Daily News 11-5-2026

The U.S. economy expanded at a 3.4% annualized pace in the third quarter, powered by consumer spending and a surge in business investment tied to the artificial intelligence buildout. The household side of that picture looked less sturdy by the end of the quarter. In September, inflation-adjusted spending held essentially flat, real disposable income fell and households set aside a smaller share of their income. Consumers are feeling it: the University of Michigan’s consumer sentiment index…»

A Maricopa County judge issued a final judgment that the developer of a long-stalled downtown Phoenix apartment tower “materially breached its contract” with one of the Valley’s most prolific general contractors. Maricopa County Superior Court⁠ Judge John L. Blanchard found in the Nov. 2 ruling that XSC Phoenix Investment 2.0 LLC, an entity affiliated with Chicago-based developer The X Co., violated the Arizona Prompt Payment Act and breached its contract with general contractor Clayco…»

The Hampton Group, a Scottsdale-based commercial real estate developer, is behind the 245-unit project called Ikonic Scottsdale. Straddling the border between north Phoenix and Scottsdale, Ikonic joins a growing list of multifamily and mixed-use developments that surround both communities’ burgeoning Loop 101 corridor. The large project is set to include a pool and spa, a game room, a golf simulator and private event space, all on the rooftop. Elsewhere in the building, there will be a…»

Medical office tenants are taking space at the fastest pace in nearly five years, and almost nothing new is being built to replace it. That combination points to a long period of tight supply that should favor owners of existing healthcare buildings. Avison Young’s latest U.S. healthcare market trends report shows that investors have not fully caught up. The firm describes a “growing disconnect between strengthening fundamentals and slowing transaction activity.” Construction Falls to a 10-Year…»

An office-to-industrial project in Tempe has met another milestone after construction went vertical with the installation of concrete wall panels. A panel-tilt event was held Oct. 28 for the two-building 255,000-square-foot Class A industrial development called Sky Harbor Logistics at 1515 W. 14th Street. Lincoln Property Co.⁠ is developing the project and leasing it while Willmeng Construction, Inc.⁠ is serving as the general contractor. Butler Design Group, Inc.⁠ is the architect, and Riggs…»