Daily News 9-10-2026

Phoenix-based RED Development scooped up a north Phoenix office complex poised for a conversion into an industrial park on September 3, according to Maricopa County property records. The site is off Interstate 17 and Thunderbird Road and is currently home to two vacant office buildings totaling over 500,000 square feet. In the 1960s it was a tech campus for General Electric, and then later for Honeywell, according to planning documents filed with the city of…»

U.S. hiring accelerated in August, but that headline offered a less decisive signal than the overall gain suggested. Employers added 162,000 jobs, well above economists’ expectations, and revisions lifted the combined June and July totals by 55,000. Even so, one month does not establish a trend. The composition of hiring, lingering weakness in office-using sectors and a continued slowdown in annual wage growth point to a labor market that is stable rather than broadly…»

For decades, a college degree has been one of the clearest paths to lower unemployment, higher earnings and greater spending power. That relationship still holds in the broad labor market. But among younger workers, a notable reversal has emerged that commercial real estate investors should watch. Since about 2023, younger workers without college degrees have posted better relative unemployment trends than young college graduates, according to an analysis by labor-market…»

The New York-based developer behind a 1 million-square-foot industrial park project in north Scottsdale is moving toward its next phase. Mack Real Estate Group filed two building permits Aug. 11 with the city of Scottsdale to build a pair of shell buildings, A and B, within the 124-acre Mack Innovation Park project off Loop 101 and Pima Road. The permits had a combined valuation of nearly $28 million. Building A’s permit had a valuation of $10.2 million for 97,205 square feet, and…»

Evergreen Development, a regional commercial real estate developer headquartered in Phoenix, has acquired an 11.7-acre parcel north of Signal Butte and Warner in Mesa’s Eastmark submarket to build a mixed-use community that pairs multifamily housing with new retail. The multifamily portion will include 261 units across nine three-story buildings. Residents will have access to an amenitized clubhouse, a resort-inspired pool, a fitness center, and outdoor gathering spaces with TVs…»