In July, Congress and President Trump stopped a massive tax hike scheduled to hit more than 33 million small business owners across the country at the end of 2025. Making the 20% Small Business Tax Deduction permanent was the crown jewel for Main Street in this year’s new tax law, promoting greater economic prosperity for hardworking Arizonans. Since 2017, the Small Business Tax Deduction, also known as the Section 199A qualified business deduction, has allowed mom-and-pop
PHILADELPHIA, Oct 14 (Reuters) – The U.S. labor market remained mired in its low-hiring, low-firing doldrums through September, though the economy “may be on a somewhat firmer trajectory than expected,” Federal Reserve Chair Jerome Powell said on Tuesday, noting that policymakers will take a “meeting-by-meeting” approach to interest rate cuts as they balance job market weakness with above-target inflation Powell, in remarks to a National Association for Business
The nation’s two largest bank lenders for commercial real estate are seeing the quality of their loans improve as office valuations stabilize. JPMorgan Chase posted modest loan growth in the third quarter, while Wells Fargo keeps shrinking its property portfolio. The divergence between the two banks that emerged in the second quarter became more pronounced in the third quarter, according to the banks’ earnings released Tuesday. Wells Fargo sees
Phoenix office market is beginning to show a positive shift in total net absorption, according to an analysis from Kidder Mathews. Market Highlights: YTD total Net absorption totals 867.2K square feet. 3Q25 sales volume reached 991K square feet. Total vacancy rates decreased 140 bps QOQ to 23.6%. Market Drivers: The Phoenix office market recorded a positive direct net absorption of 226.1K square feet in 3Q25, led by Chandler, which recorded
A 32-acre site near Mesa Gateway Airport is set to undergo industrial and commercial development to construct two buildings that will each exceed 100,000 square feet. The site, called Gateway Park, is at the northwest and southwest corners of Ray Road and Hawes Road in Mesa. It will include a pair of buildings totaling 235,600-square-feet, according to proposal documents submitted to the city of Mesa. The owner of the property is Mesa Airport
PHOENIX — A partnership between Mack Real Estate Group and McCourt Partners has announced updates for the first phase of Halo Vista, the co-developers’ $7 billion, 2,300-acre mixed-use campus in northwest Phoenix. Halo Vista is set to surround TSMC Arizona, the $165 billion semiconductor fabrication campus. The co-developers, which are operating as an entity doing business as Mack Halo Vista LLC, announced that the project
A popular Tempe neighborhood near ASU and freeways was the top area in metro Phoenix for home price increases during the past year. South Tempe’s median home price jumped 23% to $554,000 during the 12 months ending in August, according to Homes.com. Chandler’s Ocotillo neighborhood, named after a big development in the area, posted the biggest home price drop. Its median plummeted 28% to $559,000. Metro Phoenix
About 158 acres of state trust land in north Phoenix is going up for auction in November, with the city of Phoenix’s parks and recreation department eyeing it for a new mountain preserve and hiking trail. But that doesn’t mean a residential builder can’t swoop in and outbid them, with a starting bid at $11.9 million. Several documents, including an appraisal report submitted to the Arizona State Land Department, suggest “it is likely that future potential development would entail
Metro Phoenix ranked second in construction job growth in the last five years, eclipsed only by Minneapolis. That quickly outpaced job growth overall. By that measure, the region ranked seventh nationally from February 2020 to August 2025, Anirban Basu, chief economist for Associated Builders and Contractors said in an economic outlook presentation. According to data from the Arizona Office of Economic Opportunity, there are about 229,000 construction workers
Despite Phoenix industrial construction activity continuing to slow down in 2025, 11.9 million square feet remain in the pipeline, helping Phoenix remain a well-positioned market for industrial tenants, according to an analysis from Kidder Mathews. Market Highlights: CONSTRUCTION activity totaled 11.9 million square feet; DIRECT NET ABSORPTION reached 2.4 million square feet; TOTAL LEASING
A division of Dallas-based Provident, Provident Industrial, recently announced the completion of its first development in the Phoenix industrial real estate market. Located at 6550 W. Orangewood Ave. in Glendale, Ariz., the Orangewood Commerce Center is a premier facility incorporating more than 292,000 square feet of class A Phoenix industrial and warehouse space. Specifically designed to meet the demands of today’s industrial real estate users, the property features 36-foot clear
The third week of the federal government shutdown is approaching, bringing the economic ripple effects closer to the commercial real estate sector with each passing day. Federal workers are set to miss their first paycheck this week, resulting in billions of dollars being sapped from the economy. Those who operate and develop affordable housing already depend on federal aid to stay afloat, but with less spending amid declining consumer
When the government shuts down, real estate watchers tend to focus first on the impact to the residential market. Potentially thousands of home sales will be held up because the federal flood insurance program is no longer able to issue new policies; the Federal Housing Administration, Department of Veteran Affairs and Department of Agriculture might slow or suspend their mortgage processing; and the IRS might not process tax transcripts or income verification documents as quickly. But the impact to commercial real estate, while not
