People on the Move

Industry Professionals 04-14-20

Giving Back  1. Doug Bondon and the team at Artisan Colour are stepping up their efforts in response to the current COVID-19 pandemic by making face shields. The first set of shields was donated to the Scottsdale fire and police departments. When the project

Commercial Real Estate

Commercial Real Estate Transactions 04-14-20

Sales Transactions  1. Button Capital Limited purchased Park Place at Fountain Hills, a 230-unit Class A multifamily community in Fountain Hills, for $63.5M. CBRE’s Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch structured the transaction on behalf of the seller, Real

Local News

Arizona Projects 04-10-20

Awards & Accolades  1. AZRE Magazine has announced the winning projects for the 2020 Real Estate Development (RED) Awards via a virtual ceremony. AZRE magazine received a record number of nominations for the RED Awards this year, and 17

Planning & Development

Casa Grande P&Z Approves New Holiday Inn

By Tasha Anderson for AZBEX  Despite a recent sharp decline in Arizona hotel occupancy and temporary closures due to COVID-19, plans for a new Holiday Inn Hotel and Conference Center are making their way through the City of Casa Grande.  Casa Grande’s Planning and

Budgets & Funding

COVID-19 News Round-up for April 7

Policy & Stimulus News  Major Disaster Declaration Request Approved  Governor Doug Ducey announced that President Donald Trump, in coordination with the Federal Emergency Management Agency, approved Arizona’s request for a Presidential Major Disaster Declaration for the state. The declaration makes available additional federal assets and

Trends

Construction Employment Dropped in March

Source: Associated Builders and Contractors  Construction industry employment declined by 29,000 in March, according to an Associated Builders and Contractors analysis of data released by the U.S. Bureau of Labor Statistics. Nonresidential construction employment declined by 24,600 in March.  All three

People on the Move

Industry Professionals 04-07-20

Giving Back  1. Although the annual golf tournament benefitting Kids for Hope was postponed, engineering consulting firm, Terracon still found a way to donate. Terracon gave companies that signed up for the tournament the option of donating their registration/sponsorship

Commercial Real Estate

Commercial Real Estate Transactions 04-07-20

Sales Transactions  1. Tower Capital, an independent structured finance firm, arranged two acquisition loans totaling $26.19M for multifamily properties in Phoenix. Tower Capital arranged $21.5M for San Marina, a 400-unit, affordable housing apartment complex. The second acquisition loan,

Trends

Spending Decline Indicates What’s to Come

Source: Associated Builders and Contractors  National nonresidential construction spending fell 1.8 percent in February but is up 2.5 percent compared to the same time last year, according to an Associated Builders and Contractors analysis of data published by the U.S. Census Bureau. On a

Local News

Arizona Projects 04-03-20

Awards & Accolades  1. The American Society of Civil Engineers Phoenix Branch recognized outstanding projects at their March 11th luncheon. The $7.5M Pinal Valley Recharge and Recovery Facility in Coolidge received the Small Project of the Year award. The team