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Press coverage, market commentary, investor-learning content, and interactive tools from VAC Development.

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Chandler Bay

Chandler Bay

Bethany Bay

Bethany Bay

Bethany Bay
5 articles

Bethany Bay

Construction Owners Club

Construction Owners Club · Oct 30, 2025

Bethany Bay Industrial Project Breaks Ground in Glendale, Arizona

Arizona Contractor & Community

Arizona Contractor & Community · Oct 28, 2025

IndiCap and VAC Development Secure Funding for First-of-Its-Kind West Valley Shallow Bay Project

REBusinessOnline

REBusinessOnline · Oct 28, 2025

IndiCap and VAC Development Break Ground on $31M Bethany Bay Industrial Project in Glendale

Rose Law Group Reporter

Rose Law Group Reporter · Oct 20, 2025

Industrial Development Breaks Ground in Glendale

Greater Phoenix In Business Magazine

Greater Phoenix In Business Magazine · Oct 16, 2025

Glendale Breaks Ground on $31M Small-Bay Industrial Project Along Loop 303

1050 Waltham Way

1050 Waltham Way

Foothills Corporate Center

Foothills Corporate Center

Tropicana Beltway

Tropicana Beltway

The Gramercy Residences

The Gramercy Residences

The Gramercy

The Gramercy

Firm Coverage

Firm Coverage

Investor Learning

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Oct 12, 2026VAC Development

How the Risk-Free Rate Moves Cap Rates and Values, and What Else Sets a Cap Rate in 2026

A cap rate is the risk-free rate plus a risk premium minus expected NOI growth. Here is how the 10-year Treasury drives value, why the link ran loose in 2026, and what else moves the number.

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Oct 9, 2026VAC Development

How the Risk-Free Rate Sets Cap Rates and Values, With the 10-Year at a 24-Year High

The 10-year Treasury is the floor under every cap rate. It has climbed to about 5.3%, the highest since 2002, yet cap rates have barely moved. That gap is the whole story.

Interactive Resources

Market Data

Live Market Rates

SOFR, the Treasury curve, and Prime, updated every weekday morning.

Open the tool →Valuation

Cap Rates and Value

Slide NOI and cap rate around and watch what a quarter point does to value.

Open the tool →Valuation

Yield on Cost and the Spread

Why developers say things like 'build to a 7 in a 5.5 market.'

Open the tool →Valuation

Mark-to-Market Rents

How a below-market rent roll hides value, and what it's worth as leases reset.

Open the tool →Debt

Watch & Listen

Videos

State of the Market: Blackstone, Rising Rates, and Housing-Crash Talk
Video
Dec 17, 20225:46

State of the Market: Blackstone, Rising Rates, and Housing-Crash Talk

A late-2022 market read: rising interest rates, the Blackstone headlines, and housing-crash speculation, and what they meant for commercial real estate.

Understanding the Different Types of Commercial Real Estate
Video
VAC Development

Innovative alternative real estate investment strategies provided by experienced real estate entrepreneurs.

6623 Las Vegas Blvd S, F-340

Las Vegas, NV 89119

(949) 500-0533

invest@vacdevelopment.com

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This site does not constitute an offer to sell or a solicitation of an offer to buy any securities. Such an offer may only be made through a Private Placement Memorandum.

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Oct 7, 2026VAC Development

Extend and Pretend Is Ending in Multifamily and Office. The Fed Just Removed the Reason to Wait.

The first Fed hike since 2023 and a 10-year near 5.3% ended the premise behind extend-and-pretend, and lenders are now resolving loans instead of rolling them, with multifamily cracking alongside office.

The VAC Brief
Oct 6, 2026VAC Development

The VAC Brief: Southwest Apartments Bottom on Concessions, Not the Asking Rent

Southwest apartment demand has fully recovered, but effective rents are still negative because Las Vegas and Phoenix are clearing lease-up through concessions. The bottom shows up as free rent first, and that is where the next two years of NOI sit.

The VAC Brief
Oct 6, 2026VAC Development

The VAC Brief: Phoenix Office Recovers by Address, Not by Market

The Southwest office recovery is real but splits by address and vintage: Scottsdale and the Camelback Corridor tighten while 5.1 million feet sit empty downtown, and nationally almost no one is building, so good space is a shrinking resource.

