Commercial Real Estate & Business News – October 16, 2024

The cranes, visible from miles away, loom over a massive microchip “fab” taking shape in the desert near Loop 303 and Interstate 17. But far more is happening in the North Valley beyond the Taiwan Semiconductor Manufacturing Co. plant, the engine driving much of that…»

Predicting the potential impact of economic change on commercial real estate has become a larger challenge than usual. On the multifamily front, RealPage has said that recent economic developments “reflected positively” on apartment demand. Absorption in the third quarter was more than 192,000 units…»

Pharmacy giant Walgreens Boots Alliance plans to close roughly about 1,200 underperforming U.S. stores, including around 500 over the next year, as it joins other drug store chains and retailers downsizing their fleets to create more profitable brick-and-mortar footprints…»

A Scottsdale developer is planning a 23-acre project in Carefree that could bring more than 100,000 square feet of retail and restaurants to the town. The site, located at Cave Creek Road and Carefree Highway, is called Carefree Quarter, and had been planned for retail development since 2018. According to…»

Of the few dozen semiconductor suppliers that have expanded in Arizona in recent years, eight of those are planning to set up shop south of Phoenix in Pinal County. Arizona has landed at least 40 semiconductor expansions, including suppliers, since 2020 to support…»