In my column on Wednesday, I noted that I will be keeping a close eye on both the residential and commercial real estate sectors as this overbought market heads into the New Year. There are many bubbles within the overall market which I have highlighted many times in the past
A proposed retail and 335-unit residential complex near Higley and Warner roads would create Gilbert’s second-highest concentration of apartments if approved, according to town staff. The Gilbert Planning Commission won’t be voting on a recommendation for Town Council action on
Party City announced it is closing all its stores, including the 15 in Arizona. The party supply chain, which has several locations in Massachusetts, told employees on Friday that it was shutting down. According to CNN, CEO Barry Litwin told corporate employees Friday in
The 501 Gateway office property in Phoenix at 501 N. 44th St. has sold for $18 million. The four-story building, totaling 102,305 square feet, was acquired by a private group of investors through 501 Gateway Center LLC. It was constructed in 1997 near the Phoenix Sky Harbor
2024 marked a year of sustained demand in Arizona’s housing market as inventory remains limited and demand is high from continued population growth. With 2025 on the horizon, the Arizona REALTORS® is is sharing its housing market predictions for the year and the impact of
Legacy brands are making a comeback. And discount and dollar stores may be in for a “readjustment.” Those are two of seven trends outlined in a new white paper from Placer.ai’s new white paper, “Retail Trends to Watch in 2025.” Key takeaways from the white paper are
Phoenix is negotiating with the U.S. Bureau of Reclamation to give up some of the city’s allotment of Colorado River water in exchange for hundreds of millions of dollars. If approved, this would be the second such deal. In May 2023,Phoenix leaders agreed to a smaller allotment
With the COVID-19 pandemic finally in the rear-view mirror, many aspects of daily life are finding their way back to normal. As many employers are making the shift back to in-office work days, the architects and designers at Corgan are prepared to support their clients in
A Chicago company has broken ground on a solar farm in northern Arizona that will provide enough electricity to power more than 110,000 homes. When completed in 2027, the new Hashknife Solar Energy Center in Navajo County, being developed by privately held Invenergy
The American dream is synonymous with two ideas. One is the idea that anyone in this country can find a path to economic success regardless of their circumstances at birth. The second idea is the symbolic encapsulation of the first idea: homeownership. Owning a home is the
The top three retail themes in 2025 will be international trade, the changing role of stores and opportunities online, according to a new report. GlobalData’s Top Themes in Retail and Apparel 2025 report also predicts that AI, geopolitics, environmental, social and governance (ESG)
With 2025 less than two weeks away, the pressure’s on for definitive takes on where commercial real estate is going, how long it will take to get there, and who the winners and losers are. It’s a big ask that probably can’t be granted. There are signs to point at, whether
Prices barely moved in November but still held higher than the Federal Reserve’s target when looked at from a year ago, according to a Commerce Department measure released Friday. The personal consumption expenditures price index, the Fed’s preferred inflation
Year-ahead outlooks are always tricky, and housing market experts are not immune from making reasonable forecasts in December that fall apart by the first quarter of the following year. Still, it’s worth listening to what people in the industry are expecting — particularly
Apartments, restaurants and a new office building are in the works at Cavasson, a $1 billion development underway in north Scottsdale, led by Nationwide Realty Investors, the real estate arm of the insurance company. The 134-acre development, which has been underway in
While outcomes have been varied, numerous U.S. retail markets managed to significantly outperform national benchmarks over the past year. And almost all the best performers are in the Sun Belt. To determine those best-performing retail markets of 2024, CoStar
Phoenix is trying to clamp down on sprawling data centers that take up a lot of land and energy but provide few jobs in return. In December, the City Council approved a series of changes to begin regulating where data centers can be built in Phoenix and how the exteriors should
A developer is pitching a mixed-use project comprising 278,750 square feet of commercial and about 651 residential units in northeast Mesa. The Planning and Zoning Board last week recommended council approve the requested rezone allowing for Medina Station
Rockefeller Group has completed the construction of a 418,400 square-foot distribution center on 24 acres in Surprise, Ariz., part of the Southwest Valley industrial submarket. One to four tenants can fit within the Surprise Pointe Commerce Center, which features 80 dock
The shocking strength of the economy helps explain the Federal Reserve’s Scrooge-like plans for interest-rate cuts next year. And the latest update on GDP over the summer offers another reminder. The U.S. economy expanded at a frothy 3.1% annual pace in the third quarter, and it looks like a
While the commercial real estate market is set for a lending rebound in 2025, not all sectors are primed for a quick recovery. James Millon, CBRE’s President of U.S. Debt and Structured Finance, predicts that liquidity will flow back into stronger asset classes like multifamily, self-storage
Phoenix continues to lead the nation in terms of industrial development, despite a slowdown in construction starts. At the end of October, the metro had 24.7 million square feet of industrial space under construction across 95 projects. Nevertheless, construction starts for industrial projects
Today, Arizona-based architectural firm Krause was selected as the winner of the C40 Cities Reinventing Cities Initiative to develop Phoenix’s Resource Innovation Campus (RIC). The initiative is a competition that invites professional multi-disciplinary teams to transform underutilized sites in cities
The Phoenix apartment market extended its rent-losing streak last month as supply-side pressure and persistently elevated vacancy hamper rental rates. The average asking rent fell 0.4% in November, marking the ninth-consecutive month of declines. As a result, apartment rents are now down 2.1% through
The Federal Reserve announced a quarter-point cut to its key interest rate Wednesday, an effort to keep what appears to be a steady but cooling economy stable. The move, the Fed’s third rate cut of the year, reduces the central bank’s target rate to between 4.25% and 4.5%. In its statement