Top 5 News
CRE Pricing Continues Gaining Strength in August
Commercial property prices continued to strengthen in August with all major sectors posting annual gains, MSCI Real Assets reported. The RCA CPPI National All-Property Index rose 2.4% year-over-year for the sharpest increase since late 2022 and gained 0.9% from July, translating to an annualized pace of 11.1%. Retail continued to lead the market in August with a 5.3% annual increase and a 0.4% monthly gain, representing the 15th consecutive month of growth. Industrial was a close second with a…»
Phoenix is positioned to be a ‘star hub’ in the growing AI economy
A new report from the Brookings Institution finds the Valley is well-positioned to be a leader in artificial intelligence. Researchers label the Phoenix metro area as a “star hub,” which is described as a region just below the superstars of the Bay Area. Mark Muro is a senior fellow with Brookings Metro and one of the authors of the study. “Why does this matter? Because this technology has such potential to generate productivity gains across the economy. So, therefore it really matters how well one is…»
NewsBusiness Goodyear’s Ballpark Village breaks ground, expands retail and entertainment options
GOODYEAR, AZ — Dirt is moving at the site of Goodyear’s future Ballpark Village – a mixed-use project that will bring new retail, dining and entertainment options near the city’s spring training facility. Diversified Partners broke ground last week on the project, which will sit on over seven acres at the northeast corner of Estrella Parkway and Yuma Road. Construction is expected to take nine to 12 months, and the complex is on track to open sometime next year, according to a…»
Here’s how tough renting in Phoenix is this peak moving season
Phoenix managed to keep a good pace of apartment construction these past recent months, but it didn’t manage to ease demand for renting in Phoenix. In fact, while the occupancy rate dropped slightly, more tenants decided to stay put, locking in some of the desirable apartments. Here are the details from the Rental Competitiveness Report in peak moving season: This peak season, each vacant…»
Why the basin states’ fight over Colorado River water is a big deal for Arizona
PHOENIX — Central Arizona Project (CAP) delivers water to about 90% of the state’s population. CAP is a 336-mile system of aqueducts, tunnels, pumping plants and pipelines that carries Colorado River water to Arizona’s most-populated regions. Terry Goddard, president of CAP, is worried about how operations will have to be restructured if Arizona gets shorted in when new Colorado River operating guidelines are finalized next year. The basin states first agreed to Colorado…»