Daily News 9-14-2026

The roughly 233-acre luxury resort and retail Legacy Park development in southeast Mesa is one critical step from becoming a reality. The Mesa City Council will consider on Sept. 14 whether to annex the land needed for the proposed Legacy Park and Gateway Crossing projects and whether to approve a development agreement that would pay for new roads, a park and a pedestrian underpass. Legacy Park would be located northeast of Ellsworth Road and Williams Field Road. Gateway…»

Phoenix apartment rents slipped modestly in August, extending a multiyear stretch of soft conditions, but underlying market conditions suggest the sector may be turning the corner. Average asking rents declined 0.1% in August, bringing year-to-date growth to 0.3%. While still a subdued performance by historical standards, the market’s pricing trajectory has improved notably compared with recent years. Through the first eight months of 2025, asking rents had fallen 1.4%, while…»

Commercial real estate investors hoping that Treasury yields will eventually fall back to their pre-pandemic range may need to adjust their expectations. Cohen & Steers believes the 10-year Treasury’s fair-value range is roughly 4.5% to 5%, according to Jeff Palma, the firm’s senior vice president and head of multi-asset solutions. If that view proves correct, it would signal a lasting shift in the interest-rate backdrop that supported property values and financing strategies for much of…»

The new owner of a notable downtown Phoenix tower just closed on a $44.5 million loan to renovate and reposition the property for new office users. The 26-story high-rise – built in 2010 at 333 N. Central Avenue – had been the longtime home of Freeport-McMoRan until the mining giant began moving out of the top floors it occupied during the Covid-19 pandemic. Freeport-McMoRan occupied eight floors, amounting to roughly 250,000 square feet. It officially terminated its lease…»

Two record-setting deals highlighted the biggest commercial real estate deals in Metro Phoenix from August of 2026. Here are the five biggest commercial real estate deals in Metro Phoenix from August of 2026, according to data collected by the commercial real estate tracking website Vizzda and AZRE magazine. 1. Park 303 Phase 2 – Buildings A and B. Sale price: $170,250,000. Location: 16400 and 16500 N. Glendale Ave., Litchfield Park. Property description: 1,113,135…»