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.
No matter what the conditions, deal-making in the hotel industry never fully stops. Despite a number of factors, particularly recent economic uncertainty and slowed U.S. hotel transaction pace during the first half of the year, there were hotel owners and investors who still tried to find and close deals, particularly for hotels priced at under $50 million.
Shoppers in three metro Phoenix cities will soon have another option for clothes, home goods, electronics and groceries. Major retailer Target plans to open new stores in 22 states, including three in Arizona. “From the Big Apple to the California coast and in between, our stores are at the center of how we serve our guests,” according to Target’s website. “And that’s why we’re continuing to invest in new stores in neighborhoods across the country.”
Billions of dollars sit on the sidelines, poised to reshape the commercial real estate landscape—if only the right moment would arrive. According to CoStar, the ten largest commercial real estate funds currently hold a staggering $46.4 billion in dry powder, capital that’s ready to deploy but waiting for the right opportunity. Blackstone Real Estate Partners X leads the pack, having raised $30.4 billion
When Taiwan Semiconductor Manufacturing Co. announced plans in 2020 to build a manufacturing campus in north Phoenix, it set off a flurry of foreign investment in the state. It also helped Arizona land the largest semiconductor industry conference in the nation. Just as luring TSMC to the Valley took years of negotiations, landing SEMICON West didn’t happen overnight. In July 2022, a group of city
About 835 acres of land, part of an area deemed the “Peoria Innovation Core” will be sold at an Arizona State Land Department auction in August, kickstarting a plan between the city and the department to create a tech-industry hub in the area. The site, located at Loop 303 and Lake Pleasant Parkway, is part of the much larger, roughly 6,700-acre master-planned area of the Peoria
A Fry’s Grocery store will be the anchor tenant for the commercial section of Hermosa Ranch Technology Campus in Avondale, according to city officials. The campus, located at the southwest corner of Avondale Boulevard and Lower Buckeye Road, has about 30 acres dedicated to neighborhood commercial, including restaurants, fitness centers and other retail, while the remaining 200-plus acres
After years of warning signs—rising interest rates, refinancing hurdles, looming maturity waves and persistent bid-ask gaps—the multifamily real estate market may finally be reaching a tipping point. According to data from Trepp, the multifamily sector is poised to become a “key hunting ground for acquisition opportunities,” signaling that widespread distressed sales
Office leasing activity edged higher in the first half of the year, though overall leasing volume remains stubbornly below its typical level from the late 2010s. While a few markets appear to be in full-blown recovery, others are still off the pace, hampered by both tepid demand and the absence of large blocks of available premium space. Tenants executed new lease agreements
Economic development is booming across Arizona. Companies across a variety of industries announced plans to invest over $31 billion in new projects, expected to bring a projected 24,285 new jobs within the fiscal year that ended June 30. That’s according to the Arizona Commerce Authority, which works with local economic development agencies to bring new projects to
Commercial real estate lending at FDIC-insured institutions is facing mounting challenges, with delinquencies and losses climbing to levels not seen in over a decade, according to a new analysis by CRED iQ. The report, which examines first-quarter 2025 performance against long-term trends dating back to March 2007, reveals a market grappling with both rising risk and signs
Following an unprecedented streak of record-setting years, Arizona’s job creation record in 2025 reached new heights. In the 12-month Fiscal Year 2025 (FY25) that ended June 30, the Arizona Commerce Authority (ACA) and local economic development agencies worked with companies that committed to creating a projected 24,285 new jobs in Arizona with an average
Metro Phoenix is losing its luster with renters, thanks to higher housing costs, slowing job growth and worsening air quality. The Valley slipped to No. 94 on a list of best U.S. cities for renters, according to Yardi’s RentCafe research just released for April. Last year, the Phoenix area ranked No. 72 on the list. “When looking for the best cities for renters in 2025, there are several
A 565-acre mixed-use industrial development near the Goodyear Airport will include 63 acres of new retail and restaurants, the developer announced. The first retailer, a Quik Trip Travel Center, will be on about five acres of land and will begin construction by the end of the year. The retail project, called Estrella Gateway, is part of the Goodyear AirPark development, which is primarily industrial, near MC 85 and Estrella Parkway. It is being developed by Lincoln
With nearly half the year gone, there have been almost 6,000 announced U.S. store closings, far surpassing openings in terms of number and square footage and driven by retail bankruptcies. Coresight Research this week said it’s tracking 5,822 store closings as of June 27, representing an estimated 123.7 million square feet of retail space. That’s outpacing the 3,960 announced store openings, totaling 74.5 million square feet, during the same
LaPour Partners and Holualoa Companies broke ground on AC/Element CityNorth, a new $92 million dual-branded hotel located in the CityNorth, a premier mixed-use development adjacent to Desert Ridge Marketplace in North Phoenix. Adjacent to the new Sprouts Headquarters, this eight-story hotel will bring together two distinctive Marriott brands under one roof — AC Hotel by Marriott and Element by Westin — 142 AC rooms and 98 Element suites
Phoenix-based developer George Oliver, in partnership with Ascentris, has launched plans for Arbor Old Town, a new luxury office redevelopment in the heart of Old Town Scottsdale. Spanning more than 360,000 square feet across three buildings and six acres at the prominent corner of Scottsdale and Indian School roads, the project will introduce the district’s first hospitality-driven campus, combining next-generation workplace design with high-touch
For more than sixteen years, the commercial real estate industry has waited for a resolution to the conservatorships of Fannie Mae and Freddie Mac. The question of when these government-sponsored enterprises will regain independence continues to loom large over the sector. While the timeline remains uncertain, two industry experts believe that recent legislative developments and mounting regulatory momentum could bring the long-awaited end
It might not be a big hit with most Americans, but the “big, beautiful bill” that squeaked through the Senate Tuesday includes a number of perks the real estate industry has lobbied hard for. The budget reconciliation bill — which would extend tax cuts enacted in 2017 and cut spending on programs like Medicaid, among other things — is headed back to the House for final approval
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 old sites while
Location: Southwest corner of West Queen Creek Road and South Arizona Avenue in south Chandler. Description: Modera Chandler will be a garden-style community featuring 345 apartment homes and a modern farmhouse-style aesthetic. The complex will include seven three-story residential buildings and offer one-, two- and three-bedroom homes with private
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