Today’s News 9-16-2025

The Bureau of Labor Statistics recently released a preliminary look at its benchmark revision of annual job data, estimating that total U.S. nonfarm employment in March 2025 was 911,000 jobs lower than previously reported. While the 0.6% downward revision was the largest since 2009, not all geographies were impacted equally. Eleven states saw an upward adjustment to their payrolls, led by Arizona and New York, which were both undercounted by 1.1%. A…»

New retail development across the United States is in the midst of a dramatic slowdown, but fast-growing Phoenix continues to see activity with a multibillion-dollar project about to get off the ground. Developer Vestar on Monday unveiled plans for Legacy Park, a roughly 9.4 million-square-foot mixed-use complex slated for a vacant 200-acre site in Mesa, in the East Valley area of the greater Phoenix market. The first phase, estimated to cost more than $1 billion…»

Sprouts Farmers Market Inc.’s Valley expansion is continuing with a new store planned in Mesa. The Phoenix-based specialty grocer (Nasdaq: SFM) on Sept. 9 presented details about the planned location, at the intersection of West Southern Avenue and South Alma School Road, to Mesa’s Design Review Board. The 90,000-square-foot commercial center is set to receive a façade upgrade to accommodate the new Sprouts, according to a presentation…»

National multifamily developer Wood Partners has expanded its presence in Phoenix with the opening of Alta 87 in Gilbert. This marks the company’s third community in the region and the Town’s first with a structured parking garage. Alta 87 is now leasing, offering two months of free rent along with other exclusive specials. “The opening of Alta 87 marks an important milestone for Wood Partners as we continue to expand our footprint in the fast-growing Phoenix…»

Commercial real estate is piping hot in Deer Valley, according to some local real estate experts. The latest — a two-building office park in Deer Valley sold for $22.5 million, CBRE announced. The office park is near Seventh Avenue and Loop 101. The single-story buildings “occupy 7.22 acres and were constructed in 2001,” according to a press release…»