The VAC Brief
Oct 2, 2026VAC Development

The VAC Brief: Phoenix Is the Build-to-Rent Capital of America, Just as the Supply Crests

Phoenix now has more single-family rental homes under construction than any US metro, even as apartment supply crests and BTR rents flatten nationally.

Who Uses the Colorado River, How Acre-Feet Work, and Why It Now Prices Into Your Lease
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Aug 17, 2026VAC Development

Who Uses the Colorado River, How Acre-Feet Work, and Why It Now Prices Into Your Lease

Farms use most of the Colorado River, cities use a slice, and the fight over the shrinking rest is now a real estate question: your tenant's water demand can decide whether a building gets approved.

The VAC Brief: Las Vegas Retail Sets a Rent Record as the Industrial Bid Turns Picky
The VAC Brief
Aug 17, 2026VAC Development

The VAC Brief: Las Vegas Retail Sets a Rent Record as the Industrial Bid Turns Picky

Las Vegas retail rents hit a record $2.12/SF in Q2 2026 as the Southwest runs out of shop space, while industrial capital pays a premium for specialized, net-leased buildings and shrugs at the big box.

Insurance Was the Deal Killer. The Cycle Just Turned, and Not Evenly.
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Aug 7, 2026VAC Development

Insurance Was the Deal Killer. The Cycle Just Turned, and Not Evenly.

Property reinsurance rates fell the most since 2014 in 2026, but the discount reaches your renewal only in the right markets and only if you shop it

Learn
Aug 5, 2026VAC Development

The Data Center Boom Is a Line Item on Your Operating Statement

The AI and data center buildout in Phoenix and Nevada is pushing utility rates up and grid capacity into a multi-year queue, which turns electricity into an underwriting variable for multifamily, retail, and industrial that never houses a server.

TSMC Adds $100 Billion in North Phoenix. The Story Is the Dirt Around It.
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Aug 4, 2026VAC Development

TSMC Adds $100 Billion in North Phoenix. The Story Is the Dirt Around It.

On July 16, 2026 TSMC committed another $100 billion to north Phoenix, taking its Arizona total to $265 billion. For nearby owners the number that moved is land basis: entitled supplier land is trading at five to seven times what TSMC paid for its own expansion parcels.

The VAC Brief: Retail Stops Getting Built, and the Southwest Splits in Two
The VAC Brief
Aug 4, 2026VAC Development

The VAC Brief: Retail Stops Getting Built, and the Southwest Splits in Two

US retail construction just hit a 20-year low even as space keeps leasing, while the Southwest industrial recovery splits: Phoenix and Las Vegas are tightening as Boise and Reno still digest supply.

The VAC Brief
Jul 25, 2026VAC Development

The VAC Brief: The Fed Eased, the 10-Year Didn't, and the Southwest Reloads

The Fed has been parked for six months, but the 10-year Treasury that actually prices CRE debt is higher than before it eased. Meanwhile Southwest industrial is tightening just as developers restart the speculative pipeline.

The VAC Brief
Jul 25, 2026VAC Development

The VAC Brief: The Apartment Supply Wave Crests Over Las Vegas and Phoenix

Las Vegas and Phoenix apartment rents are still falling as the 2021 to 2023 supply wave leases up, but national absorption has turned and the supply math points to a 2027 turn.

Insurance Is Softening in 2026. Your Loan Proceeds Aren't.
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Jul 25, 2026VAC Development

Insurance Is Softening in 2026. Your Loan Proceeds Aren't.

Premiums are falling across much of the market, but the relief won't rebuild the deals insurance broke, because lenders now size loans off a normalized cost and most relief sits in coastal markets we don't touch.

Learn
Jul 25, 2026VAC Development

The 2026 Refinancing Window: The Math When Your Loan Comes Due

Inflation just hit a three-year high and the Fed is on hold, yet long Treasury yields fell and CRE lending spreads tightened, opening the most executable refinancing window since 2022.

The 2027 Apartment Supply Cliff Is Already Locked In
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Jul 8, 2026VAC Development

The 2027 Apartment Supply Cliff Is Already Locked In

Soft rents in Phoenix, Las Vegas, and Boise are the end of a supply wave, not a warning. Collapsed starts have already fixed a thin 2027-2028 pipeline, leaving demand as the only open variable.

