October 26, 2021

McCarthy Building Cos.’ Renewable Energy and Storage Group recently completed a 200-megawatt solar project in the West Valley.The project, called Sun Streams 2, is situated on more than 1,000 acres in Arlington, a small area just southwest of

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October 25, 2021

JE Dunn Construction and Lincoln Ventures, an Austin-based student housing and national multifamily developer, announce breaking ground on 811 N. 3rd Street, a 24-story, 326-unit multifamily development located in the heart of the arts district in Downtown Phoenix.The

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Howard Hughes Corp. and Jerry Colangelo are planning to deliver a massive new masterplan community in Phoenix. The duo have unveiled plans for Douglas Ranch, a 37,000-acre community with 100,000 homes housing 300,000 residents and 55 million square feet of

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While national companies and larger office users have mostly slowed plans to lease office space, smaller tenants seeking space in Phoenix will still likely face competition.Laurel Lewis, senior vice president at NAI Horizon, said lease rates have continued to

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Vermaland, a leading Phoenix-based land banking and development company, is developing Verma Vistas III, an 1100-acre master plan community located in Tonopah, Ariz. Properties of this size are very difficult to come by, so this makes the

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After a short lull in hotel investment activity, the preliminary total sales volume for the third quarter reached $13.4 billion, almost matching the highest third-quarter sales volume ever, $13.9 billion in 2016. Investor sentiment is favoring the sector again after a

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October 24, 2021

This year, inflation has become a top concern for investors. Institutional capital and major funds are planning ahead by shifting from a value-add or short-term hold investment strategy to a long-term hold business model. “On a short-term hold, it is very difficult to

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Nearly 50 million workers switched last year from an office environment to work-from-home (WFH), allowing large parts of the U.S. economy to continue functioning despite social distancing requirements during the pandemic. As other sectors began to recover from the shutdowns last year, however, large

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Another massive data center and the continent’s largest sports and entertainment complex are among the defining developments taking shape in the Valley’s second-largest city, which has become a draw for major industrial development and redevelopment efforts. The city of Mesa has focused its economic

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Happy Joe’s Pizza and Ice Cream, a long-running Midwest chain, wants to try its hand in Arizona again, but the CEO said it is struggling to find the right real estate. “We know people will eat the product, but we can’t find a place to put it,” said Tom Sacco, the CEO of Happy Joe’s. “From what we experienced, there

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Desert Troon Companies recently refinanced Superstition Gateway, a destination shopping center in Mesa, AZ, with fixed-rate CMBS financing of $77.1 million. Consisting of 25 single-story buildings across Superstition Gateway East and Superstition Gateway West, the retail development features

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October 21, 2021

Sales of commercial real estate assets in the US hit record-breaking highs in the third quarter, thanks largely to activity in the apartment and industrial sectors.Real Capital Analytics’ latest US Capital Trends report shows that deal volume hit $450 billion in the first

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National office transaction volume is on pace to eclipse the total from 2020, but fall short of pre-pandemic levels from the latter part of the last decade, according to CommercialEdge.The San Francisco Bay area, Boston, Seattle, Austin and Atlanta have impacted this year’s

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The Gila River Indian Community broke ground on its fourth casino, a $150 million facility on 160 acres of tribal land south of Chandler, Arizona. The tribe’s hospitality arm, Gila River Hotels & Casinos, expects to finish the project, called Santan Mountain and slated to

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The vast majority of businesses that temporarily closed during the COVID-19 pandemic have reopened, according to a new Yelp report.Eighty-five percent of the businesses that shuttered from March 2020 through the third quarter are up and running, Yelp said,

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Whether it’s for an economic opportunity or the need to find a better-suited home, moving is a common occurrence in America. And, while most people who move house tend to stay within the same general area, metro-to-metro migration trends produce noticeable

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October 20, 2021

Demand for single-family rental homes is showing no sign of easing up, and that is pushing rents through the roof, especially for the highest-priced properties.As a result, investors are now flooding into the market again, after falling back

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A joint venture between the Los Angeles Dodgers and Chicago White Sox called Camelback Spring Training LLC is seeking proposals to develop 53 acres next to the Camelback Ranch – Glendale baseball facility. The developer request

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The sentiment for the commercial real estate industry in the U.S. has risen to pre-pandemic levels, according to NAIOP. The Sentiment Index rose to 56 in the organization’s fall 2021 report, up from 54 earlier in spring.The organization’s

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With three-quarters of the year complete, 2021 is mirroring seasonal norms, unlike 2020, but maintaining strong momentum. September home sales dropped 7.0% from August’s total, Median Sales Price slipped 1.1% to $329,000 – both far less than

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Decades ago, the famous baseball player Yogi Berra, known for his paradoxical utterings, explained why he no longer went to a famous restaurant this way: “Nobody goes there anymore; it’s too crowded.” You could make the same

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October 19, 2021

After slowing its commercial real estate loan growth during the COVID-19 outbreak, JPMorgan Chase is ready to scale back up.The nation’s largest bank holding company, with $3.2 trillion in assets, is seeing commercial real estate loan growth,

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The Howard Hughes Corp. (NYSE: HHC) has plopped down $600 million for the proposed 37,000-acre Douglas Ranch master-planned community in Buckeye.The proposed development — 35 miles from downtown Phoenix on the west side of the

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The Greater Phoenix industrial real estate market set several records during third quarter, according to a report released by Colliers in Arizona.  The city’s booming industrial sector posted its highest net absorption, lowest vacancy and

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The multifamily market has rebounded as swiftly has is stalled last year, but for industry experts the market enthusiasm is no surprise. Multifamily benefits from a renting culture that has driven apartment investment for the last decade—but

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