Settled in the East Valley, Tempe, a city lined with red bricks, bustling roads, a sparkling lake that borders its college campus and the iconic Mill Avenue, is seeing new developments and revitalization to its 131 years of history. Despite the restrictions Tempe Town Lake poses, the city continues to find different ways to expand within its limits as its population increases and its lifestyle shifts to an
As the multifamily industry turns the page to 2026, the lending environment is defined less by scarcity and more by selectivity. Capital is plentiful, and the government-sponsored enterprises’ (GSEs’) lending caps have expanded; however, lenders are being more strategic and disciplined. “Big picture, if you look at the multifamily lending market right now, it’s clear we’re
Even as the U.S. office sector ended 2025 with a 9.6% year-over-year decline in leasing volume, Avison Young’s just-released Q4 2025 U.S. office market overview points to a surge in both lending to owners and venture capital investment in occupiers. Lending activity rose 92% Y-O-Y to reach $45.8 billion in originations, with trophy and Class A properties capturing the lion’s share
On Jan. 21, DSV broke ground on its new Arizona regional headquarters in Mesa on Wed., January 21. The $14.5 million investment supports Arizona’s high-growth industrial sectors with a 950,000 square foot facility that will serve as a hub for DSV customers and house all service offerings, including air, sea, and road transport, and contract logistics, including inventory management
The Latino grocery store chain Vallarta Supermarkets this week expanded beyond California for the first time. The grocer opened a new location Jan. 14 in Glendale, Arizona. The store, which was announced in October, sits at 5836 W. Camelback Road and spans more than 49K SF. Vallarta, a family-owned company, has some 60 grocery stores in California. The opening in Glendale, a
A dozen Arizona chefs, mixologists and restaurants are James Beard Award semifnalists. Why it matters: The coveted culinary honor celebrates the best in the industry and a win often takes chefs and their restaurants to new heights. Zoom in: This year’s Arizona nominees include some long-timers and a few fresh faces. Outstanding chef: Charleen Badman, FnB (Scottsdale)
Vallarta Supermarkets, the Southern California-based Latino grocery store, is preparing to open its second location in Arizona later this year. The grocery chain just opened its first Arizona store this month in Glendale in the Grandview Plaza shopping center — at the northeast corner of 59th Avenue and Camelback Road — and already is working on its second location. The company’s next store
The U.S. multifamily sector closed 2025 with easing demand, elevated supply, and rent growth that flattened after nearly two years of modest gains. The past year was marked by deceleration across several indicators as the market continued to adjust to three consecutive years of substantial new completions. Demand remained healthy but stepped down from the previous
Real estate fundraising has bounced back, increasing 29 percent year-over-year to $222.2 billion in 2025, according to the latest PERE fundraising report. This represented the first annual volume growth since 2021. Investors, however, were not as convinced on the multifamily front alone, with capital earmarked for such assets making up 32 percent of fundraising in 2025, down from 49 percent
In 2019 and 2020, Old Town Scottsdale residents and business owners were sharply divided by two words: Museum Square. As the Progress reported in a series of articles, the planned Old Town development needed – and, apparently, received – the blessing of its neighbor, the Gateway at Main Street condos. But was the removal of Gateway-city deed restrictions on neighboring development heights fairly
Arizona’s real estate and housing market is showing signs of balance heading into 2026, according to the Arizona Association of REALTORS® 2026 leadership team. REALTORS® across Arizona are optimistic that a more stable market is emerging, giving buyers and sellers more confidence to move forward after several years defined by higher interest rates, limited inventory
The level of commercial/multifamily mortgage debt outstanding ticked up by 1.1% or $53.4 billion in the third quarter of 2025, according to the Mortgage Bankers Association’s (MBA) latest Commercial/Multifamily Mortgage Debt Outstanding quarterly report. Total commercial/multifamily mortgage debt outstanding rose to $4.93 trillion at the end of Q3. Multifamily mortgage debt alone increased
Taiwan Semiconductor Manufacturing Co. is speeding up construction of its Phoenix “gigafab cluster” after seeing record-breaking earnings last quarter, chairman and CEO CC Wei announced on a Thursday morning investor call. Why it matters: TSMC’s Phoenix campus, which began production in 2024, advances a broader U.S. push to reduce reliance on Taiwan, increase domestic chipmaking
