Articles by Monica Tapia

Yuma County’s proposed budget for FY 2021-2022 has come out as $464M, up 58 percent from the year before. No property tax increase was recommended. Assessed property values increased by $79M, up 6.15 percent. New …

By Associated Builders and Contractors National nonresidential construction spending declined 1.1 percent in March, according to an Associated Builders and Contractors analysis of data published by the U.S. Census Bureau. On a seasonally adjusted annualized …

Groundbreakings 1. Clayco recently broke ground on a 388KSF speculative industrial building in Glendale’s Loop 303 Corridor for developer Scannell Properties. In collaboration with architect Ware Malcomb, Clayco is on track to complete the project …

By Tasha Anderson for AZBEX A new self-storage facility is being proposed on approximately 16.45 acres at the NWC of Sweetwater Avenue and Litchfield Road in the Marley Park Planned Area Development of Surprise. Hunter …

Partnering with Mortenson Construction, The San Carlos Apache Healthcare Corporation, has announced planning and construction will move ahead on the following four major projects: The SCAHC Healthcare Expansion Master Plan; A 100-Bed Long-term Care/Skilled Nursing …

The new issue of RealAccess, a report from Nuveen Real Estate, a TIAA company, takes a look at the impacts of the pandemic on the built environment. The study shows Arizona and other Sunbelt states …

Giving Back 1. Concord General Contracting came up with the idea of showing appreciation to teachers, school administrators and communities by providing some cheer to various school districts within Arizona, called Show the Love. They …

Sales Transactions 1. CapRock Partners purchased Northern 101 Commerce Center, a 388.6KSF, state-of-the-art industrial development at Glen Harbor Airpark, Glendale, for $44M, from Creation Equity. The development was designed and built by LGE Design Build. …

By Tasha Anderson for AZBEX This month, instead of looking at several different markets, BEX looked at the ever-growing multifamily market and put together a Top 10 list of multifamily projects, sorted by project valuation, …

By Transwestern Real Estate Services Transwestern Real Estate Services has announced the rebranding and upcoming renovations to 201 E. Washington in downtown Phoenix. Purchased by Sumitomo Corporation of Americas in late 2019 and formerly known …

Attendees to a recent Westmarc webinar were treated to an overview of the West Valley’s dramatic healthcare sector expansion, particularly along I-10 and McDowell Road. As a result of the region’s population growth, demographics are …

By Associated Builders and Contractors Construction employment is holding its own, although it is not back to pre-pandemic levels, according to state-by-state analysis of U.S. Bureau of Labor Statistics data released by Associated Builders and …

Groundbreakings 1. The joint venture of Metro Commercial Properties and Principal Real Estate Investors announced the commencement of development for five new light industrial properties totaling 406.6KSF to be added to the fully-occupied Metro East …

By Tasha Anderson for AZBEX Lodgeworks Partners, L.P. is planning a unique Archer-branded luxury boutique resort and multifamily residential project at the NEC of SR-89A and Art Barn Road in Uptown Sedona. The site encompasses …

By ABI Multifamily ABI Multifamily announced the $10.5M sale of FirstStreet at the Ballpark, a land deal located in Goodyear. Located on the SEC of Estrella Parkway and West Lower Buckeye Parkway, the 25.6-acre site …

Navajo Nation representatives recently appeared before the House Natural Resources subcommittee to give testimony on major infrastructure deficits and deficiencies on Tribal lands and to ensure Native Americans are included in funding under the Biden Administration’s …

Lumber prices have continued to rise after hitting an all-time high last September. The National Association of Homebuilders queried builders in its April 2021 NAHB/Wells Fargo Housing Market Index survey as to how they are …

Awards & Accolades 1. Craig Finfrock, CCIM, graduated in the 2020 Class of Jay W. Levine Leadership (JWL) Development Academy by the CCIM Institute. The graduation took place at the CCIM Midyear Governance Meetings, April …

Sales Transactions 1. An entity tracing to RPM Co. purchased the Village at Harvard Crossing, a 184-unit single-family rental community at the SWC of Pebble Creek Parkway and Virginia Avenue, Goodyear, for $56.12M, from The …

By Tasha Anderson for AZBEX The Town of Guadalupe recently issued a Request for Proposals to developers interested in leasing and/or purchasing approximately six parcels currently owned by the town. The goal of the request, …

By Land Advisors Organization Land Advisors Organization’s Metro Phoenix Homebuilding team announced the closing of a land sale in the West Valley of Metro Phoenix on behalf of Empire Village at Paseo de Luces, LLC, …

The Pima County Board of Supervisors has approved a Predevelopment Services Agreement with Knott Development, Inc. for the proposed Kino Sports Complex expansion. The plan includes adding sports facilities and extensive new retail and commercial …

Arizona companies and researchers at the University of Arizona are working to develop technology-based solutions that could make mining more sustainable and safer as an industry. Companies and researched solutions were showcased in the recent …