Author: BEX Staff

Giving Back 1. Last year, about 6,000 volunteers picked up 12,500 bags of trash from along Arizona’s highways. The equivalent dollar amount associated with this volunteer effort is about $628,785. Considering that — that’s a lot of dollars that could be used to dispose of trash properly. As we celebrate National Volunteer Week Director Toth and ADOT wants to thank these dedicated volunteers who spend personal time and resources year-round helping keep our highways clear of litter. 2. Evolve Ventures recently held a panel discussion, Modern Networking: Using Your Personal Interests to Build Relationships and Seal Deals. The event was held at…

Sales Transactions 1. Scottsdale-based Rise48 Equity paid $42M for its latest acquisition at 2015 W. Cactus Road in Phoenix. Plans call for investing an additional $5M into the 186-unit Springs Apartments according to a quote by Zach Haptonstall, CEO of Rise48 Equity. It will be rebranded to Rise Desert Cove.  2. Flagstaff Shelter Services has purchased a Motel 6 in Flagstaff for $8.95M to provide transitional housing to the unsheltered population. The facility is dubbed ‘The Lantern’ in a nod to the Motel 6 slogan ‘We’ll leave a light on for you’.  3. The State of Arizona has purchased an office property located…

By Cushman & Wakefield Stockdale Capital Partners is committing more than $20M on a major renovation plan to finish converting Ilume Innovation Center in Scottsdale to be a fully lab-enabled life science facility. The renovation will also include several move-in-ready wet lab suites, and upgraded tenant amenities including a fitness center, 110-person capacity auditorium, meeting space, tenant lounge, and 1.5-acre rooftop garden. Ilume is a versatile 370KSF Class A, LEED-certified building able to serve life sciences, medical and office tenants. The building was originally designed by famed architect Will Bruder and served as the former Henkel North American headquarters. In…

By BEX Staff for AZBEX The Casa Grande City Council is considering a request to amend the Mission Ranch II Planned Area Development at Peart and Rodeo roads to allow for a 183-unit multifamily development on approximately 16 acres. The current designation calls for office and commercial uses. Owner Rodeo/Peart LLC/Mission Ranch II Investments, LLC plans to build a gated townhome community at the location. Planned amenities include open space, a trail system and bike paths. The Planning and Zoning Commission unanimously recommended approval of the request in its March meeting, as did planning staff in its report to City…

By Roland Murphy for AZBEX Nearly 120 people descended on SkySong this week for BEX Companies’ April Leading Market Series event. The session’s theme was “Upcoming Public Works Projects.” Sundt served as the event sponsor. After a brief introduction from BEX Founder and President Rebekah Morris, the panel of leading public works officials wasted no time diving into their current project lists, along with some spirited discussion on the state of the public project market, challenges and potential solutions. The panel was comprised of: Moderator Jeff Hamilton—VP of Transportation & SW Region Business Development Manager, Sundt; Lance Webb—Assistant City Engineer,…

By Roland Murphy for AZBEX The Casa Grande City Planning and Zoning Commission will hold a first hearing this week to consider a request from IndiCap for a major General Plan amendment that would be the first step in developing Nexus Industrial—a 317.78-acre light industrial park near the NEC of Cottonwood Lane and Henness Road. IndiCap wants the current General Plan category of Neighborhoods on 162.54 acres at the site changed to Commerce and Business to match the rest of the site and allow development under the same category for the entire site. If the amendment is approved, the project…

The City of Phoenix passed a prevailing wage rule last month that requires construction companies working on City projects of $250K or more to pay employees wages comparable to regional skilled labor wages. The rule was added to the City Council agenda one day before the March 22 vote and was amended during the meeting before it passed on a 5-4 margin. Both the Phoenix Chamber of Commerce and the Goldwater Institute have come out against the new rule and urged its repeal. Phoenix Mayor Kate Gallego opposed the measure and voted against it. A Gallego spokesperson said Council will…

By Roland Murphy for AZBEX As we noted in our front-page article on public works projects, rising construction costs are impacting the ability of cities around Arizona and the nation to deliver projects, particularly those funded under voter-approved bond requests. Two news stories this week highlighted the challenges Chandler and Scottsdale are experiencing. Chandler An April 16 article from the Chandler Arizonan showcased several projects jeopardized by construction cost increases referred to as “soaring.” Estimates for a new police department forensics facility have jumped from an initial projection of $30M to a current estimate of $50M. A multigenerational facility at…

Groundbreakings 1. Close on the heels of its 250KSF “Building 109” groundbreaking, SkyBridge Arizona has started construction on a second 250KSF building, “Building 108.” Together, the buildings bring the active Class A industrial construction at SkyBridge Arizona to a half-million square feet. SkyBridge Arizona is slated to become a first-of-its-kind Unified Cargo Processing facility, allowing users to complete on-site cargo inspections and processing so that shipments between the U.S. and Mexico can be expedited directly to their destinations in Mexico. Graycor is the general contractor. Leasing is through CBRE.  2. Dermody Properties announced a groundbreaking for Phase I of LogistiCenter…

Planners recently presented details to the Maricopa Planning and Zoning Commission for Civic Center Park, a large sports field-centered plan to replace fields being removed from Copper Sky Park to accommodate another project. The 55-acre park will be built in two phases on a site east of the NEC of West Bowlin and North White and Parker roads. The first phase will have three softball and one baseball field. The second will have two softball fields and a 2.5-acre lake. Both sections will have a plaza with concessions stands and bathrooms. The City will reuse as much material as possible…