Commercial Real Estate & Business News 5-7-2025

According to Colliers in Arizona, the Greater Phoenix industrial market posted 4.1 million square feet of net absorption during the first three months of 2025, continuing a record of strong leasing in the booming city and placing the metropolitan area as the third top market nationally in first quarter. Despite impressive net absorption, the city posted an increase of vacancy…»

A 29.5-acre industrial property located near the Rio Salado River has a new owner — the city of Phoenix. The city acquired the industrial site in south Phoenix for $29.58 million from Scottsdale-based Atlas Capital Partners LLC, which confirmed the transaction to the Business Journal. OakPoint Real Estate partnered with Atlas on the transaction. A city spokesperson also…»

A Trader Joe’s in Gilbert has been named one of the best grocery stores in the country. Solitaired, a gaming website, analyzed over 7 million Google reviews of grocery stores in the 100 most populous cities across the United States. Trader Joe’s swept the rankings: Across all grocery store chains, the brand took the top spot nationally. Of the best 50 individual grocery…»

Phoenix has adopted an agreement for a new development at Central Avenue and Madison Street. The project involves preserving a historic building that dates back to the early 20th century. Denver developer Aardex is planning the construction of a $117 million multifamily apartment-commercial space. The area includes the Pratt-Gilbert Building, which was previously…»

TSMC will build six fabrication plants in north Phoenix in the coming decades. Photo: Courtesy of Taiwan Semiconductor Manufacturing Company. Taiwan Semiconductor Manufacturing Co. announced earlier this year that it will triple its Phoenix campus over the next decade-plus, positioning itself to become one of Arizona’s largest employers. Why it matters: The Valley rallied to…»