February 13, 2023

A proposed East Valley business park could employ up to 10,000 people. California-based Shopoff Realty Investments is proposing The Block on Elliot at Elliott and Sossaman roads in southeast Mesa. Shopoff acquired the nearly

Read The Full Article...

Toward the end of 2022, the real estate market started to experience a leveling out period due to high mortgage rates. The increase in rates resulted in lower home costs and increased inventory. Now, as people are looking to invest in 2023, they

Read The Full Article...

Sunday’s Super Bowl matchup between the Philadelphia Eagles and Kansas City Chiefs will cast a spotlight on one of the country’s fastest-growing real estate markets. Most of that growth has been outward rather than upward. Professional football’s

Read The Full Article...

February 10, 2023

Glendale wasn’t the top destination for guests when the Super Bowl was hosted at State Farm Stadium in 2015 despite its regional draw with two sporting venues and dozens of restaurants, hotels and entertainment offerings.

Read The Full Article...

Landsea Homes, a publicly traded residential homebuilder, announced today it has closed on 65 homesites and construction will begin immediately on a new neighborhood called Solvida in the Estrella master planned community in

Read The Full Article...

STR expects Phoenix’s hotel revenue per available room to reach $419 for February 10-12, which the analytics company claims would be the second-highest level for a Super Bowl weekend. The market, which also is hosting the Phoenix Open this week, is

Read The Full Article...

Back just in 2020—how long is that?—the fear in commercial real estate was palpable. The pandemic was full on. States and cities were closing businesses. Many office buildings became ghost towns. People were without incomes.

Read The Full Article...

After a decade in the making, the shift in commercial real estate investment away from the major gateway markets to faster-growing areas in the South and West has stalled and even begun to reverse course. U.S. cities in the Sun Belt have

Read The Full Article...

February 9, 2023

The January 2023 Senior Loan Officer Opinion Survey on Bank Lending Practices from the Federal Reserve has the type of headline results for commercial real estate lending that you might expect: tighter standards and weaker demands across all

Read The Full Article...

Office visits remain about 60% of what they were before the COVID-19 pandemic, according to a new analysis from Placer.ai. It’s a continuation of a trend the firm observed in both Q3 ad Q4.  

Read The Full Article...

Downtown living is finally making a comeback after the pandemic-driven flight to the suburbs. But not all downtowns are cut from the same cloth. Some are better than others at getting the right mix of amenities to keep residents engaged

Read The Full Article...

The struggling Bed Bath & Beyond Inc. (Nasdaq: BBBY) retail chain has released a new list of 150 more location closures, including two in the Phoenix area, adding to previously announced store shutdowns. The new list includes

Read The Full Article...

A recent survey of commercial real estate investors ranked Phoenix as a top 10 target among U.S. metros. Phoenix ranks No. 8 among the Top 10 most preferred markets, according to CBRE’s 2023 U.S. Investor Intentions Survey. The survey found that

Read The Full Article...

February 8, 2023

Rents may be falling but fundamentally multifamily fundamentals are very strong. Widespread distress is highly unlikely to happen; indeed forecasts for the asset class’ long-term growth are quite rosy. But for investors eager to get a cost-effective

Read The Full Article...

State Farm Insurance, one of the largest Fortune 500 companies with employment hubs throughout the country, is considering subleasing some of its unused real estate, the latest corporate giant to weigh what to do with excess space.

Read The Full Article...

While there is plenty of debt capital available waiting to deploy, fewer borrowers are willing to transact unless they must and there is an increase in activity from private capital, and regional and local banks from those who do, according to a new report

Read The Full Article...

Investors pumped $9.68 billion into qualified opportunity zone funds in 2022, bringing the total raised for investing in 8,746 areas federally designated as economically distressed to $34.09 billion since the opportunity zone program launched

Read The Full Article...

2022 was a complex year for commercial real estate, as rising interest rates created an air of uncertainty in the market, resulting in a deceleration of transaction activity. Despite these headwinds, multifamily fundamentals ended last year on

Read The Full Article...

February 7, 2023

When it comes to the office industry, 2022 was another entry in a series of transformative years. With work time still shared between home and the office (for most companies), the office building continued to take on the role of an

Read The Full Article...

There’s an old saying that water finds its level, and usually it means people gravitate toward the like-minded. But there’s another way to take it from physics — that water will move about until pressure and force equalize. It adapts to

Read The Full Article...

Tempe has tripled down in its battle to keep a $1.8 billion project on Town Lake off the ballot, appealing two previous court losses to the Arizona Supreme Court on Friday. The city hopes to overturn rulings won by an advocacy group that collected

Read The Full Article...

Chicago-based The X Co. — which recently started construction on the second phase of its X Phoenix multifamily project in downtown Phoenix — plans to break ground nearby this spring on X Roosevelt. With 506 beds spanning 20 stories, the first phase of

Read The Full Article...

Several major construction projects moved forward in Phoenix in 2022, which contributed to it being recognized as a top market for the value of commercial and multifamily starts. Dodge Construction Network found Phoenix to be No. 7 on a

Read The Full Article...

February 6, 2023

Phoenix is moving forward with a request for proposals for a city-owned, vacant lot on the south side of the city that has a long history. The economic development and equity subcommittee approved on Jan. 25 a motion that will allow the city to issue a

Read The Full Article...

(Bloomberg Opinion) — Walmart Inc. inched closer to a $15 minimum wage last month, drawing tepid praise from even some of its strongest critics. The largest US employer joined Macy’s Inc., CVS Health Corp. and Target Corp., all of which have

Read The Full Article...