March 30, 2023

Portillo’s, the Chicago-based fast-casual chain, has opened its fifth Valley location on the southeast corner of Williams Field and Santan Village Parkway in Gilbert. The grand opening officially is Friday, but

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A luxury home in Paradise Valley recently sold for $8.8 million while a 3-acre vacant lot closed at $6 million — both cash deals. These big cash transactions indicate the luxury market is heating back up again, Valley real estate sector observers say.

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March 29, 2023

Phoenix started the new year off on a high note, with a net gain of 19,200 nonfarm jobs in January, according to the latest data from the Bureau of Labor Statistics. That figure represents the strongest month-over-month increase in

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Retail growth is expected to moderate in the months ahead, but it will remain positive even as sales start to stabilize from pandemic-era highs. Retail sales in the United States are expected to grow at a slower pace this year than last, according to

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In 2022, millennials became the largest generation in the U.S. to transition from renter-majority to owner-majority, according to new data from RentCafe. With 52% of millennials owning a home, the generation reached

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Living, lifting and more are coming to the site of the former Paradise Valley Mall. Luxury fitness club operator Life Time (NYSE: LTH) will expand to Paradise Valley Mall not only with a club but also with Life Time Living

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For years, much of the nearly 300 acres at Arizona State University’s West Campus in Glendale has sat vacant as the public university continued to invest millions of dollars in its other three campuses across metro Phoenix. But now

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March 28, 2023

The Camby Hotel, located on the corner of 24th Street and Camelback Road in Phoenix, traded hands earlier this month and was one of the highest-priced hotel transactions in the past year. The property, which was known as

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Construction is underway on an affordable housing complex funded in part by a state low-income housing tax credit and lauded by state and local officials who gathered at the building site Friday. Gorman and Co. — one of the nation’s

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Metro Phoenix’s median home price is expected to climb almost $12,000 in March after dropping most of the past six months. Home sales jumped in February and are on track to increase again in March. Both are indicators that

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Attracting ongoing widespread government and private sector investment, semiconductor fabrication plants and manufacturing facilities have become one of the largest contributors to industrial real estate development and related investment

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The restaurant industry underwent a major transformation during the pandemic as COVID-19 changed the way businesses operated. People’s dining preferences also changed significantly and new trends emerged in the market. Customers

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March 27, 2023

The latest mortgage rate drop has enticed some previously reserved homebuyers back to the housing market. The Fed’s recent interest rate hike is also helping buyers’ long-term mortgage interest rates, with the ten-year treasury, which

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A plan by nonprofit Chicanos Por La Causa to transform a downtown Mesa corner – and remove a grim reminder of an eminent domain debacle – is back on track after a three-year delay. Mesa City Council on March 20 approved a

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The state of Arizona has opened a new trade and investment office in Taipei, Taiwan, to further boost economic opportunities between the two regions. The new office will be part of the ACA and will serve as a platform to increase

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The Metro Phoenix housing market  has heavily favored home sellers since the start of the decade as more people moved to Arizona and the pandemic scrambled the status quo. The S&P CoreLogic Case-Shiller Index’s most recent release shows that

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The waves of the 37-acre, $280 million Cannon Beach retail and entertainment complex anchored by a surfing lagoon in southeast Mesa are taking longer to reach the shore than expected. That’s creating suspense for city leaders eager to

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March 24, 2023

The U.S. remains a preferred global destination for commercial real estate investment with allocations up 6% from 2022, compared to a 5% decline in European investment, according to AFIRE’s International Investor Survey: Q1 2023 Pulse Report.

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With the interest rate ticking up to a 15-year high, many Marketplaces Industry watchers fear a looming wave of commercial property mortgage maturations. If borrowers default or fail to make payments as their loans mature, that could

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LG Energy Solution today announced it will invest approximately $5.5 billion to construct a battery manufacturing complex in Queen Creek, Arizona. The complex will consist of two manufacturing facilities – one for

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After eight years of pushing through the entitlement process in Pinal County, a motorsports park finally opened its doors to car manufacturers and race enthusiasts in December 2021 with a 2.3-mile asphalt course south of Phoenix in Casa Grande.

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A new West Valley construction project valued at $120 million broke ground Friday. Called Centerline at Glendale, the development will eventually offer more than 350 affordable housing units, according to Jacqueline Edwards, director of

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March 23, 2023

The Federal Reserve’s 25-basis-point increase in the federal funds rate on Wednesday was widely expected; now the question is where the Fed—and the market—goes from here. Among commercial real estate economists and finance experts, the

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In a move that was not without its fair share of controversy, the Federal Reserve has unanimously elected to further raise interest rates by 25 basis points in March, bringing the current federal funds rate to a range of 4.75 to 5 percent. The hike was

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Chicago-based LG Group has started construction on what will be one of the largest residential towers in downtown Phoenix once completed. The new 28-story tower will total 1.4 million square feet with 747 units and nearly

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