The Mack is back. A year after Mack Real Estate Group paid $125 million for 124 acres of state land put up for auction in north Scottsdale, more plans have been submitted for the Mack Innovation Park – the biggest commercial project to hit the city in years. The initial Mack Innovation Park proposal was for 11
Another international company working with semiconductors sees an opportunity in setting up shop in metro Phoenix. BHS Kinetic, a Singapore-based firm, has opened its first North American office at SkySong 1 in south Scottsdale. The company has been in business in Asia since 1975. “This new U.S. operation will allow
Google is moving dirt on its $1 billion data center campus in southeast Mesa. The project, which was often referred to by its codename “Redhawk,” is being built on more than 185 acres near the northwest corner of Sossaman and Elliot roads. Google said construction on the site started on
The Federal Reserve’s efforts to orchestrate a soft landing appear to be working. The economy seems to be bearing fairly well the burden of the most-aggressive monetary tightening program in history. Economic growth in the first quarter was reported to be 2% in its final estimate, exceeding
Apartment demand is rebounding in 2023 Q2 as rent growth cools “rapidly,” according to a report by RealPage. “Net absorption came in just shy of surging new supply levels in 2nd quarter 2023, stabilizing occupancy rates after a precipitous decline in 2022,” the firm said. Which makes
A developer is making big plans to set up a long-vacant property known as King Ranch in Goodyear for future development. The 1,861-acre site is located just south of the Gila River and just across from the Golf Club at Estrella and the Sierra Estrella Mountains. On July 10, Goodyear City Council considered
A goal to develop a piece of city-owned land near Park Central Mall is the latest step in Phoenix’s plan to grow and preserve affordable housing in the city. The city is preparing to seek proposals to build a mixed-income housing development on the 3.2-acre site near Central and Columbus avenues. The site is one of
Google is moving dirt on its $1 billion data center campus in southeast Mesa. The project, which was often referred to by its codename “Redhawk,” is being built on more than 185 acres near the northwest corner of Sossaman and Elliot roads. Google said construction on the site started on Monday. It did not
As a technique, adaptive reuse is practical. It prevents waste from demolishing an entire structure and can give new life to a perfectly good preexisting building that provides function and, oftentimes, historical significance, particularly when it comes to adaptive reuse in Phoenix. Some Phoenix adaptive reuse
Building stronger, safer and more sustainable homes has never been more important. That’s why Tempe-based HercuTech, the manufacturer of the environmentally-friendly wall building system HercuWall®, partnered with developer Harvard Investments to build the most
San Francisco-based Prologis Inc. has purchased several industrial facilities in the Phoenix area as part of a larger $3.1 billion acquisition from New York City-based Blackstone Inc. (NYSE: BX).Prologis paid at least $242 million in all cash for some 10 buildings in the Valley
San Francisco-based Prologis Inc. has purchased several industrial facilities in the Phoenix area as part of a larger $3.1 billion acquisition from New York City-based Blackstone Inc. (NYSE: BX). Prologis paid at least $242 million in all cash for some 10 buildings in the Valley in July to Blackstone, according
Denver-based Vantage Data Centers has made significant progress on the second phase of its planned campus with the recent topping out of its facility in Goodyear. For several years, Vantage has been working on developing a campus that’s expected to total about 1 million square feet across
When it comes to inflation, understanding it can be complex as there are multiple definitions. And under one newer measure from the Federal Reserve Bank of New York, it may be that things are getting better faster for consumers than it has seemed. Headline inflation is the overall number
New housing is needed just about everywhere, but it continues to take longer to build. Developers need a reported six weeks longer to build a single-family house than the average completion time in 2021, according to the 2022 Survey of Construction from the Census Bureau. The survey shows that
The U.S. labor market showed no signs of letting up in June, as companies created far more jobs than expected, payroll processing firm ADP reported Thursday.Private sector jobs surged by 497,000 for the month, well ahead of the downwardly revised 267,000 gain in May and much better than the 220,000 Dow
A year after the CrackerJax amusement park closed down in north Scottsdale, a conceptual site plan to redevelop the park has been submitted to the city. Billionaire George Kurtz, the co-founder and CEO of cybersecurity company CrowdStrike, and one of the wealthiest people in Arizona, acquired the nearly 28 acres
This month, 1851 is taking an in-depth look at ALEC-Laffer’s 16th annual “Rich States, Poor States” Economic Competitiveness Index and how it can be useful to franchisors as they expand their footprints. The report ranks all 50 states based on two criteria: 1) Economic Outlook, a state’s current
Ryan Cos. broke ground on One Scottsdale Medical, a 105,715-square-foot medical office building at Scottsdale Road and Thompson Peak Parkway in Scottsdale.The two-story structure, which is on the 120-acre One Scottsdale mixed-use development, is 80% pre-leased, with California-based City
Private sector employment increased by 497,000 jobs in June and annual pay was up 6.4 percent year-over-year, according to the June ADP® National Employment ReportTM produced by the ADP Research Institute® in collaboration with the Stanford Digital Economy Lab. The jobs report and pay insights
A new mixed-use project with housing, an inpatient rehabilitation hospital and commercial is planned for a 45-acre infill property along Interstate 10. The project, called The District at Crystal Springs, will be developed at the southwest corner of McDowell Road and Avondale Boulevard in Avondale, a growing
Blandford Homes won the bid on a 115-acre prime piece of state-owned land in Mesa, paying $37.85 million. The parcel near Hawes and Warner roads is part of the 1,200-acre Hawes Crossing community. Blandford plans to build 450 to 525 houses on the site, with model homes opening in