Budgets & Funding

COVID-19 News Round-up for August 28

Budget, Policy & Stimulus News  Scottsdale Still Accepting Reimbursement Applications  Small businesses in Scottsdale can receive up to $5K in reimbursement grants for their costs related to COVID-19. The city is still accepting applications for the Small Business Reimbursement

Legislation & Regulations

Construction Contracts in the COVID Era

By David A. Blake for GlobeSt.com  Those entering into new construction contracts should include custom language addressing the parties’ respective rights and responsibilities related to COVID-19. Many articles and webinars have focused on how traditional contract clauses in

Local News

Arizona Projects 08-28-20

Awards & Accolades  1. Three of the state’s major freeway and highway projects have earned regional awards from The American Association of State Highway and Transportation Officials. These projects will now be considered for selection as one of

Planning & Development

Axon Seeks $9.4M Deal from Scottsdale

By Wayne Schutsky for Scottsdale Progress  Scottsdale has reached a preliminary agreement with Axon to reimburse the body camera manufacturer over $9M in infrastructure costs and other expenses connected to the planned expansion of its headquarters in Scottsdale.  The

Local News

ADOT Announces Disparity Study Finalization

Source: Arizona Department of Transportation  The Arizona Department of Transportation has finalized the Disparity Study report and the Federal Highway Administration Overall Disadvantaged Business Enterprise Goal and Methodology for federal fiscal years 2021-2022.  Based on the results of the Disparity Study, which took into

Commercial Real Estate

Commercial Real Estate Transactions 08-25-20

Sales Transactions  1. An unnamed institutional buyer purchased a 50.4KSF Target-occupied building at 1625 Camelback Road, Phoenix, for $20.3M. Newmark Knight Frank Net Lease Capital Markets Executive Managing Director Matt Berres and Director Samer Khalil, in cooperation with Managing Director

Trends

Ariz. Construction Lost 1,200 Jobs in July

By Tasha Anderson for AZBEX  Arizona’s seasonally adjusted unemployment rate increased to 10.6 percent in July 2020, from June 2020, according to the latest report published by the Arizona Office of Economic Opportunity.   The national rate decreased to 10.2 percent from 11.1 percent in June. In July 2019, the state had a seasonally adjusted rate of 4.7 percent, and the national was

Local News

Arizona Projects 08-21-20

Awards & Accolades  1. ENR’s regional Excellence in Safety Award is now in its eighth year and is honoring three projects for their outstanding safety records and jobsite procedures. The Arizona project that won the Excellence in safety, Award of

Budgets & Funding

COVID-19 News Round-up for August 18

Economic News  Online Shopping & Delivery Squeezes Landlords  Digital grocery sales have soared, but potential aftershocks are significant for smaller tenants that occupy grocer-anchored centers that depend on grocers to draw in customers. Those tenants pay higher rents than they

People on the Move

Industry Professionals 08-18-20

Giving Back  1. During its third-quarter disbursement, the Sundt Foundation awarded more than $75K in grants to 25 Phoenix-area nonprofits and more than $23K in grants to nine Southern Arizona nonprofits.  2. The ASU Foundation accepts gifts of real estate and provides

Budgets & Funding

COVID-19 News Round-up for August 14

Economic News  80 Percent of Retail Tenants Paid July Rent  Fewer than 60 percent of national brand retail tenants paid their rents in May, but 80 percent mailed the checks in July, according to the Datex Tenant Track of more than 1,000 shopping centers and tens