Commercial Real Estate & Business News – June 6, 2023

The White House has designated Phoenix as a workforce hub to help meet the demand for qualified and diverse talent in semiconductors, renewable energy and electric vehicles. Phoenix was picked as one of five hubs dedicated to building up a workforce, specifically because…»

A group of business leaders representing electric and autonomous vehicle sector giants Lucid, Waymo, Nikola, and Cruise gathered in Phoenix last week for a panel discussion about the future of their industries in Arizona and nationally. Moderated by Arizona Commerce Authority…»

Global investment firm KKR has acquired $250 million of industrial properties through its KKR Real Estate Partners Americas III fund. The acquisition signals that KKR is weighing more of its opportunistic real estate investments to stronger performing property sectors. KKR Real Estate…»

Arizona will tap the brakes on new development in some parts of Greater Phoenix, Gov. Katie Hobbs announced on Thursday. The move won’t halt new construction in the state’s largest metro area, but it will certainly slow some forms of growth and could push…»

Metro Phoenix home sales are down, but prices are up. A short supply of Valley houses for sale is boosting home values. The median home price ticked up $5,000 in April and is expected to be up another $9,000 in May. Higher interest rates aren’t deterring all…»