Phoenix apartment rents post consecutive monthly declines
Following modestly positive performance through the first few months of the year, Phoenix multifamily rents retreated in the second quarter. The average asking rent fell 0.1% in June, matching May’s decrease and marking the third-straight month without positive movement. As a result, the Valley notched a 0.2% decline in asking rents during the second quarter of 2026. While underwhelming for a market that averaged 1.5% growth in the second quarter from 2017 to 2019, this year is…»
Okland Construction signs 85,241-SF lease at 17 North Corporate Center in Phoenix
A joint venture of Ryan Companies US, Inc. (Ryan), a national commercial real estate solutions provider, and Standard Real Estate Investments, LP (Standard), a national real estate firm with offices in Los Angeles and Washington, D.C., announced today it has inked an 85,241-square-foot lease with Okland Construction at the 17 North Corporate Center industrial complex in Phoenix. The firm, which specializes in delivering complex projects in healthcare, advanced technology,…»
Developer seeks rezoning for four-story multifamily project along I-17
Developers are working to set up a prime 15-acre parcel in Deer Valley off Interstate 17 for a new apartment complex. The Deer Valley Village Planning Committee will hear a rezoning request July 6 from The Garrett Companies, which is proposing to build a 336-unit, four-story multifamily project at the southwest corner of I-17 and Rose Garden Lane. The project will only include multifamily, according to site plans submitted to the city – although grocer Safeway owns the property, along with…»
Phoenix build-to-rent community sells for record price
Cavan Cos. has sold a Phoenix build-to-rent housing community for record price of $112.5 million. The sale of the 334-unit Bungalows on Camelback rental community makes it the highest-priced sale of any BTR asset in Arizona, said Connor Devereux, senior director of market analytics for CoStar Group/Homes.com. It also qualifies as the fourth-largest multifamily deal of 2026, Devereux said. Cavan, which built the property in 2022, sold the community at 4747 N. 99th Ave., Phoenix, to…»
545,000 square feet of Class A Valley offices go on the market
Three Class A offices totaling 545,000 square feet have been listed for sale in the Phoenix metro as the market continues to recover post-pandemic. Office buildings in Chandler, Scottsdale and Phoenix have hit the market as office vacancies decline, rent prices climb, companies relocate to the metro and more employees return to the office. The three listings — being represented by Newmark brokers Barry Gabel, Chris Marchildon and CJ Osbrink — offer the latest test of investor appetite for…»