Phoenix office market shows positive shift in net absorption
Phoenix office market is beginning to show a positive shift in total net absorption, according to an analysis from Kidder Mathews. Market Highlights: YTD total Net absorption totals 867.2K square feet. 3Q25 sales volume reached 991K square feet. Total vacancy rates decreased 140 bps QOQ to 23.6%. Market Drivers: The Phoenix office market recorded a positive direct net absorption of 226.1K square feet in 3Q25, led by Chandler, which recorded…»
Mesa Gateway Airport area to get 32-acre industrial park with flexible space options
A 32-acre site near Mesa Gateway Airport is set to undergo industrial and commercial development to construct two buildings that will each exceed 100,000 square feet. The site, called Gateway Park, is at the northwest and southwest corners of Ray Road and Hawes Road in Mesa. It will include a pair of buildings totaling 235,600-square-feet, according to proposal documents submitted to the city of Mesa. The owner of the property is Mesa Airport…»
Two big bank lenders for commercial property see loan quality improve, office values stabilize
The nation’s two largest bank lenders for commercial real estate are seeing the quality of their loans improve as office valuations stabilize. JPMorgan Chase posted modest loan growth in the third quarter, while Wells Fargo keeps shrinking its property portfolio. The divergence between the two banks that emerged in the second quarter became more pronounced in the third quarter, according to the banks’ earnings released Tuesday. Wells Fargo sees…»
Partnership Announces Costco, Marriott Hotels Coming to $7B Halo Vista Development in Phoenix
PHOENIX — A partnership between Mack Real Estate Group and McCourt Partners has announced updates for the first phase of Halo Vista, the co-developers’ $7 billion, 2,300-acre mixed-use campus in northwest Phoenix. Halo Vista is set to surround TSMC Arizona, the $165 billion semiconductor fabrication campus. The co-developers, which are operating as an entity doing business as Mack Halo Vista LLC, announced that the project…»
These metro Phoenix neighborhoods had biggest home price increases, decreases
A popular Tempe neighborhood near ASU and freeways was the top area in metro Phoenix for home price increases during the past year. South Tempe’s median home price jumped 23% to $554,000 during the 12 months ending in August, according to Homes.com. Chandler’s Ocotillo neighborhood, named after a big development in the area, posted the biggest home price drop. Its median plummeted 28% to $559,000. Metro Phoenix…»