The VAC Brief: The Southwest Builds Less, and Demand Comes Back
The VAC Brief
Jul 8, 2026VAC Development

The VAC Brief: The Southwest Builds Less, and Demand Comes Back

Las Vegas industrial is now absorbing far more than it delivers while data centers reshape the land market, and the national multifamily supply wave has finally crested.

Las Vegas Commercial Real Estate Analysis: The Corporate and Sports Rewiring of Southern Nevada
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Jun 8, 2026Andrew Dunn

Las Vegas Commercial Real Estate Analysis: The Corporate and Sports Rewiring of Southern Nevada

Tilman Fertitta is buying Caesars and Barry Diller is bidding on MGM, two pro teams are moving in, and the valley is running out of land. A look at what it all means for Southern Nevada real estate.

The New Reality of CRE Hold Periods
Learn
May 4, 2026Andrew Dunn

The New Reality of CRE Hold Periods

CRE hold periods have extended 12 to 24 months since 2022. How disciplined sponsors underwrite longer exits while protecting investor returns.

Where CRE Capital Is Actually Flowing in 2026
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Apr 29, 2026Andrew Dunn

Where CRE Capital Is Actually Flowing in 2026

Banks, private credit, and the maturity wall are reshaping commercial real estate liquidity. A look at where capital is moving, where it isn't, and what that means for sponsors and investors.

The K-Economy: A Pillar of the VAC Investing Thesis
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Apr 27, 2026VAC Development Research

The K-Economy: A Pillar of the VAC Investing Thesis

VAC Development's white paper on the K-shaped economy: why bifurcated American prosperity is the structural backdrop for commercial real estate capital allocation over the next twenty-five years, and how VAC positions industrial, retail, multifamily, and infrastructure assets across the upper and lower arms of the K.

Las Vegas Retail Market Report: Q1 2026
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Apr 19, 2026VAC Development

Las Vegas Retail Market Report: Q1 2026

Southern Nevada retail posted its strongest quarter in two years. 235K SF of net absorption, vacancy down to 4.3%, asking rent at $1.96 NNN. An interactive walk through the submarkets, subtypes, and tourism backdrop that shaped Q1 2026.

Phoenix Industrial Market Q4 2025: Navigating the Shift from Boom to Balance
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Feb 17, 2026VAC Development

Phoenix Industrial Market Q4 2025: Navigating the Shift from Boom to Balance

The Phoenix industrial market concluded 2025 by demonstrating its maturity as a premier global logistics and manufacturing hub.

Las Vegas Retail Market Insights: Q4 2025 Report
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Feb 15, 2026VAC Development

Las Vegas Retail Market Insights: Q4 2025 Report

The Southern Nevada retail landscape concluded 2025 in a state of structural maturity, with historic scarcity in prime submarkets and a widening flight-to-quality performance gap.

What Did VAC Development do in 2025?
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Jan 15, 2026VAC Development

What Did VAC Development do in 2025?

While much of the commercial real estate sector spent 2025 waiting for perfect conditions, VAC Development spent the year creating them.

Advantages of Investing in Small Suite Properties for "Mom and Pop" Businesses
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Jul 20, 2025VAC Development

Advantages of Investing in Small Suite Properties for "Mom and Pop" Businesses

Investing in small suite properties, especially those designed for mom-and-pop enterprises in small bay industrial and retail spaces, delivers measurable economic impact and opportunity.

The Ultimate Guide to Tenant Screening for Commercial Properties
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May 14, 2025VAC Development

The Ultimate Guide to Tenant Screening for Commercial Properties

A bad tenant costs more than a vacant suite. Here is how to screen commercial tenants properly, by property type, and stay inside the legal lines.

Las Vegas Retail Market Report: Q1 2025
Learn
May 13, 2025VAC Development

Las Vegas Retail Market Report: Q1 2025

The Las Vegas retail market in Q1 2025 maintained stable average asking lease rates despite a decrease in overall sales volume compared to the previous year.

What Landlords Need to Know When a Tenant Files for Bankruptcy
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May 12, 2025VAC Development

What Landlords Need to Know When a Tenant Files for Bankruptcy

When a tenant files for bankruptcy, you're thrust into legal waters that are as complex as they are murky. Here's what you need to know.

