Author: BEX Staff

Sales Transactions 1. JLL subsidiary LaSalle Investment Management has paid $70M for Mountain Park, a 240-unit multifamily community on 12.5 acres at 4221 E. Ray Road in Phoenix. IPA’s Cliff David and Steve Gebing represented seller Sares Regis Multifamily and procured the buyer.  2. A 4.5KSF Super Star Car Wash on West Hunt Highway in San Tan Valley sold for $6.14M. The seller, a limited liability company, was represented by Zack House, Mark Ruble and Chris Lind of Marcus & Millichap.   3. A 46.7KSF building on 4.52 acres in the Median Business Park II development in Tucson will be repurposed…

The Mesa Design Review Board discussed the design and landscaping for a planned 80-unit townhome development known as Pi planned for four acres at 4140 E. Main Street. The site is currently zoned limited commercial. Owner Dolly Varden LLC and applicant Atmosphere Architects are requesting rezoning to multiple residences. The Japanese minimalist-inspired design calls for 12 two-story, three-bedroom units and 68 three-story, three-bedroom units. All units will have attached two-car garages. The project narrative says the development is targeted to young families, working professionals and others who want the feeling of a single-family home without the associated yard maintenance and…

By Salt River Project As Phoenix and Maricopa County lead the nation in population growth and economic development, SRP continues to experience significant increases in customer electricity demand. Meeting this growth with adequate power supply is now met with new challenges which include supply chain issues, planned coal retirements, and decreased hydroelectric generation from the drought-stricken Colorado River. To help meet projected demand and ensure SRP can maintain reliable electric service for customers beginning in summer 2026, SRP is issuing an All-Source Request for Proposals to seek additional power resources that can provide at least 200MW during the summer peak…

The Tempe City Council will consider a measure this week to allocate $1.2M toward studying extending its streetcar transit service into Mesa. If approved, Mesa will spend $800K and the two will join with Valley Metro, which will actually perform the study. The plan under consideration would extend the Tempe Streetcar route along Dobson Road and Rio Salado Parkway. Mesa officials view the addition as a powerful economic development opportunity and say it meets a significant transit need on the west side of the city. The study and public outreach effort will look at the feasibility of the extension and…

By Roland Murphy for AZBEX IDM Companies is planning a 121-unit Build-to-Rent development on 12.73 acres at the SWC of 51st Avenue and Elliot Road in the Laveen area of Phoenix. The plan for Curato Laveen features 42 one-bedroom duplex units and 79 two-bedroom units. A total of 225 parking spaces will be provided, although only 182 would be required under the zoning. Project representatives are requesting a rezoning from the current mix of suburban ranch, single-family and planned community to commercial neighborhood retail. The surrounding uses are all single-family residential or vacant land. Under the C-1 Neighborhood Retail zoning,…

The Surprise Planning and Zoning Commission has approved the site plan for another industrial project in the Surprise Pointe Planned Area Development. In this case, the project is a 414.5KSF building from Iconic Equities on 24.95 acres west of the SWC of Dysart Road and Sweetwater Avenue. Surprise approved the PAD in 2006 and a master plan for the overall Surprise Pointe area last November. With those approvals in place, Iconic Equities’ project will not require any further action from Council now that Planning and Zoning has approved the site plan, which calls for approximately 352.4KSF of warehouse space and…

By Town of Queen Creek The Town of Queen Creek has a variety of land available to develop—including utility-served industrial sites—and learning more about the sites just got easier. Queen Creek recently launched an interactive map with industrial property for sale and lease. The economic development tool helps site selectors, industrial developers and prospective businesses easily find sites that fit their needs and projected timelines. “Queen Creek is strategically located with land available for development,” stated Queen Creek Economic Development Director Doreen Cott. “With a growing community and highly educated workforce, Queen Creek is an excellent place for employers to…

By Associated Builders and Contractors National nonresidential construction spending increased by 0.3% in January, according to an Associated Builders and Contractors analysis of data published by the U.S. Census Bureau. On a seasonally adjusted annualized basis, nonresidential spending totaled $968.7B for the month. Spending was down on a monthly basis in seven of the 16 nonresidential subcategories. Private nonresidential spending was up 0.9%, while public nonresidential construction spending was down 0.6% in January. “Nonresidential construction spending inched higher to start the year and is just below the all-time high established in November,” said ABC Chief Economist Anirban Basu. “On a…

Groundbreakings 1. Findlay Motor Company in Bullhead City recently held a groundbreaking for a 17KSF expansion of its location on Laughlin View Drive. The warehouse facility will feature 12 service stalls, a second floor mezzanine, electric vehicle charging stations, a car wash, and 4.5KSF of parts storage.  Progress Reports 2. After officially breaking ground on the brand new 673KSF, 10-story Valleywise Health Medical Center on Feb. 26, 2020, the public teaching health system is proud to announce the countdown to the grand opening in October. Constructed by Kitchell, the building is 75% complete and on budget. The exteriors and infrastructure…

By BEX Staff for AZBEX Bluestem Partners will build a new 729KSF speculative industrial park on nearly 50 acres in Casa Grande. The Casa Grande Planning and Zoning Commission approved a major site plan for Bluestem Crossroads Industrial Park last November. According to the project description, “The project includes a new 728,974SF, Class-A cross-dock industrial facility on approximately 49-acres west of the intersection of W. Peters Road and S. Florence Boulevard in Casa Grande. The proposed building includes four drive-in doors, 68 dock doors with room for 52 future dock doors.” Bluestem has selected EPS Group, Inc. as the project…