Scottsdale-based ATLAS Capital Partners (ATLAS) has sold a prime infill parcel to the City of Phoenix for $29.58 million. The city has earmarked the land for revitalization as part of its regional Rio Reimagined initiative and the RIO PHX plan, which will promote 20 miles along the Rio Salado/Salt River corridor as a local and regional destination. Located at 3030 S. 7th St. in Phoenix, the 29.4-acre
Amkor Technology Inc. is evaluating options that could accelerate construction of its advanced semiconductor packaging facility in Peoria, the company’s top executive said on an earnings call Monday. Tempe-based Amkor (Nasdaq: AMKR) is on track to break ground on the Peoria manufacturing facility in September, but the company is looking to scale up faster than initially anticipated
Thompson Thrift put the first shovels into the ground Monday at The Gilmore — Gilbert’s latest mixed-use development. The Indianapolis-based firm will build the 35-acre development’s 213,656 square feet of commercial space at the same time it constructs 300 luxury apartments, with one facet of The Gilmore’s two luxury apartment buildings coming online first, Thompson Thrift Managing
The uncertainty surrounding tariffs has started to ripple through the commercial real estate sector, reaching even one of the largest players in the industry, CBRE. In its most recent earnings release, CBRE acknowledged that tariffs were casting a shadow over its outlook, making the future “less clear” and causing its project pipelines to shrink compared to previous
One-bedroom apartments are taking over Phoenix: Developers built a whopping 13% more of this unit type in the last decade. Now, they make up half of the new apartments in your city. While these smaller living spaces offer convenience, renters won’t be pleased to know they got even more compact. Additionally, this shrinking Phoenix apartment size trend is evident all over the metro area
The first quarter’s top three markets for job gains — New York, Dallas, and Houston — also lead the nation in apartment demand. However, beyond these leading cities, the connection between job growth and apartment demand becomes less pronounced, according to RealPage senior real estate economist Chuck Ehmann’s Bureau of Labor Statistics data
Thompson Thrift, a full-service nationally recognized real estate company, announced today the commencement of construction for The Gilmore, a $225 million, 35-acre mixed-use development in the Phoenix suburb of Gilbert. The Gilmore will provide 300 luxury apartment homes, a hotel, and approximately 200,000 square feet of grocery, boutique
In the days after Nikola Corp. filed for Chapter 11 bankruptcy protection, Scottsdale-based Land Advisors Organization got to work. With an ace in the hole, the real estate advisory group reached out to Houlihan Lokey, the multinational financial services firm tasked by Nikola with “marketing and soliciting potential purchasers for a post-petition sale of their business
Western office markets faced mounting challenges in December 2024, with San Francisco standing out. The city saw record-high vacancy rates of 28.8% driven by a wave of lease expirations and declining demand. These pressures have also weighed heavily on office asking rents and construction
A huge new corporate campus is sprouting up in north Phoenix. Sprouts Farmers Market, the Phoenix-based specialty grocer, closed Thursday on a deal to build a brand-new corporate headquarters campus. Sprouts will be developing a 180,000-square-foot mixed-use project on seven
Like CRE’s Rodney Dangerfield, office gets no respect, none at all. A CRED iQ report in March said that loan distress fell across most property types — except office. In April, the asset class was still the most distressed type of loan. And then tariffs and trade wars became the latest problem for office
A prominent developer has plans to turn a large, old vacant office park into apartments in Phoenix. Scottsdale-based CaliberCos Inc. (Nasdaq: CWD) is planning to redevelop two office buildings in north Phoenix into a 376-unit multifamily residential complex. The buildings total
For the Q4 2024 industrial markets ranking report, CommercialCafe looked at key performance indicators across 30 major industrial markets in the U.S., tracking them each quarter. Markets are ranked based on several metric categories: vacancy, pipeline, average rent, upcoming loan
As goes TSMC, so goes Phoenix’s industrial real estate market. Suppliers continue to gravitate to the Valley, angling to position themselves in the orbit of TSMC’s ever-growing, $165 billion campus in North Phoenix. And while more industrial supply is set to come online in north Phoenix in the years to come — the $7 billion
On April 23, RED Development unveiled the latest lineup of tenants joining PV, the $2 billion transformation of the former Paradise Valley Mall, with six new additions, including a celebrity chef restaurant, first-to-market concepts and standout regional favorites. PV will mark the first expansion for Cala, a concept created by
Arizona outpaced the nation in bioscience industry job gains and research funding, but challenges remain for medical device commercialization and venture capital deal activity, according to a new Flinn Foundation report. Arizona recorded an 8.1% increase in bioscience industry job growth from 2020 to 2023, outpacing
A new mixed-use project in Glendale passed its first hurdle with City Council Tuesday. Council approved the rezoning of a 39-acre site just across the I-10 from State Farm Stadium for a project dubbed “Envision Encore,” which is set to include high-density multifamily housing, commercial uses and potentially hotels. The
With complex geopolitical and economic currents reshaping world trade, the North American industrial real estate market stands at a critical juncture this year. A gradual shift away from goods manufactured in China since 2020 has diversified the continent’s industrial base through expanded domestic manufacturing and
Developers are eyeing to build a 40-acre commercial development at the former Legacy Park in southeast Mesa, which they are dubbing the Legacy Towne Center. Plans submitted to the city in March showed a plan to build out the land east of the Arizona Athletic Grounds, along the southwest corner of Williams Field Road
Financial uncertainty has been spilling across commercial real estate. Economists’ estimates that a recession is on its way have been adjusting upward to as high as a 65% chance, as of last week. CRE loan spreads have been widening as tariffs have driven lenders to tighten credit. Even Blackstone said tariffs are affecting CRE
As uncertainty about tariffs and trade policy continues to percolate, many are watching the current health and prospects of America’s manufacturing industry. While recent data releases for March paint a mixed picture of the sector, more recent regional surveys of manufacturers noted trepidation that price increases could
San Diego-based Tower 16 Capital Partners in partnership with Raith Capital Partners has successfully acquired Sanctuary at South Mountain, a 166-unit horizontal Build-to-Rent (BTR) property located near South Mountain in Phoenix. The property was built in 2023 and was acquired for $48 million, which we believe is below
One of the biggest construction projects in Phoenix has a new leader, as Chris Janson takes over as president of Mack Halo Vista LLC, the developer behind the mega master-planned community surrounding Taiwan Semiconductor Manufacturing Company’s plant in north Phoenix. Halo Vista, poised to become a city within a
A planned $117-million development in the southern part of downtown Phoenix will include restoring a historic building and reusing it as commercial space. Colorado-based developer Aardex received approval from the Phoenix City Council in early April to develop a 14-story, 262-unit apartment complex on about two acres
Less is definitely more when it comes to apartment supply in the U.S. That’s at least according to a new report that found the number of deliveries of new apartments in 1Q 2025 is finally heading downward, representing welcome news for multifamily landlords. Even though supply in the first quarter of this year marked the eighth