What’s that 8-story building going up in CityNorth in Phoenix?
Location: Southwest corner of 56th Street and Deer Valley Drive, just north of Loop 101 in Phoenix. Description: A 240-room hotel is under construction in north Phoenix’s new CityNorth development. The hotel, which is dual-branded — AC by Marriott and Element by Westin — will be eight stories tall and include 5,500 square feet of meeting and conference space. LaPour Partners and Holualoa Cos. are developing the project to fit within CityNorth’s 100-acre footprint, neighboring…»
Phoenix commercial real estate sales accelerated in 2025
Sales volume for Phoenix commercial real estate properties increased 13% year over year to about $14 billion in 2025. This marks the second consecutive year with accelerating deal flow, building on 2024’s 33% gain. The pickup in investment activity was broad-based, with each of the four primary property classes posting increases last year. The retail segment led the way, climbing 21% annually to about $2.4 billion in 2025. Phoenix was one of the top 10 best-performing retail…»
Commercial Property Prices Inch Up as Market Awaits a New Rate Signal
Commercial real estate prices are moving again. Green Street’s latest Commercial Property Price Index shows U.S. all‑property values up 0.2% in February and 2.5% over the past year, a profile that the firm characterizes as consistent with “fair” pricing and largely stable cap rates. Beneath that modest headline figure, the index paints a market still digesting the post‑2022 reset, with aggregate values 15.8% below their 2022 peak and a wide spread in performance across property…»
Peoria Innovation Core wins key approval for homes, shops and industry
An 11.5-square-mile chunk of desert in northeastern Peoria took one vital step closer to becoming the long-promised ‘Innovation Core,’ after the Planning and Zoning Commission unanimously recommended allowing industrial, commercial and residential uses there. The seven-member commission voted with minimal opposition from the public at its March 5 meeting. The decision paved the way for the city to create the Peoria Innovation Core Planned Community…»
Shifting demand and event volatility reshape Phoenix hotel performance
Phoenix’s quarterly segmentation data illustrates a market increasingly defined by demand rotation, event concentration and pricing discipline rather than growth across all major segments. Short-term travel demand was the primary catalyst behind the strongest quarters of 2024, especially in the winter-driven first and fourth quarters as leisure travel and major events filled more room rooms. This momentum allowed hotels to raise prices, reinforcing the segment’s role…»