New York-based Pure Insurance is moving its regional headquarters to The Galleria. Stockdale Capital Partners signed Pure Insurance to a long-term lease for 40,302 square feet at The Galleria in Old Town Scottsdale. The company will occupy a portion of the second floor, which is enough room to accommodate 250 employees. It joins fellow Galleria tenants TikTok, U.S. Data Security
Identifying the biggest commercial real estate deals in Metro Phoenix beginning in January 2026 provides a real-time snapshot of where capital, confidence and growth are converging. These transactions signal which sectors are expanding, how investors are pricing risk and opportunity, and where infrastructure, jobs and population growth are headed
The United States population is growing at its slowest rate since the height of the coronavirus pandemic, according to recently released U.S. Census Bureau estimates. While that pace is set to ease further across the country, this structural slowdown is likely to amplify post-COVID regional population shifts to lower-density Southern and Western states, with implications for job and housing markets
Kidder Mathews has released its 2026 Western U.S. Market Forecast, offering a comprehensive outlook on the economic conditions, structural shifts, and sector specific trends shaping commercial real estate. The forecast examines commercial real estate trends for office, industrial, retail, and multifamily sectors highlighting where fundamentals are stabilizing, where
Liliana Vidales has more experience than most people with data centers. xAI, a company owned by billionaire Elon Musk, about a year and a half ago established a supercomputer in Memphis, Tenn., where Vidales attended college. The facility, she said, brought “suffocating smog and pollution.”She didn’t want it to happen again in Phoenix, her hometown. So, as city leaders considered whether to adopt a new zoning ordinance on data centers
Last year’s loan maturities represented nearly triple the 20-year average, creating unprecedented refinancing pressure. Refinancing risk for multifamily and commercial real estate debt will remain high for at least the next two years as much of the $957 billion in loans—including $310 billion in multifamily debt—that matured in 2025 received extensions
The Arizona economy continues to grind along at a slower-than-usual pace. Jobs are rising slowly, with reduced hiring and modestly elevated layoffs weighing on growth. Income is also slowly rising, reflecting the post-pandemic deceleration in employment costs, although taxable sales growth has rebounded. House price increases have slowed, but housing cost burdens remain elevated and housing permit activity is down so far this year. Stabilizing house prices have
There’s a new name in luxury in the area where Scottsdale and Paradise Valley converge — an evolution of a classic metro Phoenix hotel, transformed into a contemporary destination resort. Kimpton Miralina Resort & Spa, the $42 million renovation and rebrand of the former Scottsdale Plaza Resort & Spa, opened its doors on Jan. 7 and held a ribbon cutting on Jan. 19. The resort received a nod from Forbes, which featured it on its unranked list of nine hotels opening
Sometimes in commercial real estate, the past does more heavy lifting than the future. The Federal Reserve’s Federal Open Market Committee has not signaled whether it will lower rates again in 2026, but several cuts made last fall are still working their way through the financial system—and that lag may prove decisive for the year ahead. As Trepp Chief Economist Rachel Szymanski points out, the effects of monetary policy move through the economy with the familiar “long
US commercial real estate prices saw varied performance in 2025, with office properties in major markets posting the strongest gains according to CoStar’s Commercial Repeat Sale Indices. Value-weighted office prices rose 3.8% over the year, marking a significant rebound from an 11.4% decline in 2024. The uptick reflects renewed investor confidence in high-value office assets, particularly in markets like San Francisco benefiting from demand in sectors
The U.S. industrial real estate sector is entering a transformative year, shaped by shifting policy and evolving development priorities. After years of elevated supply and slower absorption, vacancies are beginning to plateau, making site selection an increasingly critical factor for new construction. According to a CommercialCafe analysis, the national industrial vacancy rate stood at 9.2% at the start of 2026, more than double the 2022 rate and 120 basis points higher
A Miami-based company wants to turn a chunk of Gilbert farm land into a mixed-use development with a Fry’s grocery store, retail and housing for thousands of people. The Harvest Grove master-planned community will be reconsidered by the Town Council Feb. 3 — two weeks after Council rejected the general plan and zoning changes for 311 acres off Val Vista and Germann roads in a 4-3 vote. Mayor Scott Anderson, Vice-Mayor Chuck Bongiovanni and Council members
A fully leased office building has sold in Tempe as vacancy rates in the Phoenix metro fall to years-long lows. Hohokam Court was acquired in January for $11.7 million by ARC TEMPE 2005 LLC, an entity affiliated with Jake Gallagher of Alignment Realty Capital, according to Tempe-based real estate database Vizzda LLC. ARC was represented by brokers at Lee & Associates, while the sellers were represented by JLL, Vizzda found. The single-story 70,853-square-feet building at
