Author: BEX Staff

Taiwan Semiconductor Manufacturing Company could expand its presence in Arizona beyond its current $165B total expected investment under a potential trade deal currently in discussions between the Trump administration and Taiwan. Under the proposed agreement, the U.S. would reduce tariffs on Taiwanese exports to 15%, down from the current 20%. Taiwan would, in turn, pledge more than $300B in foreign direct investment in the United States. The Taiwanese investment would expand on TSMC’s currently pledged $165B plan for six semiconductor fabs, two advanced packaging facilities and a research and development center at its north Phoenix site. TSMC could build “several”…

By Roland Murphy for AZBEX While shifts and tempo changes have rippled through the construction market, the uncertainty and across-the-board slowdown many predicted in 2025 never materialized. According to the Rider Levett Bucknall Q4 2025 Quarterly Construction Cost Report, construction spending was down slightly, dipping 1.8% versus Q4 2024. Activity levels varied across sectors, with data centers and other large-volume megaprojects maintaining momentum, while commercial and institutional projects shifted only slightly. Even though the Federal Reserve began lowering interest rates modestly in 2025, and lower rates allowed several projects to start moving forward, the fact that rates are still higher…

Groundbreakings 1. Construction is set to begin on the second segment of the I-10 Wild Horse Pass Corridor Project, a 26-mile highway widening between Phoenix and Casa Grande. The new phase covers a 10-mile stretch from Gas Line Road to south of State Route 387 and will expand I-10 from two to three lanes in each direction. FNF Construction, Inc. is the contractor for this segment. The four-phase project is scheduled for full completion by late 2029. 2. Construction has begun on the Lake Pleasant Pkwy. widening project in north Peoria, stretching from Loop 303 to approximately 1,000 feet north…

By Roland Murphy for AZBEX The Jan. 8 meeting of the Casa Grande Planning and Zoning Commission saw one of the first known instances of Arizona’s new law requiring administrative review and approval of site plans and some other project processes, reversing a previously issued denial. House Bill 2447 was passed by the Arizona State Legislature and signed into law by Gov. Katie Hobbs last year. Under the law, site plans, plats and design review requests now bypass public hearings and must be subjected to an objective administrative review based on standardized criteria. The new statute went into effect Dec.…

By Associated Builders and Contractors The construction industry lost 11,000 jobs on net in December, according to an Associated Builders and Contractors analysis of data by the U.S. Bureau of Labor Statistics. On a year-over-year basis, industry employment grew by 14,000 jobs, an increase of 0.2%. Nonresidential construction employment decreased by 7,800 positions on net, with losses in two of the three subcategories. Heavy and civil engineering added 2,300 jobs, while nonresidential specialty trade and nonresidential building lost 8,900 and 1,200 jobs, respectively. The construction unemployment rate was 5.0% in December. Unemployment across all industries dropped to 4.4% but is…

By BEX Staff for AZBEX It appears last month’s ceremonial groundbreaking and celebratory announcement for the KPPC Advanced Chemicals plant may have been premature. The Casa Grande Planning and Zoning Commission rejected a request for a conditional use permit needed for the plant’s development during its Jan. 8 meeting. KPPC has the right to appeal within 10 days, according to officials. The 26-acre site north of Commerce Drive and the Ash Avenue alignment would be home to an 88.7KSF project to produce chemicals used in the semiconductor manufacturing process. A local news outlet reported a primary reason for rejecting the…

By Roland Murphy for AZBEX After a planned 566-unit multifamily development from IDM Companies failed to take shape, Panattoni Development Company is now proposing to revert the site to industrial uses for a 448.8KSF warehouse development. IDM had planned in 2023 to build IDM Fountainhead at the SWC of Priest and Alameda drives in Tempe. The company requested and received a General Plan amendment and a rezoning from General Industrial to Mixed-Use, High Density for the project. No development was ever begun. AZBEX was the first outlet to report on the IDM Fountainhead plan. (AZBEX; March 17, 2023) According to…

By BEX Staff for AZBEX The Industrial construction pipeline in metro Phoenix contracted sharply in Q4 2025, according to the latest report from Kidder Mathews, as only 15.8MSF was delivered, a 54% year-over-year decline. Vacancy was also up slightly last quarter, reaching 13.5% and representing a 20 basis point year-over-year increase. The report notes developers are currently prioritizing absorbing existing inventory. Total availability declined 70 bps to 14.9% Direct asking rates for spaces larger than 10KSF rose over the quarter, reaching $1.19/SF NNN, an increase of 6% from $1.13/SF NNN in 2024. Total construction totaled 16MSF, while direct net absorption…

Giving Back 1. LGE Design Build recently held its inaugural clay shoot charity event in support of the Arizona Anti-Trafficking Network. 2. Kidder Mathews recently announced the results of its second annual Holiday Giving Campaign. This year, the company raised $88.3K in support of three nonprofits in the Southwest region of the United States. This includes $36.3K for Feeding America, $30K for Habitat for Humanity and $20K for Northwest Harvest. Boards & Commissions 3. Arizona Commercial Real Estate Women has named its 2026 Board of Directors. The Board consists of: Nicole Solar – President, Lynette Dreitz-Fort – Past President, Carol…

Sales Transactions 1. An entity tracing to SkyREM purchased the Confluence industrial property at the SWC of the Casa Grande-Picacho Highway and North Sunland Gin Road in Pinal County for $51.6M. Opus Group sold the two-building property. JLL’s Greer Oliver, Ben Geelan, Bryce Beecher and Gigi Martin represented the seller. 2. Tratt Properties acquired the former KOREPlex battery plant site, a roughly 214-acre industrial development site in Buckeye, for $32.5M. The seller was KORE Power Inc., which purchased the property in 2022 for $29M before abandoning plans for a $1B lithium-ion battery manufacturing campus. The site is located off Baseline…