Planning & Development

COVID-19 News Round-up for October 30th

Budget, Policy & Stimulus News  Litchfield Park Revises Business Assistance Program  Litchfield Park has eased the requirements for businesses and nonprofits seeking COVID-19-related relief grants under its Business Assistance Program. Despite putting $180K in federal CARES Act monies aside in August

Local News

Arizona Projects 10-30-20

Groundbreakings  1. Sky Plus Hotels, an affiliate of SkyBridge Arizona, announced the development of a new dual brand, 127-room Wingate/Hawthorn Suites hotel at Phoenix-Mesa Gateway Airport. The Sky Plus Phoenix-Mesa Gateway Hotel will open sometime in the first quarter of 2022. 

Planning & Development

COVID-19 News Round-up for October 27th

Budget, Policy & Stimulus News  Floodgates Open on PPP Loan Forgiveness  The Small Business Administration is facing a mountain of Paycheck Protection Program loan documents and forgiveness applications as the “floodgates” open on small businesses asking for their loans

Trends

Investors Flocking to Biolab Sector

By Sebastian Obando for National Real Estate Investor  Commercial real estate investors are showing increasing interest in biolab facilities as healthcare research and development has accelerated due to the pandemic.  “[There is] an increased demand for laboratory space which, when coupled

People on the Move

Industry Professionals 10-27-20

Giving Back  1. CHASSE Building Team partnered with the Tempe Elementary School District in October to assemble and launch “Little Free Libraries” at four local elementary schools: Laird, Thew, Nevitt and Scales. The general contractor both assembled the four 4-foot structures at the schools

Local News

Arizona Projects 10-23-20

Groundbreakings  1. Developer Joe L. Cook, My Home Group (MHG) Commercial, Construction Solutions Company (CSC) and the City of Maricopa are holding a groundbreaking ceremony for the 30+ acre Estrella Gin Business Park on October 23rd at 9am, at 45654 W. Edison Rd. The Estrella Gin

People on the Move

Industry Professionals 10-20-20

Giving Back  1. The Central Arizona chapter of CCIM, commercial real estate’s global standard for professional achievement, is offering two scholarships for classes in 2021 that lead toward getting the prestigious CCIM designation. The 2021 scholarship programs

Commercial Real Estate

Commercial Real Estate Transactions 10-20-20

Sales Transactions  1. Western Wealth Capital acquired Onnix Apartments, a 659-unit multifamily property at 1500 E. Broadway Road, Tempe, for $117.5M. The seller was Bridge Investment Group Partners. Institutional Property Advisors Arizona’s Cliff David and Steve Gebing handled the transaction.  2. An

Trends

AZ Const. Reports No Job Gains/Losses in Sept.

By Tasha Anderson for AZBEX  Arizona’s seasonally adjusted unemployment rate increased to 6.7 percent in September 2020, from August 2020, according to the latest report published by the Arizona Office of Economic Opportunity.   The national rate decreased to 7.9 percent from 8.4 percent in August. In September 2019, the state had a seasonally adjusted rate of 4.6 percent, and the national was

Budgets & Funding

COVID-19 News Round-up for October 16th

Budget, Policy & Stimulus News  SBA Makes Some Smaller Loan Forgiveness Easier  The Small Business Administration released a streamlined Paycheck Protection Program loan forgiveness application for some loans under $50K — but small-business groups and experts say it still leaves