Commercial Real Estate & Business News 5-21-2025

A quarter of all post-pandemic apartments constructed in Phoenix was concentrated downtown. Impressively, this resulted in more than 5,200 new units, positioning the city center as the 21st fastest growing downtown nationwide. Our Downtown Construction Report looks at the 50 largest U.S. cities to highlight those betting big on the revival of their urban cores…»

After a delay of more than 10 years, a Scottsdale developer has secured a Southeast Valley retail center with plans to fill out the rest of its commercial space. Pennant Development LLC along with Realm LP acquired the remaining parcels of Skyline Ranch Marketplace in SanTan Valley for $10 million from WinCo Foods on May 14, The Scottsdale-based development firm and…»

Trinity Investments has sold the JW Marriott Phoenix Desert Ridge Resort & Spa to real estate investment trust Ryman Hospitality Properties for $865 million. Trinity bought the 950-room hotel from Blackstone in 2019 for $602 million and invested $100 million into a renovation, which was completed in 2023. The renovation added a waterpark complex and two signature restaurants…»

Investor sentiment at CBRE’s multifamily summit in Nashville was overwhelmingly positive, and the long-term outlook for the sector remains strong despite macroeconomic uncertainty. In fact, investors polled at the summit ranked government policy and tariffs among their lowest concerns. CBRE noted that trade barriers may cause fewer new properties to be developed, which would…»

Optima, an internationally acclaimed architecture and real estate development firm, announced today the launch of sales for the first luxury condominium tower at Optima McDowell Mountain—a $1 billion, design-forward community in North Scottsdale that has already secured close to $27 million in early reservations ahead of its public release. Optima McDowell Mountain represents…»