People on the Move

Industry Professionals 08-31-21

Giving Back  1. The Sundt Foundation awarded more than $72K in grants to 16 Phoenix-area nonprofits during its current giving round. The Sundt Foundation awards quarterly grants to local Phoenix charities that support disadvantaged children and families. Nonprofits are

Commercial Real Estate

Commercial Real Estate News 08-31-21

Sales Transactions  1. Inland Real Estate Group of Cos. Inc. purchased the 286-unit Christopher Todd Communities at Estrella Commons build-to-rent property in Goodyear, for $98.098M, and the 222-unit Christopher Todd Communities on Happy Valley Road in Phoenix for $76.15M. That

Planning & Development

SRP to Expand Coolidge Generating Station

By Salt River Project  Salt River Project announced it is seeking Board approval to expand its Coolidge Generating Station, a quick-start natural gas power plant located in the Southeast Valley. The expansion will help SRP integrate more renewable energy resources into

Trends

Tucson Retail Slows Through Midyear

CBRE’s recent Q2 2021 Tucson Retail Report shows retail leasing activity fell in Q2 with a negative net absorption rate of 24.5KSF.  Q1 net absorption had been 31.5KSF.  Quarter-over-quarter vacancy was 8.3 percent, up from 8.1 percent in Q1. Q2 2020’s vacancy was

Local News

Arizona Projects 08-27-21

Groundbreakings  1. JE Dunn Construction and Anchor Health Properties announced they have broken ground on the $6.5M HonorHealth Prasada, a new state-of-the-art healthcare facility in Surprise. The new facility will offer a hybrid provider-based emergency room and urgent care model and is scheduled to

Economic Development

NAIOP Arizona Panel Event Examines Labor Shortage

Panelists at a recent NAIOP Arizona event recently tackled the skilled labor shortage and discussed ways to find and keep needed talent.  Members included:  Brandon Milligan: StrataTech Education Group,  Kevin Major: CBRE,  Danielle Feroleto: Small Giants, and  Mike Bontrager: Alston Construction and Build Your Future Arizona.  James Murphy of Willmeng Construction served

People on the Move

Industry Professionals 08-24-21

Giving Back  1. The Sundt Foundation awarded grants to nine Southern Arizona nonprofits during its current giving round. The Foundation awards grants each quarter to local charities that support disadvantaged children and families. Nonprofits are selected through

Commercial Real Estate

Commercial Real Estate News 08-24-21

Sales Transactions  1. Funds managed by Oaktree Capital Management L.P purchased Ravenwood Heights, a 240-unit multifamily community at 647 W. Baseline Road, Tempe, for $94.5M. CBRE’s Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch of Phoenix Multifamily Institutional Properties represented the

Trends

Arizona Construction Gained 300 Jobs in July

By Tasha Anderson and Rebekah Morris for AZBEX  Arizona’s seasonally adjusted unemployment rate decreased to 6.6 percent in July 2021, from 6.8 percent in June 2021, according to the latest report published by the Arizona Office of Economic Opportunity.   The national rate decreased to 5.4 percent from 5.9 percent in June. In July 2020, the state had a seasonally adjusted rate of 10.4 percent,

Local News

Arizona Projects 08-20-21

Awards & Accolades  1. The Arizona Multihousing Association announced the winners of the 29th Annual AMA/Cox Communications Tribute Awards. The projects that were awarded were:  Affordable Community of the Year: Cottonwood Crossing Apartments, Shelton Residential  Renovated Community of the Year: Haven at South