A BMX track, luxury apartments and an industrial complex are all under construction in the East Valley. Mesa is building a BMX track at its Signal Butte Park in the eastern part of the city. Hundreds of new luxury apartments are going up in Scottsdale’s historic Old Town district. A two-building Class A industrial complex is under construction, streets away from Interstate 10 and Loop 202. Here’s what is under construction in metro Phoenix and when each project
The Desert Ridge area north of Paradise Valley has turned into a hot spot for developers wanting to scoop up prime state-owned land in recent years. One of the highest-priced state land auctions last year happened when Mortenson outbid Verde Investments for over 200 acres in the area, spending $136 million for a site now planned to become a new Arizona Cardinals training campus. And major national homebuilders turned out to bid on about 53 acres of residential land by the
State Route 30, the Tres Rios Freeway, is poised to play a pivotal role in the West Valley’s growth, influencing transportation efficiency, development patterns, and long-term economic competitiveness across the Buckeye-Phoenix corridor. SR 30 will be parallel to I-10 about 5 miles to the south. “There’s going to be a tremendous number of additional vehicles from just the population growth we’re seeing all over the West Valley, but specifically in Buckeye,” says Buckeye Mayor
Demand is increasingly shifting toward inland and lower-cost markets. After slowing down in 2023 and 2024, leasing demand for warehouses of 500,000 square feet or larger bounced back sharply in 2025, most notably in the second half, according to new research from Cushman & Wakefield. Their Large-Format Deals Return report found that those larger deals surged by 32 percent year-over-year, and that third-party logistics providers (3PLs) and manufacturers accounted for almost
It’s estimated that $7T will be invested worldwide into data center infrastructure over the next four years — with more than 40% of that in the United States alone. Propelled by the advancement of artificial intelligence, commercial real estate’s hottest sector is poised for an era of explosive growth. But to grow and expand at this pace, it’s crucial for owners, developers and end users alike to think about their power usage and storage needs. By the end of 2024, data centers in the U.S.
The K-shaped economy, spending patterns and aspirational shoppers will be vital to both brands and landlords. Luxury retail entered 2026 with a sense of cautious optimism. While luxury spending isn’t as robust as 2023, the market contraction of the past two years has slowed, and landlords and retailers are seeing a period of evolution influenced by a K-shaped consumer landscape. While affluent buyers continue to drive demand, tighter budgets for middle-income consumers
Retail sales grew again in February on both a month over month and year over year basis. Core retail sales (excluding restaurants, auto dealers and gas stations) inched up 0.28% month over month in February and were up 6.24% year over year, according to the CNBC/NRF Retail Monitor released Wednesday, March 10, by the National Retail Federation. Those figures compare with increases of 0.2% month over month and 5.72% year over year in January 2026. Total sales were up
The Desert Ridge area north of Paradise Valley has turned into a hot spot for developers wanting to scoop up prime state-owned land in recent years. One of the highest-priced state land auctions last year happened when Mortenson outbid Verde Investments for over 200 acres in the area, spending $136 million for a site now planned to become a new Arizona Cardinals training campus. And major national homebuilders turned out to bid on about 53 acres of residential
Once a destination for gambling, cheap hotels and all-you-can-eat buffets, Las Vegas is now more known for celebrity chefs, fancy restaurants, hot night clubs and big-name entertainment. About 300 miles southeast of the Strip, a growing number of professionals in the Valley’s hospitality and food and beverage industries are trying out the same playbook — and so far, it has proven successful. The tribal casinos around the Phoenix area have made significant investments and marketed
From hosting PGA tournaments and the kickoff of Taylor Swift’s world tour to an expanding tech sector ecosystem, the Valley’s calendar is packed year-round with events that draw hundreds of thousands of visitors to Phoenix and its surrounding cities. That steady stream of tourism, and the pressure it puts on lodging, has helped fuel a surge in hotel construction across the metro area as developers race to keep pace. “We have a large hotel pipeline right now, and a lot of it has to do
Through smart planning, savvy investing and stakeholder alignment, the Valley’s reputation as a nascent industrial powerhouse is spreading. TSMC’s $165 billion campus in North Phoenix is symbolic of the region’s transformation away from the boom-bust cycle that left it vulnerable during the 2008 financial crisis and towards a more resilient, diversified economy. To help meet the demand generated by TSMC’s substantial investment, Mack Real Estate Group (MREG) and McCourt Partners
Twenty years ago, when we first began talking about transforming the site of a former struggling retail center in south Scottsdale into an innovation hub, more than a few people were skeptical. Could a university-anchored innovation center really thrive in the middle of the desert? Would global companies choose to locate high-wage jobs in a place better known for resorts and retail? Could a public-private partnership anchored by Arizona State University truly spark a new kind
