Commercial Real Estate & Business News – October 7, 2021

Intel last Friday broke ground on a $20 billion expansion of its facilities in Chandler, Arizona, building two new fabrication plants, or fabs, at its Ocotillo campus. The two new chip factories – which will be known as Fab 52 and Fab 62 – will be operational within three years and will supply semiconductor chips at a time when a global shortage of…»

Buckeye City Council on Tuesday evening approved the infrastructure needed for a proposed 2.7-million-square-foot industrial park and other potential projects near Interstate 10 and Loop 303.The site is located on the northwest corner of McDowell and Perryville roads on about 163 acres, according to planning documents. Dave Roderique, Buckeye’s economic…»

PHOENIX – Developers who want to turn a long-empty storefront in Mesa into a large apartment complex have cleared an early hurdle.If plans progess, Stillwater Superstition will replace an old Kmart department store other retail sites near Power Road and Hampton Avenue after the Mesa City Council approved a zoning-use change…»

Cadence Living, Harrison Street and Ryan Companies US, Inc. announce that construction has begun on its newest approximately $64M luxury senior living community, Acoya Shea in Scottsdale, Arizona.The 197,000 square-foot luxury senior living community, located on 2.55 acres near the intersection of Scottsdale Road and Shea…»

With the Metro Phoenix residential real estate market setting new records on a daily basis, it might help prospective buyers and sellers to have an expert’s perspective on residential real estate in the Phoenix market — where it is now and a few predictions for 2022. Here are my Top 5 predictions for Phoenix residential real estate…»