Phoenix developer buys former KORE Power battery plant site in Buckeye
The site where KORE Power had previously planned to build a massive battery manufacturing campus in Buckeye before pulling the plug has a new owner. Phoenix-based Tratt Properties acquired the roughly 214-acre site off Baseline Road and State Route 85 on Dec. 31 for $32.5 million, according to Tempe-based real estate database Vizzda LLC. Tratt, which is an industrial developer and investment company, previously eyed the site and actually had it in escrow before KORE Power…»
Phoenix apartment rent growth finished 2025 in negative territory for third straight year
The average asking rent for Phoenix apartment properties fell 3% in 2025, the largest annual decrease since the Great Recession. Last year’s decline comes on the heels of underwhelming performance in both 2023 and 2024, which each saw losses of between 1% and 1.5%. Asking rents are now cumulatively down about 7% from the all-time peak in mid-2022. Persistent supply pressure remains the primary culprit for softening operations. The Valley has been contending with the largest…»
Banner Health moving corporate headquarters
Banner Health will relocate its corporate headquarters to Bond Phoenix at 3200 E. Camelback Road in Phoenix from Banner Corporate Center – Phoenix Plaza beginning in the fourth quarter of 2026. The health system will occupy 67,000 square feet at Bond Phoenix, compared to the more than 304,000 square feet currently secured at Phoenix Plaza. The move reflects Banner Health’s ongoing commitment to financial stewardship by reducing administrative costs to better focus…»
Foreign Capital Returns to U.S. CRE With a Sharper Playbook
Foreign capital is not just coming back to U.S. commercial real estate in 2026 — it is returning with a far more surgical playbook. Instead of chasing broad themes, global investors are zeroing in on basis, micro‑markets and a handful of asset types where cyclical dislocation and structural demand are finally starting to line up. By late 2025, the tone among cross‑border investors had shifted from hesitation to active positioning for a new vintage year. Gunnar Branson, CEO of AFIRE…»
TSMC pays $197M for north Phoenix land to propel expansion
TSMC Arizona bought 900 acres of land near Loop 303 and Interstate 17 at an Arizona State Land Department auction Jan. 7 to facilitate the company’s massive semiconductor manufacturing facility’s expansion. The starting bid for the land was $197.25 million. The semiconductor giant indicated in September it was interested in the land to accommodate its $165 billion facility in north Phoenix. At the time, Chris Dotts, a spokesperson for TSMC, said the company will need…»