Mesa advances plan for first 8-story downtown office building
A vacant, desolate one-story building along Mesa’s Main Street could be transformed into an eight-story building with Arizona State University’s partnership. The city is set to release a bid in the coming weeks to redevelop a site in front of the Mesa Arts Center. It’s part of a larger plan to expand ASU’s presence in downtown Mesa, bring in Class A office space and add additional retail opportunities. Downtown Mesa currently doesn’t have Class A office…»
$400M plastics plant set to open in Eloy, promising $1B economic impact
A $400 million plastics “upcycling” facility that promises more than 100 jobs, hundreds of construction positions and more than $1 billion in projected economic impact is set to open this year in Eloy. The project will position the city as Freepoint Eco-Systems’ Southwest hub for advanced recycling. The Connecticut-based company develops large-scale “advanced recycling” plants that turn waste plastic into an oil-like feedstock for petrochemical manufacturers. During…»
US apartment rents continue to increase in February, rising for third straight month
U.S. apartment rents increased in February, with the national average increasing to $1,716, a 0.1% increase from January’s upwardly revised figure of $1,714, according to Apartments.com’s latest report on multifamily rent trends. The monthly rent increase continues the trend of rising monthly rent changes that began in December 2025, but at a moderated pace. Prior to December, rents were flat or falling for five consecutive months. Annual rent growth eased…»
Industrial and retail trends are shaping Phoenix construction market
The Phoenix construction market is entering 2026 with renewed stability and sector-specific momentum, even as data center and AI-driven infrastructure projects create new labor and equipment pressures, according to LGE Design Build’s newly released Q4 2025/Q1 2026 Construction Delivery Outlook Report. “Phoenix has transitioned from an overheated growth cycle into a more measured and strategic phase,” said Blake Wells, vice president of preconstruction at LGE Design…»
CRE Valuations Fall Below Equities for the First Time in Two Decades
Led by the office sector, commercial real estate is now “cheap” relative to US equities for the first time in approximately 20 years, according to a new report from MetLife Investment Management’s (MIM) latest U.S. Commercial Real Estate Chartbook. While real estate investors typically use cap rates to value assets, the inverse of a cap rate is roughly equivalent to a price-earnings (P/E) ratio, which is used to value stocks. The P/E ratio compares a company’s share price against…»