Author: BEX Staff

By Roland Murphy for AZBEX After years of wild vacillation, the cumulative U.S. Multifamily market is showing signs of moving toward stabilization. Individual markets, however, all have their own stories to tell. Colliers’ Q1 2026 United States Multifamily report calls the current circumstances, “A rebalancing phase,” after a “recalibration period” to end 2025. At year’s end, the sector was still dealing with higher-than-normal deliveries and the resulting slowing of rent growth. The report finds conditions started to become more balanced over Q1 of this year. Due to ongoing affordability constraints in the for-sale housing market, demand in Multifamily remains high,…

By BEX Staff for AZBEX The Lake Havasu City Planning and Zoning Commission is scheduled to hear a planned development overlay request this week that could allow for the development of a 68-unit townhome community at the SWC of Swanson and Smoketree avenues. The vacant property is bounded to the south by Magnolia Drive. According to submitted materials and a local news report, the current zoning of Residential and Commercial Health District would allow for the project’s development, as it meets the density and height requirements. Owner Paradyme Companies, however, is requesting a planned development overlay to allow the removal…

The U.S. Department of Housing and Urban Development has published an interim rule and removed a final review layer in the hopes of speeding up the approval process for large housing developments that receive federal support. The change eliminates a previous requirement that developers of housing projects with more than 200 units or a mortgage of more than $5M obtain a final approval from HUD environmental clearance officers before moving ahead on a project. The rule is planned to take effect June 22, though public comment is open through July 21. HUD officials said the existing rule unnecessarily adds processing…

Giving Back 1. More than 200 people from Arizona’s commercial real estate, construction, property management and facilities industries attended the sold-out “Bowling for Bailey” fundraiser at Lucky Strike in Scottsdale to support Ryan Bailey, who is battling stage 4 colon cancer with liver metastasis. The event was organized by a committee including Abby Vallelonga of EHS Restoration, Brianna Parette of EVO Construction Group, Mai Vu of Elevate Commercial Real Estate, Michael Scott of Weems Asphalt, Sarah Temple of Upland Group, Ginger Morton of Ghaster Painting, Tiffany Pennington of Encore Landscape Management and Tom Pritscher of TEPCON Construction. 2. Mark-Taylor Residential…

Sales Transactions 1. Cogent Communications Holdings Inc. agreed to sell 10 data centers across nine U.S. cities, including a Phoenix facility at 1530 E. Roeser Road, for $225M to a new entity sponsored by I Squared Capital. I Squared plans to use the acquisition to launch a new U.S. data center operating platform focused on colocation, high-density deployments and AI inference infrastructure. 2. Domain 3201in Tucson recently sold for $45.5M. Domain 3201 I CG, LLC sold the 289-unit multifamily property to The Bascom Group in an off-market transaction. Institutional Property Advisors’ Hamid Panahi, Clint Wadlund, Steve Gebing and Cliff David…

By Roland Murphy for AZBEX The Surprise City Council has given its blessing to a requested rezoning that will change nearly 10 acres at the SEC of 163rd Avenue and the Dynamite Blvd. alignment for development of a Pure Heart Church campus. The overall campus is planned to cover 41.25 acres and will be built in phases. Phase I, which will be built on roughly 15 acres in the southern portion of the site, will feature an assembly chapel, classroom space, a gymnasium, outdoor meditation and reflection areas, an amphitheater, courtyards and plazas. These components are allowed under the site’s…

By Rebekah Morris for AZBEX The saying “Garbage In, Garbage Out,” has been around a long time now. That sentiment applies as we explore how good or bad data will amplify your business operations, especially using AI. AI has been promising powerful gains in efficiency, analysis and business outcomes since at least late 2024. Although A/E/C firms are notoriously slow to adopt new technology, we are seeing new applications pop up more and more in our industry. From accounting to marketing & business development to operations, AI is either creeping in or exploding all around us. When planned and executed…

By Roland Murphy for AZBEX Following the recommendations of the Planning and Zoning Commission, the Kingman City Council recently approved a set of requests that will lead to the commercial development of a 155-acre section of the 462-acre Hualapai’s Edge master-planned community at the NEC of Louise Avenue and Flying Fortress Parkway. The overall project site for Hualapai’s Edge is nearly 462 acres and extends to Louise Avenue and Interstate 40. The requests from owner RSF Partners, LLC, however, dealt with only 155.22 acres and sought a rezoning to C-3 (Commercial Services Business) from a mix of single-family residential, commercial…

Groundbreakings 1. Prime Data Centers broke ground on the first phase of its $3B, 1.3MSF PHX01data center campus on 66.5 acres in Avondale. The first phase includes three of the five planned 267KSF buildings at the 240-megawatt hyperscale development. The campus will be powered by an on-site 250-megawatt substation and is designed for artificial intelligence and high-performance computing workloads. 2. Empire Group of Companies, through Aspirant Development, recently broke ground on The Whitney, a $170M, 24-story apartment tower. The 328-unit project, with more than 22KSF of ground-floor retail space, is at the SWC of Central Avenue and McDowell Road in…

By Roland Murphy for AZBEX Employment in the Arizona Construction sector fell by 800 jobs in the month of April, contributing to a drop of 3,100 year-over-year, according to the latest report published by the Arizona Office of Economic Opportunity. The state’s seasonally adjusted unemployment rate remained at 4.7%, unchanged from March. The national unemployment rate also maintained its March rate, holding steady at 4.3%. In April 2025, Arizona had a seasonally adjusted rate of 4.2%. The national rate was also 4.2%. Month over month, Arizona not-seasonally adjusted total nonfarm employment increased by 16,300 jobs, or 0.5%. Year over year,…