The first residents are moving into the $1 billion Optima McDowell Mountain luxury community being developed in an area surrounded by intense growth. The 22-acre Optima community, at the southeast corner of Loop 101 and Scottsdale Road, will include a mixture of 1,330 luxury rental apartments and for-sale condominiums, as well as 36,000 square feet of retail and restaurant space. The first eight-story apartment tower will complete construction early next year, with monthly rates starting at $2,900 and soaring to more than
The net lease sector is maintaining its steady foundational performance, according to new research by The Boulder Group. The latest data, reflecting the third quarter, reveals that most core metrics held their ground despite economic changes, with buyers and sellers finding greater alignment as capital markets stabilized throughout the period. Cap rates were virtually unchanged across most property types. The overall national cap rate in the single-tenant net lease segment increased by a single basis point to 6.80 percent, reflecting little movement
Applied Materials Inc. and Arizona State University on Thursday opened a $270 million research, development and prototyping facility to support the Valley’s growing semiconductor ecosystem. The Materials-to-Fab Center consists of 50,000 square feet of cleanroom space and 20,000 square feet of wet and dry labs in the university’s MacroTechnology Works building at ASU Research Park. The facility is designed to foster innovations from ideation to fab prototype by leveraging Applied Materials’ semiconductor manufacturing
Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI) dedicated to serving the company’s institutional clients, announced today the sale and financing of Scottsdale on Main, a 119-unit, luxury midrise multifamily asset in Scottsdale, Arizona. The $66.1 million sales price represents $555,462 per unit. “Scottsdale on Main was constructed as a monument to Downtown Scottsdale’s luxury reputation, emblematic of its exclusivity, affluence, and unmatched lifestyle,” said Steve Gebing, IPA executive managing
A new semiconductor manufacturing plant broke ground in Peoria this week. Amkor’s $7 billion facility will reportedly be one of the largest chip packaging plants in the country and is expected to provide up to 3,000 jobs. The first phase of construction is expected to be finished in about two years, with the first chips being made in 2028. When all is said and done, the 750,00-square-foot semiconductor factory will provide chips to NVIDIA and Apple, which will be used for artificial intelligence. “Our goal is we want more. Peoria is open
A development team has landed the first commercial tenants to join a mixed-use complex developed next to Taiwanese Semiconductor Manfacturing Co.’s microchip plant in north Phoenix. New York-based Mack Real Estate and McCourt Partners, the team behind the $7 billion Halo Vista project, signed deals with Costco Wholesale Corp. and Marriott International as future tenants for the 2,300-acre development that surrounds the 1,100-acre TSMC plant, located near Interstate 17 and the Loop 303 freeway. Common Bond Development
Intel Corp. unveiled details Thursday about its sophisticated Panther Lake processors and Arizona’s critical role in manufacturing the company’s next-generation personal computer chip technology. Intel plans to enter high-volume production for its Panther Lake chips – the brains that run computers or other electronic devices – at its Ocotillo plant in Chandler later this year. Panther Lake is the company’s first product built on Intel 18A, which the company claims is the most advanced semiconductor process ever developed and
After years of staying below a longstanding ceiling for new apartment supply, the U.S. multifamily market surged past it — and then, just as quickly, began losing momentum. Since 2020, quarterly completions had been capped at around 100,000 units, a threshold that was never reached through early 2023. Then, in the second quarter of 2023, deliveries broke through for the first time since RealPage Market Analytics began tracking the sector in the 1990s. That milestone set off a run of growth that lasted 10 straight months, with every
Developer Concord Wilshire Capital announced that it has completed demolition of the former Metrocenter Mall and Oakwood Homes has been named the exclusive residential builder for The Metropolitan, an $850-million, vibrant, mixed-use destination project. The 64-acre development is set to transform the former site of the Metrocenter Mall into a walkable urban village seamlessly integrating Light Rail with housing, entertainment, dining, and retail. “We are pleased to announce that we have selected Oakwood Homes, a
Electric vehicle maker Rivian wants to open a new repair shop in Scottsdale. Land use attorneys for Mack Innovation Park will submit a rezoning application to the city within two to three weeks to allow for a service and delivery facility in the complex, said George A. Pasquel III, planning consultant with Withey Morris Baugh PLC. Pasquell said Rivian customers would be able tune up their vehicles, check out new offerings and, after ordering online or at a showroom, pick up their new vehicles at the location. It wouldn’t be like traditional auto
U.S. banks are modifying commercial real estate loans at a surging pace, a trend that highlights the financial strain affecting the sector. By the end of June 2025, the total value of CRE loan modifications had climbed 66% over the past four quarters, according to an analysis by the Federal Reserve Bank of St. Louis. Banks are required under accounting standards to disclose loans that have been altered due to financial difficulty—whether through principal forgiveness, interest rate reductions, delayed payments, extended terms or
The federal government shutdown has delayed the release of key data reports on the labor market. That has left analysts, economists and, perhaps most important, the Federal Reserve more reliant on private-sector releases to gauge the health of hiring and its relative balance with inflation. Though private-sector sources vary, they converge on a picture of a slowing labor market and a tight hiring environment for new workers, confirming the last official government releases. For example, the Bureau of Labor Statistics