Creation completes construction of $250 million Park Algodon in West Phoenix
After losing ground in 2024, the Phoenix medical office market regained its footing last year as demand rebounded, vacancy compressed and investing strengthened. Supported by steady demographic tailwinds and continued expansion in healthcare employment, the sector is entering 2026 on more stable ground, even as rent growth remains subdued. Demand formation improved markedly over the past year. The market recorded approximately…»
Phoenix ranks 13th for office-to-apartment conversions as 1,550 units take shape
Phoenix ranks No. 13 among the nation’s largest pipeline of office-to-apartment conversions. RentCafe tracked 1,550 units being converted in the metro, according to its newest report released March 24. At the beginning of 2026, 90,300 apartments were in the process of conversion nationwide, up 28% from 70,600 a year earlier, according to the report. Office conversions now account for 47% of all future adaptive reuse projects nationwide, the report said. Financial pressure…»
Aldi snags big box retail spaces left vacant by Big Lots, trampoline park
Aldi is taking up several big box retails spaces around the Valley that were left vacant by struggling retailers including Big Lots and shuttered trampoline parks, according to documents filed with Maricopa County. Since the beginning of March, the discount grocery chain has signed three leases that were filed with the Maricopa County Recorder’s Office. The new stores will be in Phoenix, Peoria and Cave Creek. The grocery chain is already…»
Peoria partners with Opus for development in Innovation Core
The Peoria City Council has approved a Development Agreement with Opus Development Company, LLC for the sale and development of approximately 12.2 acres of city-owned property located in the Peoria Innovation Core (PIC). This parcel represents the first land disposition of a portion of the 834 acres Peoria acquired through the city’s successful State Land Auction and Amkor Technology’s land exchange agreement for 104 acres in the PIC in August 2025. The Peoria…»
Downtown ‘mini neighborhood’ adds to Phoenix skyline
A new-to-market developer pulled off creating a “mini neighborhood” through a mixed-use multifamily building that now stands as one of downtown Phoenix’s tallest structures. Those efforts led to Sol Modern being selected by a panel of industry professionals as the winner of the 2026 CoStar Impact Award for Multifamily Development of the Year for Phoenix. Chicago-based LG Development opened the 29-story, nearly 750-unit Sol Modern — a project that aimed to connect Arizona..»