March 8, 2023

Real estate development firm Roers Cos. received $90 million in financing to build a 200-unit affordable housing project in Buckeye, a fast-growing suburb west of Phoenix. Roers, based near Minneapolis, secured

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CRE has been an industry soaked in uncertainty. Interest rate jumps, worries about a potential recession, significantly reduced transactions that makes price discovery difficult. For those in the office sector

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“It’s Raining Men,” so the 1980s song by the Weather Girls went. More than 40 years later, what’s raining is multifamily units. In a research brief, CBRE forecasts that 716,000 multifamily housing units will hit the market over the next

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Homeowners of luxury estates at The Palmeraie in Paradise Valley are frustrated with the stop-and-go construction pace of their new homes. Construction is again on pause for the $2 billion, 122-acre luxury master-planned community — which includes

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March 7, 2023

Activity from out-of-state technology companies drove unprecedented data center leasing activity in Phoenix during 2022, according to a new report from CBRE. The market’s absorption – a measure of net leasing activity – had

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Soaring costs for protections against rising interest rates are further pressuring commercial real estate property owners saddled with floating-rate debt. Property owners who purchased interest rate caps before the Federal Reserve began

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MEMPHIS, Tennessee — Shifts in business travel demand over the past few years have included trips that increasingly blend in leisure, as remote and hybrid work enable extended stays at hotels. Some hotel executives believe

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March 6, 2023

With a total of over 52 million square feet of industrial space under development, Phoenix ranks 2nd among the largest U.S. markets by industrial real estate currently under construction, according to CommercialSearch’s latest study

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A redevelopment project in downtown Phoenix aiming to make better use of the transit depot at Central Avenue and Van Buren Street is on track to begin opening for student housing in the fall 2024 semester. Central Station, which will include

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A California homebuilder is buying homes in the Arcadia Lite area of Phoenix, razing them and building new from the ground up. Aliso Veijo, California-based Thomas James Homes Inc. just closed on its first home last week. It just finished its

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GTIS Partners, a global real estate investment firm managing $4.3 billion in gross assets with a U.S. focus on residential and industrial/logistics investments, announced the sale of 4,150 acres at Merrill Ranch to El Dorado Holdings. Merrill Ranch is

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Sprouts Farmers Market Inc. (Nasdaq: SFM), a Phoenix-based specialty grocery chain, unveiled a new real estate strategy during an earnings call on last week, which will lead to a lot of new stores opening and some older ones closing.

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March 3, 2023

Labor is a top reason why companies are choosing to move to or expand in the Phoenix metro, particularly in fast-growing areas like the West Valley. For the past two decades, West Valley cities such as Goodyear and Surprise have seen

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Macerich Refinances Arizona Mall: Goldman Sachs is heading to market with a portion of a $700 million loan in a single-borrower, single-property commercial mortgage-backed securities deal — the first such mall-backed offering since

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Going into 2023 has been for CRE a bit like jumping into a mountain lake and feeling that surge of cold racing through your body. The uncertainty about valuations, the economy, and interest and cap rates. It’s understandable that transactions have

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Housing affordability dropped to a new low nationally and in Arizona during the fourth quarter of 2022. The National Association of Home Builders/Wells Fargo Housing Opportunity Index, released February 9, indicated that only

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No, it doesn’t signal an end of the Treasury yield curve inversion, whether 10-year to 2-year, 10-year to 3-month, or any other variation you’d like to suggest. So, no, there isn’t a sudden end to that traditional sign of an upcoming recession. However, yields on

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March 2, 2023

A dream more than 10 years in the making for a Valley biotech innovation hub is finally coming to fruition. Mayo Clinic has submitted its zoning application with the city of Phoenix to develop Discovery Oasis, a 120-acre medical and

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LaSalle Investment Management, an independent subsidiary of JLL, bought a 240-unit apartment complex near Chandler as out-of-state investors keep snapping up multifamily properties in greater Phoenix. LaSalle paid

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The rising cost of capital has stalled most commercial real estate development in 2023. Unless projects were already underway or financing had been secured, there will be few projects started, according to John Chang, senior vice president of

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If you’ve recently searched for a rental and got the feeling that new apartments are getting tinier, you got it right. According to our new analysis, the average size of newly built apartments has decreased by 54 square feet – from

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The Valley was one of the most resilient areas nationwide during the pandemic, a new report by the Brookings Institution shows. Brookings on Feb. 28 released its Metro Monitor 2023, a report that offers a comprehensive look of

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March 1, 2023

February marked a return to positive rent growth – albeit by just 0.3 percent nationally – after five straight month-over-month declines, according to the March 2023 Rent Report from Apartment List. Despite that minor milestone, for

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Two out-of-state developers plan to build nearly 2,000 build-to-rent units across metro Phoenix — bringing a unique approach to the wildly popular niche that originated in Arizona and is taking the country by storm.

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On Monday night, the Goodyear City Council took the next steps to make its future downtown a reality. The council unanimously approved the agreement between key partners of GSQ – the future downtown of Goodyear – and also

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