Author: BEX Staff

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…

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…