Commercial Real Estate & Business News 5-29-2025

Newly released data from the U.S. Census Bureau provides a more granular look at which cities and towns within the Phoenix metropolitan statistical area (MSA) have powered the Valley’s strong demographic momentum. In the four-year period from July 1, 2020, to July 1, 2024, the Phoenix MSA’s total population grew by 311,300 people, the fourth-most in the nation. That amount equates to a 6.4% increase, the 10th-most in the United States among metropolitan…»

The Phoenix metro has become one of the most aggressively built apartment markets in the nation, and vacancies are climbing as the new supply coming online is outpacing demand. The recent Q1 2025 Multifamily Market Report for the Phoenix market from real estate investment firm Matthews found that about 23,000 apartment units were under construction during the first quarter, which amounted to 5.5% of existing inventory in the market. That share made Phoenix…»

Jerry Colangelo’s JDM Partners is planning to redevelop its Biltmore area office into a high-end condominium development that will include a new restaurant. According to plans submitted to the city, the development, called 2400 Biltmore, will include up to 203 for-sale luxury condo units, ranging from one to four bedrooms, with an average size of more than 2,000 square feet per unit. The project will include razing three office buildings on the site, which have…»

In 2025, some economic forecasters have been bracing for trouble, as their outlooks darkened by a confluence of warning signs. Moody’s highlighted rising consumer delinquencies, declining corporate earnings and surging yields on the 10-year Treasury note as evidence that the economy was teetering toward a downturn. By April, the specter of tariffs returned, stoking fears that inflation could reignite and tip the country into recession. Adam Posen, president of the…»

Location: Along the east side of Loop 101, between Pima and Bell roads, in north Scottsdale. Description: Mack Real Estate Group is building a 1.2 million-square-foot light industrial development called Mack Innovation Park. The complex will feature 11 buildings, nine of which will be industrial structures spanning over 1 million square feet. Mack is building the project in multiple stages, with the initial phase set to span 124 acres and include two of the industrial buildings…»