Author: BEX Staff

Rockefeller Group has purchased the 25-acre development site for Surprise Pointe Commerce Center, a planned 415KSF speculative warehouse/distribution center in Surprise. Company officials say the project will target tenants in the ecommerce, manufacturing and semiconductor supply industries. The project is being designed by Ware Malcomb. Hunter Engineering serves as the civil engineer. Layton Construction is the general contractor. Rockefeller Group was represented in the transaction by CBRE’s Cooper Fratt and Cushman & Wakefield’s Kirk Kuller. The two will also manage marketing and leasing for the project. (Source)

By Roland Murphy for AZBEX Greenlight Communities wants to build 190 new workforce attainable apartments on 7.64 gross acres at the SWC of 87th and Peoria avenues. The proposed site for Streamliner Peoria is currently zoned Planned Area Development and was originally planned for three-story residential townhomes and residential lofts over ground-floor retail. The submitted narrative says, “However, this challenging, vacant, and underutilized infill Site has failed to develop as proposed and is unlikely to develop because there is no current market demand for this model. A more appropriate use for the Site is a mixed-use development consisting of a…

A group of local business leaders was recently presented with an overview of Atlas Global Development’s master plan to redevelop Winslow into a regional hub for rail, air and manufacturing and logistics along Interstate 40. AGD’s Dan Lupien told attendees at the April Good Morning Winslow networking event that the initial phase could begin later this year. The first component would feature housing for the workers needed to serve the manufacturing companies the plan hopes to attract. The AGD plan would require augmentation of all the town’s public and private services, including a new power generation plant and a new…

By Associated Builders and Contractors Construction input prices increased 0.2% in March, according to an Associated Builders and Contractors analysis of U.S. Bureau of Labor Statistics Producer Price Index data. Nonresidential construction input prices rose 0.4% for the month. Overall construction input prices are 0.9% lower than in March 2022, while nonresidential construction input prices have fallen 0.6% over the past year. Construction input prices are now up 39.0% since February 2020, the month before the COVID-19 pandemic began. “Construction input costs are down on a year-over-year basis for the first time since August 2020,” said ABC Chief Economist Anirban…

Giving Back 1. Arizona Brycon employees joined Feed My Starving Children for a day of giving back to the community. The group was part of a session that packaged 115 boxes (each with 36 meal kits), totaling 24,840 meals. In all, Brycon’s effort will be able to help feed 68 kids for an entire year. Awards & Accolades 2. AZ Big Media has released the Ranking Arizona lists of Top 10 Brokerages in Arizona. The lists consist of two divisions, based on firm size. 28 Brokers or More: Colliers CBRE NAI Horizon ORION Investment Real Estate Commercial Properties Inc. LevRose…

Sales Transactions 1. Southwest Value Partners of San Diego has paid $112M for the 575-room, 306-acre JW Marriott Starr Pass Resort & Spa in Tucson. The seller was Fortress Investment Group. 2. A joint venture between ITEC Financial Inc., South Coast Properties Investments LLC and InfoTech Analytics has paid $30M for Southern Sunset Plaza on South Country Club Drive in Mesa. The seller was IntouchCX (formerly 24-7 Intouch), a tenant in the building that also occupies more than half the 200KSF space. The sale was brokered by Mindy Korth and JK Jackson with Colliers International. 3. An industrial warehouse distribution…

The City of Phoenix plans to add a multibillion-dollar direct potable reuse project into the 91st Avenue Wastewater Treatment Plant that will be able to purify 60 million gallons of water per day. The project, which Phoenix hopes to deliver by 2030, will add a major new drinking water supply to Phoenix and partner cities at a time when supplies from the Colorado River are shrinking and subject to allocation reductions. Purified water from the reuse project will supply enough water annually for approximately 200,000 homes. Without purification, the water would be discharged into the Salt River. The Colorado River…

By BEX Staff for AZBEX The Fairmont Scottsdale Princess Resort is planning a major expansion that will add new meeting space, guest rooms and a 1,000-space parking structure. In the proposals submitted to the City of Scottsdale, the resort wants to add 9KSF of meeting rooms and a new one-story conference building with a 25KSF ballroom. On the SEC of Cottage Terrace Lane and Hacienda Way, the plan will add a new four-story building with 155 guest rooms, expanding the resort’s total room count to 949. The new guest wing will also include 57 underground parking spaces. At the SEC…

By Associated Builders and Contractors Associated Builders and Contractors reported that its Construction Backlog Indicator declined to 8.7 months in March, according to an ABC member survey conducted March 20 to April 3. The reading is 0.4 months higher than in March 2022. Backlog slipped in March and is now at its lowest level since August 2022. Backlog is down on a monthly basis in every region except for the South, which continues to be associated with elevated levels of current and future construction activity. ABC’s Construction Confidence Index reading for sales inched higher in March, while the readings for…

By Roland Murphy for AZBEX While the Arizona and national construction environments are still far from being able to say, “All is well,” Rider Levett Bucknall’s latest North America Quarterly Construction Cost Report and Q1 Crane Index both indicate a sense of cautious optimism for calm that may not be misplaced. Quarterly Construction Costs RLB cites U.S. Department of Commerce data to report $1.826T of construction was put in place in January 2023. This represents a decrease of 0.1% from December 2022, but a 5.7% increase from January 2022. Nationally, the average increase in construction cost was 8.11%. The largest…