The Recap

East Valley

Cannon Beach Surf Park in Mesa is fully opening in March, bringing waves, cliff jumping, and a skate park. Sam’s Club is coming to Mesa, investing nearly $13M in a massive new store. Meanwhile, Night Owl Pizza & Drinks is expanding to Tempe, and HonorHealth is teaming up with a new pro-level pickleball facility in Scottsdale.

West Valley

Epcor USA has moved its headquarters to Glendale after a $1.5M renovation. Buckeye’s $1B battery plant project fell through, but new buyers are eyeing the site. Glendale is raising developer fees to fund parks, safety, and infrastructure, while Buckeye is rolling out its $282M bond plan for fire stations, street improvements, and public safety upgrades.

Real Estate Market Trends

Buyers are gaining leverage as inventory climbs and demand stays soft. 15 out of 17 major cities shifted toward buyers in the past month, pushing sellers to make more price cuts. The median home price remains at $450K, while the average price per square foot is up 1.1% to $313.12. Mortgage rates dipped to 6.89%, giving buyers slightly more purchasing power, but the window to lock in a good rate may be short.

East Valley News & Developments

🏄‍♂️ Surf’s Up in Mesa: Revel Surf at Cannon Beach Expands Hours

Mesa’s Revel Surf at Cannon Beach is going full throttle starting March 1, officially launching full operational hours after a successful soft opening. This one-of-a-kind surf park anchors a 37-acre mixed-use space, featuring a 1.8-acre wave lagoon, cliff jumping, and even a skate park.

The surrounding area is shaping up, with restaurants like Bubbakoo Burritos, Moku Hawaiian Grill, and Wow Wow Hawaiian Lemonade filling out the retail space (now 75% leased). The $310 million development also includes a six-screen movie theater and two hotels, including an Aloft by Marriott.

🍪 From Cookies to Croissants: Chunk Cookies Becomes Chunk Bakery

The team behind Chunk Cookies is rebranding into Chunk Bakery, expanding its offerings from giant doorstep-delivered cookies to croissants, cinnamon rolls, sweet bread, muffins, and more. Co-owners Kurtis Toolson and Ryan Palmer, both Arizona natives, say the oversaturated cookie market pushed them to evolve.

With three locations in Tempe, Gilbert, and Queen Creek, the bakery aims to be a go-to local spot for high-quality baked goods with a homegrown feel. Savory items, like homemade bread sandwiches, are coming soon.

🛒 Sam’s Club Snags 29 Acres in Mesa

Sam’s Club is making a big move in Mesa, purchasing 29 acres near Recker Road & Loop 202 for $13 million. Plans include a 166,500-square-foot store, a 14-pump gas station, and additional retail, dining, fitness, or entertainment spaces on eight of those acres.

The project will be part of the Longbow master plan, which is also seeing new additions like 12 West Brewery, retail shops, and multifamily housing.

🍕 Night Owl Pizza & Drinks Expands to Tempe

Scottsdale’s Night Owl Pizza & Drinks is bringing its late-night pizza and arcade bar vibes to Tempe. The 5,500-square-foot space—formerly home to Riazzi’s Italian Garden—will include a central bar, arcade games, and a large shaded garden patio.

Expect a bigger kitchen and expanded menu, but the same great pizza and drinks that made it a hit in Scottsdale.

🏓 HonorHealth Teams Up with New Pickleball Facility

HonorHealth has signed on as the exclusive health & wellness partner for the massive Pure Pickleball & Padel facility coming to Scottsdale’s Riverwalk Development.

This 186,000-square-foot complex will feature 48 pickleball courts, two padel courts, and a 1,200-seat pro arena, with construction kicking off this year. HonorHealth will operate a 3,000-square-foot sports recovery center on-site, offering injury prevention and strength training programs.

With Major League Pickleball’s AZ Drive and USA Pickleball calling this facility home, it’s set to become a major hub for the sport in Arizona.

We Valley News & Developments

💦 EPCOR Moves HQ to Glendale

One of Arizona’s largest private water utility companies, EPCOR USA, has officially moved its headquarters from Phoenix to Glendale. The company acquired the former Delta Dental of Arizona office for $5.3M, investing an additional $1.5M in renovations to upgrade the space.

The 31,350-square-foot facility at 5656 W. Talavi Blvd. now houses 150 employees and features new meeting rooms, wellness spaces, and hybrid work accommodations. The move allows EPCOR to better serve its growing West Valley customer base, having added 100,000+ new connections since 2012.

🔋 KORE Power Battery Plant Falls Through, But Buckeye Sees Opportunity

Plans for KORE Power’s $1B battery plant in Buckeye collapsed after the company failed to secure an $850M federal loan. With the 214-acre site now up for sale (valued at $70-75M), Buckeye officials see new opportunities for high-tech manufacturing.

