November 4, 2020

Target Corp.’s unique style is on full display in the 30 new stores it has opened this year, with safety a constant across all the locations. “We’ve built in the very latest in safety measures to these new locations, including hand sanitizer stations, plexiglass checkout shields and signage

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Apartment investment activity has accelerated in Tucson, Arizona, despite the ongoing pandemic. Multifamily sales volume through October has surpassed the total recorded during all of 2019.The market’s resilience and substantial rent gains

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Acoya Scottsdale at Troon, a 135-unit, luxury senior living community developed by a joint venture of Ryan Cos. US Inc., Cadence Living and Starwood Capital Group, has opened in Scottsdale, Ariz. The property offers assisted and independent living options

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Banner Health‘s newest hospital, Banner Ocotillo Medical Center, will open at 8 a.m. Nov. 2, making it the first new Banner hospital since 2010, when Banner Ironwood Medical Center opened in Queen Creek. Starting with 124 patient beds, Banner Ocotillo is designed

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One of the Valley’s most prominent restaurateurs was able to break records when opening a new restaurant in mid-October. The latest location of Sam Fox’s Culinary Dropout opened in the Scottsdale Quarter shopping center. Fox Restaurant

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November 3, 2020

The retail sector has been hard hit by the recession, but Phoenix is pulling through. The market had positive net absorption in the third quarter, driven largely by activity from big-box retailers. According to a report from Colliers International, Phoenix posted 101,270 square feet

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Demand for apartments in more affordable Sun Belt cities is rising while asking rents in pricey coastal cities are falling as the pandemic roils the country’s apartment markets. To get a better sense of what’s driving both the best and worst metropolitan areas for rent growth, CoStar Analytics analyzed the top

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Seven companies promising to create 5,195 new jobs in the state were awarded incentive grants from the Arizona Competes Fund in the 2020 fiscal year, according to the annual report released by the Arizona Commerce Authority, which oversees the fund. The grants awarded in the fiscal

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Real estate investors are starting to feel a little bit better about things. While there has been little change in mood among occupiers over the third quarter, investor sentiment is slightly less negative than the previous quarter, according to the RICS’ Global Commercial Property

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Thayer Manca Residential (TMR) has acquired Entrada Apartments, a 424-unit community in Tucson, Ariz. for $65.5 million. The transaction marks the multifamily investment firm’s largest purchase to date and its second in the metro area. According to Yardi Matrix data, MG Properties Group bought the asset

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November 2, 2020

Each year, millions of Americans relocate to somewhere else in the country, whether it is for retirement, college, or a new job. Yet 2020 offered some Americans a new reason to move – the COVID-19 pandemic, which was declared a national emergency in mid-March. Many people moved

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The developer behind Block 23 and CityScape in downtown Phoenix is planning the redevelopment of the Macayo’s Depot Cantina in Tempe, to include two towers and what may be the first Valley building to act as a bridge over light rail tracks. Phoenix-based Red Development is planning

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Most executives surveyed by CPE believe that the election will have a positive impact on government programs aimed at providing relief to struggling businesses, the latest CPE 100 Sentiment Survey has found. Sixty percent of executives expect the government to take additional steps

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Replay Destinations announced today that it has acquired real estate development parcels at The Phoenician, a Luxury Collection Resort in Scottsdale, Arizona. The planned private residential community will sit at the foot of Camelback Mountain, overlooking the Phoenician Golf Club. Known as Ascent at The Phoenician

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It’s the first week in November, and of course we’re writing about what everyone is talking about. The third quarter gross domestic product print. We had hoped this would finally be the quarter that would break the media’s awful habit of reporting GDP as a quarter-over-quarter annualized

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October 30, 2020

When it comes to office space suited for technology companies, both in the Valley and compared to most submarkets nationwide, Tempe remains king. The city just east of Phoenix ranked fourth among submarkets nationwide for net absorption growth between the second quarter

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The first global report to look at the impact of the Future of Work on real estate and cities over the next three to five years foresees a strong focus on flexibility, demanded by both workers and corporates, not only relating to the work activity but also the space and location

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Sky Plus Hotels, an affiliate of SkyBridge Arizona, today announced the development of a new dual brand Wingate/Hawthorn Suites hotel at Phoenix-Mesa Gateway Airport, located on Sossaman in proximity to terminal operations. Located on the airport grounds and near ASU’s Polytechnic

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Starbucks Corp. reported better-than-expected fourth-quarter earnings results and same-store sales as customers start to return to its cafes faster than expected. But the pandemic still took a big bite out of sales. The coffee giant said it lost $1.2 billion in sales during the fourth

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Gen Zers are finally starting to break into the housing market. According to TransUnion, Gen Z mortgage originations jumped 84% at the end of last year, and if recent survey data from Freddie Mac rings true, those numbers should grow substantially over the coming years

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October 29, 2020

The tech industry’s share of U.S. office-leasing activity in this year’s first half inched down to 20 percent from 21 percent last year, as tech employment has proven resilient during the pandemic, according to CBRE’s annual Tech-30 report. Phoenix scored well in most categories in the report, as office-rent

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Miami-based The Related Group, one of the country’s largest real estate conglomerates, is making its Phoenix debut, with plans to invest $500 million here in new projects. The developer is breaking ground this week on a 286-unit luxury apartment community on a 6.5-acre parcel at 13320 N. Scottsdale

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Andy Ogan, a 20-year brokerage veteran who has risen through the ranks of the commercial real estate industry recently launched Unbound Development, a newly formed development company centered around industrial, healthcare, office and retail build-to-suit opportunities in Arizona. Ogan’s new firm

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A Texas-based hospital group is making a strong entry into the Arizona marketplace, with a critically needed community hospital coming to Maricopa and other hospitals opening across Arizona in the near future. Exceptional Healthcare is entering Arizona with its first facility in the City of Maricopa

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PHOENIX – Arizona Gov. Doug Ducey has allocated $7 million from the state’s emergency fund to help renters and property owners struggling financially during the COVID-19 pandemic. The distribution includes $5 million to replenish the state’s Rental Property Owner Preservation Fund, which, according

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