Daily News 10-16-2026

Apartment rents are expected to rise in all 50 major markets RealPage tracks over the coming year, even as a weakening job market tests demand and another 320,000 units enter the market. For investors, the forecast points to a return to rent growth—but not an end to the competition from new supply. RealPage projects national effective rent growth of about 2.4% from the fourth quarter of 2026 through the third quarter of 2027. Nine of its top 50 metros are expected to post…»

A multifamily developer wants to take over a proposed office-to-apartment conversion project near Kierland, according to planning documents submitted to the city of Phoenix. Trammell Crow Residential⁠ filed plans for 14646 N. Kierland Boulevard, a 5.4-acre property that currently includes an 80,000 square-foot office built in 2000. The property backs up to the Westin Kierland Resort & Spa’s Mesquite Golf Course — where the owners have faced controversy over plans to convert…»

After nearly 10 years of delays, Chandler’s last vacant corner in the heart of downtown will be transformed into a two-tower apartment complex that includes what could be downtown’s tallest building. The 1.7-acre lot on the northeast corner of Buffalo Street and Arizona Avenue, known as Site 7, has struggled for two decades to attract a developer to build on the land. Twice since 2019, two different developers have failed to break ground on the site, one time citing economic…»

Office leasing has bounced back substantially over the past year, but structural demand and supply issues are weighing on deal sizes, making it difficult for volume to fully recover its customary level before 2020. Occupiers executed an average of about 105 million square feet in new lease transactions over the past four quarters. This represents a meaningful increase from the prior four-quarter period, when an average of only about 95 million square feet in new lease commitments were…»

Marcus & Millichap has published its Q4 2026 Phoenix Metro Area Office report, which shows the Phoenix office recovery is contained to select submarkets and property segments. “Phoenix is not experiencing a broad-based office recovery. We are seeing a flight to quality, with the strongest assets and locations gaining momentum while older commodity space continues to face significant pressure.” said Ryan Sarbinoff, senior managing director, market leader. Key findings include:…»