March 11, 2021

Congress approved a new $1.9 trillion stimulus package Wednesday to help carry the nation through the final stage of the pandemic. Out of that, Arizona expects to receive about $12 billion for aid to businesses, schools, families and others still struggling from pandemic shutdowns

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March 9, 2021

While multifamily deal activity hit a pause at the start of the pandemic, transaction volume started to pick back up by the third quarter of 2020 and is expected to see a boost in 2021. According to Newmark’s “Multifamily Capital Markets Report,” multifamily investment sales volume saw

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E-commerce retail sales helped to drive and stabilize retail activity in 2020, with the online shopping market experiencing a decade worth of growth in just a few months, according to research from Moody’s Analytics. Sales hit a peak in the second quarter, waning by the end of the year

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The $35-million renovation of Mountain View High School is set to begin this spring and by the time it’s done, more than 3,500 students and staff may feel like they’re on a brand-new campus. “We are touching all of Mountain View High School,” Architect Neil Pieratt of SPS+ Architects

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New data released by the U.S. Census Bureau and the Department of Housing and Urban Development shows a dip in new privately owned home construction this January. The seasonally adjusted annual rate of housing construction starts fell to 1.58 million units, down 6% from

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The pandemic has catalyzed tremendous change. In the office sector, those changes are still evolving, but at this point, many are predicting the industry will adopt a hybrid work model with a mash-up of in-office and remote work and more reliance on regional office space. The change

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Food and e-commerce were among the bright spots as Costco Wholesale Corp. posted double-digit sales gains for February and its fiscal 2021 second quarter. Quarterly earnings missed Wall Street’s projections, however, as Costco recorded significant COVID-19 costs, mainly from

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Governor Doug Ducey today announced the next phase of COVID-19 mitigation, including lifting occupancy limits but keeping distancing and mask protocols in place. With cases dropping in Arizona, and vaccine distribution underway, Ducey said it’s still important to keep our guard up

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Picture a baseball game at Chase Field. Or a basketball game at Suns Arena. As more fans begin returning to sporting events after the Covid-19 pandemic, they are welcomed by the benefits of live competition, from ballpark hot dogs to the energy of a packed stadium. In the near future

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On a pleasant Saturday afternoon during what experts call the tail end of the pandemic, downtown Mesa shows signs of vibrancy. The “restaurant row” strip of Main Street between Center and Robson is percolating, with locals hitting the coffee shops or having lunch-and-drinks at places

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Goodyear 10 & 303 LLC acquired 138.96 acres of land in Goodyear for $16,500,000, according to the commercial real estate tracking website Vizzda. The seller was Roles Inn of America. The seller brokers were John Finnegan and Ramey Peru of Colliers International. The sale price

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March 8, 2021

On a pleasant Saturday afternoon during what experts call the tail end of the pandemic, downtown Mesa shows signs of vibrancy. The “restaurant row” strip of Main Street between Center and Robson is percolating, with locals hitting the coffee shops or having lunch-and-drinks at places like Mangos, Tacos Chiwas

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Five recent land deals in Buckeye brought in more than $15 million total, according to the commercial real estate tracking website Vizzda. Here are five Buckeye land deals that closed recently:• The Kemper & Ethel Marley Foundation bought 138 acres at the northwest corner of Turner Road and Southern

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The US economy showed its clearest sign yet of recovery with February’s unemployment report released this morning by the Bureau of Labor Statistics: Some 379,000 jobs were added to US payrolls last month, led by the leisure and hospitality sectors. To be sure, the jobs market is nowhere near its pre-pandemic

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Developer Trammell Crow and partner Clarion Partners plan to break ground next month on a warehouse project that includes almost 5 acres earmarked for retail development in the Tolleson suburb west of Phoenix. The project known as Tolleson 107 Logistics Center is designed to include a 332,075-square-foot

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Arizona is 100% open for business. Gov. Doug Ducey announced in a series of tweets on Friday that all businesses, including restaurants, bars, gyms, movie theaters and water parks can immediately open at 100% capacity. Social distancing and mask requirements will be enforced, he

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March 5, 2021

The US economy showed its clearest sign yet of recovery with February’s unemployment report released this morning by the Bureau of Labor Statistics: Some 379,000 jobs were added to US payrolls last month, led by the leisure and hospitality sectors. To be sure, the jobs market is nowhere near its

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Arizona’s homegrown Spencer’s TV & Appliance will soon relocate its corporate headquarters to a rapidly developing corridor linking the Phoenix area’s East and West Valley. Spencer’s is scheduled to move from its current base in Tempe to a new 318,000-square-foot warehouse off the

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Governor Doug Ducey today announced the next phase of COVID-19 mitigation, including lifting occupancy limits but keeping distancing and mask protocols in place. With cases dropping in Arizona, and vaccine distribution underway, Ducey said it’s still important to keep our guard up, and these

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JLL Income Property Trust, an institutionally managed daily NAV REIT (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX) with more than $3.5 billion in portfolio assets and 85 properties, today announced the acquisition of Southeast Phoenix Distribution Center, a newly constructed, four-building, Class A

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It has been tough times for many during the ongoing COVID-19 pandemic, but when compared to the rest of the country, the local economy, along with Arizona’s economy, is doing extremely well, as many businesses are opening up and hiring. According to The Economist, Phoenix will rank

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March 4, 2021

Arizona State University often touts its annual U.S. World News rating as the number 1 university in the world for “innovation.” But what does that really mean? How does this concept fit into Arizona’s economic outlook? Michael Porter, a Harvard professor who has dedicated his career to

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9.8 acres of commercially zoned land located at the SWC of Litchfield Road and Sweetwater Avenue in Surprise traded recently for $1,113,306 or $2.61 per square foot, plus $0.48 per square foot additional to pay to Surprise at the time of development for road improvements

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YAM Properties, the Scottsdale-based real estate investment and development group of businessman Bob Parsons, has welcomed more than 30 new tenants across various commercial properties during the past few months. The new occupants include restaurant, entertainment and corporate tenants

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Phoenix topped the list of cities across the nation with the most eviction filings during the coronavirus pandemic, according to a new study by the United Way. The report, conducted by the Eviction Lab at Princeton University, shows Phoenix had 16,685 eviction filings in the past

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