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.
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
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
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
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
The housing market is stabilizing in 2023, not crashing. Here are five reasons we won’t see a housing market crash soon. It’s been a housing market roller coaster the past few years with no shortage of news about record-high prices
Among the many ramifications of UBS‘s planned 3 billion Swiss franc ($3.25 billion) acquisition of Credit Suisse is the marriage of the two largest Swiss banks’ real estate debt books and asset management platforms. UBS will acquire
The Federal Reserve Board on Wednesday said its Federal Open Market Committee (FOMC) will raise the target range for the federal funds rate to a range of 4.75% to 5%. The increase marks the Fed’s second consecutive rate hike of
The European Renaissance of the 14th through 17th centuries was a time of rediscovery and rebirth, ushering in some of the most memorable works — from the printing press and microscope to the
Federal Reserve Chair Jerome Powell assured the country Wednesday that the central bank’s actions in recent weeks “demonstrate that all depositor savings in the banking system are safe.” Powell was speaking at a press conference following the
Arizona home prices rose 6.3% between the fourth quarter of 2021 and fourth quarter of 2022. This was below the U.S. price gain of 8.4% for the same time period and well below price gains of the previous year. Back in the fourth quarter of 2021
With a special election looming to create an Arizona Coyotes arena and entertainment district in Tempe, a grassroots group is amping up its opposition to a more than $2 billion development deal with the NHL team’s owner. In an at-times
Scottsdale-based developer Empire Group has finally landed some new commercial users for the remaining portion of a large site near Glendale’s sports and entertainment district. After years of marketing the 66-acre property — west of the
Metro Phoenix is a bona fide semiconductor hotspot, with two of the biggest expansion projects anywhere in the country for manufacturing the tiny brains that power and control almost anything that runs on electricity. The headlines are dominated by
PHOENIX — Home builder Brookfield Residential announced last week the opening of two neighborhoods in Avondale at the master-planned community of Alamar. The 1,150-acre community is debuting the
Ahead of a March 22 meeting of the Federal Reserve, the U.S. experienced its second- and third-largest bank failures in history, with the collapse of Silicon Valley Bank and New York-based Signature Bank, respectively. Despite being
Banner Health is finalizing the purchase of +/- 48 acres of land on the southwest corner of Hayden Rd. and the Loop 101 freeway to build Banner Scottsdale Medical Center, a new, comprehensive medical center and support services in the
Mesa did not have to wait long to see what the newly consolidated ownership of Fiesta Mall wants to do with the long-dormant mall. Now that it is apparently down to just one owner, plans submitted earlier this month to the city show that
The city of Tempe is planning a mixed-use project that would bring affordable housing and a grocery store to Apache Boulevard near ASU’s main campus. The city recently issued a request for proposal to transform the eight-acre site that once
Total U.S. sale-leaseback volume of 874 unique transactions during 2022 exceeded the prior record volume of 789 in 2021, according to SLB Capital Advisors, an advisory firm focused on sale-leasebacks and M&A-related real estate transactions.
Markets are suddenly on edge due to strains in the financial system. But banks aren’t the only source of stress. Pockets of the commercial real estate market — which is worth around $20 trillion — are showing cracks as well.
The pandemic set off an unusual time in multifamily. The sector became part of the short game. Rents drove upward, responding to increased prices, and things moved very fast. But with the shifts of the market, it’s time for the long game
Famous robber Willie Sutton said he never provided the famous answer to the question of why he robbed banks: “That’s where the money is.” Some reporter apparently made it up. Still, a great line. At its heart there is a pithy explanation of
The collapse of three U.S. banks means that one of the toughest real estate lending environments in decades is about to get even tighter, adding a new hurdle to an already challenging time for dealmaking. Since last summer
Big banks have come with a $30 billion unsecured rescue deposit for First Republic Bank in its efforts to stay afloat. The extraordinary deal involves 11 of the largest banks in the country: Bank of America, Citigroup, JPMorgan Chase and Wells Fargo