DAILY TOP 5

A major Pinal County solar project has started commercial operation. Box Canyon, a 300-megawatt utility-scale solar project, is now supplying the Southwest Public Power Agency, Inc. — a joint action agency authorized by state law to manage and pool power resources — the project’s operators said in a June 24 announcement. The project is backed by a joint venture

One of the most stressful parts of buying or refinancing a home is locking in a mortgage rate. Home loan rates vary depending on various factors, including your credit score, down payment size, and — this is a big one — where you live. At the time of publication, the national average 30-year fixed-rate mortgage sits at 6.81%, according to Zillow. That figure could be slightly

New developments and projects continue to sprout all over Maricopa County — a result of the rapid and sprawling growth of metro Phoenix. With the Valley continuing to expand, much more infrastructure is needed, as are grocery stores, gas stations and most certainly housing. But with much of Phoenix built out, developers are finding ways to repurpose

U.S. hotel labor costs per occupied room (POR) have surged across major markets, with the steepest increases concentrated in Sun Belt and coastal destinations. Rising labor expenses are a growing concern for hotel operators, particularly as wage legislation ramps up in key markets. The San Diego and Phoenix markets top the list with 33% increases

If the Arizona housing market had a crystal ball, its forecast would read: “cautious optimism.” Experts across the housing industry, from builders to bankers, forecast a 2% to 5% increase in existing home sales, even as the country deals with economic uncertainty. Median home prices are expected to stay relatively stable, supported by rising inventory, strong

Lisa Vanderpump is bringing a new restaurant to the Valley. Vanderpump, known for her role on Bravo’s hit show “Vanderpump Rules,” is slated to open a Wolf by Vanderpump restaurant at the Caesars Republic Scottsdale before the end of the year. Construction is scheduled to begin next week. The 6,500 square foot restaurant will be on the luxury

Don’t look now, but Arizona is nearly bringing up the rear for job growth. The state finds itself in the unusual position of lagging most of the nation in this important category, as well as neighboring states. Arizona in recent decades had been an expansion economy, creating thousands of jobs and luring thousands more people. The labor force grew

Multifamily continues to stand out as a strong and stable investment, according to DLA Piper’s 2025 State of the Market Survey. The law firm’s survey analyzed the views of commercial real estate leaders on the sector’s economic outlook, the attractiveness of various asset classes and investment markets, and their overall expectations for the next year during two separate waves—one

In commercial real estate, the downside of a boom is usually the bust that comes later. In the data center sector, there is no hint that a bust will come anytime soon. Instead, the potential downside is baked within the boom: the need for power. The rest of the decade will be a scramble for power to keep data centers growing, especially for the wave of new assets that will come

The sale of one of the most iconic resorts in Arizona led the 10 biggest commercial real estate deals in June. Here are the 10 biggest deals in Metro Phoenix commercial real estate from June of 2025, according to data collected by the commercial real estate tracking website Vizzda and AZRE magazine

The U.S. economy added 147,000 jobs in June, curtailing hopes of another mortgage rate drop amid slowing homebuying and homeselling activity. The Bureau of Labor Statistics’ report exceeded analyst expectations by 37,000 jobs, as unemployment rates dropped 3 percent month-over-month to 4.1 percent. The majority of job losses came from the federal government

The backdrop for CRE seems to still include many of the usual suspects going into the second half of 2025: interest rates, tariffs, geopolitics, potential recession. There is, however, change in the air. Panelists at Commercial Property Executive’s 2025 Midyear Outlook webinar, moderated by Editorial Director Suzann Silverman, shared a consensus: While times remain uncertain

Mixed-use properties featuring not only retail but residential and office space have found favor with investors this year, with one in Arizona just fetching $645.1 million. Scottsdale Quarter, a roughly 755,000-square-foot development, last week was acquired by FalconEye Ventures, a real estate firm founded by billionaire tech entrepreneur George Kurtz. FalconEye plans to make a

Despite office demand still recovering more than five years since the pandemic, developers are considering the unthinkable in the not-too-distant future: building a new office building without a commitment from a tenant. Office vacancy across the U.S. hit a record-high 20.4% in the first quarter, according to Moody’s. But vacancy in prime buildings is less than 15%

Despite economic uncertainty, the multifamily market maintained its strength the first half of 2025, with demand nearly keeping pace with the heavy supply of deliveries. According to Yardi Matrix’s semiannual national outlook, the decline in starts and deliveries provides an “optimism about a new wave of rent growth on the other side of the supply peak.” Rents have remained resilient

Results from the latest National Multifamily Housing Council (NMHC) Quarterly Survey of Apartment Construction & Development Activity indicate mixed market conditions currently, but greater optimism over the longer term, NMHC said Wednesday. Fewer respondents reported delays or repricing of deals downward compared to three months ago, yet in a newly added question

The city of Sedona has broken ground on its first affordable housing project. The project consists of 30 units, including 24 one-bedroom apartments and six three-bedroom units. When it’s completed next spring, the three-story complex will boast a gym, covered parking and infrastructure for electric vehicle charging. “We’re excited to be able to provide an opportunity for

A California-based clothing manufacturer bought the 111 West Monroe tower in downtown Phoenix and plans to relocate its headquarters there. Kellwood Company, a maker of girls’ and women’s clothing, bought the building for $17.08 million, according to real estate database Vizzda. “The acquisition of 111 West Monroe marks the beginning of an exciting new chapter for Kellwood, and

Worries have been swirling around the commercial real estate sector as tariff increases and global uncertainty loom, but so far, the data has painted a mixed picture of their direct impact. Despite major players like Blackstone acknowledging that tariffs have influenced their commercial real estate investments, the market has largely remained stable, according

An already sluggish for-sale housing market is facing a slower summer, recent data shows. With borrowing costs still high, potential homebuyers are pulling back, leaving a growing inventory of unsold houses and weakening price growth, leading homebuilders to put the brakes on new construction. Softer sales of existing homes, which account for roughly 85% of total sales, have been the primary weight

PHOENIX — Arizona Gov. Katie Hobbs signed legislation Friday that funds up to $500 million in renovations to Chase Field, home of the Arizona Diamondbacks. The bill, which won bipartisan support in both of the state’s GOP-controlled chambers, will use sales tax revenue from the stadium and nearby buildings for infrastructure upgrades over the next 30 years, including improvements to

If you ever wanted to play pickleball or Ms. Pac-Man at work, maybe quit your day job and give working at Dutch Bros corporate a try. The company announced it will move headquarters from Oregon to Tempe in June, bringing with it an office space designed with all the retro vibes in mind. Before that, the company rented a space in Tempe’s Liberty Center in 2024. Executives knew

The recent sale of Scottsdale Quarter for $645.1 million ranks in the top 5 for metro Phoenix’s priciest real estate deals of the past 15 years, but it’s not the highest priced Valley deal. Two Phoenix resorts have sold for more, and a huge land deal in Buckeye is just behind the shopping center on the list. So far, 2025 is a big year for high-priced real estate sales with two of the top five

Though the Phoenix labor market notched modestly positive growth over the past year, hiring in traditionally office-using sectors remained in negative territory. Total nonfarm employment climbed 0.6% in the 12-month period ending in May 2025, representing an absolute gain of about 14,300 positions. The private education and health services sector fueled the Valley’s growth