Author: BEX Staff

Sales Transactions 1. Cushman & Wakefield announced the firm has advised Optima in the acquisition of a 22-acre development site on the SEC of Scottsdale Road and the Loop 101 freeway in Scottsdale. Optima acquired the land from John Lund for $44.75M. Don Arones with Cushman & Wakefield in Phoenix represented the buyer and Marty De Rito of De Rito Partners, Inc. represented the seller.  2. The Varnhagen Family Trust has paid $22.3M for the 49.5KSF Amazon Last Mile Distribution building on 10.74 acres on West Silverlake Road in Tucson. The seller was REM Real Estate. There are seven years…

By Roland Murphy for AZBEX Arizona Housing, Inc. is seeking a rezoning from the City of Phoenix to convert a former hotel property at 2900 E. Van Buren St. into a 66-unit affordable multifamily development. The 1.61-acre site near 30th Street and Van Buren is surrounded by a church, a motel, an auto sales lot, a live adult entertainment venue and vacant land and lies within a mile of the 24th Street / Washington Street / Jefferson Street light rail stations. Consequently, the request falls under the Walkable Urban Code Transect 5:3 District, Transit Gateway Character Area zoning. This portion…

Chandler Unified School District has plans to rebuild two elementary schools, both of which are nearly 60 years old and in need of upgrading. Officials believe rebuilding Galveston and Hartford elementary schools would be less expensive than renovating them to fit modern educational needs. The Board chose Orcutt | Winslow last month as the design firm for Galveston Elementary. The process will include significant staff, community and student input. Orcutt | Winslow’s $1.275M cost will be paid for with money from a 2019 bond. Total project cost is expected to exceed $23.6M. Galveston currently has approximately 600 students, fewer than…

A two-phase, 120KSF Costco Distribution Center planned in the Mesa Elliot Technology Park near Elliot and Ellsworth roads will be the focus of several Mesa review bodies this week. On Jan. 9, Mesa City Council was set to consider a final subdivision plat for 35 acres of the 200-acre park. On the 10th, the project was scheduled for discussion by the Design Review Board, and a site plan review request came before the Planning and Zoning Commission on the 11th. Sunbelt Investment Holdings Inc. is the park owner and intends to sell the 12-acre distribution center site to Costco Wholesale…

The Sedona City Council has authorized the $1.5M purchase of 1.1 acres to be used for workforce affordable housing. The property, located along Shelby Drive, is part of the Sunset Live/Work Community Focus Area Plan, a guideline for future development geared toward housing diversity, walkability and other planning concerns. $810K came from the affordable housing fund, and $690K was moved from the budget for a parking garage that is currently on hold. Mayor Scott Jablow said the transfer will not impact the garage timeline when that project eventually moves forward. The workforce affordable housing site lies next to a recycling…

Groundbreakings 1. Lincoln Property Co held a groundbreaking for the 1.6MSF, six-building Goodyear AirPark Jan. 12. 2. The Opus Group announced the start of construction on Confluence Industrial Park, a 325KSF, two-building speculative industrial development on 21 acres in Casa Grande. Opus is the developer, design-builder, and architect and structural engineer of record on the project, which is expected to deliver in December. 3. Thompson Thrift will begin construction this month on The Maddox—a 252-unit, Class A multifamily development in Buckeye. The project is scheduled to open late next year. 4. A project to improve the driving surface along both directions of the US…

By BEX Staff for AZBEX Representatives of LG Energy Solution have confirmed the company has not yet reached a decision on whether or how to proceed with its planned cylindrical battery production facility in Queen Creek. In response to an inquiry from the Queen Creek Independent, communications officials with LGES said they were still in the process of reviewing the company’s investment and that no new decision has been made. AZBEX was the first outlet to report the story of the development agreement between LGES, the Town of Queen Creek and Pinal County in March 2022. Under the agreement, LGES…

El Dorado Holdings Inc. has bought two parcels in Florence totaling 4,150 acres for a total of $82.7M. The company intends to develop a master-planned community with 12,000 homes and industrial, commercial and retail components. EDH bought the property from Southwest Value Partners and GTIS. Nate Nathan, David Mullard and Casey Christensen of Nathan & Associates, Inc. represented both parties. Estimated development and infrastructure costs for Merrill Ranch are expected to be between $600M and $700M. El Dorado Holdings representatives said the Florence area’s growth as an employment region and the site’s relative proximity to Phoenix-Mesa-Gateway Airport in Mesa contributed…

By BEX Staff for AZBEX Gov. Katie Hobbs has announced Jennifer Toth as her pick to serve as Director of the Department of Transportation. Toth will replace John Halikowski in the role. Halikowski announced his retirement last week. The announcement of Toth as the new ADOT director was part of a press release with four new or ongoing leadership appointments. The Governor’s Office has issued several such announcements leading up to and since Hobb’s swearing in as she goes about filling the various leadership roles in her administration. The release cites Toth’s biography and credentials as: “Jennifer has 25 years…

By Roland Murphy for AZBEX Casa Grande Mayor Craig McFarland informed City Council last week that a hoped for $360M in federal Mega grant monies to partially fund the widening of I-10 between Casa Grande and Chandler was not going to happen. The Arizona Legislature approved $400M for the expansion in 2022. The Mega grant through the Department of Transportation would have provided much of the additional funding needed had it been approved. The project will add one lane in each direction on the freeway and add new interchanges. With the additional grant funding, officials had hoped to be able…