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 than 50 square miles.
New York-based Mack Real Estate Group, for example, purchased 224 acres near the Phoenix Deer Valley Airport to develop several million square feet of industrial space at Mack Innovation Park — it’s one of the largest industrial projects proposed for the area in recent years and is also a designated site for semiconductor suppliers.
Following the developer’s proposal, Taiwan-based Sunlit Chemical was one of the first TSMC suppliers to announce plans for a large facility in the Mack Innovation Park and recently started construction on its $100 million hydrofluoric acid plant only several miles east of the chipmaker.
With thousands of new homes and commercial space also poised to support the new semiconductor factory, known as a fab, and burgeoning technology corridor in north Phoenix, real estate experts say the planned chip facility has changed the landscape for the industrial market in Deer Valley, with numerous semiconductor-related tenants and small-to-large industrial buildings in the works.
Read More (subscriber content)
Some stories may only appear as partial reprints because of publisher restrictions.
Related:
Valley Semiconductor Sector a Decades-Long Growth Catalyst