Din Tai Fung to build second Phoenix-area location before first one opens
Din Tai Fung, the famed upscale Taiwanese restaurant chain, will start construction on its second location in the Phoenix area, even before the first one opens. Macerich, the real estate investment trust that owns and operates seven large malls and shopping centers in the Valley, announced Wednesday that it has leased a large restaurant space to Din Tai Fung at Chandler Fashion Center as part of the mall’s major renovation to the open-air district on its south side. Din Tai Fung…»
10 major Arizona real estate developments shaping state’s future
Over the last decade, Arizona residents have seen a growing number of eye-popping headlines announcing massive new real estate developments that add jobs, draw in residents and attract new businesses to our state. While the biggest is the transformational $165 billion investment Taiwan Semiconductor Manufacturing Company is making in North Phoenix, here are 10 major Arizona real estate developments shaping the state’s future…»
Lincoln Property acquires Phoenix-area data center for $130 million
Lincoln Property Company purchased a 191,000-square-foot data center in Chandler, Arizona, from CBRE Investment Management for $130 million. The property at 2500 W. Frye Rd. is located within the Price Road technology corridor at the intersection of Loop 101 and Loop 202 freeways. Built in 1988 and situated on 14.5 acres, the facility features 28 megawatts of confirmed utility power from an on-site Salt River Project substation. The industrial property includes four…»
Surveys show employment remains at risk as trade uncertainty and higher costs persist
Economic activity continued to diverge in November. While the services sector stabilized due to continued consumer spending, business conditions in the manufacturing sector deteriorated as new orders, employment and supplier deliveries declined. The Institute for Supply Management’s purchasing managers index, or PMI, for nonmanufacturing industries rose to 52.6, its highest reading since February and marking the 10th month of expansion…»
A Scottsdale tale of two mega-projects
Two landscape-changing, “transformational” projects that rolled through Scottsdale City Council in back-to-back years face each other in a distorted, funhouse mirror – the kind you may have looked into at the old CrakerJax. The Parque, billionaire tech guru George Kurtz’s “visionary” plan at the site of that former amusement park, must follow a rather restrictive development agreement with the city. When Axon’s similar apartments-hotel-retail-office plan was approved a…»