Blackstone Group, touted as the world’s largest real estate investor, remains bullish on retail property despite an uncertain economic outlook for the last half of the year. Stephanie McGowan, a managing director at the private-equity firm, was asked if her company
McBride Cohen Co., Cantor Fitzgerald and Silverstein Propertieshave closed on a $233 million construction loan for the development of the first phase of South Pier at Tempe Town Lake, a large mixed-use master-planned development in Tempe, Ariz., in the Phoenix area. Funding
At the outset of the pandemic, out-of-home entertainment attendance came to a screeching halt, Placer.ai says in a new white paper. Now, more than three years later, movies, restaurants and casinos are welcoming patrons once again. That being said, in comparing 2023 to pre-pandemic
PHOENIX — Six tenants are coming to the PV development at the Paradise Valley Mall site that is slated to open next year. Two Fox Restaurant Concepts eateries, Blanco Cocina + Cantina and Flower Child, will join the lineup at the location near Tatum Boulevard
Arizona and six other Southwest states that rely on water from the Colorado River have agreed to a new usage proposal, the Biden administration announced Monday. Arizona, Colorado, California, Nevada, New Mexico, Utah and Wyoming have submitted the plan to the
From the outside, a Metro Phoenix data center looks like a large, nondescript concrete structure not that different from other industrial buildings. But inside, racks of servers hum along as they provide the infrastructural backbone for the U.S. knowledge economy — one that is
How much money will shoppers save at the cash register if Kroger and Albertsons win regulatory approval to merge? Likely knowing how controversial their proposed mega-deal might be, Kroger executives from the start stressed the takeover will save consumers
PHOENIX (AP) — Alondra Ruiz Vazquez and her husband were comfortable in Periwinkle Mobile Home Park for a decade, feeling lucky to own their mobile home and pay about $450 a month for their lot in a city with spiraling rents. But now they and dozens of other families have
With Tempe residents rejecting a multibillion entertainment district that would have created the new home of the Arizona Coyotes, questions on the NHL team’s future in Arizona are mounting. The Coyotes had zeroed in on a 46-acre site on the northeast corner of Priest Drive and
For potential residents, this project is literally through the roof – with rooftop shade trees, running tracks, swimming pools and stunning views of the surrounding mountains. But on the checklist of things current Scottsdale residents go through
Laura Briscoe’s granola-making operation was experiencing rapid growth in 2018 and she soon found herself needing a larger building in Tempe to operate the business. With the help of a broker, Briscoe in 2019 leased a 3,500-square-foot production, packaging
A Tucson-based developer has major plans for the former Foothills Mall, which has begun demolition near Ina Road and La Cholla Boulevard in the northern part of Tucson. The Bourn Cos. had owned the mall in the early 1990s and at the time revamped it
Attracted by the industry’s resiliency and long-term growth potential, real estate companies continue to expand into the industrial sector, despite the recent downtick in demand and investment activity. By diversifying their portfolios and tapping into
As the dust settles from a traditionally busy spring in the Phoenix area, made busier by Super Bowl LVII, the beginning of what could be a buzz-worthy shift in the local market is starting to emerge. The short-term rental market in Phoenix is primed for a significant shift as
The University of Phoenix, which once boasted hundreds of thousands of students and generated billions of dollars in revenue, is on track for a $550 million purchase by a not-for-profit entity created by the University of Idaho. The Idaho State Board of Education voted in
Federal Reserve Chair Jerome Powell said Friday that stresses in the banking sector could mean that interest rates won’t have to be as high to control inflation. Speaking at a monetary conference in Washington, D.C., the central bank leader noted that Fed initiatives used to deal with
Although higher rent burdens dropped from 49 metros down to five in the first quarter of 2023, many metros still sit above 30% of income being spent on rent. According to Moody’s Analytics’ U.S. State of Rent Burden report, there was a 91% drop from Q4 2022 to Q1 2023 in the
With Tempe residents rejecting a multibillion entertainment district that would have created the new home of the Arizona Coyotes, questions on the NHL team’s future in Arizona are mounting. The Coyotes had zeroed in on a 46-acre site on the northeast corner of Priest Drive
Wish You Were Here Group, the renowned, multi-concept hospitality company focused on creating unforgettable dining experiences inspired by global travel, and Macerich, one of the nation’s leading owners, operators and developers of one-of-a-kind retail and mixed-use properties in
The number of construction cranes rising above downtown Phoenix may have increased shade in the area, but it hasn’t put the top executives of the area’s biggest construction firms at ease. While we assembled the annual Business Journal’s Commercial Building
The Valley was one of only two markets in the nation where monthly rents have declined for single-family homes, according to a new report. The Phoenix and Las Vegas metros both showed a decline in monthly rents of single-family homes, each reporting a March drop of -0.2% on the
Rehrig Pacific has broken ground on an injection molding manufacturing plant in metro Phoenix. The facility, located in Buckeye, Ariz., is expected to open in late April 2024. A 260,000-square-foot building will be constructed in the project’s first phase. The site has
Commercial and multifamily mortgage loan originations were 56% lower in the first quarter compared with the same period in 2022, according to the Mortgage Bankers Association (MBA). Originations also decreased 42% from the fourth quarter. For multifamily properties alone, originations
May 17 (Reuters) – Many U.S. regional lenders may have to consider selling off commercial real estate (CRE) loans at a steep discount after breaching key regulatory thresholds for exposure to the troubled sector, according to new data and market sources. Regional banks, the largest
Q1 2023 has had its share of economic-related news, from bank failures to continued increases in the Effective Federal Fund Rates (EFFR). During the May 10, 2023 edition of the Walker Webcast, Walker & Dunlop Chairman and CEO Willy Walker hosted a panel of experts who discussed the roller-coaster economic