Commercial Real Estate & Business News – July 11, 2024

Semiconductor manufacturing is on a roll, and Arizona is grabbing a significant piece of that vital industry along with national recognition of its role. The latest indication: A major industry trade show will be held in Phoenix on a rotating basis starting in 2025, after 50 consecutive years in San Francisco…»

After years of delays, the Ritz-Carlton Paradise Valley is expected to be completed by the end of 2024, with an official opening date coming soon. The project features 80 villas, 32 estate homes and a resort with 215 rooms. The sold-out villas, which range from 1,700 to 4,800 square feet, are beginning to be…»

Federal Reserve Chair Jerome Powell offered hints to Congress that the central bank is getting closer to lowering its key borrowing rates as it looks beyond taming inflation, though it still wants to see more progress on the pricing front before committing to rate cuts. “Elevated inflation is not the only…»

In testimony before the U.S. Senate Banking Committee Tuesday, Federal Reserve Chair Jerome Powell suggested that the nation’s central bank may soon determine the time has come to begin lowering the federal funds rate. The Fed has maintained the key interest rate in a range of 5.25% to 5.5% since the July meeting …»

Kroger and Albertson’s released the list of stores the companies plan to sell Tuesday, should a merger between the grocery giants be approved by regulators.The list outlines the 579 stores that will be transferred from the merging companies to C&S Wholesale Grocers along with six distribution centers and one dairy plant…»