Today’s News 8-29-2025

Cap rates may have reached their peak, according to a CBRE survey of 200-plus brokers released Monday. The survey also reported a slight compression in the first half of 2025, with the all-property average cap rate narrowing nine basis points to 6.84% at midyear amid volatility in Treasury yields and the announcement of a broader regime of tariffs than was expected. “While macroeconomic uncertainty persists, we’re seeing clear indications that cap rates have passed…»

The developer of the long-belabored Ritz-Carlton Paradise Valley resort is “bound and determined” to finish the project, an attorney representing him said. Five Star Development, led by Jerry Ayoub, sued Madison Realty Capital, the lender of a $585 million loan on the project, alleging that Madison’s actions have derailed the project, preventing further progress on the resort. Madison has started foreclosure proceedings on the property. The lawsuit was filed before…»

The world’s largest golf management company is expanding into a recently revamped headquarters after signing one of the Phoenix area’s largest deals so far this year. Troon, which manages more than 900 golf properties worldwide, finalized a deal to nearly double its Scottsdale, Arizona, headquarters as tenants across the United States commit to larger blocks of space. The company will be relocating to one of two buildings at the Inisio at Kierland campus, where…»

Taiwan Semiconductor Manufacturing Co. broke ground on a 15-acre industrial reclamation water plant that will increase the chipmaker’s wastewater recycling rate up to 90% at its north Phoenix fab site. TSMC’s industrial reclamation water plant is designed to achieve “near zero liquid discharge,” meaning the company will have the ability to reuse nearly every drop of water. The IRWP will support TSMC’s two fabs at its north Phoenix site with capacity to expand to…»

Although apartment construction in 2025 is shifting heavily to the South — now accounting for more than 50% of all expected completions — the Phoenix metro area pierced the top 10 dominated by Southern locations and secured the title of the 4th busiest apartment builder in 2025. Here are the details: The Phoenix metro area is set to complete 21,188 new apartments in 2025. That’s 5,500 units behind the podium, but it’s still among the only four metros…»