March 25, 2021

Multifamily rents fell by 0.1% year over year in February 2021, up 10 basis points from last month’s 0.2% YOY decline, according to Yardi Matrix’s latest Multifamily National Report. Despite ongoing negative growth, year-over-year rents in the national report have trended

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March 24, 2021

Conor Commercial Real Estate and joint venture partner WHI Real Estate Partners have sold the first phase of Lotus Project to a Chicago-based investment advisor. The newly built industrial park in Chandler, Arizona, includes four state-of-the-art advanced manufacturing and light

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Surf’s up Mesa! A 37-acre surf, shop, gym and multi-use development project is set to break ground on Tuesday, March 30 at 11 a.m. The surf oasis is being made possible by Cannon Beach Developers and is located at the cross streets of Power and Warner roads in

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Freddie Mac’s Apartment Investment Market Index (AIMI) increased by 0.5% in the fourth quarter of 2020 after a rebound, 1.9%, in the third quarter. The AIMI combines multifamily rental income growth, property price growth, and mortgage rates to provide a single index

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Shoppers are ramping up their Easter spending this year amid new stimulus checks and positive trends in vaccinations and consumer confidence. Consumers plan to spend an average of $179.70 this Easter, the highest figure on record, according an annual survey by the

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A new study by sleep and wellness publication eachnight has revealed the most affordable U.S. cities for single professionals to buy a one-bedroom home, and Tucson is No. 2 among most affordable cities for single professionals. The share of U.S. homeowners who

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March 23, 2021

Intel announced on Tuesday that it will spend $20 billion to build two new chip factories, called fabs, in Ocotillo, Arizona. Intel stock rose as much as 5% on the news in extended trading on Tuesday. The announcement, coinciding with new CEO Pat Gelsinger’s first public

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According to a report by industry analyst Blast Point, 345,000 electric vehicles were sold nationally during pandemic dominated 2020, – up 40 percent from 2019 with Tesla, Nissan and Audi as top sellers leading the way. ElectraMeccanica just invited itself to the electric vehicle

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E-commerce giant Amazon.com is building two new sortation centers in Arizona, one in Glendale and one in Tucson, which will each total more than 270,000 square feet. “Every day at Amazon, incredible employees come together to deliver magical experiences for

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A proposed $15,000 federal tax credit for homebuyers could be enough to help almost one-third of metro Phoenix renters afford a house of their own. A new analysis says the first-time homebuyer credit, currently proposed by President Biden and other lawmakers, would

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The housing market is looking extremely strong for the Phoenix area in 2021. Realtor.com’s most recent forecast predicts home sales in the Valley will jump 11.4% over last year’s levels, which is more than the national average. The combination of beautiful weather, prestigious restaurants

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March 22, 2021

Those who complain “there’s nothing to do in southeast Mesa” should take note of the 330-acre Legacy Sports Entertainment Park – and prepare for a major change to that sleep scene starting this fall. Big enough for youth sports and soccer tournaments? Check, dozens of

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Shoppers are out for vengeance. A year into a pandemic that’s devastated lives, jobs and the economy, those who are lucky enough to have disposable income are ready to go out and splurge — even if they still have nowhere to go in that stunning dress or those brand new sneakers. Some

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For the first time in years, retailers across the country are planning to open more stores than they are closing. From Ulta Beauty and Sephora to Dick’s Sporting Goods, Five Below and TJ Maxx, businesses are rebounding from the Covid pandemic and dusting off expansion plans that

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In a 180-degree turn from 2020, retailers’ expansion plans are outpacing plans to close up shop so far this year. U.S. retailers have announced 3,199 store openings and 2,548 closures year-to-date, according to a tracking by Coresight Research. For comparison, the firm

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The drive along the 36-mile length of the Loop 303 freeway in the West Valley takes well under an hour. The trip goes fast, but not quite as fast as the land along the 303 is being gobbled up by developers and filled with massive manufacturing and logistics facilities. “Developers from

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March 19, 2021

After closing January with $137 million in office sales, Phoenix’s transaction activity lost some steam in February. According to CommercialEdge data, 438,968 square feet of office space traded across the metro for $108 million. The sales amount was 26.4 percent higher year-over-year,

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Retail rent collections are steadily improving. In February, rent collections surpassed 90% among national retailers for the first time since March 2020, when the pandemic began, according to research from Datex Property Solutions. In the same month last year, national retailers paid

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Demand for data center space has outpaced supply in the Phoenix area, but data center companies have plans to eventually add another 250 megawatts, which would nearly double the Valley’s current supply. In total, the Valley has an inventory of 326.7 megawatts of data center space,

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QuoteWizard, a LendingTree company, and one of the nation’s leading online insurance marketplaces released a new report finding that the ongoing  COVID-19 pandemic has had a significant impact on the cost of rent nationwide. Arizona ranked No. 3 among states for increasing rent,

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An entity formed by California-based NNC Apartment Ventures LLC has acquired a 222-unit, mixed-use, luxury multifamily community in Flagstaff, AZ for $64.5 million. The property was sold by an entity formed by the Missouri-based VanTrust Real Estate LLC.Located at 601 E. Piccadilly Dr., the

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March 18, 2021

For the first time in years, retailers across the country are planning to open more stores than they are closing. From Ulta Beauty and Sephora to Dick’s Sporting Goods, Five Below and TJ Maxx, businesses are rebounding from the Covid pandemic and dusting off expansion plans that

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MESA, Ariz. – The electric vehicle industry in Arizona revved up on March 16 as a new car manufacturer announced it is moving to Mesa after a nationwide search. On Ray Road, just north of the Phoenix-Mesa Gateway Airport, up to 500 jobs will soon fill a factory, but it could mean so

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Officials at Taiwan Semiconductor Manufacturing Co. said they expect the company’s massive new north-Phoenix plant will attract suppliers and possibly customers as the Valley’s technology hub continues to expand. The company has started to hire engineers for the $12 billion

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Scottsdale Quarter is adding several more stores to its ever-expanding elite lineup of tenants. Sanderson Lincoln opened a new boutique earlier this year on 73rd Place and TopComp Homes and Beard Papa’s have recently opened on the South Street corridor. Slated to open in Spring

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