Dual-branded AC Hotel and Element by Westin opens in Phoenix; plus more deals
The dual-branded AC Hotel by Marriott Phoenix North Norterra and Element by Westin Phoenix North Norterra opened this week in north Phoenix, near the northeast corner of West Happy Valley Road and Norterra Parkway. The four-story, 277-room property was developed by Arizona-based Holualoa Cos. and Texas-based Jackson-Shaw. The AC Hotel portion of the project has 182 rooms with the brand’s clean, modern aesthetic…»
Why TSMC’s expansion plans have some neighbors concerned
A board of Phoenix City Council-appointed volunteers gave the first approval to a massive development that could include an expansion of Taiwan Semiconductor Manufacturing Co., a move that left some neighbors feeling like their voice wasn’t heard. The development, called NorthPark, is planned for 7,400 acres of land south of Loop 303 and west of Interstate 17. TSMC and PulteGroup are the applicants for the project. The site, which is controlled by the Arizona State Land Department, is proposed to eventually have…»
Cap Rates Fall as Multifamily Returns Stay Ahead of CRE Peers
Multifamily properties have maintained a multi-year track record of outperforming other property sectors, delivering total annual returns of 5.48% in the third quarter, according to a Newmark multifamily capital markets report. Multifamily returns continue to exceed the NCREIF All Property Index, which registered 4.65%, Newmark said. This marks the sixth consecutive year of sector outperformance since 2020. Continued cap rate…»
Here’s how confidence is returning to Phoenix commercial real estate sector
After a period of uncertainty, confidence is returning to Phoenix’s commercial real estate market. According to Arizona State University’s Center for Real Estate and Finance’s latest Commercial Broker Sentiment Index, or CBSI, the Valley posted a reading of 62.7 — signaling the strongest confidence level among brokers since interest rates began rising. The index, which serves as a forward-looking indicator of market health…»
Top 10 Arizona cities with the fastest-growing home prices
Home prices in Arizona were up 0.5% year-over-year in October. At the same time, the number of homes sold rose 1.7% and the number of homes for sale rose 9.0%, according to data released from Redfin. But if you’re looking for the Arizona city with the fastest-growing home prices, look no further than picturesque Sedona. In October 2025, home prices in Arizona were up 0.5% compared to last year, selling for a median price…»