Commercial Real Estate & Business News – November 10, 2022

Chip-Making Juggernaut TSMC Eyes Multibillion-Dollar Arizona Factory Expansion

Taiwan Semiconductor Manufacturing Co., the world’s largest contract chip maker, is preparing another multibillion-dollar factory investment in Arizona, people familiar with the plans said. TSMC TSM -0.03%decrease; red down pointing triangle plans in the coming months to…»

Why Development of Medical Office Buildings is Booming

Maricopa County, the state’s largest by population and home to the capital, has long been a destination for those looking to escape frigid winters in search of sunnier climes. An increase in the number of residents drives higher demand for healthcare services, and one of the…»

Mack Innovation Park Deer Valley Brings 1.3M SF to North Valley

In the Deer Valley area of North Phoenix, Mack Real Estate Group (MREG) is building a new industrial park approximately 10 minutes away from what will be Taiwan Semiconductor Manufacturing Company’s (TSMC) manufacturing facility…»

Cracks Finally Appear in the Job Market

Don’t be fooled by the strong jobs report that arrived last Friday. While nonfarm payrolls grew by 261,000 positions in October, and revisions to the prior two months added another 29,000 positions, 40% of the net new jobs were in the…»

Phoenix Metro Homebuilding Permits Drop as Mortgage Rates Increase

The homebuilding industry is taking a hit as rising mortgage interest rates are causing buyers to hit the pause button. As a result, Phoenix-area homebuilders have been issuing fewer single-family permits. So far this year, single-family permits are down…»