It didn’t take long for tensions to boil over as hundreds of people packed into the Tucson Convention Center last summer for a meeting on a controversial data center. Many residents carried signs decrying the proposal, known by the code name Project Blue. A cacophony of “boos” rang out during the first minutes of panelist introductions. Andrew Squire, a spokesperson for the city, attempted to calm the crowd. “Let’s get to the presentation,” he said. “Allow them to
Location: Signal Butte and Williams Field roads in Mesa. Description: A 125-acre auto mall and commercial shopping center is under construction. Brent Berge is developing the auto mall portion of the project with Berge Auto Group. No auto dealerships have been announced for the project. Sean Lake, an attorney representing the master developer of the site, said several dealerships have toured the site and expressed interest. Berge has other auto dealerships across the Valley, including
Understanding the Top 20 emerging industries in Arizona is essential because they reveal where jobs, investment and innovation are headed. These sectors highlight how the state’s economy is evolving, helping business leaders, policymakers and workers make informed decisions, identify new opportunities and prepare for long-term growth in an increasingly competitive and dynamic marketplace. Here is a list of the Top 20 emerging industries in Arizona, with a brief description of
The development pipeline continues to hum in metro Phoenix at the dawn of a new year. While no project can match the drumbeat surrounding Taiwan Semiconductor Manufacturing Co.’s ever-evolving north Phoenix campus, where tens of billions of dollars will be invested in the coming years, there are still plenty of impact projects in the works beyond the cottage industry of semiconductor-related enterprises that continue to pop up throughout the Valley
In commercial real estate, the bet is no longer that rates will “normalize,” but that they won’t—and that deals still have to work anyway. With a $190‑billion maturity wall bearing down between 2026 and 2028, investors are shifting from hoping for a rate rescue to underwriting a stubbornly expensive cost of capital, accepting flatter yield curves, and relying on lower leverage, cleaner business plans, and demonstrably durable cash flow to justify buying at discounts to
Semiconductor supplier Shin-Etsu MicroSi is planning to expand its operations in Ahwatukee. The company is going through the rezoning process to make way for a 17,182 square-foot industrial flex building near the northwest corner of Elliot Road and I-10. It already operates two other facilities in that business park, where the company is headquartered. The Ahwatukee Foothills Village Planning Committee recommended approval for the rezoning request
CBRE’s January report on investor activity in the CRE space bears a familiar theme: investors in 2026 are definitely interested and ready to increase their investment but remain cautious. The report is based on a survey of investors’ intentions. It showed that 70% of investors plan to buy more CRE, while an additional 20% will keep it at the same level. Less than 5% intend to buy less than in 2025. In 2025, just 48% of investors planned increased allocations to CRE. More
The U.S. hotel industry continued to show a clear performance divide across property classes in 2025. High‑end consumers, still willing to pay for premium experiences, boosted demand at luxury hotels. Revenue per available room, or RevPAR, for the luxury hotel segment rose 3%. In contrast, consumers with less disposable income pulled back on both travel frequency and spending, leading to a 4.4% decline in RevPAR among economy class hotels. Many economists
For the first time since July 2025, the Federal Reserve’s Federal Open Market Committee left interest rates unchanged—a move widely expected across markets as policymakers hold steady amid balanced but uncertain economic signals. Analysts say the same could follow in March as the Fed watches to see how past rate cuts ripple through the economy and inflation trends. “Given the more likely FOMC view hat dual risks of inflation and unemployment are mostly in balance, we should not expect any
The U.S. economy is still growing, but for commercial real estate investors, the more important story may be where growth is not showing up: payrolls. In a recent Marcus & Millichap webinar on the 2026 outlook, Moody’s Analytics Chief Economist Mark Zandi described a market in which restrictive immigration policy has slowed labor force growth so sharply that job creation has “come virtually to a standstill,” even as GDP expands at a solid clip. That divergence, he
City Winery, a heralded winery, restaurant, live music venue and multi-functional events space concept, has signed on to open a 30,000-square-foot location in Scottsdale. The New York-based business that started in 2008 and now has 12 locations mostly on the East Coast, will be opening in the Sydney, a $100 million entertainment-driven retail development on a 26-acre site on Salt River Pima-Maricopa Indian Community Land near 90th Street and the Loop 101 freeway Construction on the three-story City Winery
CapRock Partners, a privately-owned investor and developer of industrial real estate in the Western and Central U.S., today announced the completion of CapRock West 202 Logistics – Phase 2, marking the final phase of Phoenix’s largest speculative industrial development. Phase 2 delivers 825,000 square feet of Class A warehouse space across three buildings on 43 acres in the Southwest Phoenix submarket. With its completion, CapRock West 202 Logistics now totals 3.4 million square feet of modern