Commercial real estate mortgage borrowing and lending totaled $816 billion last year, an 8% drop from 2021’s record $891 billion but a 33% increase from 2020’s $614 billion, according to
Seeing a demand in large users wanting to own their land outright, Trammell Crow Co. is approaching its latest East Valley deal a bit differently. Rather than build another speculative industrial park, Trammell Crow will get more than
Diversified Partners, the leading Scottsdale real estate brokerage and development company, announced the groundbreaking for its Mercy Center development project, located at 3635 S. Val Vista Drive in Gilbert, Ariz. The groundbreaking ceremony
Salt River Project and a Texas company are collaborating on a new battery storage project in Avondale that will help supply electricity at peak times such as early evening hours during the summer. Eventually, much of
RED Development revealed today a joint venture with Scottsdale-based Globe Corp. to build GSQ, a new more than 150-acre mixed-use development set to transform Goodyear as the city’s premier cultural hub featuring
The owner of Turf Paradise is negotiating the sale of the historic racetrack to a developer who hopes to continue horse racing on a temporary basis but ultimately plans to redevelop the property
A new industrial park by Minnesota-based Ryan Cos. will add to the growing number of industrial buildings in Pinal County. The firm is planning to develop a build-to-suit park across 122 acres and is marketing various opportunities for interested employers
HonorHealth has broken ground on a $170 million expansion project at its Deer Valley Medical Center that will add patient beds, operating rooms and key support departments. This expansion will allow
Phoenix wants to recycle wastewater into drinking water by the end of 2030 and share it with the Valley. The plan is to build an advanced water purification facility and treat, then reuse millions of gallons of wastewater that would
Multifamily rents increased slightly in March despite the nation’s economic challenges. According to the latest Yardi Matrix Multifamily Report, U.S. asking rents saw a $3 increase last month to $1,706, while year-over-year growth decelerated to
Senior housing occupancy rates have increased for the seventh consecutive quarter, according to a report by the National Investment Center for Seniors Housing & Care, which utilized data from NIC MAP Vision. Occupancy rates
With billions of dollars in federal funding up for grabs in coming months, Intel showed off construction progress at its Chandler campus, where nearly 30 cranes and thousands of workers are building two new
The latest number of cranes counted in downtown Phoenix is a significant jump from the low number seen over the past two years even as the Valley experiences the effects of continued construction cost increases. The new
Millennials make history — not only did they add the highest number of homeowners among all the other generations, but they did it in record time. In just 5 years, 7 million Millennials bought a place to call their own. This spectacular growth led to
Maricopa County led the nation in population growth between July 1, 2021, and July 1, 2022, based on the most recent county-level population estimates released from the U.S. Census Bureau. According to the data
The multifamily sector has been a growing disappointment. Not that it was expected to be otherwise. Interest rates up, consumers beset with higher prices and growing concerns over potential layoffs. Companies wondering how close a recession is.
The U.S. apartment market saw demand rebound back into positive territory in the first quarter of 2023 but the first three months of the year were weaker by historic standards. Still, it’s the latest sign the apartment market is returning to
Clarification: This story has been updated to make clear that RentCafe found that there are more millennial homeowner households than renter households based on data looking at 260 U.S. metropolitan areas.Skyrocketing home prices
As other financial service giants such as Bank of America and JPMorgan Chase warn of a possible or even likely economic shock because of the slump in commercial real estate, Goldman Sachs is less concerned about the risks ahead, especially from
The first quarter in general, and March in particular, proved positive for multifamily metrics, according to RealPage Market Analytics and Yardi Matrix. Net apartment demand rebounded back into positive territory in Q1, ending a streak of
Thanks to the savings in cost and time to opening, retailers are craving second-generation spaces these days. Landlords like to backfill those spots with like-kind tenants for the same reasons
A new Scottsdale retail, restaurant and entertainment development has signed on a high-profile hotel. Reverb by Hard Rock is planning to build a 168-key hotel at The Sydney, which is being developed on a
Their family business was successful and growing. But backyard conversations in 2020 revolved around uncertainty and survival. Brothers Jared and Aaron Pool had the secret sauce that made their Gadzooks Enchiladas and Soup chain a hit
The Tohono O’odham Gaming Enterprise (TOGE) broke ground today on a new Desert Diamond Casino facility located near Loop 303 & Northern Parkway. The first phase of the new facility will feature a 184,000 square-foot casino floor with
Economists’ eyes are fixed on the March jobs report being released on Friday with some hope of more signs that inflation is slowing. However, no matter what the results, chances are that there are still more interest rates ahead, according to