Arizona Construction Lost 5,100 Jobs in December

By Tasha Anderson for AZBEX  Arizona’s seasonally adjusted unemployment rate decreased to 7.5 percent in December 2020, from November 2020, according to the latest report published by the Arizona Office of Economic Opportunity.   The national rate remained at 6.7 percent from November. In December 2019, the state had a seasonally adjusted rate of 4.5 percent, and the national was

Local News

Arizona Projects 01-29-21

Groundbreakings  1. Fulton Homes is beginning work on the infrastructure at Barney Farms, a 550-acre master-planned community that has been years in the making. The sprawling development is located at Queen Creek and Signal Butte Road and will

People on the Move

Industry Professionals 01-26-21

Boards & Commissions  1. Libby Ekre, principle and certified property manager with MEB Management Services, will be elected to the national position as secretary and treasurer for 2022 with the Institute of Real Estate Management (IREM) at their

Commercial Real Estate

Commercial Real Estate News 01-26-21

Sales Transactions  1. TerraCap Management, LLC purchased Anchor Centre, a 333KSF, Class A office asset at 2201 and 2231 E. Camelback Road, Phoenix, for $103.5M. The JLL Capital Markets team consisting of Director Ben Geelan, Senior Managing Director Michael Leggett

Planning & Development

Tempe Developments Arise from Insight Sale

By ViaWest Group and Colliers International  ViaWest Group of Phoenix has purchased three real estate assets in Tempe from Insight Enterprises, Inc. for $26.85M. The portfolio includes Insight’s corporate headquarters building situated on a 19-acre site at 6280 S. Harl Avenue. ViaWest plans

Local News

Arizona Projects 01-22-21

Groundbreakings  1. Bethany Home Industrial, LLC broke ground January 19th on the 653KSF Brooklyn Bedding/Dreamfoam HQ and Manufacturing Building in Glendale. The design build team on the $44.8M project includes Ware Malcomb and Alston Construction.  2. Robert E. Porter broke ground on Air Guitar, a


BEX Predicts Positive Growth for 2021

By Tasha Anderson for AZBEX  Despite the collective gut-punch that COVID-19 brought in 2020, Arizona’s state economy and construction industry has done really well, and BEX predicts 2021 will be another big year for construction.  Such was the overall takeaway from the BEX

People on the Move

Industry Professionals 01-19-21

Awards & Accolades  1. AZ Business Magazine published the 10 Young Business Leaders to Watch in 2021. The CRE leaders on this list include:  Adam Finkel, Principal; Tower Capital  Lindsay Mollenberndt, Chief Business Development and Marketing Officer; Fennemore  Kevin Walsh,

Commercial Real Estate

Commercial Real Estate News 01-19-21

Sales Transactions  1. MG Properties purchased Andante Apartments, a 576-unit, 32-building complex at 15801 S. 48th Street, Phoenix, for $145.25M, from Security Properties. CBRE Capital Markets financed $99.5M in new Fannie Mae debt.  2. Equity LifeStyle Properties purchased the Dolce Vita multifamily residential complex for