Banner Health pays $22.13M in cash for vacant land near TSMC development
Phoenix-based Banner Health — Arizona’s largest health system — just plopped down $22.13 million in cash for vacant land near the Taiwan Semiconductor Manufacturing Co. campus in north Phoenix. Closing on April 16, the 18.81-acre parcel at the southeast corner of Interstate 17 and Jomax Road was sold by US Raven I LP, which traces to Affinius Capital, according to Tempe-based Vizzda LLC real estate database. Banner Health officials weren’t quite ready to share details…»
Arro project brings tallest building in Arizona to Downtown Phoenix
Empire Group of Companies, through its luxury urban infill division Aspirant Development, today announced the official rebranding of its highly anticipated Downtown Phoenix high-rise project from its working name, Astra, to Arro – a landmark mixed-use development poised to become the tallest building in Arizona upon completion. Spanning approximately 1.8 million square feet, Arro will introduce a new level of scale and sophistication to Downtown Phoenix, anchored by…»
Class B Apartments Quietly Outperform in a Tiered Market
In a market that Yardi Matrix vice president Jeff Adler describes as “muddling through,” the best‑performing assets are not the gleaming Class A towers or the deeply discounted Class C walk‑ups. The segment carrying much of the income statement right now is the middle of the stack. “From a demographic standpoint, Class B will probably outperform A and C,” Adler said on a recent Yardi Matrix multifamily outlook podcast, citing how demand and stress are distributing…»
Arizona State University starts work on building for new medical school
Arizona State University started construction this month on a classroom building for a new medical school it expects to open in two years in downtown Phoenix. The 200,000-square-foot building at the corner of East Pierce Street and North Fourth Street will house the John Shufeldt School of Medicine and Medical Engineering, the first medical college operated by Arizona State. The five-story facility will also be occupied by the university’s School of Technology for Public Health and programs…»
Humana downsizes to 5,000 square feet at Biltmore office complex
Humana has signed a new lease at a Class A Phoenix office complex as the office market recovers. The health insurance giant signed a roughly 5,000-square-foot office lease at the mid-rise Biltmore Center at 2398 E. Camelback Road, significantly downsizing from its office nearby. It signed the lease in Q4 2025, Colliers’ Senior Executive Vice President Phil Breidenbach told the Business Journal. Breidenbach and Matt Baniszewski of Colliers are listing agents for the…»