April 19, 2024

A privately owned real estate firm in California has purchased a Phoenix-area luxury multifamily project at a 25% discount from recent market highs as the area struggles with the fallout from overbuilding, including falling rents and rising vacancy rates. Decron Properties acquired

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A proposal to build a tower at the Biltmore Fashion Park in Phoenix is moving forward after the Phoenix Planning Hearing Officer agreed it met city plans for the area. Macerich, the owner of the shopping center, and Phoenix-based developer RED Development submitted an

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Taiwan Semiconductor Manufacturing Co. is making “significant progress” on its north Phoenix site with engineering wafer production already underway in its first factory still under construction, the company said on an earnings call Thursday. C.C. Wei, TSMC’s chief executive

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April 18, 2024

Successful real estate investors have long followed the adage: When there is blood in the street, buy property. Historically, this approach has yielded dividends, and it explains the mindset behind a new venture from Hines, a real estate giant with over $93 billion in assets under

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In this podcast, Motley Fool analyst Jason Moser and host Deidre Woollard discuss: The ambitious plans for U.S. semiconductor growth. The challenges of building factories in Arizona. If Jamie Dimon is the new Warren Buffett. Deidre also chats with Motley Fool analyst

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A report by Colliers discusses a sector impacted by hyperscale players and more capital Data centers have been a focal point of commercial real estate commentary and investment in recent years. However, this is a continually evolving sector, with Colliers’ report, “2024

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The number of Americans filing new claims for unemployment benefits was unchanged at a low level last week, pointing to continued labor market strength that is driving the economy. Labor market resilience, together with elevated inflation have led financial markets and some

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April 17, 2024

A 26-story apartment tower is beginning construction in downtown Phoenix, the latest project for a New York-based development firm with a focus on art and architecture. The project, called Ray Phoenix, is a joint venture between development firm Ray and VeLa Development

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Phoenix surpassed Dallas-Fort Worth early this year as the nation’s leader in industrial construction, and this lead is holding firm going into the second quarter, even after several months of slow construction starts and high levels of completions in both markets. With some of the

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Cushman & Wakefield’s analysis of the U.S. Census Bureau’s latest data highlights key trends affecting commercial real estate with some notable surprises and new patterns emerging. Of note, the Phoenix-Mesa-Chandler Metro ranked No. 14 of every major market (population

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When a carton of a dozen eggs, which is a staple in most Arizonan’s refrigerators, can cost up to six dollars at the grocery store, many people are eager to make the switch to a more affordable option. For more and more Arizona residents, Aldi is that option. The grocery store chain

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US Fed chair Jerome Powell has signaled a delay in expected interest rate cuts. He said the Fed needs more time to be confident that its fight against inflation is working. An analyst suggests excess money, a result of pandemic-era policies, may be drained from the economy this year

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April 16, 2024

Total retail sales increased in March, with experts noting increased spending amid easing inflation. According to the CNBC/National Retail Federation (NRF) Retail Monitor, total retail sales, excluding automobiles and gasoline, were up 0.36% seasonally adjusted month-over-month

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Multifamily metrics including going-in cap rates, exit cap rates and unlevered IRR targets for prime assets showed slight improvement in the first quarter, the first such uptick since the Federal Reserve began raising interest rates in early 2022, CBRE reported. The positive spread

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New York City-based Blackstone Inc. (NYSE: BX) has scooped up several large industrial buildings in Phoenix. Blackstone paid $87 million in all cash for a 536,740-square-foot portfolio of warehouses across four individual sales and five buildings, according to Maricopa County

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In the early months of 2024, apartment demand more than doubled, putting it well above the decade average, according to a new report from RealPage. “We might be in for a banner year for absorption,” the firm’s analyst Kim O’Brien said in the report. But truly, RealPage said

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Home prices are reaching for the stars across the country. And Arizona isn’t simply riding this wave — it’s at the helm. Seven Metro Phoenix cities are among the Top 25 cities that have seen home prices double the fastest. We looked at the largest U.S. cities to see where home

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April 15, 2024

While the rest of the nation’s industrial market takes a breather, Phoenix has nearly 41.6 million square feet of active industrial construction projects, accounting for 10.9% of the national total, as revealed by LGE Design Build’s newly released Q2 Construction Delivery Outlook report

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About 240 acres is being set up for a sprawling industrial and manufacturing campus in Queen Creek. Located east of Phoenix, the large property is currently operating as a plant nursery at the southeast corner of Crismon and Germann roads. The longtime property owner and

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Cranes scattered across a city’s skyline can be eyesores that distract from a city’s beauty and can even pose as threats to construction workers and pedestrians. However, cranes can also be seen as a visible symbol of a city’s growing economy and thriving infrastructural

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Two affordable housing projects, including one aimed at older adults, are going up in Glendale. Why it matters: The Phoenix area faces a massive housing shortage, which is driving up prices for both single-family homes and apartments. State of play: A massive construction site

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Buc-ee’s, the Texas-based chain of convenience stores and gas stations, has purchased 22 acres in Goodyear, Arizona, with plans to build a new store, slated to be its first to open in the state. Buc-ee’s is planning to build a 75,400-square-foot convenience store at the

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April 12, 2024

Since South Korea-based LG Energy Solution reaffirmed its investment in Arizona last year, local leaders have seen an uptick in activity nearby. Interest from companies has intensified since LGES started placing beams for its $5.5 billion battery manufacturing complex in Queen

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A group of investors who own approximately 30,000 acres of land in the Harquahala Valley have inked a deal to build a $1.2 billion solar project on the site and are negotiating separate deals to sell the water underneath the project, which lies about 60 miles west of Phoenix. Salt

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Peoria is eyeing more than 8,300 acres of state-owned land for future growth as it charts a path toward becoming a hub in the semiconductor and defense industries. With that goal in mind, city officials are working with the Arizona State Land Department to make two desert

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