The U.S. government has struck a deal with Intel Corp. to take a nearly 10% equity stake in the company, the White House and the California-based chipmaker announced Friday. Under terms of the deal, the U.S. government is agreeing to invest $8.9 billion for 433.3 million shares of Intel’s stock at $20.47 per share, equating to a 9.9% stake in the chipmaker, according to a company release. “As the only semiconductor company that does leading
Phoenix has seen labor growth expand so far in 2025, while job growth and housing permits face headwinds, according to an analysis from the Eller Business Research Center. Exhibit 1 presents current Phoenix-Mesa-Chandler MSA economic indicators. In June, the non-seasonally adjusted civilian labor force within the Phoenix-Mesa-Chandler MSA (Phoenix MSA) grew by a notable 1.8% compared to the previous year, reaching a total of 2.8 million individuals
Eight cities in metro Phoenix are among the top 10 municipalities nationwide with the strongest economic growth. An Aug. 20 study released by Coworking Cafe shows the Valley saw an incomparable surge in economic growth between 2019 and 2023, with eight locations in the top 10 across three population sizes. During that time, the metro had a 25.8% increase in roadway miles, GDP grew
Federal Reserve Chairman Jerome Powell hinted Friday that the central bank may cut interest rates in September — a shift that could give the housing market a much-needed boost. At a symposium in Jackson Hole, Wyoming, Powell warned of persistent inflation and said the labor market could weaken further. “The balance of risks appears to be shifting,” Powell said. “While the labor market appears
Commercial property sales in the $5 million to $25 million range are showing resilience in 2025, and one sector in particular is defying expectations. According to Green Street’s latest analysis, overall deal volume in this price bracket rose 3.5% in the first half of the year, climbing from $43.7 billion in 2024 to $45.24 billion. But it was office
What looked like an alarming trend of rising Arizona layoff announcements has eased considerably over the past month. Two statewide employers reported layoffs totaling more than 100 people over the 31 days through Aug. 17, down from seven large-scale layoff announcements over the previous 30 days. But the larger of the two announcements, a cut of 1,467 positions by Southwest
Another prominent Valley office building has traded hands. Arizona real estate investor David McHenry has closed on the purchase of a two-story property at 8700 S. Price Road for $7.26 million, according to an Aug. 20 announcement. The 132,000-square-foot building, which was once home to Arizona tech giant Avnet Inc., is located within the tech-focused,
Once a niche segment of the housing market, build-to-rent developments of townhouses and single-family houses have rapidly gained traction across the United States, with the Sun Belt emerging as a clear epicenter of growth. Fueled by population growth and the availability of land in these areas, as well as the escalating cost of homeownership, demand for build-to-rent
Commercial real estate investors are facing a complex environment as persistent uncertainty around Treasury yields clouds key decisions about deals, valuations and capital strategies. Ivy Zelman, founder of Zelman & Walker, addressed this uncertainty in a wide-ranging discussion with Willy Walker, CEO of Walker & Dunlop, about housing sector fundamentals and their broader implications
America’s housing shortage grew to an all-time high of 4.7 million units, according to a new Zillow® analysis of recently released Census data. This deepening housing deficit remains the prime driver of the nation’s housing affordability crisis. In Metro Phoenix, the housing shortage hit 98,703 in 2023, an analysis shows. Construction boomed in response to high demand and price growth during
The developer of a $650 million project to build Arizona’s tallest tower won’t break ground in 2025, after all. Originally projected to break ground during the second quarter, the project is getting pushed back to potentially break ground in downtown Phoenix by the back half of 2026. Aspirant Development, developer of the Astra, is still working on finalizing
Smaller commercial real estate transactions are showing signs of renewed strength, even as overall activity remained below the market’s peak three years ago. According to data from Green Street, sales of properties priced between $5 million and $25 million totaled $45.24 billion in the first half, a 3.5% increase from $43.7 billion during the same period in 2024. While deal
As data from July continues to roll out, the economic picture remains muddled. A softer-than-expected jobs report and large downward revisions for prior months signaled a slower hiring environment than was previously thought. While that raised hopes for a September interest rate cut from the Federal Reserve, a trio of monthly inflation reports released last week revealed re-accelerating
