Fort Lauderdale, Florida-based ZOM Living has started work on a 416-unit luxury apartment project in north Phoenix, called Azola Desert Ridge. The developer paid $27.1 million for a 20-acre parcel at the northwest corner of 56th Street and Loop 101, according to Tempe-based Vizzda LLC. This sale resolves the Arizona State Land auction on June 26, 2024, where ZOM Living was the winning bidder of 54 acres for $6.62 million
The sale of Arches at Hidden Creek in Chandler led the biggest commercial real estate deals in March. Here are the 10 biggest deals in Metro Phoenix commercial real estate from February of 2025, according to data collected by the commercial real estate tracking website Vizzda and AZRE magazine. 1. Arches at Hidden Creek Price: $95,446,000 Sector: Multifamily…Read More→
In 2025, industrial development is expected to continue decelerating, in response to the rapid expansion seen early in the decade. But the good news for Valley residents is that the Phoenix industrial pipeline ranks No. 3 among the largest in the U.S. CommercialSearch’s newest report highlights the markets with the newest industrial supply underway, as well as the largest properties scheduled for delivery this year. For this, we used
The five years since the onset of the COVID-19 pandemic and subsequent economic disruption intensified the southward and westward movement of the United States labor market. Over the past year, however, a handful of states in seemingly moribund regions have seen substantial recoveries, while most post-pandemic winners have seen job growth slow. According to
As Optima McDowell Mountain takes shape in North Scottsdale, award-winning real estate firm Optima is setting a new benchmark for sustainable luxury with its $1 billion mixed-use community, featuring meticulously designed residences, cutting-edge green building techniques, expansive open space and community-driven amenities designed for modern desert living
At this point, there’s little surprise that the increased tariffs scheduled to start today will negatively impact commercial real estate. CBRE, CommercialEdge, and S&P Global Ratings have all projected this. There are obvious concerns such as increased construction costs, additional financial pressure on retailers or multifamily tenants from higher business or living expenses
The largest private equity players in commercial real estate are in buying mode and several are zeroing in on large multifamily REITs in what may become a crescendo of mega-deals. According to Willy Walker, CEO of Walker & Dunlop, these impending acquisitions may rival in size and scope Blackstone’s $13B all-cash transaction in 2022, when the firm swallowed
Hi Noon Hospitality — the company behind Buck & Rider and Ingo’s Tasty Food — is preparing to open its third restaurant concept and has released more details about the new eatery. Expected to open in the fall of 2025, Pinyon will be a new Mediterranean-inspired restaurant, focused on serving up seafood from the entire Mediterranean region. The new restaurant will be at
The macroeconomic environment has been marked by unusual trends, with short- and long-term interest rates diverging in behavior, as CBRE recently observed. Despite these complexities, there are reasons for optimism in the commercial real estate market, particularly regarding cap rate compression. CBRE anticipates some degree of cap rate compression
A joint venture plans to create a mixed-use development surrounding a semiconductor fabrication campus in Phoenix. Halo Vista has been selected by a panel of local industry professionals as the winner of the 2025 CoStar Impact Awards for sale/acquisition of the year for Phoenix. New York-based Mack Real Estate Group secured the development
The vision for The Ranch — a billion dollar mixed-use development in Gilbert — is coming into focus nearly two years after its zoning was approved. Las Vegas-based IndiCap and Salt Lake City-based Colmena Group, along with project investor Langley Properties, have long been seeking to transform a 311-acre parcel on the corner of Elliot and Power Roads
PhoenixNAP Global IT Services is doubling down on its presence in the Valley in response to the region’s strong demand for data centers. PhoenixNAP’s “phase two” project will begin construction in four months on a 530,000-square-foot data center and will bear the name PHX02, JLL Executive Managing Director Mark Bauer told the Business
A development dubbed The Gilmore is set to bring retail and housing on a 35-acre lot of land along the northwest corner of Val Vista Drive and Germann Road near Mercy Gilbert Medical Center, and is poised to break ground in late April 2025. The $200 million development will include 197,000 square feet of new commercial development, along with about