Commercial Real Estate & Business News – February 10, 2025

The city of Phoenix wants to partner with a real estate developer to turn a large downtown parking garage into a new hotel. It’s planning to issue a request for proposal to redevelop the Regency parking garage located on Adams and 2nd streets next to the Hyatt Regency. In its place, Phoenix leaders…»

Office-to-apartment conversions are at a new all-time high, with the pipeline reaching 70,700 units as of 2025. More than two-thirds (68%) of all future apartments retrofitted from offices are located in 20 metros — and Phoenix is one of them, ranking as the nation’s 11th major retrofitter…»

The industrial sector is transitioning from its pandemic-driven boom, with 2025 expected to bring further adjustments, according to the latest Commercial Edge office report. After a surge in development that added over 1.1 billion squarefeet in 2022-2023, supply slowed in 2024, with 358 million square feet…»

Deportations ordered by President Donald Trump could hit Arizona’s agriculture and construction sectors hard, pushing up prices for homebuyers and grocery shoppers. One in five agricultural workers and one in eight construction workers in Arizona lack permanent legal status, according to Pew…»

The city of Avondale is seeking experienced developers for a mix of uses in its emerging downtown, The BLVD. It posted a request for proposals on Feb. 5 for a timely and “dynamic, vibrant” commercial property featuring walkable entertainment, high-quality restaurants, retail and office on 16 acres…»