Amid swirling geopolitical tensions with China, Taiwan Semiconductor Manufacturing Co. on Thursday said it reported record profits in the fourth quarter of 2024 and is already forecasting strong results for Q1 due to a surge in demand for chips used for artificial intelligence applications
One of the biggest real estate transactions of the year in Gilbert occurred just before Christmas when a Canadian land trust sold a complex of three industrial buildings for just under $100 million. Artis Real Estate Investment Trust sold Park Lucero East at 410-450 Germann Road, near Gilbert
Metro Phoenix home sales climbed as prices held steady in December, despite higher interest rates and the typical holiday slowdown for the housing market. January is usually a slow month too, but a surge in Valley million-dollar sales after the election could push up prices and
Housing — specifically, how to make it more affordable — is shaping up to be a key issue in the Legislature again this session. Why it matters: Home and rent prices have surged over the past decade, putting ownership out of reach for many families in once-affordable Arizona. Friction point
Federal Reserve chair Jerome Powell no doubt had started to relax about the economy — but now everything has changed. That’s because the Consumer Price Index for December increased over the last 12 months to 2.9%, making the third month in a row it has jumped. Core inflation
The holiday season was a bigger success than many expected as consumers “came out to spend” amid lessening inflation and discounting. Data released by the U.S. Census Bureau shows that core retail sales during the 2024 holiday season (November and December) grew an unexpectedly
Freddie Mac’s 2024 multifamily volume was up 34% over 2023, the government-sponsored enterprise (GSE) reported. Its production volume totaled $66 billion—$65 billion in multifamily financing and $1 billion in low-income housing tax credit (LIHTC) equity investments. Although it was still under
The company building a massive semiconductor complex in Arizona ended 2024 on a strong financial footing and confirmed it has already launched its much-anticipated commercial production at the north Phoenix site, ahead of schedule. “We were able to pull ahead the production
Even with significant headwinds from reduced housing affordability, elevated interest rates, and tight labor markets, Arizona continues to generate solid economic growth. Job gains are far outpacing national growth in the preliminary data and may be growing even faster than the data suggest
Consumer price index data for December showed that core price pressures eased more than expected. The S&P 500 powered higher as Wall Street weighed the CPI’s implications for Federal Reserve policy as well as positive earnings reports from Dow Jones giants JPMorgan Chase (JPM) and Goldman Sachs (GS)
On Aug. 28, Tract, a developer of master-planned data center parks, announced its acquisition of a 2,069-acre parcel in Buckeye for $136 million. The company plans to transform the site into a $20 billion data center park by building up to 20 million square feet of data center space across as
Not only is the weather hot in Dallas and Phoenix, but the two desert markets top the nation’s ranking for industrial construction hot spots. In 2024, Dallas-Fort Worth and Phoenix saw a combined 78.3 million square feet of net new industrial space, the most and second most in the United States
The Phoenix Business Journal, in partnership with BeachFleischman, hosted a panel of construction industry leaders on Nov. 1 to discuss the commercial construction outlook for 2025. Panelists included Bryan S. Eto, CPA and construction practice leader at BeachFleischman
Even as consumers emphasized price, 2024 saw the rise of a variety of retail and dining trends, some seemingly at odds with one another, Placer.ai says in a new white paper. For example, even as shoppers curbed discretionary spending, they made room in their budgets for “essential non
High Street Residential (HSR), the residential subsidiary of Trammell Crow Company(TCC), and JV partner Mitsui Fudosan America (MFA) have broken ground on a 215-unit, Class A, luxury residential community in Scottsdale, Arizona. The project, which will have a formal name announced as construction
Estrella is gearing up for a big 2025. The master-planned community in southern Goodyear recently announced the planned construction of more than 500 houses across five different neighborhoods. Although they will be in different neighborhoods, all of the parcels will be in the Montecito village
Not only is the weather hot in Dallas and Phoenix, but the two desert markets top the nation’s ranking for industrial construction hot spots. In 2024, Dallas-Fort Worth and Phoenix saw a combined 78.3 million square feet of net new industrial space, the most and second most in the United States, respectively
The site of former Tempe water park Big Surf will now serve as the site of a large industrial park. Big Surf, the park on McClintock Road just north of the Red Mountain Loop 202, first opened in 1969, but closed its doors when the pandemic began and never re-opened. Following the closure multiple items from
South Carolina-based Logisticus Group LLC is setting up its first Arizona facility along the Loop 303 corridor in a deal that came together in just two days. The third-party logistics firm signed a lease for 483,300 square feet, or the entirety of building B at the Park303 industrial project in Glendale developed
Starwood Capital and Pretium Partners are kicking off the new year with two single-family rental securitized loan offerings totaling a combined $1.17 billion. The offerings boost an ongoing rebound for mortgage-backed bond issuances in the industry even as rent growth slows. Last year
The median asking rent has fallen to its lowest level since March 2022 to end 2024 down 0.3% year-over-year to $1,594, according to a Redfin report. The decrease is likely due to an influx of supply that has pushed apartment vacancies higher. The report said asking rents were down
Construction recently completed on the $78 million, five-level University Gateway Building at Arizona State University (ASU), a 128,000-square-foot building that wraps around the Mill Avenue Parking Structure in Tempe, Ariz. The parking structure, which was completed in late
The U.S. multifamily market posted a weak performance at the end of 2024, with advertised asking rents down $4 to $1,742 in December, according to the latest Yardi® Matrix Multifamily Report. Year-over-year growth fell to 0.6 percent, marking the 16th consecutive month of increases below
Kohl’s announced Thursday that it would close 27 underperforming stores in 15 states by April 2025. The Menomonee Falls, Wisconsin-based retail giant saw sales drop during 2024, and Kohl’s stock price has fallen by over 50% in the last 12 months. The department store operates around