Commercial Real Estate & Business News – March 17, 2025

The first phase of a $1 billion project to redevelop a shuttered Scottsdale theme park will include restaurants, shopping, housing and a central park space.The Parque, a project to redevelop the former CrackerJax site at Scottsdale Road and Tierra Buena Lane was approved by…»

Two of the nation’s largest homebuilders just plopped down a total of $54 million to buy the first nearly 600 lots at Saddleback, a new, 5,300-acre master-planned community being developed in north Peoria. Miami-based Lennar Corp. (NYSE: LEN) and Scottsdale-based Taylor Morrison…»

Metro Phoenix’s population grew by nearly 85,000 people between 2023 and 2024, thanks in large part to international migration, according to new U.S. Census Bureau estimates. Why it matters: Population growth typically juices employment and the economy, George Hammond, director of the Economic…»

Office-to-apartment conversions are at a new all-time high, with the pipeline reaching 70,700 units as of 2025. More than two-thirds (68%) of all future apartments retrofitted from offices are located in 20 metros — and Phoenix is one of them, ranking as the nation’s 11th major retrofitter. Let’s dive into the details…»

Right-sizing the federal government’s real estate footprint has long been proposed as a means of saving taxpayer money. A CoStar analysis suggests the new administration’s possible targets for lease terminations could put more than 200 buildings at risk of financial distress, even if the cuts would…»