A master developer of Phoenix-Mesa Gateway Airport land moved forward on a new industrial park. That developer, SkyBridge Arizona, broke ground on the first of two new buildings on Feb. 21, which will become a 250,000-square-foot class
A crucial water source in the American West, the Colorado River, is drying up at a startling rate. The Biden administration has committed an unprecedented $728M to the problem, and the seven states that rely on the river’s supply have been
Several retail and restaurant tenants at Epicenter, a much-anticipated mixed-use community and retail destination in Gilbert’s Agritopia development, are set to open in the next month. Matt’s Big Breakfast, the popular Phoenix breakfast spot, has
The average home price in the Phoenix metro remained flat between December and January after about six months of declines, according to Redfin data. Why it matters: Any relief from the sky-high home prices we saw a year ago is welcome, especially as
Target Corp. is making a big investment to expand its next-day delivery capabilities across major U.S. markets. The discounter said it will spend $100 million to expand its package-sorting network (dubbed sortation centers) to more than
The Federal Housing Administration (FHA) on Wednesday morning announced a 30 basis point reduction in the annual premium charged to mortgage borrowers. The cut, widely anticipated by the industry, will result in
It’s been a tremendous start to 2023 for hotel investors who are enjoying record sales for quality assets in highly desirable and growing markets, according to a report from JLL. The sale of the Diplomat Beach Resort in Hollywood, Fla., was the
The housing market has been rapidly evolving. Home prices surged in 2020 as mortgage rates plummeted, and over the past couple of years, we’ve seen a slight cooling of the market as mortgage rates increased. But what does the future hold?
Health-care real estate continues to thrive, and investors can’t get enough of the sector, according to JLL’s Valuation Advisory Group’s inaugural Healthcare Investor Survey and Trends Outlook. Transactions in the sector climbed to
Dan Walsh doesn’t like to use the word “facility” when describing Clarendale Arcadia. “A facility is really what the old retirement centers used to be called. And they looked and smelled like a facility,” Walsh said.
Multifamily will likely experience little distress this year, despite a deceleration in debt origination since the beginning of 2022. Activity has “gradually decelerated” since Q1 2022, the second-best quarter on record for debt originations, according to
The state of Arizona and local counties and municipalities are expected to collect more tax revenue from hotels in 2023 than in any previous year, according to projections released Tuesday by the American Hotel & Lodging Association and Oxford Economics.
Affordability and water are the most pressing concerns in the Mountain West, according to the annual Conservation in the West poll released Wednesday. By the numbers: 78% of residents in eight Mountain West states rank cost of
Repurposing commercial properties into multifamily housing is growing more common across a variety of real estate markets and can provide a critical source of housing where shortages persist, according to a new report from
Fresh off acquiring the ground lease to 18 acres of Scottsdale Airpark land, Creation Equity is ready to build what it thinks will be a coveted industrial center. The Phoenix developer is planning an industrial project called
Ecobat, reportedly the world’s largest recycler of batteries, will build its third lithium-ion battery recycling facility—and its first in North America—in Casa Grande, Ariz. The facility is intended to initially produce an estimated 10,000 tons of
Wood Partners, a leading national multifamily real estate developer and manager, announced the grand opening of its newest luxury residential community, Alta Cooley Station, in Gilbert, Arizona today. Located just southeast of Phoenix
It’s a bit of same ol’, same ol’ for now in multifamily deal-making two months into 2023 – not a whole lot. “Buyers are cautious, facing higher financing costs and downgraded projections of future rent growth,” writes, Paul Fiorilla
The Real Estate Roundtable’s Q1 Economic Sentiment Index reports that commercial real estate executives, while optimistic about the future, remain uncertain about current market conditions, citing inflation, rising interest rates, and
Following a slowdown in sales in the second half of 2022 due to dislocation in the debt markets, hotel investors have kicked off 2023 with record sales for quality assets in highly desirable and growing markets, JLL reported.
A Northern California investment firm paid a record price for the AC Hotel Biltmore by Marriott as investors keep scooping up high-end lodging properties across greater Phoenix. Nella Invest, based in Auburn, California, bought the
Glendale-based Mangat Group has made progress on its proposed sports complex in Glendale, which is being developed just west of the city’s burgeoning sports and entertainment district. The new indoor and outdoor complex, called
After every month in 2022 recorded a decline in builder confidence, could 2023 herald a change? It’s beginning to look that way. Builder confidence in the market for newly built single-family homes in February rose seven points to
Taiwan Semiconductor Manufacturing Co. is moving forward with its plans to invest up to $3.5 billion for its Phoenix factory, according to a new Reuters report. The chip giant, which makes a large portion of the world’s semiconductor chips, said
A Chicago developer bought an apartment complex in the Phoenix region of Scottsdale as multifamily investors keep loading up on properties in the wealthy suburb. Avanti Residential, based in Denver