Commercial Real Estate & Business News – December 1, 2023

Amkor Technology Inc., a leading provider of semiconductor packaging and testing services, said it plans to build an advanced facility in Peoria that could cost $2 billion, bring roughly 2,000 jobs and partner with another major chipmaking complex in the northwest Valley. Tempe-based Amkor…»

Pennrose Properties has broken ground on Garfield Housing Phase II, a 60-unit affordable housing project for seniors in Phoenix. The development team includes the City of Phoenix, Butler Housing Co., CBC Financial Corp. and the Arizona Department of Housing. The architect…»

Phoenix tops the nation in the number of apartment units expected to be delivered in 2023, according to a report from Yardi Matrix. By the end of 2023, Yardi expects to see 20,541 new units built in metro Phoenix, out of the total 487,512 new unit deliveries expected nationwide. Austin, Texas…»

It is no secret that many aspects of 2023 have been challenging for the rental housing industry. Amid ongoing economic uncertainty – triggered by lingering inflation – the affordability crisis persists, operational costs have skyrocketed, and growing regulations continue to add an extra layer of strain…»

Once again, online shoppers spent more money on Cyber Monday than on any single day — ever. Consumers spent a total of $12.4 billion on Cyber Monday (Nov. 27), according to final Adobe Analytics data, up nearly 10% from $11.3 billion on Cyber Monday 2022, which was the previous…»