Both commercial real estate investment and lending activity were up significantly in Q1, according to a new CBRE report. CRE investment volume was up 14% year-over-year to reach $88 billion in the first three months of 2025. Trailing four-quarter volume was up by 18% year-over-year to $408 billion. That’s the largest amount since the third quarter of 2023. As one might expect with a large jump in investment, there was also a big increase in lending
The U.S. inflation rate hit a 40-year high after the pandemic but has since cooled significantly due to factors like the Federal Reserve rate hikes. The year-over-year inflation rate sits at 2.3% as of April 2025, lowest rate recorded since February 2021, but is still above the target rate of 2%. Various factors, such as the war in Ukraine and labor shortages, drive this higher than average inflation. Despite the country not meeting its target yet, the Federal
Construction crews are busy transforming hundreds of acres of North Scottsdale desert land. An update on a few of the biggest North Scottsdale projects: Optima: On Scottsdale Road just south of the Loop 101, Optima McDowell Mountain Village is well under way. The first of six planned apartment buildings – all to have rooftop pools – has been framed. Ultimately, the project plans 1,330 apartments and 36,000 square feet of commercial area
The long-delayed opening of what’s slated to be Arizona’s largest hotel project could face more setbacks, pending the results of a special election this month. Glendale residents have a May 20 deadline to vote by mail on two measures related to the massive VAI Resort project. Propositions 401 asks Glendale voters whether to uphold a decision made by City Council to rezone 10 VAI-owned acres adjacent to the resort that are slated to be
Optima, an internationally acclaimed architecture and real estate development firm, announced today the launch of sales for the first luxury condominium tower at Optima McDowell Mountain—a $1 billion, design-forward community in North Scottsdale that has already secured close to $27 million in early reservations ahead of its public release. Optima McDowell Mountain represents the latest evolution of architectural design, sustainability
The U.S. data center market has entered 2025 with remarkable momentum despite a cyclical pause in national absorption, Avison Young reported. Driven by sustained demand from AI and cloud users, the market continues to experience record-low vacancy rates. The trend persists even as supply struggles to keep pace with the growing needs of the industry. On a regional basis, Texas markets, particularly Dallas/Fort Worth, have surged ahead
In January, tech sector stocks tumbled when a Chinese artificial intelligence startup, DeepSeek, unveiled a large language model that operates at a much lower cost than U.S. versions while maintaining similar capabilities. DeepSeek reports that it spent just $5.6 million to train its AI, compared to the more than $100 million committed by OpenAI for GPT-4. While some critics question the veracity of DeepSeek’s claims, the intensifying demand to
Fox Restaurant Concepts announced May 13 it will be expanding its The Henry restaurant brand to the north Scottsdale area. The Phoenix-based company that was founded by Sam Fox and is now owned by the Cheesecake Factory has plans to build a new 7,000-square-foot restaurant space on the southwest corner of Scottsdale Road and the Loop 101 in a space once occupied by a Denny’s. The demolition of the Denny’s started last week
Glendale residents have just over a week to decide whether they’ll accept or reject two propositions that will approve zoning for a $1.2 billion resort. The special election for the VAI Resort near State Farm Stadium will be by mail-in ballots only. Opponents say the city doesn’t need additional development. Supporters argue that a yes vote will create much needed jobs. Garrick Taylor is with the “Yes for Glendale” campaign. “And those are for
Phoenix is on the verge of enacting zoning regulations to limit where data centers can be located. Why it matters: Data centers use large amounts of energy and space and can bring negative effects like noise pollution to surrounding communities, per an analysis by city staff. State of play: The city wants to direct data centers away from mixed-use, walkable and transit-oriented communities. They create few jobs, take up land that could be used
Commercial real estate lending surged in the first quarter of 2025, driven by higher financing volumes and robust activity from banks, although caution persists due to government policy and economic uncertainty impacting Treasury yields, CBRE said Monday. The CBRE Lending Momentum Index, tracking the pace of CBRE-originated commercial loan closings in the U.S., increased by
In the first quarter of 2025, Phoenix ranked 6th among the nation’s larger office markets, with top 10 placements across several key indicators: The market recorded the 4th-largest slip in vacancy rate; added more than 330,000 square feet of office space, which represented the 4th-largest market expansion as a percent of stock; and ranked 4th for the share of loans expected to
