It isn’t just retirees who are moving to Arizona these days.The state now draws people of all ages, seeking to escape to a place known for mostly mild winters and abundant sunshine. In its 2023 migration report, Allied Van Lines found that Arizona was No. 2 in popularity for people
Residential Realtor Somone Wilder is a Top 40 Under 40 Realtor in Maricopa County with a track record of selling more than 500 homes in just the past 500 years. Featured on NPR and in Bloomberg Magazine, she has positioned herself as an expert in her industry
Six years after receiving approval from Scottsdale City Council to build a new hotel in Old Town, Desco Arizona LLC aims to break ground on the project this year. On Feb. 6, Phoenix-based Biltform Architecture Group submitted an application to reapprove the
They called it the “Great Consolidation,” a wave of bank branch closures during the pandemic that seemed to herald a new age of digital banking that would turn your favorite local vault into a relic from a bygone era. Well, we just got an overdraft notice on that gloomy outlook
Can’t stop won’t stop? OK, you will never confuse me for a rapper, but those are the four words that describe this economy right now. And as we walk into retail earnings hell — a period where too many retailers report all at once and the comparisons become
The industrial sector—which has been on a hot streak for several years—experienced a significant cooling-off in 2023. As we look ahead to 2024, CommercialEdge anticipates a period of stabilization and normalization in the sector. In 2024, rent growth is expected to slow and vacancy
Even though the pandemic lockdown is four years in the past, the work-from-home trend is still with us. However, the trend continues to change as employees push return-to-office mandates and employees continue to push back for remote work. Eptura’s “2023 Workplace Index
A panel of experts on Thursday said that it was an overstatement to say that the office segment of the commercial real-estate market was in “a doom loop.” Downtown office buildings in many cities have dropped in value with shifts in work behavior. Values of office buildings
Award-winning real estate development firm, Optima is partnering with Mitsui Fudosan America, Inc. for the development of the first building within its newest Arizona residential development, Optima McDowell Mountain Village, located on 22-acres on the southeast corner of
The metro Phoenix housing market is rebounding just as mortgage interest rates are expected to dip as 2024 unfolds. Local analysts are optimistic that any drop in mortgage interest rates will be the catalyst needed to spark a surge in home closings. “We are expecting
JE Dunn Construction and Hatteras Sky announced a major milestone, as its newest development in Phoenix, Saiya, celebrated its official “topping out” last month. The 23-story apartment high-rise project, located at First Avenue and West McKinley Street, broke ground in July
Arizona, especially the Phoenix metro area, continues to be one of the nation’s hot spots for new multifamily supply as well as demand. Phoenix was one of the 12 U.S. metro areas to add at least 7,000 net new apartment households last year and ranked among the top
Diversified Partners has broken ground on Eastgate Plaza, a 17-acre mixed-use project in Mesa. Tenants at the development will include Starbucks Coffee, d’Lite, Pure Barre, Fix FX, Fresh Monkee, Playa Bowls, Kolache Café, Farmer Boys, Ono Hawaiian BBQ, Vero Chicago Pizza
A new mixed-use project with apartments and 100,000 square feet of commercial space is being proposed for a growing area in the northwest part of metro Phoenix in Surprise. Called Desert Arroyo, the development has been planned for about 42 acres at the northeast
Attempting to determine what will happen with the economy, commercial real estate and capital markets over the next 12 months is an activity that could backfire. A year ago, the focus was on a recession, which never materialized. Other issues of concern included record-high
While countries around the world have struggled to recover from the economic setbacks brought on by the pandemic, one has emerged particularly strong. With a fast-growing economy, a strong labour market and falling inflation, the US has outpaced its counterparts in Europe
Commercial and multifamily mortgage loan originations were off 25% year-over-year in the fourth quarter of 2023 compared to a year earlier, and were up 13% from Q3 2023, according to the Mortgage Bankers Association’s (MBA) Quarterly Survey of Commercial/Multifamily
Homebuilders are busy buying lots and building model homes across metro Phoenix in a sign of increasing optimism in the residential real estate sector. R.L. Brown Housing Reports tracked 1,053 land transactions with 30,617 acres and 14,194 lots purchased in 2023 in
Gen Z may prioritize job opportunities and sunshine over affordability when moving out of state. A new Zillow analysis of the U.S. Census Bureau’s 2022 American Community Survey (ACS) finds Gen Z interstate movers flocked to California, even as the state experienced the
PHOENIX – Arizona’s second consecutive wet winter is big win for the Valley’s water supply. Salt River Project’s reservoirs, which the utility uses to feed the metro Phoenix water system, were 83% full as of Wednesday, up from 79% at this time last year. “That really gets us through a
A nearly 2,000-acre data center and technology campus could be developed west of Phoenix in a new corridor the city of Buckeye is looking to establish around its airport. The Buckeye planning commission is scheduled to vote Feb. 13 on creating a designated technology
Metro Phoenix renters are finally getting a break. Valley rents have stopped their heady increases and are down in most areas. Also, Arizona legislation has been introduced to give tenants more help. It’s needed after metro Phoenix led the nation with a 30% rent hike in
The Greater Phoenix office market, like nearly all large cities across the nation, is struggling with negative net absorption in the post-pandemic economy. Despite negative net absorption totaling -1.7 million square feet during 2023, the Phoenix market continues to experience rising
California-based Menlo Equities has proposed to replace a mostly vacant Phoenix office park with a 1.1M SF research and development hub that will combine data centers with R&D space. The project, to be known as the East Thistle Data Center, envisions five buildings
After being placed in a receivership following its ownership’s failure to make mortgage payments, a buyer has been lined up to acquire the Adero Scottsdale resort. The 177-room property in Fountain Hills, which used to be the CopperWynd Resort before a massive renovation and