Commercial Real Estate & Business News – April 17, 2025

Data centers consume an inordinate amount of electricity, and the Corporation Commission is trying to figure out how to cope with the demand. The big picture: With low energy costs and few natural disasters, the Phoenix metro area has become one of the top data center markets in the U.S. Those buildings house computer…»

A site once coveted by Phoenix’s defunct NHL team for an arena complex is expected to be sold at auction in the coming months. Approximately 217 acres is scheduled to be auctioned on June 20 by the Arizona State Land Department, according to a notice filed…»

PHOENIX — XNRGY announced the grand opening of a heating and air conditioning system manufacturing facility in Mesa, the Canadian company’s first in the U.S. The 275,000-square-foot facility is part of a $300 million investment at Gateway East, a business park near Phoenix-Mesa Gateway Airport. Once completed, the…»

An Indiana company plans to build a 27-story residential tower across the street from Arizona State University in downtown Tempe. Trinitas Ventures paid $6 million to buy a 0.61-acre vacant parcel at 211 E. 7th St. from College Enterprises Inc., which traces to Therese Stohlgren, according to Tempe-based real estate database…»

The Senate approved a bill on April 15 that would allow Axon to build its global headquarters in Scottsdale without needing zoning approval from the voters. Senate Bill 1543 would require cities with populations between 200,000 and 500,000 to allow hotels and multifamily residential housing to be built in areas zoned...»