Commercial Real Estate & Business News 6-24-2025

The founder of Japanese investment holding company SoftBank Group Corp. wants to team up with Taiwan Semiconductor Manufacturing Co. (TSMC) to develop a trillion-dollar industrial robotics and AI industrial complex in Arizona, Bloomberg reported Thursday. The big picture: SoftBank’s billionaire founder, Masayoshi Son, is eyeing a plan, dubbed “Project Crystal Land,” that could house…»

A Minnesota-based commercial developer spent $136 million to end a bidding war on a large chunk of vacant land in northeast Phoenix that the Arizona Coyotes once desired. The 217-acre property located west of Scottsdale Road and north of Loop 101 was sold to Mortenson Co. at a public auction that the Arizona State Land Department held on June 20. Mortenson, which owns…»

Nearby development – for one, the towering Remi Hotel, opening soon – is an almost-forgotten footnote to a debate raging in Scottsdale: Where to put a new Old Town parking garage. Those pushing for Scottsdale City Council to continue a plan to expand “The Corral” parking lot at First Street and Brown Avenue point to the fall, winter and spring – when befuddled tourists…»

The Valley developer behind the redevelopment of the CrackerJax amusement park is planning a five-acre infill project in Old Town Scottsdale. The Scottsdale mixed-use project is called 5th & Goldwater and will feature a five-story multifamily residential building with 232 units and approximately 32,000 square feet of ground level retail, according to Scottsdale city documents…»

Arizona’s population has skyrocketed over the past decade — but some of the highest rates of growth have occurred outside the state’s major cities, including Metro Phoenix’s closest neighbor, Pinal County, which grew 7% between 2018 and 2023. This scale of development in Pinal County is reshaping the Phoenix–Tucson corridor into a high-value industrial and innovation…»