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
Rents may be falling but fundamentally multifamily fundamentals are very strong. Widespread distress is highly unlikely to happen; indeed forecasts for the asset class’ long-term growth are quite rosy. But for investors eager to get a cost-effective
State Farm Insurance, one of the largest Fortune 500 companies with employment hubs throughout the country, is considering subleasing some of its unused real estate, the latest corporate giant to weigh what to do with excess space.
While there is plenty of debt capital available waiting to deploy, fewer borrowers are willing to transact unless they must and there is an increase in activity from private capital, and regional and local banks from those who do, according to a new report
Investors pumped $9.68 billion into qualified opportunity zone funds in 2022, bringing the total raised for investing in 8,746 areas federally designated as economically distressed to $34.09 billion since the opportunity zone program launched
2022 was a complex year for commercial real estate, as rising interest rates created an air of uncertainty in the market, resulting in a deceleration of transaction activity. Despite these headwinds, multifamily fundamentals ended last year on
When it comes to the office industry, 2022 was another entry in a series of transformative years. With work time still shared between home and the office (for most companies), the office building continued to take on the role of an
There’s an old saying that water finds its level, and usually it means people gravitate toward the like-minded. But there’s another way to take it from physics — that water will move about until pressure and force equalize. It adapts to
Tempe has tripled down in its battle to keep a $1.8 billion project on Town Lake off the ballot, appealing two previous court losses to the Arizona Supreme Court on Friday. The city hopes to overturn rulings won by an advocacy group that collected
Chicago-based The X Co. — which recently started construction on the second phase of its X Phoenix multifamily project in downtown Phoenix — plans to break ground nearby this spring on X Roosevelt. With 506 beds spanning 20 stories, the first phase of
Several major construction projects moved forward in Phoenix in 2022, which contributed to it being recognized as a top market for the value of commercial and multifamily starts. Dodge Construction Network found Phoenix to be No. 7 on a
Phoenix is moving forward with a request for proposals for a city-owned, vacant lot on the south side of the city that has a long history. The economic development and equity subcommittee approved on Jan. 25 a motion that will allow the city to issue a
(Bloomberg Opinion) — Walmart Inc. inched closer to a $15 minimum wage last month, drawing tepid praise from even some of its strongest critics. The largest US employer joined Macy’s Inc., CVS Health Corp. and Target Corp., all of which have
Moon Valley Nursery last week cut the ribbon on its new 25,000-square-foot corporate office in Scottsdale Airpark. Its new office, located off loop 101 and Pima Road in the Pima Northgate office building, will comfortably house members of its
Sub-Zero Group plans to open a second plant in Phoenix’s Goodyear suburb as the kitchen appliance company expands its manufacturing footprint across the United States. Developers ViaWest Group and Scottsdale Investment Management broke ground this month on
A developer is seeking an indefinite extension for a 224-acre mixed-use business and retail center that’s slated for the former Phoenix Trotting Park property along Interstate 10 and the Loop 303 in Goodyear. The project, called the Innovation Centre, will
An Arizona business leader believes the state could bring in up to $1 billion due to the Super Bowl, a figure that would be triple the intake of the last time the game was hosted in Glendale. Danny Seiden, president and CEO of the Arizona Chamber of Commerce, projects the State