Scottsdale’s State of the Multifamily Market

On December 1st, ten panelists spoke at the Hyatt Regency Scottsdale Resort about the Scottsdale State of the Market: An Update On the City’s Leading Developments, Construction and Future Plans. One panel, moderated by Jason Morris (Withey Morris), focused on Analyzing Scottsdale’s Multifamily Market and featured Zach Haptonstall (Rise48 Equity, Scottsdale 5th Ave), Jennifer Schrader …

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Valley Homebuilders See Big Success with Multi-Gen Living

By Angela Gonzales | Phoenix Business Journal Despite a cooling housing market, two public homebuilders are seeing stronger sales of their multigenerational living product. Miami-based Lennar Corp. and Newport Beach, California-based Landsea Homes Corp. are seeing stronger sales of this unique product amid high rental and mortgage interest rates. Lennar’s Phoenix division was the first …

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Plans to Turn Old Town Peoria Into New Retail Corridor

By Audrey Jensen | Phoenix Business Journal The city of Peoria has approved a new development agreement and is committed to spending up to $1.5 million for public infrastructure improvements for its historic Old Town area in the southern part of the city. Last year, Peoria posted a request for proposals for redevelopment of several …

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Investors Grow Pessimistic About Valuation, Rent Growth

By Ashley Fahey | National Observer: Real Estate Edition The for-rent housing market looks to be heading into a slowdown as rents dropped in August, according to at least a few trackers of the apartment industry. CoStar Group Inc., through its Apartments.com platform, found rents declined 0.1% between July and August. The U.S. median rental …

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Semiconductor Growth in North Phoenix to Intensify

By Audrey Jensen | Phoenix Business Journal Not long after Taiwan Semiconductor Manufacturing Co. announced its decision to build a $12 billion factory in Phoenix, real estate firms started buying up hundreds of acres in the nearby Deer Valley submarket, which is home to one of the largest job corridors in Phoenix and spans more …

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Valley Semiconductor Sector a Decades-Long Growth Catalyst

By Audrey Jensen | Phoenix Business Journal Intel Corp.’s existing chip fab and $20 billion expansion in Chandler, in addition to Onsemi and Microchip Technology Inc., have helped build up the Valley’s semiconductor ecosystem and paved the way to attract TSMC (Taiwan Semiconductor Manufacturing Company) and future suppliers to the Valley, experts say. Intel, which …

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Valley CRE Brokers On Near-Term Subleasing Marketing

By Dale Brown | Phoenix Business Journal What kind of near-term future do you see for the Phoenix-area subleasing market? “The sublease market is full of opportunities for businesses to experiment with new/different/better locations on a cost-effective basis while “right-sizing” in-person office requirements.” – Beth Jo Zeitzer, CEO and designated broker, R.O.I. Properties. “The office …

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500 Luxury Apartment Units Okayed Near Fashion Square

By Ron Davis | Phoenix Business Journal Artist rendering of Hazel & Azure project across from Scottsdale Fashion Square. A development application that called for more than 500 luxury apartment units and more than 14,000 square feet of ground floor commercial space was approved by Scottsdale City Council on Sep. 20, 2022. The council gave …

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Scottsdale Developer Eyes Mixed-Use Opportunity Zone

By Ron Davis | Phoenix Business Journal The Riverwalk Development on a Qualified Opportunity Zone in Scottsdale | CaliberCos Inc. CaliberCos. Inc. is looking to bring new commercial development along the Loop 101 near Scottsdale and the Salt River Pima-Maricopa Indian Community. The Scottsdale developer is nearing closing on a land lease that would allow …

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ON Semiconductor Relocating Its HQ to Scottsdale Office Space

By Ron Davis | Phoenix Business Journal Phoenix-based Onsemi has leased about 175,000 square feet of office space in Scottsdale, with plans to sell its existing Phoenix campus. The company will be relocating its corporate headquarters to the McKesson office development on Pima Road, the semiconductor supplier confirmed. A timeline for move-in is “as soon …

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