The pandemic is now just a thing of the past for many office landlords and commercial real estate services firms, with leasing and sales demand officially meeting or surpassing 2019 levels. Executives behind some of the largest landlords and brokerages in the United States say the office market has rounded an important corner, pushing some firms into record dealmaking territory after years of lower demand as a result
Arizona’s rapid population growth is reshaping the healthcare real estate market, bringing both opportunity and strain. As new communities take root across the Valley, providers and developers are being asked to deliver care in ways that are more convenient, cost-effective and patient-centered. Two themes dominate the conversation in 2025: the shift toward outpatient and community-based care, and the mounting financial
Cap rates have been taking center stage as investors and lenders navigate a shifting landscape characterized by persistently high interest rates and compressed risk premiums. The third quarter saw the average cap rate across all commercial property types at 6.34%, nearly matching the average interest rate of 6.57%, leaving a razor-thin spread of just 23 basis points, according to the latest CRED iQ data
After a year of rent softening, the U.S. apartment market is gearing up for renewed growth. According to RealPage Market Analytics, average market-rate effective asking rents are projected to climb 2.3% in 2026, rebounding from a 0.7% decline for the year ending in October 2025. The outlook points to a broad-based upswing, with 11 of the nation’s 50 largest markets expected to see rent gains of 3% or higher
Knowing the 20 largest employers in Arizona offers valuable insight into the state’s economic drivers, workforce trends and key industries shaping growth. Whether you’re a job seeker, policymaker, or business leader, understanding where the jobs are — and where opportunity is growing — can help you make smarter, more strategic decisions. Here are the 20 biggest employers in Arizona in 2025, based on data collected
A key factor in the performance of the U.S. apartment sector over the past two years has been the large number of new units added to supply, an increase that far outpaced demand — particularly in the South, Southwest and Mountain West regions. This imbalance has resulted in elevated vacancy rates and falling rents. The tide has finally begun to turn this year, with deliveries of new apartment units projected to decline by nearly
The Scottsdale 101 Shopping Center, located at the southwest corner of the Loop 101 freeway and Scottsdale Rd. in Phoenix, announces five tenant updates, including three restaurants, one wellness center and one entertainment venue. The shopping center, managed by YAM Properties, welcomes the opening of Rodizio Grill, the rebranding of Bowlero to Lucky Strike and Coconuts Fish Café to Maui Fish House, and the arrival of
Full-service commercial real estate firm Lincoln Property Company (Lincoln) has announced the completion of I-10 International Phase I, its first-ever ground-up industrial development in Tucson, Arizona, and the newest addition to Southern Arizona’s emerging Sonoran Desert industrial corridor. Valued at $80 million, I-10 International Phase I sits on 79 acres at the southeast corner of Alvernon Way and Los Reales Road, two miles
U.S. monthly apartment rent growth declined last month in its largest October drop in more than 15 years as an oversupply of units affects all parts of the country. The national average rent fell to $1,708, a 0.3% decrease from September’s revised figure of $1,713. That marks the fourth consecutive month of no change or a negative change in monthly rent, according to a report from CoStar’s Apartments.com. Three of the five steepest monthly
A massive data center corridor in the works in the far west side of the Valley is clearing initial hurdles. Maricopa County’s planning and zoning commission recommended approval of a new land use designation at a Nov. 6 meeting to set up thousands of acres for data centers and other industrial uses. The proposed development is from a notable valley landowner, Anita Verma-Lallian, who is CEO of Arizona Land Consulting
As 2025 draws to a close, commercial real estate executives are increasingly turning their attention to the outlook for the year ahead. Despite the turbulence that characterized much of 2024 and early 2025, the latest insights from CBRE’s research head, Henry Chin, suggest that double-digit transaction volume growth is no longer an improbability—it is shaping up to be a consensus expectation for 2026. The market tone has shifted decisively since the first quarter
With Host Hotels & Resorts’ portfolio focused on higher-end hotels, the ongoing bifurcation of travel demand has allowed the company to raise its full-year outlook. During the hotel real estate investment trust’s third-quarter earnings call, Host President and CEO James Risoleo said the company’s hotel portfolio outperformed expectations again. The strong year-to-date performance and improved expectations for the fourth quarter have allowed Host to
Luna Grill, a San Diego-based fast-casual Mediterranean restaurant, will open its first Arizona location later this month in Mesa, marking its expansion into the Phoenix area. Over the next 12 months, Luna Grill will have multiple locations across the Valley, the company’s CEO confirmed to the Business Journal. Founded in 2004 in San Diego by husband-and-wife team Sean and Maria Pourteymour, Luna Grill has grown to 53 locations across Southern California
