Commercial Real Estate & Business News – December 7, 2023

Arizona’s Silicon Desert boom is encouraging semiconductor equipment maker ASM and other technology companies to take a close look at building, relocating or expanding in metro Phoenix. The Dutch company, which has been operating in Phoenix for 47 years, plans to build…»

The Global Ambassador, a luxury hotel from famed Arizona restaurateur Sam Fox, and four of its five restaurants open today on the northwest corner of 44th Street and Camelback in Phoenix. Fox, a 12-time James Beard Award nominee, sold Fox Restaurants Concepts to The Cheesecake…»

Consumers continued to dine out in 2023 despite the uncertain economy. New restaurant openings and diner spend both increased up year-over-year in 2023, according to a new report from restaurant technology partner BentoBox. The study revealed that 10,608 restaurants opened across the…»

PHOENIX – The first federal funds have been allocated for reestablishing passenger rail service between Phoenix and Tucson, U.S. Rep. Greg Stanton of Arizona announced Tuesday. The Arizona Department of Transportation was awarded $500,000 to help cover the costs of planning an…»

The housing market’s headline news this year has been the affordability challenge brought on by mortgage rates reaching 20-year highs. Looking ahead to 2024, Zillow® predicts home buyers will have a bit more breathing room when it comes to housing affordability in 2024 — but only…»