Phoenix Business News
Finance
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...
Metro Phoenix Ranks Second in North America for Data Center Development
News Summary Metro Phoenix is rapidly developing into a major hub for data centers, now ranking second in North America, with a low vacancy rate of 2.3%. With 4.2 GW...
Phoenix Ranks Fourth Fastest-Growing City in the U.S.
News Summary A new report by Coworking Cafe has identified Phoenix, Arizona, as the fourth fastest-growing city in the United States based on economic growth from 2019 to 2023. The...
Macerich Sells $150 Million in Phoenix Real Estate
News Summary Macerich Co., a California-based real estate investment trust, has sold nearly $150 million worth of properties in Phoenix, including its stake in the Biltmore Fashion Park. This strategic...
Tucson Faces Economic Challenges Amid Job Losses
News Summary Tucson is grappling with significant economic issues, marked by a growth rate notably lower than the state average, job losses primarily in professional sectors, and a decline in...
Phoenix Real Estate Market Experiences Shift Favoring Buyers
News Summary The Phoenix real estate market is undergoing a notable transformation as inventory rises, giving buyers more negotiating power. With nearly 25,000 homes listed, buyers can negotiate better terms...
Shifts in the Phoenix Housing Market Favor Buyers
News Summary The Phoenix housing market is seeing a transition towards a buyer-favorable environment with falling home prices and increased inventory. The median sale price dropped by 0.2% year-over-year to...
Metro Phoenix Housing Market Faces Affordability Crisis
News Summary Metro Phoenix’s housing market is grappling with high demand, rising interest rates, and limited inventory, leading to an affordability crisis. With a median home price nearing $459,000, essential...
Fairfield Residential Acquires $244.8 Million Multifamily Portfolio in Phoenix
News Summary Fairfield Residential has acquired a multifamily portfolio valued at $244.8 million in the Phoenix metropolitan area, consisting of 907 units across three apartment complexes. This strategic purchase increases...
Construction
Phoenix Construction Market Sees Targeted Growth Amid Tariff Pressures
News Summary The Phoenix construction market is witnessing targeted growth in sectors like industrial, retail, healthcare, and office improvements despite recent tariff pressures impacting material costs. As developers adapt to...
Phoenix Construction Market Faces Tariff Challenges While Growing
News Summary The Phoenix construction market is showing targeted growth in key sectors like industrial and healthcare despite new tariffs and shifting demand. Developers are adapting strategies to navigate the...
iCOAT Products Begins Rebuilding Efforts After Tragic Crash
News Summary iCOAT Products in Phoenix is starting the rebuilding process after a fatal crash and warehouse fire last month. The company faces challenges with insurance claims and security issues...
Queen Creek Ranked Sixth in Nation for Popularity Among Movers
News Summary The 85142 ZIP code in Queen Creek has gained national attention by ranking sixth for popularity among movers in 2025, with 3,059 relocations reported between January and May....
JLL Capital Markets Completes $266 Million Office Sale in Phoenix
News Summary JLL Capital Markets has finalized the sale of six Class A office properties in Phoenix, Arizona, for $266 million. The transaction is part of City Office REIT’s portfolio...
TSMC Begins Construction on Water Reclamation Plant in Phoenix
News Summary Taiwan Semiconductor Manufacturing Company (TSMC) has started construction on a 15-acre Industrial Reclamation Water Plant in north Phoenix. This facility aims to enhance wastewater recycling, achieving a target...
YouthBuild Phoenix Program Offers Career Opportunities
News Summary The YouthBuild Phoenix program is giving young adults aged 17-24 a chance to enhance their educational and employment prospects. Participants can earn a GED while gaining hands-on construction...
Metro Phoenix Ranks Second in North America for Data Center Development
News Summary Metro Phoenix is rapidly developing into a major hub for data centers, now ranking second in North America, with a low vacancy rate of 2.3%. With 4.2 GW...
Phoenix Rises as Key Apartment Construction Hub
News Summary The Phoenix metro area has emerged as a leading location for apartment construction, ranking as the 4th busiest builder in the U.S. Significant developments like the luxury Ray...
Real Estate & Properties
Phoenix Metro Area Shifts to Buyer’s Market with More Inventory
News Summary The Phoenix metro area is witnessing a shift towards a buyer’s market due to increased home inventory and price reductions. This change gives buyers more options and negotiating...
Queen Creek Ranked Sixth in Nation for Popularity Among Movers
News Summary The 85142 ZIP code in Queen Creek has gained national attention by ranking sixth for popularity among movers in 2025, with 3,059 relocations reported between January and May....
JLL Capital Markets Completes $266 Million Office Sale in Phoenix
News Summary JLL Capital Markets has finalized the sale of six Class A office properties in Phoenix, Arizona, for $266 million. The transaction is part of City Office REIT’s portfolio...
Maricopa Community Colleges Partner with Save the Family to Launch Phoenix Scholar House
News Summary The Maricopa County Community College District has partnered with Save the Family to establish the Phoenix Scholar House, an affordable housing complex for single-parent students. Under construction near...
Phoenix Rises as Key Apartment Construction Hub
News Summary The Phoenix metro area has emerged as a leading location for apartment construction, ranking as the 4th busiest builder in the U.S. Significant developments like the luxury Ray...
Bonus Homes Relocates Headquarters to Phoenix
News Summary Bonus Homes, a tech-driven real estate startup known for providing cash payments to homeowners, is moving its headquarters from Los Angeles to Phoenix. This strategic decision, prompted by...
Phoenix Eyes Major Commercial Development with Mortenson
News Summary Phoenix is set for a significant commercial expansion as discussions with Minnesotan developer Mortenson unfold regarding a new project on a desert site. Originally intended for a hockey...
Astra Construction Delayed for Arizona’s Tallest Tower
News Summary The construction of Astra, Arizona’s tallest tower, has been delayed to late 2026. With a budget of $650 million, the project will feature a 44-floor residential building exceeding...
Macerich Sells $150 Million in Phoenix Real Estate
News Summary Macerich Co., a California-based real estate investment trust, has sold nearly $150 million worth of properties in Phoenix, including its stake in the Biltmore Fashion Park. This strategic...
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...
