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GLENDALE - Office tenants at Westgate City Center are starting to move into their new digs. More than 100 employees from Jobing.com Arena, the Phoenix Coyotes and the Arizona Sting relocated to their new office last month. The next wave should move sometime in late winter or early spring.  More…

A $40 million building sale in downtown Phoenix has real estate insiders talking up the potential for rents climbing while the area awaits more office space to be built. The recently renovated One11 West Monroe building, which is only 47 percent occupied, sold this week for double the amount for which it sold 21 months ago. In the previous $20 million deal, the building also came with 2 acres of land.  More…

Work could begin as early as March on two new hotels in a 43-acre development called 10-West Corporate Center in Avondale. Sunny Mobley, a consultant working with Parkland Developers, said the group plans six-story and four-story hotels at the site.  More…

An 18-story office building in the heart of Phoenix’s Copper Square has sold for $40 million, changing hands for the second time in less than two years. CB Richard Ellis negotiated the sale of the 244,651-square-foot building, One11 West Monroe, near Second Avenue and Monroe Street.  More…

Following a year of slumping sales, the Valley’s new home market is expected to stabilize in 2007 as builders continue to get rid of excess inventory.  More…

Metro Phoenix isn’t close to emerging anytime soon as a global or even national money center, a place where stock exchanges, world-class financial companies and legions of CEOs, investment bankers, stock researchers, accountants, corporate attorneys and other highly paid professionals call home.  More…

The key to metropolitan Phoenix’s housing market rebound is fixing its failures from the past few years. That was housing market analyst RL Brown’s message at a forecast last week.  More…

From his office at the Camelback Esplanade, Pete Bolton watches commercial real estate deals develop and crumble daily. Lately, the top executive for the Valley’s largest commercial brokerage, CB Richard Ellis, has seen a lot of done deals, especially close by. Buildings on Camelback Road have been busily changing ownership the past two years, with sales figures approaching $375 a square foot. Rents have consequently crossed the $40-per-square-foot threshold.  More…

Nearly a third of the office space in the West Valley remained vacant at the end of 2006, according to a study by Cushman & Wakefield of Arizona. But that lofty figure likely had to do with the fact that more than 400,000 square feet of office space was built in the West Valley last year, boosting the overall inventory of the region by about 40 percent.  More…

Plans for a development in Ahwatukee Foothills designed to include retail, residential and commercial uses appear stalled, and its owner has been sued for unpaid legal fees. Builders have yet to break ground for Parkhouse 50, a 36-acre development planned for 50th Street and Chandler Boulevard. Property owners recently have talked about selling the site, or part of it, to an Ahwatukee doctor and his Denver-based developer for a new hospital.  More…

One of the Valley’s largest homes - the 52,000-square-foot McCune Mansion in Paradise Valley - is on the market for $25 million. The family of the late George “Geordie” Hormel is selling the hilltop compound on 6 acres south of Lincoln Drive at 40th Street.  More…

Your homeowners association, church, business or even your home may have a tax lien that you may not know about. Unless resolved, the lien will be sold Feb. 1.  More…

From Paradise Valley Mall in the northeast to Desert Sky Mall in the southwest, seven malls in the Valley and one in Flagstaff will go under the knife this year, bringing new stores and looks to the places you shop. The malls’ owner, Phoenix-based retail developer Westcor, will revamp more than half of its malls in the Valley, making it the company’s most significant investment in renovation.  More…

Metropolitan Phoenix’s ailing home-building business got a prescription for a return to health Thursday, but some of the medicine may be hard to swallow. Analysts RL Brown and Greg Burger told a crowd of about 1,300 housing and development professionals at the Desert Ridge Marriott that Phoenix’s new-home market will get better after this year. But that is expected to happen only if builders get serious about such things as reducing speculative-home inventory and prices and making a bigger commitment to service.  More…

WASHINGTON - Sales of existing homes fell in December, closing out a year in which demand for homes slumped by the largest amount in 17 years. The National Association of Realtors reported that sales of existing homes were down 0.8 percent last month, a bigger decline than had been expected. For the year, sales fell by 8.4 percent, the biggest annual decline since 1989, when existing home sales fell by 14.8 percent. The sales figure underscored the sharp contraction that is going on in the once high-flying housing market, which before last year had set sales records for five straight years.  More…

It’s become one of the hottest addresses in the Valley’s industrial real estate market, and observers say the Williams Gateway area should only continue to draw interest as the former Air Force base continues to take shape as a commercial and industrial hub. In the past 18 months, investors and developers have spent nearly $350 million buying land surrounding the airport.  More…

With 4,620 sales recorded in December, the 2006 resale home market in Greater Phoenix continued to slow, with 5,040 sales in November, and 6,480 sales a year earlier. This is the lowest level of activity for 2006 and the lowest for December since 4,785 sales were recorded in 2000, according to a report released this month by Arizona State University Polytechnic campus.  More…

Valley mall developer Westcor will undertake a multimillion renovation campaign at six retail malls across the metro region and in Flagstaff. “We’ve never done this before. We are doing more to our portfolio starting now than we’ve ever done,” said David Scholl, Westcor’s senior vice president for development.  More…

Longer term mortgage rates were up again, albeit only slightly, during the week ending January 18 according to Freddie Mac’s Primary Mortgage Market Survey. Despite the tiny increments the market has seen over the last four or five weeks, each of the mortgage products tracked by Freddie Mac has reached the highest levels seen since early to mid-November.  More…

Arizona’s economy will take a breather from red-hot growth this year but still will grow faster than the national economy, said Edward Prescott, 2004 Nobel Prize winner in economics and economics chair of the W.P. Carey School of Business at Arizona State University.  More…