Daily News 9-22-2026

Retail sales in rebounded in August as consumers kept spending and the back-to-school season kicked in. Total retail sales rose 1.2% in August to $773.9 billion, compared to a revised 0.5% drop in July, and were up 6% year over year, according to the Commerce Department. It was the largest monthly increase since March. Excluding gas stations, retail sales rose 1.1% in August. (The government figures are not adjusted for inflation.) Sales at he “control group” — which excludes…»

Mesa leaders this week approved a $3B development plan that could become one of the largest hospitality and retail projects in the Phoenix metro city. The 197-acre mixed-use development, dubbed Legacy Park, is slated to include a 600-room luxury resort, thousands of apartment units, a 20-acre park and an underground pedestrian tunnel connecting it to the adjacent Arizona Athletic Grounds, 12 News reported. At full build-out, the development is also expected to include 3.8M SF…»

Phoenix is emerging as one of the more resilient major office markets in the West, with vacancy below the national average, nearly $1 billion in office sales so far this year and office-using employment posting its strongest annual growth since 2022. According to CommercialCafe’s latest national office report, which uses Yardi Research data, Phoenix’s office vacancy rate stood at 17.2% in August, compared with the national rate of 17.8%. Phoenix vacancy was unchanged from a year…»

Wespac Construction has completed the new Sprouts Farmers Market support office and flagship store at CityNorth in Phoenix, delivering a long-term home for one of Arizona’s most recognized public companies and adding a new public destination to the fast-growing North Phoenix district. The project totals approximately 186,000 SF at 20555 N. 55th St., near the Loop 101 and 56th Street. It includes an approximately 145,000 SF corporate headquarters, a 25,000 SF flagship Sprouts…»

Commercial real estate is entering a more selective capital-markets phase. The Federal Reserve’s latest rate increase and the 10-year Treasury’s sustained move above 5% do not necessarily signal an immediate shutdown in lending or transaction activity, but they do raise the standard for every refinance, acquisition and recapitalization now moving through the market. For investors, the question is no longer simply whether rates are high. It is which properties can support today’s…»