Author: BEX Staff

By Roland Murphy for AZBEX As attendees to last week’s BEX Leading Market Series event and readers of AZBEX’s front-page coverage saw, major Arizona healthcare companies are facing challenges when it comes to balancing new facilities development with current market conditions. (AZBEX, March 10) Despite the difficulties of a problematic capital market, timing current demand with future needs and predicting the best location to most efficiently serve the maximum number of patients, those providers are still moving ahead with near-, medium- and long-term plans to ensure both service and revenue levels on an ongoing basis. To that end, this week…

A lack of market demand has led to a reduction in the amount of office space proposed for Goodyear Celebration Plaza, a 70-acre mixed-use master plan near I-10 and Litchfield Road in Goodyear. In a presentation to the Goodyear Planning and Zoning Commission on behalf of owner ICIC Property Investment 5 LLC, attorney Jeff Blilie of Bues Gilbert McGroder explained an economic analysis of the proposal by consulting firm Elliott D. Pollack & Co. determined the planned office space far exceeded the regional demand. The master plan calls for office, residential and retail uses. The developer is asking for an…

By Associated Builders and Contractors The construction industry added 24,000 jobs on net in February, according to an Associated Builders and Contractors analysis of data released by the U.S. Bureau of Labor Statistics. On a year-over-year basis, industry employment has risen by 249,000 jobs, an increase of 3.2%. Nonresidential construction employment increased by 11,600 positions, with growth registered in all three subcategories. Heavy and civil engineering added 7,700 net new jobs, while nonresidential specialty trade added 2,200 positions. The number of nonresidential building jobs increased by 1,700. The construction unemployment rate fell to 6.6% in February, down from 6.9% in…

Awards & Accolades 1. NAIOP Arizona has named three recipients of the annual NAIOP and Prologis Inclusion in CRE Scholarship for Women and Underrepresented Professionals. They are:  Jade Nunes, Regional Manager of Business Development, Cuhaci Peterson; Emeka Ukaga, Architectural + Structural Designer II, Michael Baker International; and Serena Wedlich, VP, CBRE. 2. The Arizona Association for Economic Development honored three legislators at the Wesley Bolin Plaza at the Arizona State Capitol for their commitment and support in growing Arizona’s economy at the annual Lunch on the Lawn that recognizes the organization’s Economic Development Champions. This year’s honorees were Sen. Frank…

Sales Transactions 1. Hamilton Zanze has paid $90.3M for the 296-unit Springs at Deer Valley multifamily development on North 23rd Avenue in Phoenix. The apartment community will be rebranded as Ironwood at Happy Valley. In addition to the rebranding, Hamilton Zanze will undertake an improvement campaign for the buildings, amenities and green space. The company’s Mission Rock Residential affiliate will take on the property management duties. Walker & Dunlop’s Dan Woodward, David Potarf, Matt Barnett and Jake Young marketed the property.  2. Legacy 76 LLC has paid $28.07M for 20.558 acres at the NWC of Miller Road and Legacy Blvd.…

By Roland Murphy for AZBEX A plan from Kimco Realty could deliver 760 new multifamily units and permanently transform the area around Christown Spectrum Mall in north central Phoenix. Kimco has a request before the City of Phoenix to rezone 12.15 acres at the NWC of 15th and Montebello avenues from Planned Shopping Center, Interim-Transit Oriented Zoning Overlay District One to Walkable Urban Code, Transect 5:5 District, Transit Solano Character Area for the project. The location is currently occupied by a surface parking lot and a vacant 5.2KSF former Costco Auto Center that will be demolished if the project goes…

The planned 45KSF Pinal County Elections and Early Voting Building took a step forward recently when the Board of Supervisors approved a budget amendment totaling more than $32M for the project’s design and construction. Funding comes from a variety of sources, including the County General Fund ($19M-plus), the American Rescue Plan Act ($10M) and federal Local Assistance and Tribal Consistency monies ($3M). In addition to housing the County Elections Department, the building will also have space for early voting and voter registration. (Source)

By Roland Murphy for AZBEX Depending on their orientation, attendees of this week’s BEX Leading Market Series panel on Healthcare could have heard pragmatic optimism or optimistic pragmatism. Speaking to a standing-room-only crowd at SkySong, the panel was made up of: Mark Barkenbush, VP at Banner Health, Steve Eiss, VP of Construction and Real Estate for Northern Arizona Healthcare, Russ Korcuska, Senior VP of Construction & Special Projects for Phoenix Children’s Hospital, and Edward Willard, Director of Business Development and Strategic Planning at Dignity Health. The group was moderated by Kitchell VP of Preconstruction Julie Garcia. The Current Projects Garcia…

By BEX Staff for AZBEX HSL Properties has bought a nearly 51-acre site entitled for 378 Build-to-Rent lots at the SWC of Tangerine and Thornydale roads in Marana. Seller H2T Partners LLC had previously requested a rezoning from Residential to Specific Plan for the property, along with a Marana General Land Use Plan amendment from Commercial to Master Plan Area. The Marana Town Council approved the request last September. The $9.45M sale was managed by Kit Donley with Donley Commercial Real Estate. HSL is known for developing luxury apartment communities and has multiple projects under its Encantada brand around the…

By The National Center for Construction Education & Research In anticipation of Women in Construction Week, the National Center for Construction Education & Research conducted interviews with 176 tradeswomen and analyzed 770 responses to a survey directed to women in the industry. The results have been compiled into a white paper, “In Her Own Words: Improving Project Outcomes,” which will assist employers with recruiting, hiring and retaining women in craft positions. NCCER’s goal was to go beyond the numbers and statistics that are typically presented in research about women in construction. The white paper highlights the unique benefits women bring…