Buckeye is getting hundreds of thousands of square feet of new industrial space, even as construction for such space in the West Valley has petered out following rapid development in recent years. Buckeye City Council last week approved a request to subdivide about 102 acres just south of the southeast corner
In a significant step toward addressing Phoenix’s housing shortage, real estate investment firm Caliber (NASDAQ: CWD) has secured unanimous approval from the Phoenix City Council to convert a distressed office complex into a 376-unit multifamily residential project. The redevelopment, known as Canyon Village
Big-name commercial retailers are landing across the East Valley, with some set to start construction in 2025. Developers are eyeing far east Mesa as the next place for major development, including one of its largest commercial projects set to open in 2026. Tempe Marketplace will soon have a new anchor store open at
The U.S. multifamily market in early 2025 is defined by a return to stability and cautious optimism, as the sector transitions from the turbulence of pandemic-era supply surges toward a more balanced and sustainable footing, according to a new report by CBRE. This search for equilibrium is evident across key market
Blackstone’s recent earnings call raises questions about how tariff implementations have affected commercial real estate investment. In short, the giant asset manager says the waterfall of causes and effects is slowing down what was starting to build into a recovery. Blackstone had been looking more positively
Taiwan Semiconductor Manufacturing Co. plans to break ground this year on a third semiconductor fabrication facility in Phoenix as the firm rushes to meet chip demand tied to artificial intelligence. The company recently finished construction of its second factory, or “fab,” as it ramps up production to support
Denver-based Canopy Real Estate Partners has made its Phoenix debut with the purchase of a distressed multifamily property in Surprise. More purchases could be on the horizon. The private equity firm paid $8.8 million in cash to an entity tracing to Next Generation Capital LLC for the newly built ParkView Townhomes
In Phoenix’s ultracompetitive supermarket industry, two grocery chains – Trader Joe’s and Sprouts Farmers Market – saw their share of the market grow more than other brands this past year. California-based Trader Joe’s, which added three new stores in the Valley in the past 12 months, saw the biggest year-over-year
As an indicator of burgeoning improvements in the office sector, loan originations on office properties are on pace to surpass last year’s tally, Avison Young said Thursday. Roughly $15.7 billion in office loans were originated in the first quarter of 2025, following $41 billion in all of 2024 and $44 billion in all of 2023. In addition
A Texas-based technology infrastructure company broke ground on a 100-acre new Glendale data center officially began on Tuesday. Aligned Data Centers plans to build four facilities on the 100-acre site. At the heart of this development is PHX-13, a 72-megawatt data center that is now under construction. “This project
Creation, a leading real estate development and alternative investment firm, in partnership with PGIM Real Estate, the real estate investment and financing arm of Prudential Financial Inc, has closed on a 16.45-acre site in North Scottsdale to develop The Loop, a premier Class-A industrial development breaking ground this
A Texas-based developer has begun two projects in Desert Ridge that will bring nearly 600 apartment units to that part of north Phoenix and is seeking to build something taller in the future. ZOM Living began construction on two apartment developments in late March, the first projects for the company to break
The multifamily industry’s record supply wave continued in the first quarter, with 116,092 market-rate units delivered over the last three months. According to RealPage’s first quarter analysis, this is on par with the prior quarter’s record high. Demand also continued to surge as 138,302 units
Multifamily owners are slogging through a historic glut of new supply. The biggest wave of apartment construction in 40 years has pressured rent prices, forcing landlords to offer months of free rent and other incentives to fill their units. Now, with the cost of imported materials poised to soar and construction
Scottsdale-based Taylor Morrison Home Corp just closed on a vacant East Valley land parcel in Queen Creek with plans to build 218 homes, which comes on the heels of the purchase of 156 acres in north Phoenix. Development is underway with sales projected to begin in the third quarter of 2026, said Steve Hahn, senior
In Arizona, referendum laws are designed to empower citizens by allowing them to challenge legislative decisions through a public vote. However, in recent years, these laws have been increasingly misused as a tool to block zoning changes and halt new developments. This trend has raised concerns among
The Taiwan Semiconductor Manufacturing Co. will produce 30% of its most advanced chips in Arizona when its six Phoenix plants are operational, the company announced on an earnings call Thursday. Why it matters: Chairman and CEO CC Wei told investors the scope of the company’s Phoenix investment will create
Data centers consume an inordinate amount of electricity, and the Corporation Commission is trying to figure out how to cope with the demand. The big picture: With low energy costs and few natural disasters, the Phoenix metro area has become one of the top data center markets in the U.S. Those buildings house computer
A site once coveted by Phoenix’s defunct NHL team for an arena complex is expected to be sold at auction in the coming months. Approximately 217 acres is scheduled to be auctioned on June 20 by the Arizona State Land Department, according to a notice filed
PHOENIX — XNRGY announced the grand opening of a heating and air conditioning system manufacturing facility in Mesa, the Canadian company’s first in the U.S. The 275,000-square-foot facility is part of a $300 million investment at Gateway East, a business park near Phoenix-Mesa Gateway Airport. Once completed, the
An Indiana company plans to build a 27-story residential tower across the street from Arizona State University in downtown Tempe. Trinitas Ventures paid $6 million to buy a 0.61-acre vacant parcel at 211 E. 7th St. from College Enterprises Inc., which traces to Therese Stohlgren, according to Tempe-based real estate database
The Senate approved a bill on April 15 that would allow Axon to build its global headquarters in Scottsdale without needing zoning approval from the voters. Senate Bill 1543 would require cities with populations between 200,000 and 500,000 to allow hotels and multifamily residential housing to be built in areas zoned
Retail sales inched up in March after two straight months of declines, but gains remained moderate amid consumer concerns about rising tariffs. Core retail sales (excluding restaurants, automobile dealers and gasoline stations) edged up 0.4% month over month in March and up
A historic Tempe church could be preserved and a historic home relocated as part of a plan to develop a 29-story skyscraper east of Mill Avenue. Wexford Developments and Core Spaces, the co-developers of the project, are planning a mixed-use tower at 109 E. Sixth St., a site that holds the
Land in northeast Phoenix that was once eyed by the Arizona Coyotes for a new arena is headed back to the auction block to potentially be sold and developed. About 217 acres of land located west of Scottsdale Road and north of Loop 101 is scheduled to be sold at an Arizona State Land Department auction June 20. The