Brad Wright, president of Kovach, has never been busier, and it’s easy to understand why. As a leading designer, manufacturer and installer of commercial building enclosures, Kovach is spearheading numerous projects across the Valley, including Taiwan Semiconductor Manufacturing Company (TSMC). Kovach’s projects — including TSMC, Intel, the Phoenix Mercury Training Facility and
Creation, a Phoenix-based real estate developer, is behind the more-than-16-acre project, which will comprise a mix of four one-story office and warehouse buildings. The Loop’s modern facilities — totaling 267,640 square feet — are designed to accommodate tenants and businesses that need space for industrial showrooms, light manufacturing, skilled assembly and distribution, Creation boasted. “With
Phoenix is set to open more new hotels rooms in 2026 than almost any other major city in the U.S. Data released this month by CoStar showed that 3,650 new hotel rooms are projected to open in Phoenix this year. The only city with more rooms projected to open in 2026 is New York, with 4,852. Phoenix beat out Dallas (3,558 rooms), Orlando (1,988 rooms) and Miami (1,954 rooms) with more hotel
It may be standard practice for some to greet the new year – any new year – with declarations of guarded, cautious or restrained optimism. Yet in many respects that fairly describes this moment for multifamily investors. That’s a topline assessment from Walker & Dunlop’s Kris Mikkelsen, the firm’s executive vice president and co-head of their national Capital Markets group. Since assuming leadership
Multifamily rents ended 2025 where they started, according to Yardi Matrix’s National Multifamily Report. The U.S. average advertised rent decreased $5 to $1,737 in December, with year-over-year growth dropping 20 basis points to 0%. “Years without growth are rare. The last one with no average national advertised rent recorded was the 2020 pandemic year,” noted the report. “Before that, the last
Asking rents declined for the 29th consecutive month year over year in December, but the latest data show the easing is increasingly concentrated among higher-priced rentals, leaving many lower-cost renters with little relief. The median asking rent across the 50 largest U.S. metros was $1,689, down 0.7% from December 2024, according to the Realtor.com® December Rental Report. Metro
Paul Ruffino owns a home in north Scottsdale’s Troon area but lives with his wife and two daughters in a luxury rental house in north Phoenix where they have a trash valet and resort-style amenities. He’s part of a growing group of renters-by-choice, who are opting for maintenance-free homes and apartments with garages that are located in popular locations and cost less than a mortgage
Scottsdale homebuilder Taylor Morrison has taken the wraps off its newest luxury master-planned community, Verdin, in far northeast Phoenix. The 473-acre project within the Deer Valley School District has room to build out as many as 1,225 homes. It boasts five home collections with single- or two-story floor plans and 10 model homes are now open. Taylor Morrison acquired the land in
Sunlit Arizona, a chemical supplier to the semiconductor industry, bought 40 acres in Casa Grande for $9.2 million, growing the already large presence of semiconductor industry suppliers in Pinal County. Sunlit, which is based in Taiwan, already has a large presence in Arizona. It was one of the first suppliers to announce a location in Arizona following Taiwan Semiconductor Manufacturing Co.’s 2020 announcement to build a massive manufacturing facility in Phoenix
Taiwan-based TSMC, the world’s largest computer chipmaker, plans to increase its capital spending by as much as nearly 40% this year after it reported a 35% jump in its net profit for the latest quarter thanks to the boom in artificial intelligence, the company said Thursday. TSMC has pledged around $165 billion of investments in the U.S. and said Thursday it’s speeding up construction of new plants in Arizona, looking to create a fabrication plant cluster and meet
Renewals, pricing discipline and asset-level fundamentals will separate outperformers from the rest. The SFR/BTR sector heads into 2026 with a more measured—but resilient—outlook. After a surge of new supply tested absorption in parts of the Sun Belt, fundamentals largely held steady through late 2025. Occupancy remained high, rents stabilized, and interest-rate-constrained would-be buyers continued to extend their time in rental housing, reinforcing demand even as
PHOENIX, Jan. 15, 2026 /PRNewswire/ — Real estate investors purchased over 34% of all single-family residential properties sold in the third quarter of 2025, the highest percentage in five years, according to the Q3 2025 Investor Pulse™ Report from BatchData. This share increased from 33% in Q2 2025 and rose nearly eight points from 25.5% in Q3 2024. Currently, investors own roughly 18% of the nation’s 86 million single-family homes. The Investor Pulse Report, prepared