As the calendar turns to the second half of 2025, optimism is growing in the U.S. commercial real estate market, which has moved past the uncertainty and is showing tangible signs of recovery. According to CBRE global head of research Henry Chin, the resilience evident in leasing and capital markets—especially offices and industrial properties—signals a turning point. Institutional investors
Phoenix ranks fifth nationally among the markets with the largest share of the top 100 industrial leases in the first half of 2025, according to a new report from CBRE. Phoenix had four of the top 100 leases, totaling 2.2 million square feet, with 24.4 percent of its transactions being renewals in the first half of 2025. “Given Arizona’s business-friendly environment, deep and diverse labor
The U.S. rental market is navigating an uneven recovery as developers, investors and operators weigh the impacts of past oversupply against the forces of labor, affordability and demographics. A factor increasingly shaping that balance—though often indirectly—is immigration. Recent arrivals are affecting the construction pipeline and rental demand differently across market-rate
Padeland, a new concept coming to downtown Chandler, will feature indoor courts for popular racket sports pickleball and padel. But it will also have much more. The venue is currently under construction in the former LOOK Dine-In Cinemas’ 35,000-square-foot facility in downtown Chandler at 1 W. Chandler Blvd. Padeland, expected to be completed by the end of 2025
A key chunk of land right next to a rapidly growing shopping corridor at the intersection of Interstate 10 and Verrado Way in Buckeye is going up for auction. Sunbelt Investment Holdings plans to bid in an upcoming auction for about 272 acres of vacant land — located just east of the key intersection — for a mixed-use commercial project, according to documents submitted to the Arizona
Just after Fairfield Residential broke the record for the biggest multifamily portfolio acquisition in Arizona, the San Diego-based investor bought another property for $115.8 million. In July, Fairfield paid $462.38 million to Sunroad Enterprises, making it the largest Arizona multifamily portfolio deal in the state’s history. Less than a month later, Fairfield turned around and plopped down
Senior living has long been a somewhat under-the-radar real estate play, with a somewhat unappealing reputation. But it’s on the edge of a boom — a baby boom, to be exact. More than 4 million boomers will hit 80 in the next five years, and occupancy at both active adult and assisted living communities is already rising fast. This comes as annual inventory growth in senior housing
The world’s largest golf management company is expanding into a recently revamped headquarters after signing one of the Phoenix area’s largest deals so far this year. Troon, which manages more than 900 golf properties worldwide, finalized a deal to nearly double its Scottsdale, Arizona, headquarters as tenants across the United States commit to larger blocks of space. The
RED Development announced that First Solar — the leading solar technology and manufacturing company in the U.S. — is relocating its offices from Tempe to The Grove, the landmark mixed-use destination at 44th Street and Camelback Road in Phoenix, with plans to open this fall. First Solar will occupy 18,725 square feet on the second floor of the Class-AA office building, joining
America’s housing shortage grew to an all-time high of 4.7 million units, according to a new Zillow® analysis of recently released Census data. This deepening housing deficit remains the prime driver of the nation’s housing affordability crisis. In Metro Phoenix, the housing shortage hit 98,703 in 2023, an analysis shows. Construction boomed in response to high demand and price growth during the early years of the pandemic. But that hasn’t been enough to keep up
Seven office buildings across the Phoenix metro area amounting to 1.53 million square feet are trading hands in a $296 million deal. Southwest Value Partners acquired key Class A properties in downtown Phoenix, Scottsdale, the Camelback Corridor, Tempe and Chandler from Canadian firm City Office REIT Inc., in a deal that closed this week. City Office REIT took steps to sell off the portfolio as a condition of a pending merger deal with a U.S. hedge fund. Southwest Value
To lean into the future, Pinal County decision-makers are also wary of the past. The county, which sits in the southern half of the state between Maricopa and Pima counties, is one of the fastest-growing jurisdictions in Arizona and nationally. Its population is quickly approaching half a million people and is projected to grow to over 640,000 by 2032, according to the county’s 2024 labor market analysis. In a trend aligned with Pinal County’s goal to sustainably build a “diversified