Land Banking: A Strategic Analysis of Real Estate Investment and Land Management
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May 6, 2025VAC Development

Land Banking: A Strategic Analysis of Real Estate Investment and Land Management

Land banking represents a significant long-term strategy in real estate, encompassing both private investment and public land management with distinct motivations and risk profiles.

Decoding the Bond Market: What It Signals for the US and Global Economy
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Apr 13, 2025VAC Development

Decoding the Bond Market: What It Signals for the US and Global Economy

The bond market often provides insightful signals about the future direction of both the US and global economies. Here is what it was signaling around April 2025.

Mitigating Risk in CRE Deals - 5 Proven Tactics
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Apr 12, 2025VAC Development

Mitigating Risk in CRE Deals - 5 Proven Tactics

Commercial real estate deals offer significant rewards alongside inherent risks. Here are five proven tactics for managing them effectively.

Consumer Sentiment Plunges Amid Inflation Fears and Tariff Uncertainty
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Apr 11, 2025VAC Development

Consumer Sentiment Plunges Amid Inflation Fears and Tariff Uncertainty

The University of Michigan's Consumer Sentiment Index for April plummeted to 50.8, the lowest since the height of the COVID-19 pandemic, driven by inflation fears and tariff uncertainty.

Investing in Resilience: Why Experiential and Necessity Retail Centers Stand Strong
Learn
Apr 9, 2025VAC Development

Investing in Resilience: Why Experiential and Necessity Retail Centers Stand Strong

Learn why necessity-focused and experiential retail centers offer investors stability and long-term value in today's evolving commercial real estate market.

A Historical Analysis of US Tariffs and Trade: Implications of the "Liberation Day" Tariff Announcements
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Apr 7, 2025VAC Development

A Historical Analysis of US Tariffs and Trade: Implications of the "Liberation Day" Tariff Announcements

Explore the history of US tariffs, from trade wars to Liberation Day tariffs, and their profound effects on the economy, global trade, and real estate markets.

The Western US Retail Market in Q4 2024: Retail Space, Population, and Housing
Learn
Apr 4, 2025VAC Development

The Western US Retail Market in Q4 2024: Retail Space, Population, and Housing

Explore Q4 2024 retail trends in the Western US: insights on retail space availability, population growth, and housing supply dynamics across key markets.

Loss Leaders in Retail Real Estate: Driving Foot Traffic, Enhancing Tenant Synergies, and Maximizing Profitability
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Mar 9, 2025VAC Development

Loss Leaders in Retail Real Estate: Driving Foot Traffic, Enhancing Tenant Synergies, and Maximizing Profitability

Discover how loss leaders transform retail developments. Strategic anchors drive foot traffic, enhance tenant synergy, and elevate profitability.

Mapping Profitability: Unveiling the Hidden Forces Driving Strip Center Investments in the Western U.S.
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Mar 4, 2025VAC Development

Mapping Profitability: Unveiling the Hidden Forces Driving Strip Center Investments in the Western U.S.

Strip shopping centers under 40,000 SF have shown remarkable resilience across Western US markets. Here is a comprehensive analysis of market trends, cap rates, tenant mix, and recent transactions.

Investment Viability and Potential of Outdoor Shopping Centers in the U.S.
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Feb 12, 2025VAC Development

Investment Viability and Potential of Outdoor Shopping Centers in the U.S.

Outdoor shopping centers have emerged as a resilient and dynamic segment within the retail real estate market, combining accessibility, adaptability, and strong growth potential.

Navigating the U.S. Industrial Real Estate Landscape in 2025: Challenges, Opportunities, and Strategies
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Jan 20, 2025VAC Development

Navigating the U.S. Industrial Real Estate Landscape in 2025: Challenges, Opportunities, and Strategies

The US industrial real estate sector is undergoing significant transformation. Here is a comprehensive analysis of market conditions, demand drivers, regional dynamics, and strategic recommendations for 2025.

Investing in Grocery-Anchored Retail: A Sound Long-Term Investment Strategy
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Dec 13, 2024VAC Development

Investing in Grocery-Anchored Retail: A Sound Long-Term Investment Strategy

Grocery-anchored retail centers have consistently demonstrated superior stability and resilience. Here is the case for them as a long-term investment strategy.

