Commercial Real Estate & Business News – August 28, 2024

The Metro Phoenix data center supply grew by 150.8 megawatts (MW) in the first half of the year as developers delivered more capacity to meet growing demand, according to CBRE’s latest North American Data Center Trend Report. Phoenix’s total inventory increased to…»

A new player in Arizona’s booming data center industry has ambitious plans. Utah-based Novva Data Centers plans to develop a 300-megawatt, 1.3 million-square-foot data center campus on 160 acres in southeast Mesa. CEO Wes Swenson visited Phoenix last August to purchase the…»

After a sharp decline in 2023, data center M&A activity is surging, with nearly $40B in transaction value already surpassing last year’s total, according to a report from Synergy Research Group. The bounce back reflects a wave of dealmaking that could get stronger in the months ahead, with the potential…»

Libitzky Property Cos. has purchased Parc Germann, a 224,471-square-foot industrial campus in Chandler, Ariz. TA Realty sold the Class A for $43.3 million in an all-cash deal, according to public records. Cushman & Wakefield represented the seller. TA Realty paid $28.5 million for the asset in 2020 shortly…»

Revisions by the U.S. Department of Labor showed that recent job gains weren’t as impressive as they seemed nationwide, but Arizona defied the trend and actually gained more jobs than originally thought. Why it matters: The revision indicates Arizona is in a…»