Planning & Development

122-room Hotel Planned for Mesa

By Tasha Anderson for AZBEX  A limited service hotel is being planned for a vacant 2.9-acre site north of Baseline Road and east of Mesa Drive.  Gilmore Planning & Landscape Architecture, on behalf of developer, BG Edge, LLC, submitted plans to

People on the Move

Industry Professionals 11-17-20

Giving Back  1. During its fourth-quarter round of giving, the Sundt Foundation awarded more than $75K in grants to 19 Phoenix-area nonprofits. In addition to its grants, the Foundation also donated 25 gently used computers to five Valley charities. Amanda Hope Rainbow

Budgets & Funding

2020 K-12 Bond Recap

By Tasha Anderson for AZBEX  While the final results have yet to be confirmed, bond issues from Arizona’s November 3rd elections appear to be a mix of approvals and rejections. In all, approximately $361.1M in bonds are

Uncategorized

COVID-19 News Round-up for November 10th

Budget, Policy & Stimulus News  Judge Orders PPP Loan Information Release  Late last week a U.S. District Judge James E. Boasberg ordered the Small Business Administration to release detailed information on Paycheck Protection Program and Economic Injury Disaster Program loans by November 19th.

People on the Move

Industry Professionals 11-10-20

Giving Back  1. The Sundt Foundation awarded grants to nine Southern Arizona nonprofits, totaling more than $25K, during its fourth quarter giving round. The Foundation awards grants each quarter to local charities that support disadvantaged children and families. Nonprofits

Commercial Real Estate

Commercial Real Estate Transactions 11-10-20

Sales Transactions  1. D.R. Horton Inc. paid $245.5M for 2,783 acres at the SEC of Elliot and Meridian roads, as the winning bidder in Wednesday’s Arizona State Land Department auction. D.R. Horton outbid Shea Homes and two partnerships named Stone Hill Land Partners LLC and Superstition Vista 2783 LLC. 

Planning & Development

COVID-19 News Round-up for November 6th

Budget, Policy & Stimulus News  New SBA Forms Raise Concerns  The Small Business Administration wants approval to send revised Paycheck Protection Program loan questionnaires to businesses that received more than $2M under the program. Some experts have expressed concern

Trends

Nonresidential Const. Spending Dipped in Sept.

National nonresidential construction spending fell 1.6 percent in September, according to an Associated Builders and Contractors analysis of data published by the U.S. Census Bureau. On a seasonally adjusted annualized basis, monthly spending totaled $794.3B.   Among the 16 nonresidential subcategories, 13 were down on

Local News

Arizona Projects 11-06-20

Groundbreakings  1. On behalf of developer Merit Partners, Stevens-Leinweber Construction began a 153.7KSF tenant improvement at 7506 W. Lincoln St., Tolleson, for MiTek. SLC will customize the facility with 4.2KSF of Class A office space, new state-of-the-art dock loading packages, a custom overhead door to manage

Trends

Arizona Cities See Higher Rents

While Apartment List’s National Rent Index is down 1.4 percent over the last year, rents in Tucson have increased 4.7 percent since the start of the COVID-19 crisis. Since March, Tucson’s month-over-month rents are up 0.6 percent, and year-over-year increases total 5.9 percent.

People on the Move

Industry Professionals 11-03-20

Giving Back  1. Friendship Village Tempe, City of Tempe and Ryan Companies announced the completion of the Friendship Evergreen Community Garden at Ehrhardt Park. The new, one-acre community garden will provide the opportunity for Friendship Village residents and the surrounding neighborhood to

Commercial Real Estate

Commercial Real Estate Transactions 11-03-20

Sales Transactions  1. A global real estate investor purchased a 110.7KSF industrial property at 225 S. 51st Street in the Phoenix Sky Harbor submarket for an undisclosed amount. Will Strong of Cushman & Wakefield represented the seller, CapRock Partners. The buyer represented itself. The property is currently