Harvard Investments proposes 1,940-acre development near Estrella Mountain
A master-planned community with thousands of new homes and apartments, retail, dining and a potential resort is being planned in Goodyear. The city’s planning and zoning commission on Dec. 3 will discuss a request to rezone about 1,940 acres for Rio 1900 – a planned development near Estrella Mountain Regional Park, along the southern bank of the Gila River. The long-vacant site has also been known as King Ranch. The community would include up to 5,762 residential units, which would be a mix of large-lot estate residential, single family…»
US commercial real estate prices rise, extending recovery trend
U.S. commercial real estate prices climbed in October, extending multiple gains over the past five months in a sign of stabilization after years of decline. That’s according to the latest monthly CoStar Commercial Repeat-Sale Indices report that tracks when previously sold properties trade hands again in a process called a repeat sale. CCRSI’s value-weighted index, reflecting expensive deals in large cities, rose 0.5% in October from September. Its equal-weighted index, indicative of the more numerous but lower-priced property sales…»
Apartment rents drop further, with vacancies at record high
The national median rent for apartments fell 1% in November from October, and now stands at $1,367, according to Apartment List. It was the fourth consecutive month-over-month decline. Apartment rents are down 1.1% from November 2024 and have fallen 5.2% from their 2022 peak. “Earlier this year, it appeared that annual growth was on track to flip positive for the first time since mid-2023; however, that rebound stalled out and reversed course during a particularly slow summer,” according to Apartment List researchers…»
How TSMC Arizona changes the state’s economic landscape
Semiconductors — also known as microchips — are the brains behind everything essential to modern life — smartphones, computers, cars, the internet, GPS and artificial intelligence. And one of the brains behind Taiwan Semiconductor Manufacturing Company’s Arizona operations is Rose Castanares, president of TSMC Arizona. “Our customers design and sell the chips; we manufacture them,” Castanares says. “That means they trust us with their crown jewels — their intellectual property. There is a great deal of trust and…»
Walmart scoops up Glendale mega warehouse in record-setting deal
Walmart acquired a nearly 1.28 million square-foot building next to Luke Air Force Base for $152,161,730 in a record-setting deal that closed the day before Thanksgiving. It’s the second-largest industrial building sold in Phoenix on record, according to data from CoStar Group/Homes.com. Walmart will be the first tenant at the recently completed Luke Field complex, which is a 140-acre, 2.4 million square foot logistics park delivered in the West Valley by Lincoln Property Company. The retailer will occupy Building C at the project…»