Daily News: 7-9-2026

One of the largest construction firms in the country is nearly doubling its Valley office footprint, with plans to move its regional headquarters into a new building next year in Phoenix’s Camelback Corridor. McCarthy Building Cos. signed a 96,252-square-foot, 11-year lease at 3133 E. Camelback Road, according to Maricopa County records, taking up nearly the entire 100,000-square-foot building. Andrew Cheney, Craig Coppola and Gregg Kafka with Coppola Cheney Group of Lee & Associates…»

Office tenants signed new leases for an estimated 115 million square feet during the second quarter of 2026, roughly in line with revised first-quarter numbers but still slightly below the quarterly average from 2015 to 2019. Since the middle of 2025, office leasing volume has climbed to within roughly 9% of the pre-pandemic norm for a 12-month period. Market vibrancy has made more than a full recovery, with the number of office lease transactions near the all-time high. However, the amount…»

For multifamily investors who have spent the past several years riding the rental roller coaster, new data from Apartment List suggests the market may finally be settling into a more predictable groove. The firm’s latest national rent report points to modest rent growth, a slight dip in vacancies and early evidence that the construction spike of recent years is starting to be absorbed. At the same time, Apartment List is clear that conditions remain “decidedly cool,” so the story is…»

A lawsuit filed against Phoenix targeting a common tool used to develop affordable housing would “unreasonably restrict municipal property rights,” lawyers for the city said in a court filing asking the judge to dismiss the one of the counts in the lawsuit. The suit, filed by the Goldwater Institute on behalf of Bramley Paulin, a downtown Phoenix property owner, accuses Phoenix of breaking state law when it released a request for proposals for a development that was required to include…»

Commercial property prices are inching higher again, but Green Street’s latest numbers suggest this is a market locked in a narrow trading band rather than the start of a new cycle. With the CPPI flat in June and cap rates stubborn, Green Street’s numbers suggest the next wins will be highly sector‑specific. For investors trying to time capital deployment, the story right now is less about broad‑based momentum and more about how different sectors are quietly re‑pricing under…»