Phoenix Business News
Finance
Arizona Republic Shifts Printing Operations to Las Vegas
News Summary The Arizona Republic is moving its printing operations from its Deer Valley facility in Phoenix to Las Vegas in October 2023. This transition will result in the layoff...
Phoenix Housing Market Sees Decline in Profit Margins
News Summary The housing market in Phoenix is undergoing a significant decline in profit margins, with the median profit margin for home sales dropping to 52.4% in Q1 2025. This...
Phoenix Implements Comprehensive Regulations for Data Centers
News Summary Phoenix has taken a significant step in regulating data center operations, becoming the second city in the Valley to introduce comprehensive regulations alongside Chandler. The City Council’s unanimous...
Phoenix’s Commercial Real Estate Market Transformation
News Summary As Phoenix approaches 2025, its commercial real estate sector is experiencing significant shifts. While the office space market faces challenges with high vacancy rates, the industrial sector is...
City of Phoenix Increases Transaction Privilege Tax Rate
News Summary Starting July 1, the City of Phoenix will raise the transaction privilege and use tax (TPT) rate from 2.3% to 2.8%. This change targets specific business sectors to...
Tides on Cave Creek Apartment Complex Sold for $61.2 Million
News Summary In a significant event for the Phoenix real estate market, the Tides on Cave Creek apartment complex has been sold at auction for $61.2 million. This sale raises...
Phoenix Mayor Pushes for Responsible Chase Field Renovation
News Summary Phoenix Mayor Kate Gallego is advocating for a financially responsible bill focused on renovating Chase Field, home of the Arizona Diamondbacks. During discussions on House Bill 2704, she...
Alex Meruelo Profits from $30 Million Home Sale in Paradise Valley
News Summary Former Arizona Coyotes owner Alex Meruelo has sold his Paradise Valley home for $30 million, netting a profit of $17.9 million. The sale comes amid a cooling housing...
APS Announces Plans for Rate Increase in 2025
News Summary Arizona Public Service (APS) plans to file a rate case in June 2025, following an 8% increase in residential utility bills. This increase aims to address rising costs...
Construction
Future Trends in Office Design Explored on AZ Big Podcast
News Summary The latest AZ Big Podcast episode features insights from Kerri Swischuk and Victoria Fearey of Phoenix Design One, discussing the evolution of office design. As businesses adapt to...
AZ Big Podcast Explores Trends in Office Design
News Summary The latest episode of the AZ Big Podcast delves into emerging trends in office design, featuring insights from experts at Phoenix Design One. Hosted by Michael Gossie and...
Phoenix Industrial Construction Slows but Pipeline Remains Strong
News Summary Phoenix is witnessing a slowdown in industrial construction activity as 2025 begins, yet the city boasts a substantial development pipeline of 11.9 million square feet of industrial space....
TopBuild Corp. Acquires Progressive Roofing for $810 Million
News Summary TopBuild Corp. has successfully acquired Progressive Roofing for $810 million in an all-cash transaction. This strategic move aims to enhance TopBuild’s position in the commercial roofing market. Progressive...
Encore Landscape Management Named One of the Best Places to Work
News Summary Encore Landscape Management has been recognized as one of the best places to work in the nation for 2025 by Lawn & Landscape Magazine. This accolade highlights the...
Provident Industrial Expands to Phoenix with New Office
News Summary Provident Industrial, a division of a Dallas-based firm, is opening a new regional office in Phoenix, Arizona. This strategic expansion aims to enhance operations in the Southwest and...
City of Phoenix Increases Transaction Privilege Tax Rate
News Summary Starting July 1, the City of Phoenix will raise the transaction privilege and use tax (TPT) rate from 2.3% to 2.8%. This change targets specific business sectors to...
Kellwood Company Invests in Downtown Phoenix with $17M Purchase
News Summary Kellwood Company LLC has secured its new headquarters in downtown Phoenix by purchasing the Monroe building for $17.08 million. This strategic acquisition of the 19-story office space, totaling...
New Dual-Branded Hotel Complex Coming to Phoenix
News Summary Phoenix will welcome a new dual-branded hotel complex, featuring AC Hotel by Marriott Norterra and Element by Westin Norterra, set to open in November 2025. With a total...
Real Estate & Properties
Phoenix’s Luxury Apartment Boom: High-End Living Spaces
News Summary Phoenix is witnessing a surge in luxury apartment complexes, drawing residents with lavish amenities and sophisticated designs. Rooftop pools, stunning views, and features like dog wash spas and...
Arizona Republic Shifts Printing Operations to Las Vegas
News Summary The Arizona Republic is moving its printing operations from its Deer Valley facility in Phoenix to Las Vegas in October 2023. This transition will result in the layoff...
Phoenix Housing Market Faces Shift as Listings Surge
News Summary The Phoenix housing market is witnessing a significant shift with a notable increase in home listings, the highest since 2019. This change is occurring alongside slowing buyer demand,...
Record Transactions Transform Arizona’s Real Estate Market
News Summary Arizona’s real estate market is experiencing a historic transformation, marked by record-breaking commercial real estate transactions. With three of the decade’s largest deals happening this year, including the...
Phoenix Industrial Construction Slows but Pipeline Remains Strong
News Summary Phoenix is witnessing a slowdown in industrial construction activity as 2025 begins, yet the city boasts a substantial development pipeline of 11.9 million square feet of industrial space....
Phoenix Housing Market Sees Decline in Profit Margins
News Summary The housing market in Phoenix is undergoing a significant decline in profit margins, with the median profit margin for home sales dropping to 52.4% in Q1 2025. This...
Provident Industrial Expands to Phoenix with New Office
News Summary Provident Industrial, a division of a Dallas-based firm, is opening a new regional office in Phoenix, Arizona. This strategic expansion aims to enhance operations in the Southwest and...
Phoenix Real Estate Market Shifts Toward Buyers
News Summary The Phoenix real estate market is shifting in favor of buyers due to increased home inventory and decreased prices. Bidding wars have reduced, allowing buyers to make informed...
Phoenix’s Commercial Real Estate Market Transformation
News Summary As Phoenix approaches 2025, its commercial real estate sector is experiencing significant shifts. While the office space market faces challenges with high vacancy rates, the industrial sector is...
Marketing
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