Luxury Retail in 2026: Where Opportunity Lies
The K-shaped economy, spending patterns and aspirational shoppers will be vital to both brands and landlords. Luxury retail entered 2026 with a sense of cautious optimism. While luxury spending isn’t as robust as 2023, the market contraction of the past two years has slowed, and landlords and retailers are seeing a period of evolution influenced by a K-shaped consumer landscape. While affluent buyers continue to drive demand, tighter budgets for middle-income consumers…»
NRF: Retail sales grow in February for fifth consecutive month
Retail sales grew again in February on both a month over month and year over year basis. Core retail sales (excluding restaurants, auto dealers and gas stations) inched up 0.28% month over month in February and were up 6.24% year over year, according to the CNBC/NRF Retail Monitor released Wednesday, March 10, by the National Retail Federation. Those figures compare with increases of 0.2% month over month and 5.72% year over year in January 2026. Total sales were up…»
Desert Ridge a hot spot for state land auctions, with more on the way
The Desert Ridge area north of Paradise Valley has turned into a hot spot for developers wanting to scoop up prime state-owned land in recent years. One of the highest-priced state land auctions last year happened when Mortenson outbid Verde Investments for over 200 acres in the area, spending $136 million for a site now planned to become a new Arizona Cardinals training campus. And major national homebuilders turned out to bid on about 53 acres of residential…»
Once a destination for gambling, cheap hotels and all-you-can-eat buffets, Las Vegas is now more known for celebrity chefs, fancy restaurants, hot night clubs and big-name entertainment. About 300 miles southeast of the Strip, a growing number of professionals in the Valley’s hospitality and food and beverage industries are trying out the same playbook — and so far, it has proven successful. The tribal casinos around the Phoenix area have made significant investments and marketed…»
Metro Phoenix experiences hotel development boom
From hosting PGA tournaments and the kickoff of Taylor Swift’s world tour to an expanding tech sector ecosystem, the Valley’s calendar is packed year-round with events that draw hundreds of thousands of visitors to Phoenix and its surrounding cities. That steady stream of tourism, and the pressure it puts on lodging, has helped fuel a surge in hotel construction across the metro area as developers race to keep pace. “We have a large hotel pipeline right now, and a lot of it has to do…»