Commercial Real Estate & Business News – April 9, 2025

At the rate things are going, Old Town may need a new name. Anyone for New Town? Granted, that might not land well in “The West’s Most Western Town.” Even so, while Mayor Lisa Borowsky continues a thus-far losing battle over an Old Town parking garage she calls “a monstrosity,” multiple projects that could collectively transform the area loom large. The projects range…»

A new home community that will sprout 1,435 houses in San Tan Valley is underway. Tri Pointe Homes is building the community, called Soleo, on 252 acres at Combs and Kenworthy roads. Prices for the first phase of houses will start in the mid-$400,000s. Tri Pointe Homes Arizona Division President James Attwood said Soleo will support Pinal County’s “impressive growth”…»

Taylor Morrison Home Corp. (NYSE: TMHC) just plopped down $32.2 million in cash for a 156-acre parcel near Taiwan Semiconductor Manufacturing Co.’s $165 plant being developed in north Phoenix. The Scottsdale-based homebuilder bought the property from MacEwen Ranch LLC in care of Sunbelt Holdings, paying $205,869.19 per acre, according to…»

Relations between the United States and Canada, historically marked by close economic ties and mutual cooperation, are showing signs of strain, raising concerns about their impact on one of the most lucrative pipelines of foreign investment into U.S. commercial real estate. According to a report by Business Insider, Canadian investors, who have been the largest foreign buyers…»

Nonfarm payrolls for March beat estimates with 228,000 jobs added, according to data published by the Bureau of Labor Statistics, versus the estimate of 140,000. The unemployment rate ticked up to 4.2%, a three-year high, from 4.1%. Employers added 117,000 in February, which was revised from 151,000. Average hourly earnings increased by 0.3% in March, aligning with both the…»