The net absorption of industrial real estate – the amount of space occupied minus space vacated over a given period – has slowed from record levels in the wake of the pandemic, but the sector remains strong, according to the most recent NAIOP Industrial Space Demand Forecast. Total U.S. industrial net absorption in the first half of 2024 totaled 67.1 million square feet, … [More]
Global AV Integrator Opening New Customer Experience Center in Phoenix
AVI Systems, the leader in designing, installing and supporting audiovisual and unified collaboration solutions at organizations throughout the United States and around the world, announced the Grand Opening of its new facility serving Phoenix, Arizona, happening Wednesday, Sept. 25. The new AVI facility, which includes a Customer Experience Center, is located at 4710 E Elwood … [More]
Data Center Master Planner Closes on 2,069 acres in Buckeye, among the Largest Data Tech Parks in U.S.
Acquisition will support one of the largest data center technology parks in the country
Tract, a developer of master-planned data center parks, announced its acquisition of a 2,069-acre land parcel in Buckeye, Arizona. The land acquisition will be one of the largest data center parks in the United States anticipating up to 20 million square feet of data center space across as many as 40 individual data centers at full build-out. Tract is currently working with the … [More]
Downtown Phoenix Inc. Launches First 3D Digital Replica of Downtown Phoenix
Advanced mapping and data software supports urban planning, economic growth and community engagement
Downtown Phoenix Inc. announced the official debut of Downtown Phoenix’s first digital twin. The community-building organization and enhanced municipal services provider has partnered with CyberCity 3D and ORBIS Dynamics to produce a replica of Downtown that will use legions of aggregated data to highlight real-time traffic patterns, zoning ordinances, air quality, prime urban … [More]
Law Firm Expands Family Law Department with New Team
Rose Law Group, Arizona’s largest woman-founded law firm, is excited to announce a major expansion of its Family Law Department to meet the increasing demand in one of the firm’s busiest practice areas. The department has doubled its staff, bringing back a trusted attorney and introducing new talent to the team. After a brief hiatus, Audra Petrolle, a seasoned and … [More]
The Typical Homebuyer’s Down Payment Is a Record $67,500, Phoenix Up 9.4% from a Year Ago
Nearly 3 in 5 homebuyers put down more than 10% of the purchase price, one of the highest shares on record
The typical down payment for U.S. homebuyers hit a record high of $67,500 in June, up 14.8% from $58,788 a year earlier, according to a new report from Redfin, the technology-powered real estate brokerage. This was the 12th consecutive month the median down payment rose year over year. In Phoenix, the median down payment is $52,500. That is up 9.4 percent from a year ago. … [More]
ADOT Announces 18 EV Charging Stations Location Plan
Privately operated charging stations create network to reduce range anxiety
The Arizona Department of Transportation has announced the first set of awards to design, build, operate and maintain a network of privately owned electric vehicle charging stations along interstate highways. ADOT has selected firms to design, build, operate and maintain a network of privately owned electric vehicle charging stations along interstate highways. Forty-nine … [More]
HUD Awards $2.5 Million Choice Neighborhoods Supplemental Grant to Phoenix’s Edison-Eastlake Neighborhood
On Tuesday, the U.S. Department of Housing and Urban Development (HUD) awarded a $2.5 million Choice Neighborhoods Supplemental Grant to the City of Phoenix, to continue the revitalization of the Edison-Eastlake neighborhood. The grant presentation took place in the heart of the neighborhood, at Soluna, where City officials, community leaders, residents and HUD officials … [More]
National Clinical Research Group Launches Arizona Expansion
Axsendo Clinical Research, a national clinical research site network, is excited to announce the opening of its newest location in Phoenix, Arizona. Complementing ACR's existing state-of-the-art facility in Houston, TX, this expansion into the Southwest corridor will increase access to research for Phoenix's diverse patient population. "Phoenix was a strategic … [More]
Nikola Names New Chief Commercial Officer
Nikola Corporation, a global leader in zero-emissions transportation and energy supply and infrastructure solutions, via the HYLA brand, announced the appointment of accomplished transportation executive Thomas "Tom" Schmitt as Chief Commercial Officer (CCO) of Nikola Corporation. As CCO, Schmitt will align Nikola's commercial efforts to scale the company's business. He will … [More]
This Arizona Golf Course among the Most Difficult in the U.S.
New research has revealed the toughest golf courses in America, with Stone Ridge Golf Course, in Prescott Valley, Arizona ranking fourth. Premium golf apparel brand, Galvin Green, analyzed the number of keywords related to a difficult golf course, such as ‘advanced’ and ‘elevation change,’ in the TripAdvisor reviews written by average golfers for over 800 courses in the … [More]
6 of Every 7 People with Mortgages Have an Interest Rate Below 6%, Says Report
The mortgage rate lock-in effect is prompting many homeowners to stay put, contributing to America’s housing shortage, but it’s starting to ease
Nationwide, 85.7% of U.S. homeowners with mortgages have an interest rate below 6%, down from 90.6% at the start of last year and a record high of 92.8% in mid-2022. That’s according to a new report from Redfin, the technology-powered real estate brokerage. This means even more than 85.7% of homeowners with mortgages have a rate below the current weekly average of 6.46%, … [More]
Single-Family Rents Remain Burdensome Despite Slower Growth, Phoenix Sees Decreases
CoreLogic, a leading global property information, analytics and data-enabled solutions provider, today released its latest Single-Family Rent Index (SFRI), which analyzes single-family rent price changes nationally and across major metropolitan areas. National year-over-year rent growth is returning to pre-pandemic rates as prices continue to hold steady. In June 2024, … [More]
Phoenix-Based Funder Commits $35M in Equipment Financing to Connecticut MedTech Co.
Trinity Capital Inc. announced the commitment of $35 million in equipment financing to ApiJect Systems, Corp, a public-benefit medical technology company focused on prefilled, single-dose injection devices. Based in Stamford, CT, ApiJect works with pharmaceutical companies to design rapidly scalable, cost-efficient drug delivery systems, and then assists in manufacturing … [More]
Mayors Launch ‘Disagree Better Arizona’ to Elevate Civil Discourse
Mesa Mayor John Giles and Tempe Mayor Corey Woods have come together to announce the launch of the “Disagree Better Arizona” initiative, a bipartisan effort aimed at elevating civil discourse and fostering constructive dialogue across the state. The initiative introduces a free online toolkit designed to help individuals navigate disagreements in a respectful and productive … [More]
National Pool Service Leader Expands Presence in the West with Acquisition of Trusted Arizona-Based Pool Repair Co.
Landmark Aquatic, the nation’s leading provider of comprehensive commercial pool services, announced the strategic acquisition of Commercial Pool Repair. This transaction strengthens Landmark’s position in the West while expanding its geographic reach and portfolio of services in the design, construction, renovation, service, and maintenance markets. Founded in 1998 by Mike … [More]
73% of Small Businesses Have Grown in Past Year Despite Reports of Labor Challenges, Study Reveals
Almost three quarters (73%) of American small business owners say their business has grown in the last year, with even higher percentages for Black (84%) and Hispanic (80%) owners, according to the U.S. Bank 2024 Small Business Perspective that was released today. The report, which is based on a survey of more than 1,000 small business owners, explores the complex challenges … [More]
Arizona among States with Top Real Estate Fraud Losses across the U.S.
A new study reveals which states have lost the most money to real estate mortgage scams. Arizona ranks sixth for losses to real estate fraud, at an average of $29,787.31 per victim. The study by Florida personal injury lawyers Anidjar & Levine analyzed all 50 states based on the average amount of money lost to real estate fraud. The real estate fraud loss … [More]
