City officials in Phoenix, Arizona approved a slate of financial incentives and government support for Taiwan Semiconductor Manufacturing Co.’s planned $12 billion chip plant, a step toward bringing high-tech manufacturing to the U.S. and addressing national
Westcore, a leading industrial real estate acquisition, development and asset management firm, broke ground this month on a 720,000-square-foot, three-building industrial campus. Named Fairway 10, the campus is located on 51 acres of land at 199th Ave
A new challenge is coming for American workers and businesses. The CARES Act included a expiration date of December 26 for federal funding of pandemic unemployment assistance and pandemic emergency unemployment compensation
Even before the novel coronavirus pandemic, people moving to Arizona from California represented 23% of all inbound residents over more than a decade. And more are on the way. Migration patterns from 2006 to 2018, studied by CBRE Group Inc. show, on average
From open spaces to open minds, Arizona has the “highest potential” of any state in the nation to successfully move into the new economy, said Arizona State University (ASU) president and innovation trailblazer Michael Crow. The university’s
Through the pandemic, pharmacies have been an e-commerce resistant segment of the real estate market. But that could be changing with a new announcement from Amazon. The e-commerce giant announced the launch of a new store, called Amazon Pharmacy, which will allow customers to complete
Leading multifamily developer Optima is capitalizing on the resilient Phoenix condo market as the newest tower within its $500 million Optima Kierland development, 7180 Optima Kierland, is now 85 percent sold as it averages 4.5 sales per month, making it among the top two fastest-selling luxury
Thayer Manca Residential has expanded its apartment portfolio in Tuscon, Arizona, with its purchase of the 424-unit Entrada. The Seattle-based firm paid $65.5 million for the garden-style multifamily complex, making this its largest acquisition to date, the firm said in a statement announcing the deal
Scottsdale City Council approved Axon’s futuristic new headquarters in northern Scottsdale despite requests from nearby residents for more time to address concerns. The City Council voted 5-2 on Nov. 10 to rezone the property for industrial use and make way for Axon’s new headquarters on 73 acres
Christopher Todd Communities, one of the nation’s leading innovators in the Build To Rent housing segment, continues to evolve to feed the apparent insatiable appetite for single-family rentals after selling the largest Build To Rent property (by unit count) in the nation. The purchase of Christopher
Family offices have long viewed commercial real estate as an attractive asset class. Some invest in real estate as part of a diversification strategy. Others focus on it as a core discipline. Regardless, of where it fits in their portfolios, these investors are actively assessing how COVID-19 is transforming the real estate
The lending market may be starting to thaw. The number of loan applications has risen over recent weeks, which is a hopeful sign closings could increase toward the end of the year, according to the latest research from CBRE. Another sign that the market may be starting to move: alternative lenders, which
The coronavirus could be the crisis that finally propels the tech-averse real estate industry into the 21st century. Location matters less now that the office is the kitchen. Size matters more now that everyone is at home. And the best way to justify exorbitant prices is no longer the building’s
Seven years ago, Scottsdale Mayor Jim Lane joined leaders from HonorHealth (formerly Scottsdale Healthcare), Mayo of Arizona (then Mayo Clinic of Scottsdale), the Translational Genomics Research Institute (TGen) and TD2 (Translational Drug Development) for an in-depth conversation focused on the
Office sublease availabilities are rising across the country, and Phoenix is no exception. Since the end of 2019, available sublease space in the market has climbed from 1.7 million square feet to a market high of nearly 3.3 million square feet. The rise in sublease availabilities has been
Apartment dealmakers may find an opportunity to build new apartments around the shells of under-performing or empty regional malls. Hundreds of troubled shopping malls may be seized by lenders over the next year, experts say. “In the current market with the pandemic, the number of properties
Momentum in both Tempe and downtown Phoenix is driving Arizona State University’s future real estate expansion, as officials plan even more development to accommodate students, athletics and cultural growth. In downtown, the university campus could grow to 20,000 students, ASU President Michael
After months of suffering because of the Coronavirus pandemic, the multifamily sector is finally getting not just one good report but, instead, a healthy batch of good news. Several indicators are pointing to a change in landlords’ near-term fortunes while, for both the medium and long-term, the beginnings
Despite seeing economic headwinds in the short-term, and fall-out from the Presidential election, CBRE Global chief economist and head of Americas research Richard Barkham anticipates a recovery starting to take place in 2021. The executive has authored a new paper on the firm’s outlook for next
Luxury mall owner Taubman Centers has agreed to a lower price to merge with the biggest mall owner in America, Simon Property Group, the companies announced Sunday, evading what could have been a heated legal battle during the holidays. Under the new deal, Simon will now pay $43 per share
The Greater Phoenix Chamber recently released the Arizona Business Index™ (ABI™), powered by OH Predictive Insights (OHPI). The study measures and interprets the health of the Arizona economy from the perspective of the Arizona consumer
When the Great Recession sent scores of Americans out of their homes and Millennials began to move out on their own, renting took off in the early 2010s. By the mid-2010s, 111 million people were renting in the US, according to RENTCafe.com. Then, for the first
An entity affiliated with San Francisco-based TPG Real Estate acquired Regents on University in Tempe from Atlanta-based Preferred Apartment Communities for nearly $57.5 million. The 225-unit apartment/student housing asset is located at 1949 E. University Dr
The industrial logistics space in the Loop 303 corridor in Glendale and Goodyear is expected to grow by more than 200%, from 15 million square feet to 50 million square feet in the next five to six years. “The Loop 303 corridor is the place that offers
Apartment investment firm S2 Capital paid $55 million, well below the average price in Phoenix’s torrid apartment market, for a 408-unit apartment complex in the suburb of Glendale, Arizona.S2 Capital, based in Addison, Texas, bought the Eagle Crest