Local News

Arizona Projects 10-16-20

Groundbreakings  1. Sundt Construction, Inc. recently started expanding the campus of Royal Oaks, a Sun City retirement community. Sundt will help shape Royal Oaks’ newest neighborhood, Inspirata Pointe, by adding four new independent living buildings and new pavilions to

People on the Move

Industry Professionals 10-13-20

Awards & Accolades  1. AZ Business, in partnership with BestCompaniesAZ, has selected Suntec Concrete as one of the Most Admired Companies of 2020. Annually, Suntec puts on a teacher appreciation program, through which employees can nominate local impactful teachers who are

Commercial Real Estate

Commercial Real Estate Transactions 10-13-20

Sales Transactions  1. Cortland Partners purchased Metropointe Apartments, a 408-unit multifamily community at 7017 S. Priest Drive, Tempe, for $96.75M. Steve Gebing and Cliff David with Institutional Property Advisors (IPA), a division of Marcus & Millichap, represented the seller, Rockwood Capital, and procured

Local News

Arizona Projects 10-09-20

Groundbreakings  1. Johnson Carlier broke ground on the Southeast Justice Courts and Adult Probation for Maricopa Court. Located at 222 E. Javelina Dr. in Mesa, the 109KSF facility will triple the amount of space of the existing building and allow for

Budgets & Funding

Arizona K-12 Bonds on the November 2020 Ballot

By Tasha Anderson for AZBEX  Approximately $700M worth of Arizona K-12 school district bond measures will be on the Tuesday, November 3rd ballot, a significant decrease from the record-breaking $1.6B total request from 2019.  The largest bond requests are once again coming from Maricopa County, with Pinal County again at

Trends

RLB: Phoenix Crane Count is Up

Source: Rider Levett Bucknall  International property and construction consultancy firm Rider Levett Bucknall has released its latest RLB Crane Index and Quarterly Cost Report. Together, the two documents provide an insightful look at the North American construction industry in 14 key markets.  “The pandemic-induced recession is going

People on the Move

Industry Professionals 10-06-20

Boards & Commissions  1. The Central Arizona Chapter of CCIM has announced its leadership and board for 2021. Todd Hamilton, CCIM, SIOR, Citywide Commercial Real Estate, will serve as 2021 President. The leadership team includes Marina Hammersmith, CCIM, ORION Investment

Commercial Real Estate

Commercial Real Estate Transactions 10-06-20

Sales Transactions  1. A California-based buyer purchased Mountain Gate Apartments, a 132-unit multifamily community at 4602 E. Paradise Village Parkway North, Phoenix, for $22.25M, from a California-based seller. ABI Multifamily’s Alon Shnitzer, Rue Bax, Doug Lazovick, John Kobierowski, and Eddie Chang represented

Trends

September LMS Delves into APDM Contracts

By Rebekah Morris for AZBEX  On Wednesday, September 30th, 2020, more than 100 people logged on to the most recent Leading Market Series (LMS) event presented by BEX, which explored the topic of Alternative Project Delivery Methods (APDM) contract usage by public owners. Since 2000, HB2340 enabled

Local News

Arizona Projects 10-02-20

Groundbreakings  1. Salt River Project and sPower announced construction is underway on East Line Solar, a new solar power plant that will bring $10M in 25 years of tax revenue and up to 350 construction jobs to Pinal County.  2. The Town