Commercial Real Estate & Business News – April 2, 2025

The macroeconomic environment has been marked by unusual trends, with short- and long-term interest rates diverging in behavior, as CBRE recently observed. Despite these complexities, there are reasons for optimism in the commercial real estate market, particularly regarding cap rate compression. CBRE anticipates some degree of cap rate compression…»

A joint venture plans to create a mixed-use development surrounding a semiconductor fabrication campus in Phoenix. Halo Vista has been selected by a panel of local industry professionals as the winner of the 2025 CoStar Impact Awards for sale/acquisition of the year for Phoenix. New York-based Mack Real Estate Group secured the development…»

The vision for The Ranch — a billion dollar mixed-use development in Gilbert — is coming into focus nearly two years after its zoning was approved. Las Vegas-based IndiCap and Salt Lake City-based Colmena Group, along with project investor Langley Properties, have long been seeking to transform a 311-acre parcel on the corner of Elliot and Power Roads…»

PhoenixNAP Global IT Services is doubling down on its presence in the Valley in response to the region’s strong demand for data centers. PhoenixNAP’s “phase two” project will begin construction in four months on a 530,000-square-foot data center and will bear the name PHX02, JLL Executive Managing Director Mark Bauer told the Business…»

A development dubbed The Gilmore is set to bring retail and housing on a 35-acre lot of land along the northwest corner of Val Vista Drive and Germann Road near Mercy Gilbert Medical Center, and is poised to break ground in late April 2025. The $200 million development will include 197,000 square feet of new commercial development, along with about…»