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Commercial Real Estate & Business News – January 30, 2024

2,500 Acres Near Phoenix TSMC to be Sold by State Land Department for ‘Science Park’

Nearly 2,500 acres of land adjacent to the Taiwan Semiconductor Manufacturing Co. campus in far north Phoenix are planned to be sold at auction in late May, which city economic development officials said will contribute to creating one of the largest employment corridors…»

Fewer Mega Industrial Leases Getting Signed

There were fewer mega industrial leases of 1 million square feet or more signed in 2023 than in 2022. Economic uncertainty and less need for additional product inventory are to blame, based on a report from CBRE. Among the top 100 industrial leases signed in 2023, only 43 were…»

Scottsdale Now the Nation’s Best City for Jobs, New Report Finds

The results of a recent survey of cities across the U.S. show Scottsdale is the best place for job seekers. Scottsdale came out on top in WalletHub’s 182-city list of the Best Cities for Jobs for 2024 published earlier this month. Tempe also made the top 20 on the list, ranking No. 13, and…»

JV Plans $250M BTR Project in Phoenix Area

GTIS Partners and Clyde Capital have formed a joint venture to develop a $250 million mixed-use, master-planned community in Surprise, Ariz. The Phoenix-area development will feature a build-to-rent residential community, retail space and a medical facility. The property will be…»

Metro Phoenix Housing Crisis: Impact & Solutions

Metro Phoenix is in a crisis of affordable housing, and a variety of options will be required to not only provide safe and affordable places to live but also to persuade communities to welcome those developments. That’s according to Alison Cook-Davis, the associate director of research…»