A new study ranks all U.S. states by percentage increase in business investment growth, with Arizona ranked No. 36 in the country. The state experienced a 356% increase in investment growth between 2019 and 2024, from $2.91 billion to more than $13.27 billion. That’s according to the study from BrokerChooser, an online platform that provides business investors with broker comparisons
An industrial property in south Phoenix now belongs to the city, marking a significant step in a long-term project to revitalize the Rio Salado. The big picture: The newly acquired site will become part of Rio Reimagined, a regional project involving the cities of Avondale, Buckeye, Mesa, Phoenix and Tempe, as well as Maricopa County and the Salt River-Pima and Gila River
The number of residential home sales rose for the second month in a row. Year-over-year closed home deals for the Metro Phoenix housing market increased 4.1% compared to the first four months of 2024. “With all the questions about the economy, it’s reassuring to see closings rise again,” said Christy Walker, board president of Phoenix REALTORS®
A surge in commercial mortgage-backed securities issuance is defining the market’s renewed momentum in early 2025, with robust growth fueled by single-asset single-borrower transactions and a notable rebound in conduit deals. This resurgence underscores a central theme: the CMBS market is regaining its dynamism, even as it navigates complex headwinds and evolving investor
Demand from a solid labor market and a weak for-sale home market continues to drive moderate multifamily rent growth. The average U.S. asking rent increased $5 to $1,736 in April, according to the latest Yardi Matrix National Multifamily Report. Year-over-year asking rent growth fell 10 basis points to 0.9%. However, Yardi Matrix said that while solid demand has kept rent growth steady
Queen Creek’s downtown will soon be home to several new restaurants including Postino, Shake Shack and Snooze, as well as office space and 215 luxury apartments. They will all be part of the $120 million mixed-use development called The Switchyard, whose construction will start this month. The project is being spearheaded by Phoenix-based Creation, which won the right to
The number of residential home sales rose for the second month in a row. Year-over-year closed home deals for the Metro Phoenix housing market increased 4.1% compared to the first four months of 2024. “With all the questions about the economy, it’s reassuring to see closings rise again,” said Christy Walker, board president of Phoenix REALTORS®. “New listings are also up again
Developers broke ground on the highly anticipated project dubbed The Switchyard in the heart of Queen Creek’s Ellsworth Loop corridor on May 7. The $120 million mixed-use project developed by Creation and in partnership with Horizon Real Estate Ltd. will transform the fast-growing town’s downtown area and bring in 54,000 square feet of commercial space and a 215-unit luxury
Retail sales rose in April as many consumers continued to move up buying to avoid higher prices expected to result from tariffs. Core retail sales (excluding restaurants, automobile dealers and gasoline stations) increased 0.9% month-over-month in April and 7.11% year-over-year, according to the CNBC/Retail Monitor released by the National Retail Federation, which uses actual
Property appreciation as measured in the NCREIF Property Index turned positive in 2025’s first quarter for the first time since Q2 2022, according to the National Council of Real Estate Investment Fiduciaries. In addition, all seven property types measured by NCREIF saw positive appreciation in Q1, including office. The NPI, which measures 12,813 commercial properties
The American job market surpassed expectations in April, sending stocks soaring while pushing economists’ expectations for Federal Reserve interest rate cuts later into the year. Beyond the headline numbers, though, signs of softening emerged, as job growth related to tariff front-loading is likely to prove fleeting, and more up-to-date data solidifies the picture of an increasingly
Arte Moreno has decided to get in on the action happening in the Southeast Valley. Moreno, owner of the Los Angeles Angeles and one of Arizona’s billionaires, purchased an approximately 21-acre vacant lot in Gilbert for $24.5 million on April 28, according to Tempe-based real estate database Vizzda LLC. The acquisition includes two parcels: a nearly one-acre parcel
Cannon Beach, the premier destination fusing lifestyle and adrenaline in the heart of Mesa, is quickly transforming into a one-of-a-kind hub with 11 exciting tenants already open and more than 20 new businesses on the horizon. From crave-worthy eats to high-energy wellness and retail experiences, Cannon Beach is a playground for all ages and interests. This next-level