June 9, 2023

Amazon.com’s newest facility in Mesa is one of the largest of its kind in the country. The Seattle-based company opened a new 1.2 million-square-foot storage and distribution center Friday at 8560 E. Elliot Road, just off the Loop 202 in Mesa. Going by the name KRB9, the

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Grocery stores are using technology to reach out to shoppers on-site, and over the next couple of years the experience is expected to be completely different compared to how it is today. In late May, Kroger announced it was expanding its retail media strategy with the

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Following several years of rapid growth, the single-family build-to-rent sector is expected to record an uneven performance in 2023, according to Northmarq’s Single-Family Build-to-Rent Special Report, which highlights the sectors mixed conditions after

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A key takeaway from the National Association of Real Estate Editors’ annual conference is that the single-family build to rent sector is encountering both prosperity and headwinds. While institutional investors in single-family houses have tightened their purse strings in

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June 8, 2023

In May, the US retail trade sector added 11,600 jobs in May, up from the 10,000 added in April, when adjusted for seasonal changes. However, the US Department of Labour Statistics considers this increase as “little changed over the month” due to the modest

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Multifamily performance remains steady despite the looming threat of a slowing economy. U.S. asking rents saw a $7 increase in May to $1,716, while year-over-year growth decelerated to 2.6% nationally, 70 basis points less than April and the lowest level since

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On June 1, 2023, the Arizona Department of Water Resources (“ADWR”) released a new groundwater model for the Phoenix Active Management Area (“AMA”) through ADWR’s Assured Water Supply (“AWS”) program.  The model covers the Hassayampa and East and

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As more companies upgrade their technology, data center space has become limited across the country and has helped push Phoenix to the top tier of metro areas for new data center development in recent years. The second half of 2022 saw about 124 megawatts of

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Arizona Boardwalk at Talking Stick announced last week that it has leased an additional 48 acres of land for future expansion. The land, located in the Salt River Pima Indian Community, was leased for an undisclosed amount from landowner allottees, according to

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June 7, 2023

Although economic indicators are giving conflicting signs, the nation does not appear to be in a recession and should be headed toward a soft landing from inflation and high-interest rates. “Today’s economy is a lot like looking into a kaleidoscope, with the

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Near the midpoint of a year that was widely predicted to see continued uncertainty in investment and development across all commercial real estate sectors, the industry appears to be adapting. Insights from a June 1 CPE Voices webinar moderated by Editorial Director

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In 1975, the O’Jays released “Give the People What They Want” and it became a hit song for the group and paved the way for the R&B group’s induction into the Rock and Roll Hall of Fame in 2005. Despite the passage of nearly 50 years, the group’s seminal message

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In north Phoenix, the beginnings of Arizona’s largest foreign direct investment, the $40 billion Taiwan Semiconductor Manufacturing plant, are easy to see as tower cranes dominate the landscape. But more than 80 miles away in Casa Grande, the ripple effect

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It’s been a housing market roller coaster the past few years with no shortage of news about record-high prices, outrageous negotiations (like all-cash deals and cars), and questions about if there’s a bubble and if it’ll burst. The pendulum swung from a

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June 6, 2023

U.S. CMBS loan defaults edged lower in 2022 as post-pandemic stabilization of asset performance and property cash flows continued, according to Fitch Ratings. However, the rating agency also reported that the pace of defaults accelerated in

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Rockefeller Group, the U.S. real estate developer, owner, and operator, announced today that it has acquired two sites for the development of 152 build-to-rent townhomes. The two sites, approximately 1.75 miles apart, total 16.5 acres and are located in Phoenix’s booming

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Even though Phoenix continues to outpace the nation for construction cost increases, project starts picked up at the end of the first quarter, according to Mortenson’s latest Construction Cost Index report. Nonresidential construction starts rose 19% in March, coinciding

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Metro Phoenix welcomed an array of exciting new restaurants and bars over the last month, including five new fried chicken restaurants, three new breweries and two bubble tea shops.Satisfy your sweet tooth at Sugar Factory, CookieRush, Fluffy Cakes or the newest

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As of 2023’s first quarter, the average multifamily rental unit is $699 less than the total median monthly home payment, Newmark said in its Q1 United States Multifamily Capital Markets Report. “Renting has become significantly more economical than

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June 5, 2023

The White House has designated Phoenix as a workforce hub to help meet the demand for qualified and diverse talent in semiconductors, renewable energy and electric vehicles. Phoenix was picked as one of five hubs dedicated to building up a workforce, specifically because

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A group of business leaders representing electric and autonomous vehicle sector giants Lucid, Waymo, Nikola, and Cruise gathered in Phoenix last week for a panel discussion about the future of their industries in Arizona and nationally. Moderated by Arizona Commerce Authority

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Global investment firm KKR has acquired $250 million of industrial properties through its KKR Real Estate Partners Americas III fund. The acquisition signals that KKR is weighing more of its opportunistic real estate investments to stronger performing property sectors. KKR Real Estate

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Arizona will tap the brakes on new development in some parts of Greater Phoenix, Gov. Katie Hobbs announced on Thursday. The move won’t halt new construction in the state’s largest metro area, but it will certainly slow some forms of growth and could push

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Metro Phoenix home sales are down, but prices are up. A short supply of Valley houses for sale is boosting home values. The median home price ticked up $5,000 in April and is expected to be up another $9,000 in May. Higher interest rates aren’t deterring all

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June 2, 2023

A northwest Phoenix apartment development near the Taiwan Semiconductor Manufacturing Co. plant got zoning approval for 226 units from the City Council Wednesday night. The project at 17th Avenue and Happy Valley Road has drawn criticism from

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