Commercial Real Estate & Business News – March 26, 2025

A $145 million retail development that will include a Whole Foods and a Dick’s House of Sport will begin construction in Gilbert, part of a development that will include restaurants, retail and entertainment. The development, called Signature at SanTan Village, will include 30 acres and about 300,000 square feet of retail and restaurant buildings, by the time all…»

Less than three years after the Camelback Collective changed hands, the 115,838-square-foot Phoenix office building is up for sale again. Humphreys Capital, an Oklahoma City-based firm, purchased Camelback Collective for $66.35 million in 2022 from Tucson-based Holualoa Cos. and LaPour Partners for a record $573 per square foot, per previous…»

Arizona job growth numbers have been revised down significantly in 2024, according to an analysis. Arizona added 7,400 seasonally adjusted jobs over the month in January 2025, up from a revised increase of 6,500 in December 2024. The state seasonally adjusted unemployment rate ticked up from 3.8% in December to 3.9% in January. That was just below the national…»

Lenders continue to extend loans into the future, with $384 billion worth carrying over into 2025. That surpasses the total of loans extended in 2024, which was $270 billion, according to Mortgage Bankers Association data. Extensions now account for 40% of debt maturing this year, said Colliers’ research director for capital markets, Aaron Jodka. Colliers benchmarked…»

A 24-story apartment tower called “The Whitney” is being built on 3.3 acres. The developer plans to construct an “L-shaped” building, with the tower on the hard corner of the site, and lower-rise commercial space along McDowell Road. The facility will have 320 units: 80 studios, 175 one-bedroom units, and 65 two-bedroom units. Amenities will include a rooftop…»