When e-commerce and online ordering started gaining traction, some said this would mean the end of in-person shopping, putting brick-and-mortar stores at risk. And when the COVID-19 pandemic shut down the world, fears emerged that physical retail was doomed. None of that
Multifamily demand expanded at the highest rate since 2021 during the third quarter of this year, with 176,000 units absorbed in an indication of a strong net change in occupancy. While the second quarter historically has the highest demand for apartments, this year the third quarter
Tempe’s lakeside strikes a certain chord for corporate office users — and developers continue to make the investments needed to keep it that way. Even in the post-pandemic world, when most office market reports show that companies are shedding more space than they are
The median and average sale prices of Scottsdale homes that closed last month soared well past September 2023. The median price of the 268 homes that sold here last month was $1.14 million – 14.1% above the September 2023 median – according to Phoenix Realtors, Arizona’s
After the last few years, a challenge for commercial real estate is knowing when to start investing again. Have markets hit bottom? Still, sinking down? The Federal Reserve cut rates by 50 basis points in September. Will they come down further? There’s no guaranteed timing for investment
A thundering roar of jets accompanied the opening of Amazon’s newest warehouse on Oct. 23 in metro Phoenix, just minutes away from Luke Air Force Base in the Glendale area. The 1 million square-foot building, located at 15301 W. Northern Ave., is one of three that opened this fall in
Electric Pickle, an electrifying new concept blending pickleball, outdoor entertainment and a 12,000-square-foot, two-story globally-inspired restaurant, is gearing up to open its 4.5-acre flagship location in Tempe on Dec. 16. Located near Interstate-10 and Warner Road, just south of
Developers of the former Fiesta Mall site surpassed a major hurdle Tuesday after Mesa’s planning and zoning board gave them the green light to rezone the area. The project is now dubbed Fiesta Redefined and aims to reinvent the 80 acres that was once a premier mall in its
After the last few years, a challenge for commercial real estate is knowing when to start investing again. Have markets hit bottom? Still, sinking down? The Federal Reserve cut rates by 50 basis points in September. Will they come down further? There’s no guaranteed timing for investment success
All but one of the four indices comprising the National Multifamily Housing Council (NMHC) October 2024 Quarterly Survey of Apartment Market Conditions indicated more favorable conditions this quarter. The Sales Volume (67), Equity Financing (63) and Debt Financing
Three of the most popular retailers in the country, Walmart, Target and Costco each call upon distinct strengths and strategies that cater to their unique customer bases, allowing them to thrive in a highly competitive market, according to a new Placer.ai white paper. Titled Retail Giants in
Mesa City Council has approved four key items to make way for a new auto mall in the southeast part of the city. Council voted 5-0 at its Oct. 21 meeting to approve general plan character area type, a land rezoning, a development and pre-annexation development agreement for
The U.S. Department of the Treasury’s Community Development Financial Institutions (CDFI) Fund announced on Wednesday that it has awarded 48 organizations a total of $246.4 million to develop affordable housing and community facilities. The funding is expected to result in
The U.S. Conference of Mayors is traveling the country to urge the next president to ramp up federal funding to cities for affordable housing projects. Why it matters: The lack of housing supply in the Valley has driven up prices and exacerbated the state’s homelessness problem
With positive data on the health of the job market recently raising hopes for a soft landing, the Federal Reserve’s fight to tamp down on the last leg of inflation has come into focus. Yet one persistent challenge has been housing costs, with year-over-year increases in the
There are encouraging indications that prospects for multifamily deals are looking up, according to the National Multifamily Housing Council’s survey of market conditions. Indexes of sales volumes, equity financing and debt financing all reached their highest levels since April 2022. However, the market
The Market Tightness Index came in below the breakeven level for the ninth consecutive quarter, indicating looser market conditions. Beyond the headline number of 37, there was a 13-percentage-point increase in the number of respondents who thought the market was looser now than
Link Logistics has sold the Phoenix Gateway portfolio, a six-building industrial collection totaling about 860,200 square feet in Phoenix. EQT Exeter paid $143.2 million for the assets in all-cash transactions, public records show. Located in the Airport submarket, the facilities were fully leased at the
Tempe is planning a new housing and shopping hub at a recently purchased Food City Plaza in north Tempe. This latest purchase is one of six projects planned by Tempe to increase housing. No development partner has been announced yet. “We are at the very early stages. We closed on the transaction on
America’s housing stock continues to grow faster than it did before the pandemic-induced housing frenzy, as builders race to fill a shortage of 4.5 million homes. The latest analysis from Zillow® shows roughly 1 million single-family homes were completed in 2023, the second-highest annual
Seattle-based Amazon.com Inc. (Nasdaq: AMZN) has bought a 220-acre site in Laveen for a potential data center campus in Phoenix. Amazon acquired the site for $277 million in cash through its subsidiary Amazon Data Services, according to land records and Tempe
Metro Phoenix’s growth has shifted to the west and will be heading that way for decades. The West Valley is dominating the home building market and land sales. Apartment, retail and industrial development are taking off in the area, too. New homes are going up or are
Scottsdale-based Aread Inc. has closed on hundreds of lots with homebuilders at its Skyline Village master-planned community in Pinal County, south of Phoenix, with more closings in escrow. The 300-acre development in San Tan Valley on the southwest corner of Skyline Drive and Quail Run is
Glendale had a chip on its shoulder for decades. It was older than the fancier new burbs taking shape in the East Valley, smaller than neighboring Phoenix and lacking the excitement of tourist destination Scottsdale. Why it matters: That chip fueled impatience in city leaders, who took a series of big
For decades, Phoenix has been the poster child of housing growth in Arizona. Now it’s the suburbs and exurbs’ time to shine as people increasingly turn to less dense, more affordable communities. But what are the fastest-growing housing markets in Arizona? Our recent study of housing