DAILY TOP 5

Industrial assets traded at a nearly 31% premium over 2020 prices in the second quarter, clocking in at a national average of $113 per square foot. That’s an increase of 13.3% over Q1 figures—and underscores what experts have been crowing about since even before the COVID-19 pandemic: industrial is the

Returning to office this fall — at least part of the time — for many employees will also mean a return to commuting. Productivity has been a central topic in the ongoing remote work versus in-office debate. Proponents of a remote-first workplace say not having to drive or take a train for 30 minutes, an hour or

Work from home, but invest across the nation. Real estate investments shouldn’t be limited to where you physically live, as you may be missing out on some of the hottest markets in the nation. The experts at Roofstock agree completely, which is why they are on a mission to make

Hiring in the second quarter of 2021 narrowly beat economists’ expectations. In normal times, this would cause few changes to economic projections. But these aren’t normal times. Widespread vaccine deployment in the late spring led to improved health conditions, buoying expectations for recovery over

PHOENIX—Once a poster child for the foreclosure crisis, Phoenix’s housing market is booming again, boosted by robust population growth and relative affordability. Phoenix was a hot market before the pandemic, and it has been a major beneficiary of new remote-work policies, as workers in expensive cities decided to

In the second half of 2020 and the first half of 2021, roughly 363,000 rentals were delivered. Marcus & Millichap says this was the largest completion volume over a four-quarter stretch in at least two decades. The deliveries weren’t uniform throughout the nation. In fact, almost one-third of

Buoyed by positive headwinds in the market, multifamily loans will be well-positioned for refinance and sale transactions this year. Predictions of either distress or disruption to the sector have failed to materialize this year, despite eviction bans and foreclosure moratoriums initiated early in the COVID-19 pandemic⁠—and experts from  

Lucid Motors’ factory complex is in Pinal County. The county in which it is located was incorrect in an earlier version of the article. The Arizona manufacturing sector could benefit to the tune of billions of dollars from the successful merger and stock listing of an emerging electric car company. Lucid Motors, which produces a

The pandemic’s impact on the Greater Phoenix office market appears to have passed its peak with the market stabilizing in second quarter, according to a report from Colliers.  Sublease space additions to inventory have slowed and the market returned to positive net absorption following two quarters of negative activity, according to

Chase is concluding a move of workers to two locations in Tempe, ending a nearly half-century presence in downtown Phoenix as a major employment hub for the bank and its predecessor companies. Chase gradually has been exiting the tower and moving staff to the Discovery Business Campus in Tempe, along with a

The West Valley is a booming community with 1.7 million residents strong and an expected population of 2.1 million by 2030. With big name companies like the Taiwan Semiconductor Manufacturing Company (TSMC) making investments in the region, the West Valley is shedding old perceptions and becoming a

Lincoln Ventures bought a .63-acre parcel of land in Downtown Phoenix for $5,380,000, according to the commercial real estate tracking website Vizzda. The sellers were Wayne Rainey and Jason Merck. The land is located at the southeast corner of Third and Garfield streets in Phoenix. The land purchased by 

Tempe wants to transform a strip of land near the Salt River into a year-round entertainment destination. The city put out a call to developers Thursday seeking proposals for a sports and entertainment district on city-owned land that would be home to a professional sports franchise. The move comes as

The US commercial real estate sales market passed pre-pandemic levels in the second quarter, according to Real Capital Analytics. Activity in the second quarter surpassed the average deal volume trend for the second quarters in 2015 to 2019 by 14%, according to RCA. In addition, investment activity grew at

Texas-based developer Lincoln Ventures just bought land in downtown Phoenix for its third residential high-rise after breaking ground on student housing towers miles away in Atlanta, Georgia, and Austin, Texas. Lincoln plans to build Moontower PHX, a 26-story tower with 327 apartments, first-floor offices and

Even before the Covid-19 pandemic, industrial construction and leasing was moving full steam ahead in Phoenix and other large metros around the country. Once the pandemic hit, that energy was kicked into overdrive. “Industrial didn’t just pick up with the pandemic, it got launched off a battleship,” said

Arizona job growth exploded in June with the state adding 37,800 seasonally-adjusted jobs over the month. That was the largest gain since last June and was six times higher than average monthly job gains from 2015-2019.Over-the-month job gains in June were driven by

GLENDALE, ARIZONA — 303-NP Venture, LLC an affiliate of Clarius Partners, paid $23,357,452.55 ($5.43 PSF / $236,555 per acre) to purchase approximately 98.74 acres of industrial zoned land at the northeast corner of the Loop 303 and Northern Parkway. The property will be used for

While the COVID-19 pandemic may have curbed progress for a lot of businesses in the East Valley, construction showed no signs of slowing down. Massive multifamily housing communities, expansive business campuses, eye-catching mixed-use towers and luxury hotels are transforming the region’s skyline, and

Scottsdale-based Avenue North LLC has big plans to build more single-family rental communities in South Phoenix, where the company already has two projects underway. Plans call for investing $200 million into that South Mountain corridor, said Ryan Hartman, chief vision officer for

The Arizona Coyotes are in talks with Tempe to relocate the hockey franchise from Glendale to the East Valley, according to sources close to the city.Tempe is expected to issue a request for proposals Thursday to attract a professional sports franchise and a developer that will build an arena and

As companies evaluate their need for office space and begin returning to working in person, Ryan Cos. is hoping early planning on an office complex in Chandler will pay off and attract business to the already bustling Price Road corridor. “We are going ahead with entitlements now to get ready for

Phoenix City Council greenlit a 170-acre rental home development in north Phoenix near Anthem earlier this month. The luxury rental home development, to be called Arise North Phoenix, will feature 170 detached units on 16 acres on the southeast corner of Interstate 17 and

Apartment owners and landlords in major U.S. cities are increasingly raising the rent. In 44 of the 50 largest U.S. cities, rents reached record highs, with three cities recording year-over-year rent growth steeper than 20%, according to a report from Realtor.com, an online real estate listings database that gets