Daily News 9-4-2026

The Arizona economy remains resilient as it navigates evolving conditions, but it is increasingly characterized by mixed labor market conditions and slower growth. The labor market improved from dismal job growth in late-2025, but job gains were concentrated in a few sectors as employers stayed cautious about hiring. Elevated gasoline prices due to conflict in the Middle East caught highly automobile-dependent Arizonans off guard. However, retail sales have continued to grow…»

Evergreen Development Acquires 11.7 Acres in Mesa, Arizona, Plans Mixed-Use Project

Mesa, Ariz. — Evergreen Development has acquired 11.7 acres of land in Mesa, with plans to build a mixed-use project that features multifamily housing and a new retail center. The retail portion of the site is planned to comprise an approximately 8,500-square-foot multi-tenant retail building for restaurant and retail uses, as well as a 2,360-square-foot free-standing Chipotle with a drive thru. The multifamily portion will include 261 apartments across nine three-story buildings. Evergreen plans…»

Office Recovery Gains Ground as Opportunities Lie in the Divide

Office momentum is, at long last, beginning to build. Absorption has moved into positive territory, the national vacancy rate is declining and investment activity remains near pre-pandemic norms. But the recovery isn’t uniform. According to a recent Marcus & Millichap analysis, performance varies sharply by asset quality. Older buildings continue to struggle with vacancy, while newer, premier properties are achieving full occupancy and robust rent growth. In short, office attendance…»

Phoenix data center firm raises $1B to repurpose older facilities amid construction backlash

A new Phoenix-based data center company has begun acquiring data center facilities across the nation and repurposing them in preparation of what its leaders call a “fundamental shift” in digital infrastructure. Saragon, established by Miami-based private equity firm I Squared Capital after an acquisition of 10 data center facilities from Cogent Fiber LLC, is planning on using these older facilities for “edge capacity” and “AI inference.” This means the focus will be on the real-world…»

Huge new housing developments planned for Surprise

Nearly 2,400 new homes could be coming to one of the Valley’s major growth corridors in Surprise. Why it matters: The Phoenix metro area is suffering from a housing shortage, which has driven up home prices and contributed to increasing homelessness. State of play: The Surprise City Council on Tuesday approved rezoning requests for two plots of land in the Sun Valley Parkway corridor for a housing development called Buena Vista Ranch. One is on 422 acres at 227th…»