The office market is leaving many CRE professionals, economists, policymakers, and others scratching their heads. Refinancing is tough. The Federal Reserve and bankers keep warning their concern over the state of loans. Gig waves of maturity are reportedly about to hit at a time when
Amazon.com Inc. has signed another massive industrial lease in metro Phoenix, adding to its substantial portfolio in the Valley. Amazon (Nasdaq: AMZN) will fully lease a 1.2 million-square-foot building for 10 years at The Cubes at Glendale industrial park, according to a new Cushman
Recently released data from the U.S. Census Bureau reiterated Texas’ demographic dominance. According to the bureau’s 2023 Vintage Population Estimates, the Lone Star State had eight of the top 10 fastest-growing counties in the United States from July 1, 2022, to July 1, 2023. That
Metro Phoenix prevails as the second-largest data center market in the nation, according to JLL’s new H2 2023 North American Data Center Report. Bolstered by its availability and affordability of power, and its available land for new development, the market during the second half
Semiconductor manufacturing isn’t just about making the increasingly small chips that power all sorts of applications. It’s also about connecting them and protecting them, which describes the packaging process. To this end, Arizona State University and Deca Technologies
Since January 2020, 35 companies in the semiconductor industry have announced plans to expand or relocate to Arizona, representing $65 billion in investment, according to data from the Arizona Commerce Authority. Those companies include massive fabrication facilities, like
After many years of adding residents, restaurants and high-rises in downtown Phoenix, leaders are envisioning the next wave of economic development. And it will likely include a convention center expansion and a new entertainment district. In February, more than 3,500 people
Kohl’s (NYSE: KSS) has announced plans to roll out 200 Babies R Us shops this fall at existing Kohl’s locations. The first Babies R Us shop will debut at an undisclosed Kohl’s store in August. Additionally, the company plans to open 140 more Sephora shops at Kohl’s this summer
We’re barely three months into 2024 and the list of retailers shedding stores this year continues to grow. Yesterday, Dollar Tree became the latest company to announce plans to right size their portfolios by closing underperforming stores. Dollar Tree, the parent company of Family
The State Of Retail New year: New retail opportunities. And though 2023 is firmly in the rearview mirror, the economic headwinds that characterized much of the year have yet to fully dissipate. But every challenge also brings with it new opportunities, and many retailers are adapting
FrameTec, a pioneering building component manufacturing plant and building framing services company, announced today plans to build a truss and wall panel manufacturing facility in Casa Grande, Arizona. The new facility will consist of two plant buildings, with the first phase of
Thousands of new homes have gone up in metro Phoenix during the past few years that homebuyers can’t purchase. But the new houses are for rent, and many people are opting for them over apartments. Called single-family rentals, the Valley is considered “the birthplace” of houses
Real estate prices have bottomed and there’s a great opportunity to move fast and buy assets at beaten-down prices, according to Blackstone Inc. President Jon Gray. “The perception is so negative and yet the value decline has occurred, so when you get into this bottoming period
After a year in which transactions plummeted more than 50%, some institutional investors have reported they are now returning to the property markets. To be sure, they are expecting discounted pricing for the assets but their return is notable as it suggests that the market has indeed
Phoenix added 195,000 people between 2020 and 2023, according to new estimates from the Census Bureau released Thursday. The big picture: The influx of newcomers represented a 4% population increase. That’s compared with a 1% increase nationwide. Why it matters: The Valley’s
Arizona’s economy continues to churn out solid gains. Population growth slowed modestly in 2023, according to estimates from the Arizona Office of Economic Opportunity. U.S. Census Bureau estimates show a more significant slowdown. The state continued to add jobs in 2023, at about
The Arizona State Land Department Board of Appeals on Thursday unanimously approved the $68.5 million appraisal of 95 acres of land sought by the Arizona Coyotes. There were no questions or discussion about the appraisal on the land at the northwest corner of the Loop 101 freeway
After years of dormancy following the 2008 financial crisis and a pandemic thrown in for good measure, retail development has returned to the Phoenix metro in a big way. The metro had 2.2 million square feet of retail space under construction entering 2024 and an additional 3.6 million
Asking rents for apartments posted their first nationwide increase in more than seven months in February, Yardi Matrix said Wednesday. The average U.S. asking rent rose $1 to $1,713 in February, up 0.6% year-over-year, while occupancy decreased 60 basis points Y-O-Y to 94.5% as of January
Despite a fourth quarter dip, the Freddie Mac Multifamily Apartment Investment Market Index (AIMI) was up for 2023, indicating that investment conditions were better in the fourth quarter compared with the prior year. For the fourth quarter, the AIMI fell nationally and in all 25 markets
Scottsdale-based TerraLane Communities has opened a 297-unit rental community in Goodyear, next to another community it had built and sold in 2022. TerraLane at Canyon Trails South, at 25 N. 173rd Ave., is immediately south of TerraLane at Canyon Trails. Phoenix-based
Seniorly today released the Best of Senior Living Awards 2024 and identified the 334 best facilities in America. Arizona ranks No. 5 in the nation with 15 award-winning senior living facilities including the No. 6 best facility in the nation — Acoya Troon in Scottsdale, AZ. California led
Multifamily investors appear to be paying less per dollar of property income compared to one year ago, according to Freddie Mac’s latest quarterly update of its Multifamily Apartment Investment Market Index (AIMI). That’s because while mortgage rates have risen significantly, the increase
About 2,400 apartment units are under construction in downtown Phoenix, putting the submarket in danger of being overbuilt. Developers have been ramping up apartment construction throughout Phoenix for the past several years, which is causing real estate experts such as Peter