The success of Chandler’s economy hinges on the presence of Intel, a company that creates the bulk of the city’s jobs and generates massive amounts of financial activity within Chandler’s borders. But how did the city become so dependent on Intel, and what does that relationship look like
Project financing includes a $78 million construction loan from Bank OZK. Toll Brothers Apartment Living has joined forces with Canyon Partners Real Estate once again, this time for the development of Navona, a 400-unit luxury community in Mesa, Ariz. Project financing includes a $78 million
Holiday shoppers will spend more this year amid solid wage and job growth but will be looking for deals and discounts to stretch their budgets. That’s according to the National Retail Federation’s annual holiday forecast which said that spending will grow between 3% and 4% this year
“Capital is on the sidelines” seems to be the ever-repeating mantra for commercial real estate. Putting a dollar figure on this, a recent estimate by Preqin said that approximately $200 billion is ready to deploy into CRE assets. But John Chang, Marcus & Millichap’s senior vice president, national director
Instead of slowing during the second half of the year as many economists had predicted, economic growth is accelerating. The Bureau of Economic Analysis reported last week that real gross domestic product grew by 4.9% annualized during the third quarter, easily beating expectations. For the Federal
ULI and PwC’s flagship report takes an in-depth look at what’s ahead. Here are the main takeaways. The commercial real estate industry is facing a post-pandemic era of higher interest rates, slower economic growth and the realization that hybrid work schedules are here to stay with wide-ranging
The central bank left rates alone in November. What comes next? The Federal Reserve left interest rates unchanged this month, a decision that had been widely anticipated. The Federal Funds Rate has been unchanged since July at a range of 5.25 percent to 5.5 percent. For the last two consecutive
Metro Phoenix’s ever-evolving lineup of restaurants continued to grow in October with the opening of a variety of new cafes, bakeries, bars and sit-down restaurants serving Italian, Mexican and Mediterranean cuisines. The dining scene is heating up in Gilbert, which gained four new restaurants
There are more hotel rooms under construction in Phoenix than just about anywhere else in the country. The Valley could increase its total hotel room count by roughly 20% in the next few years, according to data from real estate and hospitality industry tracker CoStar. Currently there are 26 hotels
The Federal Reserve announced Wednesday that it won’t raise the federal funds rate for now, keeping the base rate at 5.25% to 5.5%. Speaking at a press conference after the announcement, Federal Reserve Chair Jerome Powell left open the door to
The clean energy plan initiated when the Inflation Reduction Act (IRA) was signed into law nearly 15 months ago is turbocharging our clean energy economy and revitalizing communities across the country. Arizona is becoming a battery manufacturing powerhouse,
Two West Valley cities had the highest population growth in the country measured by percentage gains, from 2017 to 2022, according to a report by SmartAsset. The study, released earlier this month, examined 344 U.S. cities with a population of 100,000 or more in
Dominium will soon break ground on Estrella Springs and Suncrest Vista at Canyon Trails, two adjacent affordable communities totaling 657 units in Goodyear, Ariz. The latter will also be age-restricted. The 396-unit Estrella Springs and the 261-unit Suncrest Vista at Canyon Trails will
Despite a slight third-quarter rise, U.S. office leasing has settled into a pattern of fewer deals. And when those deals do occur, CoStar data shows, the agreements are for smaller spaces. That’s a stark contrast to the market prior to the onset of the pandemic in the
A legal dispute is ramping up as one of Phoenix’s most prominent office-to-apartment conversions barrels toward an auction sale. The future of One Camelback — an unfinished luxury development near the intersections of Central Ave. and Camelback Rd. — hangs in the balance as the project’s lender grapples with a
JLL announced today that Parklane Development Group and Miramar Industrial Partners have completed Southern Industrial Center, an award-winning, 1.2 million-square-foot, speculative Class A industrial project located at
The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, covering all nine U.S. census divisions, reported a 2.6% annual change in August, up from a 1.0% change in the previous month, S&P Dow Jones Indices said Tuesday. The 10-City Composite showed an increase of 3.0%, up from
In a few years, people could look back at 2023 as the first year of the true, new normal for the commercial office market. With most vestiges of the pandemic in the rear-view mirror, a normalization of the labor market and consistent leasing behavior signify what could be in store for the property type in
Biden administration turns to developers to help ease U.S. housing crisis The White House kicked off a multiagency push on Friday to help finance real-estate developers convert more office buildings in big cities emptied by the pandemic into affordable housing, taking aim at the nation’s housing crisis. The initiative
Rising consumer spending helped U.S. gross domestic product jump 4.9% on an annual basis in the third quarter, leading some analysts to downplay talk of an imminent recession even as some remained skeptical of whether such growth can be maintained in the long run. The Commerce Department’s
Grocery stores and fitness centers are helping drive the Valley’s retail real estate market to a point where it is the most competitive it has ever been. A newly released report on Phoenix’s retail market from the third quarter of 2023 by commercial real estate firm Avison Young, shows that the
Metro Phoenix’s housing market has likely peaked for the year. The Valley’s median home price dipped in September as interest rates climbed. Prices are poised to tick back up to around August’s level during October. But don’t expect a surge in home appreciation or sales during the rest of this year. Higher
The site of a once-popular Italian restaurant at the northwest corner of Power and Williams Field roads will soon be home to a mixed-used project with 628 apartment units. Town Council last week unanimously approved the minor General Plan amendment, rezone and annexation of 74.45 acres for the
The U.S. economy grew even faster than expected in the third quarter, CNBC reported Thursday. Growth was buoyed by a strong consumer in spite of higher interest rates, ongoing inflation pressures, and a variety of other domestic and global
The U.S. economy is standing tall despite the most aggressive rate-hiking campaign in a generation. Gross domestic product grew at an annual rate of 4.9% in the third quarter, the fastest in almost two years. All things considered, that’s pretty astonishing. More than