That dormant building on Camelback Road in Phoenix? It may soon open
Residents could begin moving in to One Camelback, the long-dormant office-to-apartment conversion project on Central Avenue and Camelback Road, by the end of this year. Much of the work is nearly done at the long-awaited development, with many of the luxury apartment units nearly ready for move-in. The building’s owner, Mesa-based Kinella Capital, is in active lease negotiations for the retail space on the ground floor. TK Stratton, founder and…»
5 biggest commercial real estate deals from March
Cortland Biltmore, which offers stylish apartment living in one of Phoenix’s most desirable neighborhoods, was the biggest commercial real estate deal in Metro Phoenix in March 2026. Here are the five biggest commercial real estate deals in Metro Phoenix from March of 2026, according to data collected by the commercial real estate tracking website Vizzda and AZRE magazine.…»
Banks Ease CRE Reserves Just as New Storm Clouds Gather
Banks may be relaxing their guard on commercial real estate credit, but the supposed all-clear is colliding with a harsher reality of higher rates and war-driven uncertainty that could still derail a fragile recovery. According to S&P Global Market Intelligence, credit loss allowance ratios for commercial real estate loans at U.S. banks fell sharply in the 2025 fourth quarter, dropping 12 basis points quarter-over-quarter and 17 basis points year-over-year…»
Vacant Phoenix elementary school converted into two industrial buildings, fully leased
A vacant elementary school in southwest Phoenix has been transformed into two modern industrial buildings that are fully leased. Merit Partners, alongside Phoenix-based general contractor Stevens-Leinweber Construction (SLC), took on the project called Merit 27 Buckeye, which sits on 18 acres at the southeast corner of 27th Avenue and Buckeye Road. The development includes two Class A industrial buildings – the first spanning 191,227 square feet, and the other…»
Spanish pharma firm enters Phoenix market after deal with Bristol Myers Squibb
A Spanish pharmaceutical company acquired a drug manufacturing facility from a major U.S.-based drugmaker. Bristol Myers Squibb sold its Phoenix manufacturing plant to a subsidiary of ROVI Pharma Industrial Services on March 31 for $18,524,000, according to real estate database Vizzda LLC. The deal terms include a toll manufacturing agreement where ROVI will receive $50 million minimum annually for five years – or about $250 million – while continuing to…»