Local CRE Trends

Discover What’s New and Interesting in Our Backyard

Phoenix, Arizona is the fifth largest city in the United States by population and the most populous state capital. It is the center of one of the fastest growing job markets and economies in the U.S. – in the last five years, more than $4 billion was invested in office space, retail, restaurants, educational facilities, and hospitality space, according to the City of Phoenix Community and Economic Development Department. Its prime location, just a few hours from major markets in California and Mexico, makes it an ideal place for entrepreneurs to establish a new business.

Phoenix has a diverse economy with strength in technology, manufacturing, bioscience research and advanced business service. It is home to four Fortune 500 companies: Avnet, a distributor of electronic components; mining company Freeport-McMoRan; Republic Services, the second largest provider of non-hazardous solid waste collection, transfer, disposal, recycling, and energy services in the United States; and pet supply company PetSmart.

Downtown Phoenix has the highest concentration of employment in Arizona and is experiencing dramatic growth due to a number of large-scale projects such as the Phoenix Convention Center expansion, Valley Metro Light Rail and the Phoenix Biomedical Campus. The Phoenix Biomedical Campus hosts the highest concentration of research scientists and professionals in the region. The Phoenix Biomedical Campus offers a unique opportunity for bio-industry companies to connect, collaborate and partner with leading organizations in the industry, including nationally recognized biomedical education programs, according to the City of Phoenix Community and Economic Development Department.

The Greater Phoenix commercial real estate market has been on an upswing for the past several years, according to real estate services firm Colliers International. The market outlook predicts continued improvement as Phoenix attracts relocations and expansions. Recently, the Phoenix metro area tied as the ninth-fastest growing economy among the Top 25 metros, according to the U.S. Bureau of Economy Analysis.

About Fidelity National Financial

Fidelity National Financial, Inc. (FNF) is currently ranked #288 on the 2021 FORTUNE 500®*, and is among numerous defense, energy, media, hospitality and financial FORTUNE 500®* companies based in the region. Our Atlanta-based team of CRE professionals works in all facets of the industry, including power and energy projects, office buildings, industrial parks, multifamily housing, retail properties, government contracts, corporate transactions and more.

Discover what’s new and interesting in our backyard in the latest real estate news, provided courtesy of the FNF Newsdesk.

*FORTUNE®” and “FORTUNE 500®” are registered trademarks of Time Inc. Time Inc. is not affiliated with, and does not endorse products or services of, Fidelity National Financial, its subsidiaries, or affiliates.


The Latest Articles From the FNF Newsdesk:

Best no-penalty CD rates for January 2022
Most CDs have one characteristic that consumers don’t like: penalties for early withdrawals. No-penalty CDs, however, are an exception. These certificates of deposit may provide a higher fixed yield...

Housing risk intensifying in the East, Midwest and California
Despite high demand for homes and relatively low levels of distress due to the government relief applied as a result of the pandemic, pressure on certain local markets doesn’t seem to be letting...

Existing-Home Sales Reach Highest Point Since 2006
| Realtor Magazine Internet Explorer does not currently support REALTOR® Magazine search. IE users, please download Firefox, Chrome, or Edge. January 20, 2022 Existing-home sales ended 2021 on a...

Can New-Home Starts Maintain 2021 Highs?
Builders ramped up construction on new homes last year as buyers eagerly sought more housing options. Single-family housing starts jumped 13.4% in 2021 compared to 2020, the Commerce Department...

Home prices rose faster than ever in 2021. The typical home gained $50,000 in value
Home values rose faster than ever in 2021. The median sales price for an existing home was $346,900, up a whopping 17% from the prior year. That made things tough for people looking to buy a house...

Mortgage rates move up as markets warily watch Fed
Fixed-rate mortgages increased for the fourth week in a row, as markets continue to make moves in response to central bank policy. The 30-year mortgage averaged 3.56% for the weekly period ending...

Existing-home sales fall for the first time in 4 months
WASHINGTON — Sales of previously occupied homes fell in December for the first time in four months as many would-be buyers were frustrated by a lack of available houses, which fell to the lowest...

Sales of existing U.S. homes drop for first time in four months
Homes stand on a hill side in Oakland, California, U.S., on Friday, Aug. 30, 2019. Builders in Oakland are on course to create more new housing units than San Francisco this year, a notable role...

Higher construction costs force new home buyers to seek larger loans
Higher building costs pushed the average size for a mortgage on a newly constructed home to an all-time high, but also contributed to a slowdown in purchases in December, the Mortgage Bankers...

Annual Existing-Home Sales Hit Highest Mark Since 2006
WASHINGTON (January 20, 2022) – Existing-home sales declined in December, snapping a streak of three straight months of gains, according to the National Association of Realtors®. Each of the four...