Daily News 11-9-2026

Vestar, the Phoenix-based developer of open-air malls and shopping centers, came out victorious after a bidding war for 20 acres in north Phoenix at an Arizona State Land Department auction. The site, located north of Pinnacle High School, at Black Mountain Parkway and Deer Valley Road, was approved for a grocery-anchored shopping center in late 2024. Vestar led the rezoning and was the applicant for the auction. Three bidders competed at the auction: Vestar; Castlefin Group, a real…»

The multi-use complex, called Revelry, will feature two towers, one that is 17 stories and another that is 15, and 533 apartments. Some levels will have amenities like a bowling alley, resort-style pool, pickleball courts and a golf simulator. The east tower also includes space for retail, and according to site plans, the builder said it is ideal for a coffee shop, restaurant or boutique fitness, beauty and wellness services. The lot is across from north Tempe’s Trader Joe’s. It is in an area that has seen…»

Bed Bath & Beyond’s new owner is taking another approach to reviving the brick-and-mortar chain, opening its first standalone store since the retailer unwound its business in 2023 after filing for bankruptcy protection. Nashville, Tennessee-based Neighborhood Intelligence on Thursday said it will open a Bed Bath & Beyond this weekend at 7580 W. Bell Road in Glendale, Arizona. Additional store openings are planned for Minnesota, Florida and Mississippi next year. The Arizona store is…»

Access to electrical power has become the deciding factor in whether Phoenix construction projects move forward on schedule, even as demand remains healthy across industrial, office and retail, according to LGE Design Build’s newly released Q3 2026 Construction Delivery Outlook Report. “Demand in Phoenix is still strong across major sectors, but the variables that determine whether a project gets built on schedule have changed,” said Blake Wells, vice president of preconstruction at…»

Simon Property Group, the largest U.S. mall landlord, is turning to the commercial mortgage-backed securities market to refinance a group of shopping centers as improving mall performance draws lenders back to the sector. The Indianapolis-based company is sponsoring or co-sponsoring four loans in the upcoming $805.1 million Benchmark 2026-B44 CMBS transaction. The properties include Colorado Mills near Denver; The Falls in Miami; Arizona Mills in Tempe, Arizona; Pismo Beach…»