Despite the setback, city leaders remain optimistic. JLL is already marketing the site to potential buyers, and discussions are underway to replace the lost project with another major employer.

📈 Glendale Proposes Developer Fee Increases

With Glendale’s population expected to grow to 280,000 by 2034, the city is considering hiking development impact fees to fund fire stations, police, parks, and libraries.

• Single-family homes: Fees could rise 30% to $3,172 per unit

• Multi-family units: Fees could increase to $2,146 per unit

• Commercial developers: Could see an 18% increase to $2,096 per 1,000 square feet

While the city says the changes protect taxpayers from shouldering growth-related costs, homebuilders warn the fees will likely be passed down to buyers and renters, making housing even less affordable.

🏗️ 472 New Residential Units & Retail Approved in Buckeye

Buckeye’s Planning and Zoning Commission approved three major projects totaling 472 new residential units and 100K+ square feet of retail & restaurant space:

• Miller & Hazen Multifamily: 178-unit build-to-rent community with a clubhouse, pool, and dog park

• Sundance @ Buckeye: 294-unit apartment complex with attached garages and a 3,000-square-foot clubhouse

• Mix on Roosevelt Commercial Center: 48K+ square feet of retail, restaurants, and a future 40K-SF fitness center

These projects align with Buckeye’s rapid expansion and growing demand for housing and commercial spaces.

🚦 Buckeye’s $282M Bond Projects Moving Forward

Following voter approval of Propositions 494 & 495, Buckeye is allocating $282M in bond funding toward public safety and infrastructure projects.

Initial funding priorities include:

• Westpark & Victory Fire Stations: $16M each

• Public Safety HQ & Training Facilities: $6M

• Indian School Road improvements: $17.2M

• Sun Valley Parkway lighting: $5M

• Street reconstruction projects: $7.8M

Construction on some projects will begin in the next few months, ensuring residents see bond dollars at work sooner rather than later.

🏡 Real Estate Trends

🏡 What’s Happening in Real Estate This Week?

The market is still doing its best impression of a rollercoaster—one month prices are up, the next they’re down, and no one really knows when we’ll get off the ride. Right now, the average price per square foot is sitting at $313.12, which is actually up 1.1% from last month. But if you’re looking at the median home price—meaning what most people are actually paying—it’s been stuck at $450,000 since October.

So what’s driving the price swings? Luxury home sales are going strong, which is bumping up the average price, but if you’re shopping in the $400K-$600K range, prices haven’t really moved much. And if you’re a seller? Price cuts are happening left and right—in fact, they just hit their highest level in a year. Sellers are having to adjust their expectations, and buyers? Well, you’ve got a little more negotiating power than before.

📉 Is It Still a Seller’s Market? Not So Much.

Let’s talk about the Cromford Market Index, which tells us whether buyers or sellers have the upper hand. Right now, 15 out of 17 major cities in the Phoenix area are shifting toward buyers. Fountain Hills, Maricopa, Glendale, and Paradise Valley all saw their seller advantage drop by double digits. The only places showing signs of life? Goodyear and Cave Creek, but even there, the changes are tiny.

We’re also seeing more homes hitting the market while demand is only slowly creeping up now that the Super Bowl is behind us. More listings mean more choices for buyers and longer wait times for sellers. If you’re house hunting, this could be a sweet spot—more inventory and more price drops mean a better shot at getting a deal.

🏦 Mortgage Rates Are Playing Nice... For Now

There’s finally a little relief on the mortgage front—rates have dipped to 6.89%, the lowest they’ve been since December. If you’re thinking about buying, this could be the time to jump in before rates decide to climb again. A buyer with a $3,000 monthly budget can now afford a $446,000 home, which is about $7,000 more house than last week. It’s not a massive shift, but every little bit helps.

That said, rates are still high compared to what we saw a few years ago, so buyers are taking their time. Houses are sitting on the market longer—57 days on average, the slowest pace in five years—and most homes are selling for about 2% less than asking price. If you’re a buyer, this means you’ve got some room to negotiate. If you’re a seller, well… it might be time to get realistic about pricing.

⏳ What’s Next?

Spring homebuying season is kicking off, and while it’s not as wild as last year, activity is starting to pick up. More people are out touring homes, and Google searches for real estate are rising. If you’re thinking about making a move, now’s the time to keep an eye on mortgage rates—they could pop back over 7% at any moment.

Bottom line? If you’re a buyer, you have more options and more leverage than you’ve had in a while. If you’re a seller, pricing your home right from the start is going to be key. The market is shifting—how you play it is up to you

Events Across The Valley

Coming soon….

We are currently working on finding/sourcing the best way to get the most accurtate and up to date information on the events across the valley. Hopefully this will be locked in within the next few weeks! If you have any recommendations feel free to email us or just shoot us a DM on IG!

🌵See You Next Week in the Desert

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-Brad