Today’s News 9-8-2025

Eight of the top 10 markets for the strongest retail rent growth last quarter were in the Sun Belt, including two that happen to be in the Southwest and at higher elevations: Las Vegas and Phoenix. While the average asking rent at U.S. retail properties rose 2.4% annually by the second quarter of 2025, Sun Belt metropolitan areas continue to outshine other areas as strong population growth, rising incomes and limited space availability…»

PHOENIX — HonorHealth, one of the largest nonprofit health care systems in Arizona, announced Tuesday that it has reached an agreement to acquire Evernorth Care Group. Evernorth Care Group, which operates 18 metro Phoenix primary care clinics, currently serves as the medical practice division of Cigna HealthCare of Arizona. HonorHealth already has over 200 primary, specialist and urgent care locations along with…»

Scottsdale-based Modus Development is breaking ground in November on Papago Village, a luxury build-to-rent community with Camelback Mountain views. Taking over the former Scottsdale headquarters of Vitalant at 6200 E. Oak St. in March 2024, Ed Gorman plans to build 94 luxury rental units on the site. The founder of Modus Development said the $60.2 million project will open in May 2027. The general contractor…»

Glendale is the most affordable Valley city for renters. The typical one-bedroom in the West Valley city, home to State Farm Stadium where the NFL’s Arizona Cardinals play, rents for $1,050, according to national rent research firm Zumper. Helping renters is the almost 14% percent drop in Glendale’s average rent during the past year. That was the biggest decline among major Phoenix-area cities. Glendale’s median rent…»

A new ranking of America’s fastest-growing affordable suburbs is giving a better idea of just how influential the Phoenix Metro is on the national stage. Four Metro Phoenix suburbs — Maricopa (#9), Buckeye (#15), San Tan Valley (#16), and Goodyear (#26) — rank among the fastest-growing and most affordable suburbs with home values under $500,000. Using data from Zillow and the U.S. Census Bureau, the study highlights suburbs…»