Braemar Hotels & Resorts Inc. has entered into a definitive agreement to sell the Four Seasons Resort Scottsdale for $372 million, approximately $1.8 million per room, as the luxury hotel owner advances a broader portfolio restructuring and transition to self-management. The agreement was announced September 29, and Braemar has received a $10 million nonrefundable earnest … [More]
Falling Vacancy Masks Uneven Recovery in Phoenix’s Office Market
Phoenix’s office market is showing signs of improvement, but declining vacancy and renewed job growth are not translating into a uniform recovery. Newer buildings and sought-after locations are gaining ground, while older properties continue to face leasing challenges, according to Marcus & Millichap’s Q4 2026 Phoenix Metro Area Office report. The report points to a market … [More]
$18.5M Mesa Industrial Sale Highlights Demand for Smaller Business Spaces
Commercial Properties, Inc. announced the sale of a 72,256-square-foot, three-building multi-tenant industrial complex located at 1610, 1660, and 1750 N. Rosemont in Mesa, Arizona, for $18,500,000. The transaction highlights the continued investor demand for well-located, small-bay industrial properties and reinforces the strength of Arizona's industrial real estate … [More]
Phoenix Industrial Demand Holds Strong as Office Market Edges toward Stability
Greater Phoenix’s commercial real estate market is advancing at different speeds. Industrial properties continue to attract substantial tenant demand as new buildings enter the market, while office properties are showing modest signs of stabilization with nearly a quarter of space still vacant. Together, Kidder Mathews’ third-quarter 2026 market reports illustrate how business … [More]
Long-Stalled Phoenix Office Tower Debuts as 163-Unit Apartment Community
For years, One Camelback has stood at the center of one of Phoenix’s busiest intersections, its glass facade and dramatic silhouette impossible to miss. But while the tower had all the makings of an Uptown landmark, its transformation into apartments stalled before it could become part of daily life in the neighborhood. That is about to change. One Camelback will soon … [More]
Wrigley Mansion Acquisition Reunites Two Phoenix Hospitality Landmarks
Arizona Biltmore and the Wrigley Mansion are pleased to announce a new chapter in their shared story, with the Wrigley Mansion joining the Arizona Biltmore under ownership by Henderson Park in a joint venture with Western & Southern Financial Group, and funds managed by Hamilton Lane, South Street Partners and Pyramid Global Hospitality. Pyramid Global Hospitality will … [More]
Major Scottsdale Luxury Resort Acquired by Tribal Investment Authority
San Manuel Investment Authority, an unincorporated governmental instrumentality of Yuhaaviatam of San Manuel Nation, through its affiliated entities, announced its acquisition of Fairmont Scottsdale Princess in Scottsdale, Arizona. “We are delighted to welcome the staff and guests of Fairmont Scottsdale Princess into the portfolio of luxury non-gaming properties owned by our … [More]
Dual-Brand 174-Room Hotel Opens at Mesa’s Gallery Park
The City of Mesa, Hilton and VIVO Development Partners have celebrated the Ribbon Cutting of the new dual-brand Tempo by Hilton Gallery Park and Homewood Suites Phoenix/Mesa Airport, adding 174 hotel rooms and a new hospitality destination to Gallery Park in southeast Mesa. Located at 5057 South Power Road, within Mesa's growing Gateway Area, the four-story development … [More]
Multifamily Real Estate in the Valley: Recovery from Oversupply
Pace, success and investment opportunity vary by submarket
Across the Valley, the multifamily real estate market has faced oversupply since COVID. However, Phoenix apartment absorption is now outpacing deliverables for the first time in five years, which signals the beginning of what we expect will be a gradual recovery. It’s important to keep in mind that the pace and success of this recovery vary greatly by submarket, and … [More]
Data Centers: Changing How Arizona’s Commercial Real Estate Risk Is Insured
Arizona's emergence as a hub for semiconductor manufacturing and data center development is altering the commercial real estate landscape, and local title insurers are adapting. Increased Project Scale The scale of today's projects is unlike anything the industry has seen before. Driven by demand in artificial intelligence, cloud computing and advanced manufacturing, data … [More]
