Retail sales rebounded in January amid a pick-up in post-holiday spending. Retail sales in January were up 1.5% from December and increased 4.8% year-over-year, according to the National Retail Federation, whose calculation excludes
Amazon Fresh locations are similar to traditional supermarkets, with a strong focus on private labels and technology that allows customers to skip the checkout lines by scanning products as they shop using the company’s proprietary Dash Carts.
Macerich, the operator and owner of many of Phoenix’s top malls, is looking to round out the surrounding areas of some of their shopping destinations with class A office buildings and multifamily housing. Plans are in the works for
Though large industrial lease signings dominate news headlines, demand for space at Phoenix’s small bay properties is quietly leading the nation. The median time to lease for local industrial spaces smaller than 50,000 square feet has plummeted from
Avanti Residential has sold the vibrant 193-unit Dwell Apartment Homes for $41.6 million to Chicago-based 29th Street Capital. The sale allows Avanti to realize its investment objective for the property and continue to reallocate the firm’s
The Arizona Sports and Tourism Authority estimated the impact of hosting the Super Bowl in 2015 to be $719.4 million[i]. By all accounts, the upcoming 2023 event should be even larger. The entire sector of sports and tourism in Arizona, however
An economic impact study conducted by Arizona State University found the 2022 WM Phoenix Open generated nearly a half billion dollars ($453.7 million) into the state of Arizona’s economy. As part of the total economic impact, the study, commissioned
City of Industry, California-based Cubework.com Inc. has signed a lease for 100% of the 915,000-square-foot building called Cotton 303 Logistics Center in the Phoenix metro. Cotton 303 is located on the southeast corner of
Bank loans for commercial real estate hit a record high in the final three months of 2022, but those lenders also set aside more money to cover potential losses from that financing amid recession fears. For all U.S. banks, fourth-quarter loans
Arizona’s housing shortage is straining many renters’ budgets and forcing too many out of their homes. The state’s population has grown faster than the construction of homes and apartments since the Great Recession, and the resulting shortage pushed
In CPE’s latest monthly poll, commercial real estate professionals were asked about their thoughts on when the financing of new deals, as well as transaction volumes could reach more productive levels. The results reveal a
Consumers continued to spend in January even amid inflation and an uncertain economic environment. U.S. retail sales (excluding automotive) rose 8.8% year-over-year in January, according to Mastercard SpendingPulse, which reports on
A proposed East Valley business park could employ up to 10,000 people. California-based Shopoff Realty Investments is proposing The Block on Elliot at Elliott and Sossaman roads in southeast Mesa. Shopoff acquired the nearly
Toward the end of 2022, the real estate market started to experience a leveling out period due to high mortgage rates. The increase in rates resulted in lower home costs and increased inventory. Now, as people are looking to invest in 2023, they
Sunday’s Super Bowl matchup between the Philadelphia Eagles and Kansas City Chiefs will cast a spotlight on one of the country’s fastest-growing real estate markets. Most of that growth has been outward rather than upward. Professional football’s
Glendale wasn’t the top destination for guests when the Super Bowl was hosted at State Farm Stadium in 2015 despite its regional draw with two sporting venues and dozens of restaurants, hotels and entertainment offerings.
Landsea Homes, a publicly traded residential homebuilder, announced today it has closed on 65 homesites and construction will begin immediately on a new neighborhood called Solvida in the Estrella master planned community in
STR expects Phoenix’s hotel revenue per available room to reach $419 for February 10-12, which the analytics company claims would be the second-highest level for a Super Bowl weekend. The market, which also is hosting the Phoenix Open this week, is
Back just in 2020—how long is that?—the fear in commercial real estate was palpable. The pandemic was full on. States and cities were closing businesses. Many office buildings became ghost towns. People were without incomes.
After a decade in the making, the shift in commercial real estate investment away from the major gateway markets to faster-growing areas in the South and West has stalled and even begun to reverse course. U.S. cities in the Sun Belt have
The January 2023 Senior Loan Officer Opinion Survey on Bank Lending Practices from the Federal Reserve has the type of headline results for commercial real estate lending that you might expect: tighter standards and weaker demands across all
Office visits remain about 60% of what they were before the COVID-19 pandemic, according to a new analysis from Placer.ai. It’s a continuation of a trend the firm observed in both Q3 ad Q4.
Downtown living is finally making a comeback after the pandemic-driven flight to the suburbs. But not all downtowns are cut from the same cloth. Some are better than others at getting the right mix of amenities to keep residents engaged
The struggling Bed Bath & Beyond Inc. (Nasdaq: BBBY) retail chain has released a new list of 150 more location closures, including two in the Phoenix area, adding to previously announced store shutdowns. The new list includes
A recent survey of commercial real estate investors ranked Phoenix as a top 10 target among U.S. metros. Phoenix ranks No. 8 among the Top 10 most preferred markets, according to CBRE’s 2023 U.S. Investor Intentions Survey. The survey found that