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
Fort Lauderdale may sit atop Marcus and Millichap’s 2026 multifamily rankings, but the real story is how a diverse mix of Sun Belt gateways and tech‑driven hubs are winning on the same fundamentals: tightening vacancy, sharply curtailed construction and renters effectively locked out of homeownership. Together, these forces are concentrating capital in a select group of markets where modest job gains, AI‑linked hiring and demographic tailwinds are still powerful enough to support rent growth even
Population growth slowed significantly across the United States between 2024 and 2025, thanks largely to a sharp drop in net international migration, the latest report from the U.S. Census Bureau shows. That trend held true in Arizona, as well, according to the Census Bureau’s Vintage 2025 population estimates released Tuesday. Even so, the Grand Canyon State remained one of the fastest-growing states in the nation
Consumers maintained robust spending in late 2025, according to new Bureau of Economic Analysis data released last week that had been delayed by the federal government shutdown. However, shoppers increasingly dipped into savings accounts to get through the holiday season, reducing the personal savings rate to a three-year low. And with year-over-year real spending growth outpacing disposable
The West Valley city of Goodyear is poised to get a new master-planned community near Estrella Mountain. Goodyear City Council approved a general plan amendment and rezoning request at a Jan. 26 meeting for Rio 1900 – a development proposed by Harvard Investments. The project would bring thousands of new homes and apartments, retail, dining and even a potential resort to the area near Estrella
Arizona is in the middle of another shift in how housing gets planned and built, and for real estate investors, one change worth paying close attention to is House Bill 2721, often referred to as the state’s “middle housing” law. In simple terms, HB 2721 – which went into effect on Jan. 1 – requires larger cities, including Phoenix, to allow certain small-scale multifamily housing types such as duplexes
On most headline metrics, institutional multifamily still looks healthy: demand is intact, rent growth has not collapsed and agency delinquency remains low by historical standards. Yet beneath those aggregates, a specific slice of loans is drawing attention inside credit committees and loan sale shops: the 2021–2022 vintages. Trepp’s research team has been flagging this cohort as the point where “post‑GFC conservative
The global retail giant is leasing a 1,063,188-square-foot building at West 202 Logistics – a sprawling industrial infill industrial project off the I-10 and Loop 202 interchange. Amazon currently leases millions of square feet across about three dozen facilities throughout the Phoenix metro for its warehousing and distribution operations. This new space is just west of downtown Phoenix
A manufacturer of distribution transformers has acquired a large industrial building in the Phoenix area with plans to open a new facility. Electric Research & Manufacturing Cooperative, also known as ERMCO, purchased the 566,121-square-foot distribution building in Waddell for $90.58 million, or $160 per square foot. Indicap and Invesco were the sellers of the property, which is located
Workers were not the only ones coming back to offices last year. Stable interest rates, improving supply-and-demand fundamentals and broader agreement on pricing underpinned a surge in building sales in the beleaguered sector. Office sales volume for 2025 was more than $56 billion, an increase of $10 billion from 2024, according to CoStar’s preliminary year
After several years of retreat, regional banks are dipping their toes back into commercial real estate lending—signaling fresh confidence as interest rates ease and underwriting tightens. The change marks a notable reversal from the pullback that followed the Federal Reserve’s rapid rate hikes in 2022, when looser underwriting standards and rising costs made CRE
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
Carol Schillne and Cole Schillne with ORION Investment Real Estate represented the tenant, JING, a popular Colorado-based Asian restaurant concept, in a long-term lease. The Schillne Retail Team represented JING of Denver, Colorado, in a retail lease at the Shea Scottsdale Shopping Center, 10605 N. Scottsdale Road, Suite 101, in Scottsdale. A new JING occupies the 9,200 SF space of a former
Opposition is mounting regarding another Valley data center project. Last month, a planned $2.5 billion, 422,000-square-foot artificial intelligence data center championed by former U.S. Sen. Kyrsten Sinema was voted down by Chandler City Council, which rejected a rezoning and development agreement for the project after a marathon meeting that featured significant public
Los Angeles-based Stockdale Capital Partners plopped down $110.25 million for its second multifamily acquisition in metro Phoenix. The Jan. 22 acquisition of Avant at Fashion Center in Chandler represents the largest multifamily transaction sale by total price in metro Phoenix so far this year, according to CoStar Group/Homes.com and Northmarq research analysts. The 335-unit property was 94% occupied
Renter urgency may be poised to rise after more than two years of historically low pressure, according to a new analysis from Apartment List that tracks how quickly renters plan to move when beginning their apartment search. The findings are based on aggregated responses to the question “How important is your move-in date?” which users answer when signing up on the Apartment List platform. Since
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
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