The US retail import sector has demonstrated consistent growth over the past two decades, with recent data showing an upward trend in the import of goods into the country. According to the latest report from the National Retail Federation (NRF) and Hackett Associates, released on 9 April 2025, import volumes, measured in twenty-foot
Sam’s Club plans to open about 15 new stores annually in the coming years while remodeling all of its roughly 600 locations across the U.S., company CEO Chris Nicholas said at an investor day Wednesday. The Walmart-owned retailer aims to double its membership over the next eight to 10 years with the boost from the new locations, Nicholas
After a period of stagnation, the commercial real estate market is showing signs of life, with February sales surging 30% year-over-year and distress rates for CMBS loans declining for the second consecutive month. This thawing was highlighted in a recent report by Moody’s and stems from a confluence of factors: an improving economic environment, lower interest rates, renewed investor confidence
Several leading apartment companies plan to buy, sell, or start to build more apartments in 2025 than they have in years—with many planning to do all three. Many believe the time is finally right to commit to plans they have delayed for years. As 2025 begins, new renters had signed leases at hundreds of thousands of new apartments. A strong U.S. economy has avoided recession
Arizona real GDP rose by 3.3% at a seasonally-adjusted annual rate over the quarter in the last quarter of 2024. That was well above the U.S. at 2.4% and ranked Arizona 11th in the nation (excluding the District of Columbia). State gains were powered by real estate and rental and leasing; health care and social assistance; professional, scientific, and technical services; finance and insurance; and state
Aardex LLC is wasting little time in its effort to restore a more than 100-year-old downtown Phoenix building and redevelop the block it sits on. The Denver-based real estate development firm will begin renovations later this month on the historic Gilbert-Pratt building after Phoenix City Council approved its development agreement on April 9, Aardex Principal Caleb Hebel told the Business Journal
Along Main Street in downtown Mesa, a half-constructed multi-family project dubbed The GRID that has sat untouched for nearly a year. But that is all expected to change soon. The City Council approved a non-binding agreement on April 7 with SolTrust Residential REIT to take over the project from its previous developer, which filed for bankruptcy in the U.S. District Court of Arizona in 2024
LightBox, a leading provider of commercial real estate data and technology, said its CRE Activity Index rose sharply to 104.4 in March, marking the highest level since June 2022 and only the second triple-digit reading in nearly three years. The 4.7% month-over-month and 25.2% year-over-year gains point to growing
Despite economic uncertainty, multifamily performance has maintained its strength at the start of spring selling season. The average U.S. asking rent increased $5 to $1,755 in March and by 0.4% for the first quarter, according to the latest Yardi Matrix National Multifamily Report. Year-over-year asking rent growth fell
Phoenix’s industrial market continued to thrive in 2024, maintaining its status as the nation’s most active construction market since the end of 2023. The city’s development pipeline, although reduced from 42.5 million square feet to 22.4 million square feet at the end of December, still showcased a robust industrial
At the start of 2025, the Midwest emerged as the most competitive region for apartment-hunters with 10 metros in the top 20. In particular, Suburban Chicago (ranked second in the U.S.) has positioned itself as a close rival to the number one, Miami, which — despite Florida’s market cooling throughout the past year — continues
A 35-acre mixed-use project is taking shape in Gilbert, likely anchored by a Safeway grocery store. Thompson Thrift’s latest project, called The Gilmore, intends to break ground on April 30, nearly a year-and-half after the final plat was approved by Gilbert City Council in 2023. The Gilmore’s 40.6 acres will include 213,656
At the rate things are going, Old Town may need a new name. Anyone for New Town? Granted, that might not land well in “The West’s Most Western Town.” Even so, while Mayor Lisa Borowsky continues a thus-far losing battle over an Old Town parking garage she calls “a monstrosity,” multiple projects that could collectively transform the area loom large. The projects range
A new home community that will sprout 1,435 houses in San Tan Valley is underway. Tri Pointe Homes is building the community, called Soleo, on 252 acres at Combs and Kenworthy roads. Prices for the first phase of houses will start in the mid-$400,000s. Tri Pointe Homes Arizona Division President James Attwood said Soleo will support Pinal County’s “impressive growth”
Taylor Morrison Home Corp. (NYSE: TMHC) just plopped down $32.2 million in cash for a 156-acre parcel near Taiwan Semiconductor Manufacturing Co.’s $165 plant being developed in north Phoenix. The Scottsdale-based homebuilder bought the property from MacEwen Ranch LLC in care of Sunbelt Holdings, paying $205,869.19 per acre, according to
Relations between the United States and Canada, historically marked by close economic ties and mutual cooperation, are showing signs of strain, raising concerns about their impact on one of the most lucrative pipelines of foreign investment into U.S. commercial real estate. According to a report by Business Insider, Canadian investors, who have been the largest foreign buyers
Nonfarm payrolls for March beat estimates with 228,000 jobs added, according to data published by the Bureau of Labor Statistics, versus the estimate of 140,000. The unemployment rate ticked up to 4.2%, a three-year high, from 4.1%. Employers added 117,000 in February, which was revised from 151,000. Average hourly earnings increased by 0.3% in March, aligning with both the
Apartment rents across the United States are expected to accelerate at a quicker clip in the second quarter as demand remains solid and the number of units completed continues to slow. Nationally, year-over-year multifamily asking rents grew 1.1% this year through March, according to a report from Apartments.com, owned by CoStar Group
Apartment demand during the first quarter was well ahead of average, boosting sector fundamentals back into a more normal range, according to a RealPage analysis. The report noted that the recent generational apartment supply wave began to ebb slightly during the first quarter, which indicates that the impact of high supply will start
Fresh data from Colliers and MSCI reveals a positive February for commercial real estate sales, with overall volume up 30% year-over-year at $24.4 billion. Year-over-year price changes for office, industrial, retail, and multifamily (leaving out hospitality) were up 1%. On volume growth, every category was positive except industrial, which was flat at $5 billion
The Trump administration’s sweeping tariffs threaten to increase costs for building data centers needed to support artificial intelligence, a move some technology and real estate industry analysts said could disrupt a surge in development. A 25% tariff on steel and aluminum — materials used in these digital hubs — took
Arizona job growth was down over the year in January and February, according to an analysis. Arizona added 4,300 seasonally-adjusted jobs over the month in February, up from a revised increase of 1,700 in January. The preliminary estimate for January was an increase of 7,400. The state seasonally-adjusted unemployment rate
Glendale City Manager Kevin Phelps would like to see the $1.2 billion VAI Resort and Mattel Adventure Park welcome guests before he leaves the city in 2026 for his next career move. The hospitality project, which kicked off construction in 2021 in Glendale’s sports and entertainment district, is the single project Phelps said he’s
Still going strong, the Arizona economy added large numbers of new jobs and residents last year. Nominal taxable retail plus remote sales expanded slowly, while personal income growth decelerated. Single-family permits increased significantly but housing affordability remained low. The labor market remains very tight
The new owner of Big Lots is relaunching the chain it rescued, starting to reopen the more than 200 stores it acquired as part of the retailer’s bankruptcy. Henderson, North Carolina-based Variety Wholesalers plans to kick off the first wave of openings of its newly purchased Big Lots locations Thursday with nine stores across six