Phoenix, AZ (September 12, 2024) — The Phoenix real estate market continues to thrive, bolstered by a resilient job sector and significant population growth. According to the latest Phoenix Commercial Real Estate Market report, the city's job sector is projected to grow by 15% over the next decade, while the population has increased by 20% over the past ten years. In April 2023, 19.1% of properties in Phoenix were sold above the asking price, highlighting the strong demand in the market.

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Arizona's appeal as a business and investment destination is driven by several factors, including right-to-work laws, lower operating costs, a pleasant climate, and an attractive lifestyle. These elements have contributed to Arizona's rise in multiple economic rankings, positioning it as one of the top states for business in the United States. The state ranks high in economic performance, talent attraction, quality of life, startup survival rates, and growth, earning it the 15th spot on the list of best states to do business.

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Economic growth in the Grand Canyon State is further evidenced by its status as the second fastest-growing state in the nation, home to 5 of the 15 fastest-growing cities in America. This population surge presents ample opportunities for entrepreneurs and investors, with expanding demographics fueling demand across various sectors.

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The favorable business environment is enhanced by Arizona’s position as the third richest state in the U.S. and a modest corporate tax structure. More than 670,000 small businesses contribute to the state's vibrant economy, with key sectors including tourism, real estate, finance and insurance, information services, retail and wholesale trade, banking, and corporate support services. Several Arizona-based companies have earned spots on the Fortune 500 list, with notable operations in advanced manufacturing, real estate, mining, and online retail.

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In addition to these economic strengths, Phoenix is becoming a hub for innovation, ranking as the 7th best startup city in America, attracting significant venture capital and other forms of funding, fostering a thriving startup community.

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Manzana, a property located in the heart of Phoenix, is expected to capitalize on these favorable market conditions, offering investors projected returns of 20-24%.

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