Phoenix developer Vestar eyes two state land parcels for mixed-use projects near TSMC
Phoenix-based retail developer Vestar has its sights set on two pieces of vacant desert land owned by the state of Arizona that it wants to scoop up at auctions sometime this year. Both sites are just east of Interstate 17 – across from TSMC Arizona’s sprawling campus and in an area slated for millions of square feet of new commercial development and thousands of new housing units. The first property Vestar wants to develop totals about 186.8 acres, spanning from Dove Valley…»
What’s being built at the old Smitty’s grocery in downtown Peoria?
Location: 85th and Grand avenues in Peoria. Description: It may not look like it, but a 200-unit apartment and townhome complex that had its groundbreaking ceremony in May 2025 is still planned for downtown Peoria. Peoria Gateway will have 15 three-story buildings, according to a website dedicated to the project by real estate investment firm Viking Capital. There will be 120 one-bedroom units, 56 two-bedroom units and 24 three-bedroom units. The complex was previously going…»
Construction to See Slowing Employment Growth Through 2027
The Arizona Office of Economic Opportunity has released its Arizona 2025-2027 Projected Employment Report, and the Construction sector falls toward the middle of the pack with an annualized percentage change of 0.3%. Overall job growth across sectors is set at an estimated 0.7% annually from Q2 2025 to Q2 2027. In its sector summary, the report says, “Construction is expected to add 1,296 jobs (0.3% annually) from 228,097 in Q2 2025 to 229,393 in Q2 2027. Continued…»
BPR Companies breaks ground on Commerce 303 in Glendale
BPR Companies announced the official groundbreaking on EQT Real Estate Commerce 303, a 497,234-square-foot cross-dock speculative warehouse strategically located in the rapidly expanding West Valley industrial market. Situated on a 70-acre site at 15600 W. Camelback Rd., Glendale, Arizona 85340, Commerce 303 is designed to meet the evolving needs of modern logistics and distribution users. The state-of-the-art facility will feature 40-foot clear heights, tilt-up…»
Foreign Investors Still in the Game
Foreign investment into U.S. real estate remains resilient, though over the past year some investors have paused to recalibrate their strategies. Others are sitting on the sidelines amid geopolitical uncertainty, currency fluctuations and shifting return expectations. Cross-border acquisition volume reached approximately $31 billion, down 11 percent from $34.7 billion in 2025, according to James Nelson, principal & head of U.S. investment sales at Avison Young. “This pullback…»