Commercial Real Estate & Business News – May 16, 2023

TSMC Announced its Arizona Microchip Factory 3 Years Ago. Here’s What has Happened Since Then

A presidential visit, a massive construction effort, new suppliers moving in and billions of dollars in spending. The new Taiwan Semiconductor Manufacturing Co. complex is one of the most prominent economic projects ever for Arizona. The investment has grown…»

Here’s how much Apartment Space you can Rent on a Budget in Metro Phoenix

In Arizona, renters get the best bang for their buck in Tucson. Not only does it offer more than 900 square feet, but it’s the only city where you can get a three-bedroom apartment for that amount. The average rent in Tucson is $1,239 for an average size apartment of…»

Developer More Selective on New Tenants at Papago Plaza as Sprouts starts Construction

“Once the Sprouts is up and out of the ground and getting to be visible then our opinion is we might have as good or better options [for new leases],” Mashburn said. “There’s a laundry list of folks we’re out there [talking] with. The tenant interest is overwhelming almost.” Mashburn said that some of…»

Target, Sprouts coming to Vineyard Town Center in Queen Creek

Target and Sprouts Farmers Market are coming to Queen Creek to anchor the Vineyard Towne Center retail development area. The 260,000-square-foot open-air retail center built by Vestar is one of five ground-up developments by the company in…»

Mortgage Rates Fall in Latest Week. Economists Say this could Mark the Start of a Decline in Rates in 2023

The numbers: Mortgage rates fell for the second week in a row amid expectations of inflation slowing over the rest of the year. The 30-year fixed-rate mortgage averaged 6.35% as of May 11, according to data released by Freddie Mac on Thursday. It’s down 4 basis points from the previous…»