Commercial Real Estate & Business News – April 23, 2025

A planned $117-million development in the southern part of downtown Phoenix will include restoring a historic building and reusing it as commercial space. Colorado-based developer Aardex received approval from the Phoenix City Council in early April to develop a 14-story, 262-unit apartment complex on about two acres…»

Less is definitely more when it comes to apartment supply in the U.S. That’s at least according to a new report that found the number of deliveries of new apartments in 1Q 2025 is finally heading downward, representing welcome news for multifamily landlords. Even though supply in the first quarter of this year marked the eighth…»

The variance in category performance in March supports this line of thought, as four of the five strongest performing retail categories during the month have significant exposure to higher import tariffs. This includes motor vehicles and parts, which were up 5.3%, building materials and garden, which were up 3.3%…»

Buckeye is getting hundreds of thousands of square feet of new industrial space, even as construction for such space in the West Valley has petered out following rapid development in recent years. Buckeye City Council last week approved a request to subdivide about 102 acres just south of the southeast corner…»

In a significant step toward addressing Phoenix’s housing shortage, real estate investment firm Caliber (NASDAQ: CWD) has secured unanimous approval from the Phoenix City Council to convert a distressed office complex into a 376-unit multifamily residential project. The redevelopment, known as Canyon Village…»