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Commercial Real Estate & Business News – May 7, 2024

Arizona is Poised for Further Momentum After TSMC, Intel & Other Semiconductor Victories

Arizona, over the past three years, has scored some huge victories in luring major semiconductor investments to the state, including a major Intel Corp. expansion in Chandler and the construction of three new factories in north Phoenix by Taiwan Semiconductor Manufacturing…»

Record Level of Construction Drives up Phoenix Industrial Vacancy

Greater Phoenix has been posting record levels of industrial construction and delivery of new product has driven up vacancy levels in the metropolitan area, according to a report from Colliers. During first quarter, 9.7 million new square feet were completed and vacancy rose…»

Industrial Development Lags Current and Future Demand

According to industrial CRE giant Prologis, its Industrial Business Indicator Activity Index showed an April level of activity “consistent with demand generation, supported by macro data that reflects restocking inventories amid resilient consumption activity, although realized net…»

My View: Understanding The Surge. How the Valley’s Rush to Build Will Play Out For Real Estate Tenants

As the industrial real estate market in Arizona experiences a monumental transformation, it’s crucial for tenants and occupiers of space to understand how the current surge in new construction deliveries and ongoing developments can impact them and their real estate strategy…»

Phoenix REALTORS Optimistic About Availability & Home Prices

Home sales in the Phoenix-metro area saw a decrease in March, but Phoenix REALTORS data still shows bright spots for both availability and home prices. This comes against the backdrop of robust existing-home sales across the United States, which last month exceeded economists’…»