Author: BEX Staff

The first industrial development proposed for the 2,400-acre Halo Vista master planned area in north Phoenix has been submitted to the City’s review and approval process. Halo Vista is under development by a partnership of Mack Real Estate Group and McCourt Partners. Documents call for a three-phase development totaling almost 800KSF and targeted toward Taiwan Semiconductor Manufacturing Company suppliers. Timing of the phased development will depend on market dynamics and tenant needs. Phase I will feature three buildings of 159KSF, 49.9KSF and 43.7KSF. Phase II will also have three buildings and is planned for a total of 161.3KSF. The third…

By Arizona Department of Transportation The State Transportation Board has approved the 2027-2031 Five-Year Transportation Facilities Construction Program, which emphasizes pavement and bridge improvements and expanding several key highways. Approved at the board’s meeting June 19 in Nogales, the $11.3B 2027-2031 Five-Year Transportation Facilities Program is available for review at azdot.gov/FiveYearProgram. For Greater Arizona, which encompasses areas beyond Maricopa and Pima counties, the construction program emphasizes improving highway pavement and bridge infrastructure. These projects will improve highway safety, efficiency and functionality, such as intersection improvements, updates to ports of entry and rest areas, smart technologies and new signals, signs and…

By Pima County Three affordable housing developments supported by Pima County gap funding have each received allocations of $2.5M in Low-Income Housing Tax Credits, moving closer to delivering nearly 200 new affordable homes for local residents. The Pima County Board of Supervisors approved $500K in gap funding for each project, helping developers secure additional financing and compete for the tax credits through the Arizona Department of Housing. The Stone & Speedway Phase 1 project received $500K in County gap funding and is planned as a mixed-income development. The first phase will include 56 housing units (44 affordable), with additional housing…

Groundbreakings 1. Cavan Commercial has broken ground on Signal Butte & Germann, a three-building Class A light industrial development at 7423 S. Signal Butte Road in Mesa. The 4.1-acre project will feature three 15KSF freestanding buildings designed for flexible ownership and tenancy. Alexander Building Company is the general contractor; Pinnacle Design Inc. is the architect, and KBELL Engineering is the civil engineer. June 2027 is the estimated completion date. 2. A groundbreaking ceremony for a new Hampton Inn in Winslow is planned to take place before the end of June. The hotel will be on North Park Drive next to…

The Yuma County Board of Supervisors has unanimously approved pursuing a federal grant and providing the required local matching funds to advance a project that may ultimately address ongoing traffic and safety issues at the Union Pacific Railroad crossing at Fortuna Road. The County has already received funding from the Federal Railroad Administration’s Railroad Crossing Elimination Program for a design concept report to consider options for eliminating three at-grade crossings via a partnership with Welton and Yuma. The County Engineering Department is preparing a request for proposals to find a consultant to finish the report. If Yuma County is chosen…

Giving Back 1. Southwest Gas employees recently participated in the Southwest Gas Foundation’s Month of Giving. More than 30 volunteers helped create 500 care kits for neighbors in need. The Foundation is committing $60K in essential hygiene items throughout Arizona, California and Nevada. Awards & Accolades 2. AZ Big Media recently announced its Top 10 Property Management Companies in Arizona as part of its 2026 edition of Ranking Arizona. They are: Commercial Properties Incorporated, ViaWest Group, Capital Asset Management, Kidder Mathews, NAI Horizon, Ryan Companies US, Metro Communities Properties, Colliers, Vestar and Unified Commercial Property Management (formerly Menlo Group CRE).…

Sales Transactions 1. ARIS MESA LLC, an affiliate of La Costa Capital Partners, purchased Building C at The Cubes at Mesa Gateway, a 1.2MSF Class A industrial building at 7111 S. Crismon Road in Mesa, for $116M. The seller was CRG, the original developer of the 268-acre industrial park. The building was completed in 2023 as a build-to-suit facility for Lowe’s Home Centers LLC. Cushman & Wakefield’s Will Strong, Molly Miller, Jack Stamets, Michael Matchett and Madeline Warren represented CRG and procured the buyer. 2. Four affiliates of Cohen Asset Management recently purchased the 516KSF Elliot Gateway industrial property in…

Following a design revision that reduced the planned height from four stories to three, the Mesa Design Review Board has approved a design review and alternative compliance for a 124-room hotel and commercial projects west of the SWC of Recker Road and Longbow Parkway. AZBEX previously reported on the Longbow Hotel proposal in our March 13 subscriber-only edition. A local news outlet reported the updated plan was reviewed June 9 and affirmed on a vote of 5-0. The original plan called for “a 124-key, four-story hotel and up to 4,100 SF of supporting retail/restaurant and patio (up to 550 SF)…

By LGE Design Build Phoenix’s construction market continued to gain momentum throughout Q2 2026, driven by sharpening Industrial fundamentals, accelerating tenant improvement activity and a tightening supply picture across Retail and Office, even as tariff-driven cost pressures on metals and long-lead electrical equipment require early procurement planning, according to LGE Design Build’s newly released Q2 2026 Construction Delivery Outlook Report. Phoenix Market Demand Through Q2 2026, the Phoenix market continued its disciplined transition toward stabilization. Following a historic wave of deliveries, fundamentals across Industrial, Office and Retail improved as supply decelerated and demand remained steady. Industrial Phoenix’s Industrial market posted…

Groundbreakings 1. The Arizona Department of Transportation began work on June 15 on the Loop 303 Extension, a $613M project in Goodyear that will extend the freeway approximately four miles south from Van Buren Street to Maricopa County 85. Initial corridor clearing began June 15, with construction of a new northbound frontage road scheduled to start this fall. The project is expected to take approximately four years to complete. 2. The Town of Queen Creek has broken ground on the Queen Creek Police Department Headquarters, a $96M facility off Ellsworth Road north of Crewse Lane in Queen Creek. The new…