New data shows that Arizona installed a record amount of solar capacity last year Arizona added nearly 2-gigwatts of solar power, bringing the total amount statewide to about 11.5 gigawatts. To put that in perspective, APS’ peak demand last year was more than 8 and a half gigawatts. The gains were the largest among utilities, followed by residential and commercial sectors. While Arizona added a record amount, the rest of the nation saw a decline in solar installation. That drop came
More families are finding homes in their price range, as the Greater Phoenix housing affordability index increased from 71 to 77 in February, and the number of homes in inventory rose 8.3%. This means that 77% of households with an income equal to the region’s median can afford the median-priced home, according to home sales data from Phoenix REALTORS®. “March until May are normally the best months for selling homes in the metro,” said Sammy Glassman, president
Following five years of disruption, the Phoenix office market took a step toward recovery in 2025. The vacancy rate for traditional office buildings fell from a record high of over 24% in 2024 to 23.3% by the end of last year. While the improvement was gradual and kept vacancy in the Valley’s office market above levels seen during the worst of the Great Recession, the inflection point is an important sign that conditions are no longer worsening and that the long road to recovery
per Trillium Management president Kenneth Losch. A swanky, landmark hotel in north Phoenix that’s been shuttered for several years will get new life as “attainable luxury” apartments near the planned Metrocenter mall redevelopment. Why it matters: That area of north Phoenix is in the midst of a massive transformation and the redevelopment of the Sheraton Phoenix Crescent will add to the area’s renewal. The big picture: Foundation 8, a partnership between Trillium Management
Chicago-based Belgravia Group topped out the first phase of Atavia, its 88-unit Scottsdale luxury condominium project it’s developing across the street from its 112-unit Portico. Upon completion, Atavia will total 14 four-story buildings with homes priced between $860,000 and $1.7 million in a gated community within DMB Associate Inc.’s $1 billion One Scottsdale mixed-use project at the northeast corner of Scottsdale Road and Loop 101. Homes will range between 1,570 and 3,015
Arizona is outpacing the nation on income and hiring even as U.S. job growth stumbles, according to research from the Economic and Business Research Center (EBRC). Total U.S. nonfarm payroll employment slid 92,000 in February, and the unemployment rate changed little at 4.4%, based on the Bureau of Labor Statistics employment situation release. Employment decreased in health care (-28,000), information (-11,000), federal government (-10,000), and transportation
New data shows that Arizona installed a record amount of solar capacity last year. Arizona added nearly 2-gigwatts of solar power, bringing the total amount statewide to about 11.5 gigawatts. To put that in perspective, APS’ peak demand last year was more than 8 and a half gigawatts. The gains were the largest among utilities, followed by residential and commercial sectors. While Arizona added a record amount, the rest of the nation saw a decline in solar
Phoenix-based retail developer Vestar has its sights set on two pieces of vacant desert land owned by the state of Arizona that it wants to scoop up at auctions sometime this year. Both sites are just east of Interstate 17 – across from TSMC Arizona’s sprawling campus and in an area slated for millions of square feet of new commercial development and thousands of new housing units. The first property Vestar wants to develop totals about 186.8 acres, spanning from Dove Valley
Location: 85th and Grand avenues in Peoria. Description: It may not look like it, but a 200-unit apartment and townhome complex that had its groundbreaking ceremony in May 2025 is still planned for downtown Peoria. Peoria Gateway will have 15 three-story buildings, according to a website dedicated to the project by real estate investment firm Viking Capital. There will be 120 one-bedroom units, 56 two-bedroom units and 24 three-bedroom units. The complex was previously going
The Arizona Office of Economic Opportunity has released its Arizona 2025-2027 Projected Employment Report, and the Construction sector falls toward the middle of the pack with an annualized percentage change of 0.3%. Overall job growth across sectors is set at an estimated 0.7% annually from Q2 2025 to Q2 2027. In its sector summary, the report says, “Construction is expected to add 1,296 jobs (0.3% annually) from 228,097 in Q2 2025 to 229,393 in Q2 2027. Continued
BPR Companies announced the official groundbreaking on EQT Real Estate Commerce 303, a 497,234-square-foot cross-dock speculative warehouse strategically located in the rapidly expanding West Valley industrial market. Situated on a 70-acre site at 15600 W. Camelback Rd., Glendale, Arizona 85340, Commerce 303 is designed to meet the evolving needs of modern logistics and distribution users. The state-of-the-art facility will feature 40-foot clear heights, tilt-up
Foreign investment into U.S. real estate remains resilient, though over the past year some investors have paused to recalibrate their strategies. Others are sitting on the sidelines amid geopolitical uncertainty, currency fluctuations and shifting return expectations. Cross-border acquisition volume reached approximately $31 billion, down 11 percent from $34.7 billion in 2025, according to James Nelson, principal & head of U.S. investment sales at Avison Young. “This pullback