Commercial Real Estate & Business News – March 14, 2025

We’re just beginning to understand what it means that one of the world’s most powerful companies is planning the largest foreign direct investment in U.S. history here in metro Phoenix. TSMC (Taiwan Semiconductor Manufacturing Company) is making a $165 billion play in the Arizona…»

Months after its developer received final zoning approval from the city of Mesa, the former Fiesta Mall site is now formally in the hands of a single owner. Verde Investments, the real estate firm owned by billionaire Ernest Garcia II – the richest person in Arizona – in February completed the final…»

As renter demand continues to catch up to new multifamily supply, some markets are seeing a greater impact on vacancy and rent. Luxury rent growth, defined as rent in four- and five-star-rated apartments, has contracted the most in several Sun Belt markets, including Denver, Phoenix and…»

Hey, Phoenix homebuyers! If you’re in the market for a home, it might feel like you’ve walked into a maze of confusing information. With mortgage rates fluctuating, prices stabilizing, and the constant chatter about market trends, it’s easy to get lost. The truth is, owning a home could be closer…»

The pandemic’s lasting impact on Phoenix is perhaps most evident in our elevated home prices. The big picture: Phoenix’s market was already climbing before 2020, but when employees were given remote work options, many fled the coasts for the relative affordability of the Valley. Demand…»