Comprehensive Report on Construction Contracts
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Dec 11, 2024VAC Development

Comprehensive Report on Construction Contracts

An analysis of construction contract types (lump sum, cost-plus, time and materials, and unit pricing) covering structures, use cases, and strategic selection for developers.

Loans, DSCR, and Debt Yield

Design a loan and see the three numbers every lender checks first.

Open the tool →
Returns

IRR vs. Equity Multiple

Two deals can both double your money and still be very different investments.

Open the tool →
Returns

Leverage: Both Directions

Slide the LTV and watch what borrowed money does to the same deal, up and down.

Open the tool →
Returns

The Sensitivity Grid

What 'we sensitized the deal' actually means: one IRR becomes a field of them.

Open the tool →
Dec 14, 20229:46

Understanding the Different Types of Commercial Real Estate

A plain-English primer on the major commercial real estate asset classes and how their tenants, leases, and risk profiles differ.

How Investing in Commercial Real Estate Can Change Your Life
Video
Dec 7, 202212:17

How Investing in Commercial Real Estate Can Change Your Life

The case for commercial real estate as a wealth-building vehicle: cash flow, appreciation, leverage, and tax treatment.

FTX, Rising Rates, and iBuyers in Trouble: Are We Headed for a Crash?
Video
Nov 18, 20222:48

FTX, Rising Rates, and iBuyers in Trouble: Are We Headed for a Crash?

A quick November 2022 market read as FTX imploded, rates kept rising, and iBuyers pulled back, and what it signaled for real estate.

Shorts

Podcasts

PodcastMasters In Real Estate

Andrew Dunn on Masters In Real Estate: Full-Cycle Deal Stories

Andrew Dunn joins the Masters In Real Estate podcast to discuss full-cycle deals and creative strategies.

Jan 29, 202547 min
Listen →
PodcastThe Value Add Podcast

Bri Brenkus on The Value Add Podcast

Top Las Vegas agent Bri Brenkus, a listing specialist with Brenkus Realty and Keller Williams Marketplace, on competing for listings month after month.

Oct 2, 202144 min
Listen →
PodcastThe Value Add Podcast

David Teskey on The Value Add Podcast

David Teskey on investment sales at a top-tier Pacific Northwest financial services firm: closing deals, the daily grind, and where the growth is.

Sep 2, 20211h 1m
Listen →
PodcastThe Value Add Podcast

Arda Bulak on The Value Add Podcast

Furniture-company VP Arda Bulak on keeping a traditional retail business relevant in an online-first world.

Aug 31, 202147 min
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PodcastThe Value Add Podcast

Nicci Julian on The Value Add Podcast

Nicci Julian on turning a passion for baking into a Southern California dessert business built around big events.

Sep 17, 202050 min
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PodcastThe Value Add Podcast

Donnie Aldridge on The Value Add Podcast

Donnie Aldridge, founder of The Copper Can, on the high-school venture that sparked his entrepreneurial streak and led to a canned Moscow Mule.

Sep 13, 20201h 4m
Listen →
PodcastREI Marketing Nerds

Andrew Dunn on REI Marketing Nerds: Mastering Networking for Real Estate

Andrew Dunn joins Dan Barrett's REI Marketing Nerds to talk networking for real estate: building real relationships with sellers, investors, and lenders, and why it beats cold marketing.

Sep 9, 202033 min
Listen →
PodcastThe Value Add Podcast

Brian Walker on The Value Add Podcast

Recruiter Brian Walker on the path from high-stakes agency recruiting to corporate roles spanning technical sourcing and full-cycle generalist work.

Sep 6, 20201h 10m
Listen →
PodcastThe Value Add Podcast

Mike Zuniga on The Value Add Podcast

Videographer Mike Zuniga, founder of Mike Zuniga Films, on going from a college film hobbyist to running his own production company.

Aug 31, 20201h 32m
Listen →
PodcastThe Value Add Podcast

Tre Carpenter on The Value Add Podcast

Las Vegas Realtor Tre Carpenter on building a business the old-school way: farming one neighborhood and running open houses six days a week until it stuck.

Aug 24, 202038 min
Listen →
PodcastThe Value Add Podcast

Brian Scott on The Value Add Podcast

A conversation with Brian Scott, a mergers-and-acquisitions professional building a personal brand, Adulting, to help the younger generation find their footing.

Aug 17, 202059 min
Listen →