Phoenix office vacancy turned the corner in 2025
Following five years of disruption, the Phoenix office market took a step toward recovery in 2025. The vacancy rate for traditional office buildings fell from a record high of over 24% in 2024 to 23.3% by the end of last year. While the improvement was gradual and kept vacancy in the Valley’s office market above levels seen during the worst of the Great Recession, the inflection point is an important sign that conditions are no longer worsening and that the long road to recovery…»
Sheraton Phoenix Crescent to become “attainable luxury” apartments
per Trillium Management president Kenneth Losch. A swanky, landmark hotel in north Phoenix that’s been shuttered for several years will get new life as “attainable luxury” apartments near the planned Metrocenter mall redevelopment. Why it matters: That area of north Phoenix is in the midst of a massive transformation and the redevelopment of the Sheraton Phoenix Crescent will add to the area’s renewal. The big picture: Foundation 8, a partnership between Trillium Management…»
Belgravia Group tops out first phase of $90M Scottsdale condos; plus more Valley deals
Chicago-based Belgravia Group topped out the first phase of Atavia, its 88-unit Scottsdale luxury condominium project it’s developing across the street from its 112-unit Portico. Upon completion, Atavia will total 14 four-story buildings with homes priced between $860,000 and $1.7 million in a gated community within DMB Associate Inc.’s $1 billion One Scottsdale mixed-use project at the northeast corner of Scottsdale Road and Loop 101. Homes will range between 1,570 and 3,015…»
Arizona outpaces the nation on income and hiring: Here are the numbers
Arizona is outpacing the nation on income and hiring even as U.S. job growth stumbles, according to research from the Economic and Business Research Center (EBRC). Total U.S. nonfarm payroll employment slid 92,000 in February, and the unemployment rate changed little at 4.4%, based on the Bureau of Labor Statistics employment situation release. Employment decreased in health care (-28,000), information (-11,000), federal government (-10,000), and transportation…»
New report shows Arizona added a record amount of solar capacity in 2025
New data shows that Arizona installed a record amount of solar capacity last year. Arizona added nearly 2-gigwatts of solar power, bringing the total amount statewide to about 11.5 gigawatts. To put that in perspective, APS’ peak demand last year was more than 8 and a half gigawatts. The gains were the largest among utilities, followed by residential and commercial sectors. While Arizona added a record amount, the rest of the nation saw a decline in solar…»