Phoenix Business News
Finance
Rising Home Prices in Arizona Impact Buyers
News Summary Home prices in Arizona are on the rise, creating affordability concerns for buyers amidst changing market conditions. The average mortgage rate is currently 6.27%, increasing monthly payments. Phoenix-Mesa-Chandler...
Recognition of Arizona’s Business Leaders
News Summary Az Business magazine has unveiled its list of the 2025 Most Powerful People in Arizona Business, featuring influential leaders like Pam Kehaly, who emphasizes collaboration and inclusivity. The...
Phoenix Office Market Shows Signs of Recovery
News Summary Phoenix’s office market is experiencing a positive transformation as recent reports indicate growth in total net absorption and an increase in sales price per square foot. This rise...
Greater Phoenix Economic Council Welcomes New Board Members
News Summary The Greater Phoenix Economic Council (GPEC) has announced the addition of 13 new members to its Board of Directors, growing its total membership to 92. The new appointees...
Three Arizona Lottery Players Win $50,000 Each
News Summary The Arizona Lottery has announced that three players won $50,000 each from two different games over the weekend. A winning Mega Millions ticket was purchased in Tempe, while...
Arizona Lottery Powerball Jackpots Reach $482 Million
News Summary The Arizona Lottery has reported a significant increase in Powerball jackpots, which now stand at an astounding $482 million. With the next drawing approaching, players are eager to...
Arizona Lottery Sees Surge in Big Winners
News Summary The Arizona Lottery is experiencing a surge in big winners, attributed to various games like Powerball and Mega Millions. Recent payouts have captured the attention of players statewide,...
Arizona Lottery Celebrates Big Winners After Powerball Draw
News Summary The Arizona Lottery is celebrating a surge in big winners following a record Powerball jackpot, with numerous participants claiming life-changing prizes. Recent drawings included several $50,000 winning tickets...
Karrin Taylor Robson Leads in Arizona Governor Race Polling
News Summary Recent polling indicates that Karrin Taylor Robson is gaining traction over incumbent U.S. Representative Andy Biggs in the Arizona Republican primary for governor. Currently, 37% of surveyed Republicans...
Construction
Phoenix City Council Considers Art Mandate for New Developments
News Summary The Phoenix City Council is preparing to vote on an ordinance that would require art installations in new developments. This proposal, ‘Art in Private Development,’ aims to allocate...
Phoenix Office Market Shows Signs of Recovery
News Summary Phoenix’s office market is experiencing a positive transformation as recent reports indicate growth in total net absorption and an increase in sales price per square foot. This rise...
Trammell Crow Company Breaks Ground on West 101 Logistics Center
News Summary Trammell Crow Company has commenced construction on the West 101 Logistics Center in Phoenix, Arizona. This major development will feature five industrial buildings totaling over 1 million square...
Phoenix Rental Market Remains Competitive Amid Construction Boom
News Summary Phoenix is witnessing a strong rental market despite a slight decrease in occupancy rates. Rental demand is high, with many tenants opting to renew leases rather than move....
Phoenix Welcomes West 101 Logistics Center Development
News Summary Phoenix has welcomed a significant industrial project as Trammell Crow Company breaks ground on the West 101 Logistics Center. Encompassing five buildings totaling 1,088,747 square feet, the project...
Arizona Cardinals Unveil Plans for New Training Facility
News Summary The Arizona Cardinals have announced plans for a state-of-the-art training facility located at Paradise Ridge in north Phoenix. Spanning 30 acres, the new center will feature advanced amenities...
IDI Logistics Acquires Industrial Property in Phoenix
News Summary IDI Logistics has successfully acquired a 101,794 square-foot industrial property located at 3302 W. Washington St. in Phoenix for $20 million. The facility, which is currently vacant, features...
Vestar and Pacific Proving Unveil Legacy Park in Phoenix
News Summary Vestar and Pacific Proving have announced plans for Legacy Park, a large mixed-use development in the East Valley of Phoenix. Set to begin construction in 2027, the project...
Metro Phoenix Experiences Multifamily Housing Market Imbalance
News Summary Metro Phoenix is currently facing a multifamily housing market imbalance as a surge in construction struggles to meet soaring demand for rental units. With migration rates high and...
Real Estate & Properties
Rising Home Prices in Arizona Impact Buyers
News Summary Home prices in Arizona are on the rise, creating affordability concerns for buyers amidst changing market conditions. The average mortgage rate is currently 6.27%, increasing monthly payments. Phoenix-Mesa-Chandler...
Dominion Group Properties Gains Recognition in Phoenix Real Estate
News Summary Dominion Group Properties, a North Phoenix real estate agency, is earning accolades for its exceptional client service and market insight, reflected in rising Google reviews. Founded in 2010,...
Phoenix Office Market Shows Signs of Recovery
News Summary Phoenix’s office market is experiencing a positive transformation as recent reports indicate growth in total net absorption and an increase in sales price per square foot. This rise...
Phoenix Housing Market Faces Significant Correction
News Summary The Phoenix housing market is undergoing a significant correction with declining home prices and increased inventory. Nearly half of home listings have been on the market for over...
Phoenix Rental Market Remains Competitive Amid Construction Boom
News Summary Phoenix is witnessing a strong rental market despite a slight decrease in occupancy rates. Rental demand is high, with many tenants opting to renew leases rather than move....
Arizona Cardinals to Relocate Training Facility to Phoenix
News Summary The Arizona Cardinals are moving their training facility to Paradise Ridge, Phoenix, shifting from Tempe. The new $136 million site will offer expansive training areas and modern amenities....
Phoenix Becomes Fastest-Growing Millionaire Hub
News Summary Phoenix is seeing a remarkable 519% increase in millionaire renters from 2019 to 2023, as luxury renting becomes the preferred lifestyle choice for affluent individuals. High earners prioritize...
IDI Logistics Acquires Industrial Property in Phoenix
News Summary IDI Logistics has successfully acquired a 101,794 square-foot industrial property located at 3302 W. Washington St. in Phoenix for $20 million. The facility, which is currently vacant, features...
Vestar and Pacific Proving Unveil Legacy Park in Phoenix
News Summary Vestar and Pacific Proving have announced plans for Legacy Park, a large mixed-use development in the East Valley of Phoenix. Set to begin construction in 2027, the project...
Marketing
Harkey Media Expands Out-of-Home Advertising in Phoenix
News Summary Scott Harkey, an advertising executive in Phoenix, is aggressively acquiring billboard operations, aiming to establish Harkey Media as the largest independent player in the out-of-home advertising sector. With...