Transwestern released its analysis of a decade of warehouse demand and then trying to understand its future. A story of a decade comes out immediately in a succinct summation: “Since the end of the Global Financial Crisis in 2009, industrial real estate has been t
Three new industrial buildings are in the works just to the west of Phoenix Sky Harbor International Airport. San Francisco-based Prologis Inc. (NYSE: PLD) broke ground Wednesday on phase two of its namesake park: the Prologis I-17 Logistics Center on the
The downbeat attitude on the outlook for commercial real estate finance worsened in the third quarter, professionals said in a new survey. Concerns are coming from several now-familiar fronts, according to the CRE Finance Council, the association that
A celebratory groundbreaking ceremony is scheduled to take place on Tuesday, November 15, 2022 at 1 p.m. to mark the commencement of construction on Avondale Commons, an Overland Group, Inc. project. This exciting new
Bank of America Institute released a new publication today which shows that discretionary consumer spending per household continued to increase in October, up 2.9% year over year (YoY) but down from 3.2% in September, according to
Taiwan Semiconductor Manufacturing Co., the world’s largest contract chip maker, is preparing another multibillion-dollar factory investment in Arizona, people familiar with the plans said. TSMC TSM -0.03%decrease; red down pointing triangle plans in the coming months to
Maricopa County, the state’s largest by population and home to the capital, has long been a destination for those looking to escape frigid winters in search of sunnier climes. An increase in the number of residents drives higher demand for healthcare services, and one of the
In the Deer Valley area of North Phoenix, Mack Real Estate Group (MREG) is building a new industrial park approximately 10 minutes away from what will be Taiwan Semiconductor Manufacturing Company’s (TSMC) manufacturing facility.
Don’t be fooled by the strong jobs report that arrived last Friday. While nonfarm payrolls grew by 261,000 positions in October, and revisions to the prior two months added another 29,000 positions, 40% of the net new jobs were in the
The homebuilding industry is taking a hit as rising mortgage interest rates are causing buyers to hit the pause button. As a result, Phoenix-area homebuilders have been issuing fewer single-family permits. So far this year, single-family permits are down
Tempe voters might have the final say on whether the owner of the Arizona Coyotes will develop a landfill into a multibillion-dollar entertainment district with an arena, hotels, restaurants, retail, offices and more than 2,000 apartments. Tempe City Council announced
A new developer is planning to build one of its first industrial projects in Arizona with a massive park proposed for a new industrial corridor in the Valley. The new industrial and technology facility will total 1.7 million square feet across
CoreLogic says that housing recessions do not always lead to overall recessions. In fact, in recent years, housing downturns are batting just .500 with that correlation. “Recently, housing has been losing its status as a reliable predictor of recessions,”
Food giant Nestle USA revealed its plans earlier this year to build a 630,000-square-foot food and beverage manufacturing plant in the Phoenix metro. The famous brand said it will invest $675 million and bring 350 new jobs to the Glendale area with its
U.S. apartment rents declined for the third straight month in October as the rapid rise in Sun Belt markets ebbs. Palm Beach, Florida, was the only market in the nation where rents rose in October from the previous month, according to the latest report
The ongoing recovery in hotel performance metrics continues to attract buyers and spur deals, albeit at a slower pace than last year. More than 1,700 properties changed hands for a total deal volume of under $11 billion in the third quarter, well below the
One of the country’s top developers of auto malls is trying to find out where in the Valley the next big master-planned car dealership development will go. Jim Mullin, the president Mullin 360, has been developing auto malls across the state and the country for more than
The latest 42Floors report takes a closer look at the backbone of our rapidly growing digital economy: data centers. The Phoenix data center market ranks as the No. 5 market by sales volume. Our team analyzed data center sales activity and construction data from
Arizona has grown into a premier semiconductor destination. Today’s consequential funding capitalizes on that momentum, aiming to establish a world-class public-private partnership focused on the development and manufacturing of next-generation
Mesa has rolled back some of its proposed restrictions on new drive-thrus, but commercial developers at a Nov. 1 public meeting still found much to criticize in the package of zoning changes. Mesa Planning Director Nana Appiah asked attendees to engage in
Apparently while interest rates have managed to move faster than cap rates. Trepp did a recent series of multifamily sales. The implied cap rates “continued to hover at just under 4% of 2021” in September. “Since the run-up in interest rates over the last six months, Trepp analysts have been
Downtown Phoenix is filled with sparkling luxury apartments that are either just finished or under construction. But despite the influx of apartment complexes, Phoenix is in the midst of
Two new banks have entered the Phoenix metro by hiring Valley-based executives to run commercial or Small Business Administration lending in the state. Tacoma, Washington-based Columbia Bank has expanded its commercial lending division into
Mall owner Macerich said it’s on track to achieve its highest leasing in seven years, despite rising interest rates and relatively high inflation, as vacated spaces get filled by national retailers, fitness chains and even the occasional DMV office or veterinary clinic.
Scottsdale-based developer, Empire Group recently closed on a 27-acre parcel in San Tan for approximately $13.8 million. Plans for the land are now underway for a build-for-rent community called Village at Borgata. Village at Borgata will be situated at the