April 16, 2021

As more Americans are vaccinated, expect certain segments to recover faster over the next 90 days, according to John Chang, senior vice president and director of research services at Marcus & Millichap. “The property types that will see the impact fastest are hotels

Read The Full Article...

Following the Arizona Legislature’s passage of HB 2772, which would authorize fantasy sports and sports betting in the state pending action from Governor Doug Ducey, the PGA TOUR and DraftKings today announced that they will expand their existing commercial

Read The Full Article...

A recent survey of Gen Z renters conducted by the National Apartment Association in partnership with Statisfacts/Apartment Ratings late last year shows a sharp contrast in preferences compared to other cohorts.   Compared to pre-pandemic millennials who embraced

Read The Full Article...

Thompson Thrift Retail Group (TTRG), a wholly owned company of Indianapolis-based Thompson Thrift, announced today the acquisition of the first parcel of a 15-acre master planned development in Mesa. When fully built out, the development located at the

Read The Full Article...

The housing market is looking extremely strong for the Phoenix area in 2021. Realtor.com’s most recent forecast predicts home sales in the Valley will jump 11.4% over last year’s levels, which is more than the national average. The combination of beautiful weather,

Read The Full Article...

April 15, 2021

Kimco Realty Corp. KIM, +2.31% announced Thursday an agreement to buy Weingarten Realty Investors WRI, +12.55% in a cash and stock deal that values the owner of grocery-anchored shopping centers at about $3.9 billion. Kimco’s stock was up 0.2% in premarket trading and Weingarten shares are still

Read The Full Article...

Americans are moving into Idaho, and Idaho is moving up—in the ranking of most popular 2019 moving destinations, that is. Arizona is the third-most-popular inbound state. According to the results of United Van Lines’ 43rd Annual National Movers Study, which tracks customers’ state-to-state migration patterns

Read The Full Article...

A joint venture that includes Los Angeles developer Barker Pacific Group has sold the Mesa Tower in Mesa, Arizona, for $39.5 million, the highest total price on record paid for an office building in the Phoenix suburb. The venture, which also includes Washington, D.C.-based private equity firm Iron Point Partners, sold

Read The Full Article...

RED Development is welcoming four new tenants, including two brand-new concepts, to CityScape Phoenix ranging from an upscale bourbon bar and quick serve, grab-and-go healthy restaurant to a nutrition store and bike shop that celebrates the city’s cycling-friendly style. Now open, the popular Southern

Read The Full Article...

Legal sports gambling in Arizona is expected to draw more than $3 billion a year in bets and generate more than $200 million a year in revenue for sportsbooks once the market is fully up and running, according to an estimate from a national analyst. Sportsbooks could launch in Arizona this year thanks to

Read The Full Article...

April 14, 2021

Approximately 159 million economic impact payments, totaling more than $376 billion, have gone out to eligible recipients in the last month — and the majority of that money continues to be spent on groceries, rent and other monthly bills, according to a new survey

Read The Full Article...

Värde Partners has originated more than $2.5 billion in commercial real estate loans since 2017. In the first quarter of 2021, the firm closed $309 million in U.S. commercial real estate loan originations spanning the office, multifamily and hospitality sectors. Commercial

Read The Full Article...

A multitude of investors and investment groups have been routinely upping their ante to acquire hard real estate assets year-over-year. This diverse group includes a tapestry of family offices, hedge funds, institutional investors, high net worth individuals, wealth advisory

Read The Full Article...

The average amount of free rent that office landlords are offering to secure long-term leases jumped 12.5 months in the first quarter. That was a 29% increase from a year earlier, according to CBRE. Free rent has risen sharply since 2019. From Q1 to Q3 2019, free

Read The Full Article...

Last year was tough for everyone and most industries. However, industrial real estate construction was more insulated. Shelter-in-place mandates, working from home and online schooling meant that Americans weren’t going anywhere — and, as a result, they were

Read The Full Article...

April 13, 2021

The median home price of the average single-family home in Arizona has been increasing drastically over the past several years. Since 2015, the Arizona housing market has seen the median closing sale price increase from $211,000 to an astonishing $350,000. While many native Arizonans angrily profess to

Read The Full Article...

The COVID-19 pandemic has accelerated e-commerce trends that have fueled demand for warehouse and distribution space in the Phoenix market. Amazon has been aggressively expanding in Phoenix the past year, signing 11 leases last year alone that range from smaller last-mile fulfillment centers to

Read The Full Article...

Grocery stores may have arguably been the most essential of all the essential businesses during the pandemic, and even though this past year put a lot of strain on their workers, it paid off with a significant increase in sales. The Phoenix-area grocery sector (including supermarkets, mass merchandisers and

Read The Full Article...

Phoenix’s industrial leasing volume reached an all-time high in the first quarter, and developers are trying to keep pace. E-commerce, distribution and logistics and food and beverage manufacturers are committing to space in Phoenix and contributed to more than 6 million square feet of new leases. Despite

Read The Full Article...

Are you moving to Arizona this year? Join the club. But where are the best places to move in Arizona in 2021? The Grand Canyon State is booming now more than ever. As both young professionals and families decide to relocate to the Sonoran desert, many are wondering: Where are the best places to

Read The Full Article...

April 12, 2021

Fed Chairman Jerome Powell returned to “60 Minutes” on Sunday to tell Americans that the economy is going to start growing strongly, but they shouldn’t expect the central banks to start raising interest rates as a result. Asked by CBS News’ Scott Pelley when

Read The Full Article...

A historic building in Old Town Scottsdale, and the property surrounding it, will be transformed into a new hotel and apartments which business owners say could breathe new life into the area. But the proposal for a seven-story building is more than twice what city

Read The Full Article...

The U.S. economy is roaring back, and the expectation remains for real GDP growth to surpass any annual growth seen in the last few decades. The faster the vaccination targets are reached, and herd immunity is achieved, the faster consumers will return to a

Read The Full Article...

Renting or buying a home in Arizona is increasingly expensive and more and more households in our state are cost burdened. A new report from ASU’s Morrison Institute for Public Policy says the state’s affordable housing shortage is only going to get worse

Read The Full Article...

Bookended by the 2008 crash and COVID-19, the decade between 2009 and 2019 was a transformative one for the real estate industry. Curious to see how the housing market had fared between the two most significant, yet wildly different economic downturns

Read The Full Article...