Phoenix

The Phoenix office market completed its 33rd consecutive quarter of growth in the second quarter, despite the economic disruption.

Most inventory added in Q2 since 2017, with strong absorption rates and slight increase in rents. Sales have slowed to a crawl, but Colliers sees "a conglomerate of deals" once pandemic conditions improve.

The market had a strong growth run before the pandemic, and early signs show that it is weathering the storm better than other regions.

The pandemic struck at the worst time for Phoenix hotels, but a diverse tourism market and little reliance on convention business will fuel a swift recovery.

The $2 billion luxury development was able to work through the pandemic and restrictions to stay on schedule for its end-of-year opening.

The report found patients are trying to avoid hospitals during the COVID-19 pandemic, with some going so far as to say they wouldn't go to the ER for a medical emergency.

The acquisition of the 442-unit, Tides at South Tempe represents FCP's first investment within the state.

Matthews Real Estate Investment Services is moving forward with plans to open a Phoenix office and expand across the US.