Commercial Real Estate & Business News – April 15, 2025

McCarthy Building Companies Inc. recently began construction of the $326 million North 2 Concourse in Terminal 3 at Phoenix Sky Harbor International Airport, which includes the addition of six new passenger gates. Phoenix Sky Harbor International Airport’s Terminal 3 handles approximately 25% of passenger traffic annually. The airport served more than 52.3…»

The town Planning Commission got a look at a massive 311-acre development along Gilbert’s eastern border that is so big it will have five different zoning districts, including one for 729 apartment units. In a study session earlier this month, developer Power Ranch Land Co. submitted preliminary plans for The Ranch, located southwest of Elliot and Power roads and northwest…»

It’s been said the third time’s a charm. That’s how it worked out for Miami-based Lennar Corp. (NYSE: LEN) when it came to an April 10 Arizona State Land Department Auction. Lennar was the winning bidder for 22.14 acres of prime acreage in the fast-growing West Valley city of Peoria, where two other commercial developers bid against the homebuilder…»

PHOENIX – Housing has become a contentious issue in the Valley, with buyers and renters of all ages getting left behind as affordable options dried up. How did the metro Phoenix housing market get to where it stands today? Experts trace the current conditions back to the COVID-19 pandemic, which ended up exacerbating income inequality. When mortgage rates fell to…»

Single-family build-to-rent (BTR) housing is booming and sweeping beyond its base in the Southeast and Southwest to metros in other regions of the country. “The pre- and post-pandemic BTR landscapes are so different that comparing the two time periods is like comparing apples and oranges: The market is unrecognizable,” according to a new report from…»