Phoenix area dubbed ‘Headquarters Alley’ as corporate relocations surge
More than two decades ago when she was working as economic development director for the city of Chandler, the chances for a Valley city to land a corporate headquarters relocation were pretty slim. But these days, politicians and economic development experts alike have started referring to an emerging HQ hotspot – the growing northeast Phoenix area near Loop 101 – as “Headquarters Alley,” where Discount Tire, Republic Services and now Sprouts Farmers Market are all in…»
Retail construction accelerates in Phoenix, bucking national trend
Following more than a decade of limited activity, the Phoenix retail development pipeline is expanding again. About 2.8 million square feet of retail space was under construction in the Greater Phoenix area in the first quarter of 2026, an acceleration from the 1.6 million square feet underway on average from 2015 to 2019. That amount represents about 1.1% of existing stock, ranking the Valley among the top-five markets in the nation for most retail space underway, on both an absolute…»
Phoenix among cities leading the national office conversion trend
The COVID-19 pandemic brought a reckoning to office space, leaving large-scale vacancy in major cities, including Phoenix, where the vacancy rate reached 22.8% in the first quarter of 2026. The move away from office space has left some buildings functionally obsolete, priming them to be converted to a different use, or razed and redeveloped. In Phoenix, about 1,500 apartment units are planned to be created through converting offices to residential use, according to a report from RentCafe…»
Mystery LLC wins $180M Desert Ridge land auction after 90-minute bidding war
After an hour-and-a-half-long bidding war, a winner finally emerged during an Arizona State Land Department auction on April 30. Desert Ridge 293 LLC placed the winning bid of $180 million. That LLC was incorporated on April 8 in Delaware — a state notorious for helping safeguard the identities of entities registered there. The representative holding the winning paddle was Lori Anderson with eXp Realty. The 293.5-acre site, which is located at Deer Valley Drive and…»
From stalled to rising: One Camelback moves closer to reality
After years of speculation and a high-profile ownership reset, One Camelback is no longer a question mark on the Uptown skyline. It is a construction site in motion. Kinella Capital, LLC, led by developer TK Stratton, has reached several key milestones at the long-stalled office-to-residential conversion, signaling that one of Phoenix’s most talked-about projects is firmly back on track for a fourth quarter 2026 completion. “The progress happening right now is what people have been…»