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 #238 on the 2022 FORTUNE 500®*, and is among numerous defense, energy, media, hospitality and financial FORTUNE 500®* companies based in the region. Our Phoenix-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. From FORTUNE Magazine, May 2022 ©2022 Time Inc. FORTUNE and Time Inc. are not affiliated with, and do not endorse products or services of Fidelity National Financial. Fidelity National Title Insurance Company is a member of the Fidelity National Financial family of companies and the nation’s largest group of title companies and title insurance underwriters that collectively issue more title insurance policies than any other title company in the United States.


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