Commercial Real Estate & Business News – March 1, 2024

After seeing the highest inflation rate in the country, Phoenix inflation has slowed compared with rest of U.S. and Phoenix inflation is also below comparison metropolitan areas. The Consumer Price Index for All Urban Consumers (CPI-U), often referred to as CPI, serves as an…»

Coming off an exorbitant year of multifamily development, National Association of Home Builders (NAHB) said this week that starts will drop by 20% this year, which should help to reduce inflation. Multifamily starts totaled 472,000 units in 2023, down 14% compared to the previous…»

Already struggling with a record swath of vacant office space, downtown Phoenix is set to be dealt another blow with one of Arizona’s largest employers preparing to sublease out an entire tower that has served as its global headquarters. Freeport-McMoRan, a publicly traded mining…»

Axon CEO Rick Smith took aim at Scottsdale during the company’s fourth quarter earnings call on Feb. 27, calling out an “antidevelopment” sentiment in the city and mentioning a possibility to move the company to another market. Axon, the maker of Taser stun guns, and…»

Pentagon Technologies Group Inc. is investing $50 million in a new semiconductor equipment cleaning facility in Mesa that is expected to create 300 new jobs. Hayward, California-based Pentagon Technologies announced Thursday that construction is underway on the 65,500-square…»