This is the largest speculative construction loan in Arizona this year. ViaWest Group and Barings have obtained $107 million in construction financing for ReDiscover Logistics Park, an 808,448-square-foot industrial development in Phoenix. This is the largest speculative construction loan in Arizona this year, according to JLL Capital Markets, which worked on behalf of the developers to secure the financing through a life insurance company. The joint venture acquired
Investor confidence in retail real estate is surging as the sector posts its strongest quarter in three years, driven by resilience and select fundamentals that are drawing both longstanding and new capital back into the market. Sales volume surged more than 40% in the third quarter of 2025 compared with the same period a year earlier, according to Newmark’s latest retail conditions and trends report. Roughly $16.1 billion in assets changed hands during the
Phoenix is among the top 10 markets to watch in 2026, according to PricewaterhouseCoopers’ and Urban Land Institute’s Emerging Trends in Real Estate 2026 report. Released on Nov. 5, the PwC/ULI report draws on insights from more than 1,700 leading real estate investors, developers, lenders and advisers across the U.S. and Canada. The report identifies key opportunities, risks and market shifts that will shape the industry in 2026. Phoenix ranked 10th
A Chicago real estate fund manager is looking to raise $100 million for ground-up multifamily developments in fast-growing markets where an oversupply of development in recent years has pushed down rents. The firm believes this strategy will lead to reduced competition and increased profits in the next wave of construction. Origin Investments announced plans this week for the Origin Select Asset Fund, with proceeds to be invested into five
A shift among the top-ranking real estate markets in the United States is now unmistakable, as Urban Land Institute and PwC’s newly-released Emerging Trends in Real Estate 2026 report points to significant geographic and sectoral recalibration among this year’s “Markets to Watch.” Behind the headline rankings, a nuanced picture emerges: investor priorities are reshaping around demographic inflows, talent clusters and crucial supply-demand recalibrations
La-Z-Boy Incorporated, the American furniture brand celebrated for its quality, comfort, and timeless design, has opened its newest distribution center in Glendale. The state-of-the-art facility spans approximately 225,000 square feet and employs approximately 30 team members. Located at 17000 W Glendale Ave Ste D100, this advanced facility represents La-Z-Boy Incorporated’s continued investment in operational excellence and its commitment to
Five Star Development, the developer of the Ritz-Carlton Paradise Valley, filed Nov. 4 for Chapter 11 bankruptcy protection, which is intended to create “a clear, court-supervised path” to finishing the resort, company leaders said. The filing creates an automatic stay, which halts most lender collection activity, including foreclosure proceedings. The project’s main lender, Madison Realty Capital, has filed for foreclosure on the project, and the development was
Location: 20650 N. 56th St., just north of Loop 101 and south of Deer Valley Drive in north Phoenix. Description: Sprouts Farmers Market is building a new headquarters along north Phoenix’s burgeoning Loop 101 corridor. As part of the CityNorth Development’s growing footprint, the grocer’s 180,000-square-foot campus will include a large office building and new Sprouts store, as well as retail and restaurant space. Inside the 144,500-square-foot corporate
Gurbir Sandhu Company acquired the Home2 Suites by Hilton Phoenix Airport South from Baywood Hotels for $18.75 million. The sale represents about $182,039 per room for the 103-room hotel. The buyer secured a $12.19 million loan from Wells Fargo Bank to finance the acquisition of the four-story hospitality property. Built in 2019, the 60,357-square-foot hotel is located at 4725 E. Broadway Road in Phoenix. Baywood Hotels, the seller, is one of the fastest-growing hotel
A longtime Valley-based Mexican food chain has plans to open several locations in the coming months across the Valley. Someburros is the in the middle of a large expansion process and has recently signed deals in Maricopa, Peoria and Surprise with new restaurants expected to open in 2026. Most recently, Someburros acquired 1.21 acres in Maricopa at the northwest corner of Maricopa-Casa Grande Highway and Stonegate Road. The site is within
Scottsdale on Main, a 119-unit, luxury mid-rise multifamily asset in Scottsdale that sold for $66.1 million — or $555,462 per unit — was one of the five biggest commercial real estate deals in October. Here are the five biggest commercial real estate deals in Metro Phoenix from October of 2025, according to data collected by the commercial real estate tracking website Vizzda and AZRE magazine. 1. Glendale land Sale price: $118,115,902
A 191,000 square-foot data center in Chandler and a substation on-site sold for $130 million on Oct. 30. Lincoln Property Company scooped up the complex from CBRE Global Investment, and it plans to not only build out unusable parts of the existing facility, but to also erect an entirely new data center building at the property, at 2500 W. Frye Road. The purchase is part of a strategy Lincoln is employing nationally as it looks to identify smaller pockets of power available