Today’s News 8-15-2025

“On the groups and convention side, our bookings are pacing up double digits, thanks to robust 2026 convention calendar that includes the return of [Conexpo-]Con/Agg. The Las Vegas Convention Center is spending $1.6 billion to renovate its legacy campus and expand the West Hall and remains on track to finish by the end of this year. “We will also benefit from greater Las Vegas…»

The multidecade-high wave of supply that poured into the Phoenix multifamily market over the past few years has meaningfully weighed on occupancy. The Valley’s stabilized vacancy rate, which excludes newly built properties in lease-up until they reach 90% occupancy or are older than 18 months, has climbed from about 5.6% in 2019 to 8.5% as of the second quarter of 2025. That…»

More retailers are signing on as Buckeye’s burgeoning shopping center corridor off the I-10 freeway and Verrado Way takes shape, where more than 1 million square feet of retail is currently under development. At Verrado Marketplace, a 500,000-square-foot complex from Vestar on the northeast side of the freeway, the newest specialty retailers to sign leases include See’s Candies and…»

Macerich Co. (NYSE: MAC), the owner and operator of several of the Valley’s largest malls and shopping centers, has sold nearly $150 million worth of property in the Phoenix area in the past year — and it could be looking to get rid of more. The California publicly-traded real estate investment trust implemented a plan last year to sell off its slower-performing properties. The company’s latest…»

Troon, which bills itself as the world’s largest golf and golf-related hospitality management company, has signed the largest Valley office lease of the year at Inisio at Kierland, the building’s landlord announced on Aug. 13. The Scottsdale-based company, which comprises four brands that help with golf course and country club management, will move its headquarters into its…»