Phoenix cracks the nation’s top five ranking for retail rent growth
The average asking rent at Phoenix retail properties rose 4.9% annually in the third quarter of 2025, the fifth-largest gain in the United States among major retail markets. Last quarter’s performance narrowly edged out Kansas City’s 4.8% gain and more than doubled the 2.3% increase achieved overall in the United States. It also earned Phoenix the designation as the only market from a Mountain or West Coast state to rank in the top 10. The Valley boasts powerful…»
Office market headed for ‘normalization,’ says NAIOP report
The NAIOP Research Foundation today released its newest office market forecast, revealing that national demand for office space surged in the third quarter of 2025 — a sharp reversal from earlier in the year that may signal the beginning of a broader market recovery. The report, “Office Space Demand Forecast, Fourth Quarter 2025,” analyzes current market dynamics, economic conditions and trends shaping office utilization across the U.S. According to the study…»
New York firm scoops up Tempe student housing complex in $125M deal
A 285-unit student housing complex has sold for $125 million near Arizona State University’s Tempe campus. Park Place Tempe was acquired by SP Cardinal Tempe Owner LLC, an entity connected to New York-based investment firm Stonepeak, according to Tempe-based real estate database Vizzda LLC. The seller was New York-based Park7 Group, a real estate development company…»
Developer pivots on downtown Tempe high-rise plan, now proposes condos
A site adjacent to Tempe Beach Park where an office tower was planned is now proposed to be developed into a 16-story condominium tower instead. Houston-based Hines, which owns 1.8 acres along Rio Salado Parkway next to the park, in 2021 had proposed a 14-story office tower on the site. The project, called 250 Rio, never broke ground, and demand for office space did not…»
Queen Creek named Arizona’s biggest boomtown in new research
New research is revealing the Biggest Boomtown in Every State, and Queen Creek earned the top spot as Arizona’s biggest boomtown. This ranking highlights Queen Creek’s impressive growth and economic momentum compared to other cities across the state. GOBankingRates analyzed cities with populations between 25,000 and 500,000 using U.S. Census American Community…»