to be a popular destination for people moving in the United States. With nearly half of all residential moves in the U.S. occurring between Memorial Day and Labor Day weekends each year, the U-Haul midyear migration trends
A new study ranks all U.S. states by percentage increase in business investment growth, with Arizona ranked No. 36 in the country. The state experienced a 356% increase in investment growth between 2019 and 2024, from $2.91 billion to more than $13.27 billion. That’s according to the study from BrokerChooser, an online platform that provides business investors with broker comparisons
The strength of a magnet’s pull depends on its magnetic properties and the strength of its field. There are several reasons why companies like Taiwan Semiconductor Manufacturing Company (TSMC), which is investing $165 billion in its game-changing West Valley facilities, and Amkor, with its $2 billion facility and 500,000 square feet of clean room space in Peoria, have been drawn to the West
An advanced manufacturing factory company announced July 17 it plans to create a facility in Mesa, which will represent a $200 million investment and create about 350 new jobs. Hadrian, a company that creates artificial intelligence-powered factories to manufacture products in various industries, including aerospace and defense, will create a 270,000-square-foot manufacturing and
The U.S. net lease market is showing signs of stability after three years when cap rates were on an upward trajectory, according to the latest Boulder Group report, covering the second quarter of 2025. Quarter-over-quarter, overall asking cap rates were up a minuscule single basis point, from 6.78 percent to 6.79 percent. Compared with the first quarter, retail cap rates edged up
Catal Capital, a family office with deep roots in real estate, is charting a new course through the shifting landscape of commercial property investment. As the firm’s Managing Director, Trisha Connolly Horowitz, explains, Catal Capital has recently expanded its reach beyond ownership and development, launching a private credit strategy aimed at value-add and construction
Taiwan Semiconductor Manufacturing Co. (TSMC) is speeding up manufacturing at its massive north Phoenix campus and may accelerate the production schedule for more facilities, the company announced Thursday. Why it matters: TSMC is expanding its Phoenix footprint, expediting already ambitious plans and cementing Arizona’s status as a national semiconductor hub
Despite Phoenix industrial construction activity continuing to slow down in 2025, 11.9 million square feet remain in the pipeline, according to an analysis from Kidder Mathews
Old Town Scottsdale’s newest luxury hotel property is preparing to open later this month. The Remi Scottsdale, Autograph Collection, a boutique-style hotel, will open on July 22 in the middle of the popular nightlife area and with six bars on location, is expecting to be part of Scottsdale’s entertainment engine. It is located at 4415 N. Buckboard Trail. While new, The Remi
In recent years, Pinal County has established itself as one of Arizona’s most productive regions, welcoming a wave of new residents, businesses and major industrial investments while still honoring the region’s rural heritage. From the bustling corridors of Casa Grande and Queen Creek to the transformative projects reshaping Apache Junction and Superior, each
Capping a pugnacious first half of 2025, the July 2 Scottsdale City Council meeting was another “grab the popcorn and watch the fights” event. Typically, in order to take seven or eight weeks off but still satisfy the two-meetings-per-month requirement, Council squeezes two meetings into the first week of July, then pushes the next two meetings to the last week of August
A Canadian investor’s deal to buy six apartment complexes across the Sun Belt is more than just the purchase of 1,600 apartments. It’s also the latest bet that increasing multifamily demand is set to gain more momentum in the second half of the year as fundamentals improve. Slate Asset Management said it’s acquiring the portfolio of unspecified properties in and around Atlanta, Phoenix and Tampa, Florida. Slate identified the seller, which will stay on as an operating partner
For the past couple of years, the prevailing sentiment in multifamily has been that better times are only six months away. Transaction volume was expected to rebound, driven by the looming maturity of high-leverage bridge loans made in 2021 and early 2022, coupled with surpassing “peak supply” in most markets, leading to a tailwind in…Read More→