People on the Move

Industry Professionals 03-31-20

Giving Back  1. The Russ Lyon Charitable Foundation, a subsidiary of Russ Lyon Sotheby’s International Realty, will be donating $10K to nine food banks across Arizona in the wake of the coronavirus outbreak.  2. The CoreCivic Saguaro Correctional Center offers inmates

Trends

Ariz. Construction Gained 9,200 Jobs in February

By Tasha Anderson for AZBEX  Arizona’s seasonally adjusted unemployment rate remained at 4.5 percent in February 2020, from January 2020, according to the latest report published by the Arizona Office of Economic Opportunity.   The national rate decreased to 3.5 percent from 3.6 percent in January. In February 2019, the state had a seasonally adjusted rate of 4.9 percent, and

Planning & Development

Luxury Multifamily Project Announced

Source: Hines  International real estate firm Hines, along with a joint venture partner, announced it has closed on 11 acres to develop a 325-unit luxury for-rent residential property in north Phoenix.  Hines’ multifamily property, located at the NWC of Happy Valley Road and 35th Avenue, will consist of six three-story buildings.

Budgets & Funding

Local AEC Market Impacts COVID-19

Budget & Stimulus News  Ariz. $50M Relief Plan Progresses  The Arizona House of Representatives broke through a political logjam on Monday, approving a $50M relief package as the state faces the economic toll of the COVID-19 pandemic and adjourning

Local News

Arizona Projects 03-27-20

Groundbreakings  1. Banyan Residential announced the start of construction on the long-anticipated Scottsdale Entrada development, a vibrant mixed-use campus, including 736 apartment units, 250KSF of office space, 5KSF of retail at the NEC of 64th Street and McDowell Road. Construction on all project components will begin immediately,

People on the Move

Industry Professionals 03-24-20

Awards & Accolades  1. NAI Horizon has named their 2019 Top Producers. They are:  Laurel Lewis, Office;   Lane Neville, Investment Sales (office and retail);  Shelby Tworek, Retail;   Chris Gerow, Retail;   Isy Sonabend, Industrial;   Matt Harper, CCIM, Retail;   Denise Nunez, Investment Sales (self-storage); Troy Giammarco, Office;  Gabe

Commercial Real Estate

Commercial Real Estate Transactions 03-24-20

Sales Transactions  1. Guardian Storage Centers purchased Storage at Anthem, a 784-unit self-storage facility located in Anthem for $18.2M. Brian Fulton, Mike Mele, Luke Elliott, and Devin Beasley of Cushman & Wakefield’s Tampa, Florida-based Self-Storage Advisory Group represented the seller, The

Local News

AZ Const. Pushes Forward; Businesses Adapt

By Rebekah Morris for AZBEX  Construction continues on sites throughout Arizona while other industries have paused amid COVID-19 restrictions. Here are the locally observed impacts so far:  In–person networking events and pre–submittal meetings have all but dried up. Drastic measures are being

Planning & Development

Hines Announces New 2-Bldg. W. Valley Spec. Project

Source: Hines  Hines, with funds managed by Oaktree Capital Management, L.P., has announced they have closed on the property for the future development of two speculative industrial buildings, each 569.5KSF in size, in Glendale. The project, located just off Loop 303 between Glendale Avenue and Bethany Home Road, will be known as G303 — short for Glendale

Local News

Arizona Projects 03-20-20

Awards & Accolades  1. National Association of Home Builders (NAHB) has awarded the 8.9KSF Seven Desert Mountain clubhouse with the 2019 Best in American Living Platinum Award (BALA) for best community facility.  Groundbreakings  2. Diversified Partners held a groundbreaking ceremony for its large,