Author: BEX Staff

By Roland Murphy for AZBEX Two standard indicators of construction industry confidence – Associated Builders and Contractors’ Construction Confidence Index and the National Association of Home Builders/Wells Fargo Housing Market Index – both declined in their most recent surveys. While the October ABC CCI showed confidence in future sales increasing, profit margin and staffing predictions declined. All three indicators remain in positive territory, however, with readings greater than the midpoint of 50. CCI sales readings for Oct. 2022 came in at 57.2, up from 55.1 in September. Profit margin confidence fell to 50.4 from 52.5 and staffing dropped to 58.9…

Groundbreakings 1. Overland Group’s Avondale Commons, a 22.6- acre mixed-use development on the NWC of Avondale Blvd. and McDowell Road is set to start construction. The project consists of four luxury apartment buildings, a hotel, two restaurants, four office buildings and several retail shops. The first portion of the four-building, 39.7KSF medical office complex is underway and anticipated to deliver in Q2 2024. 2. IndiCap and AECOM-Canyon Partners held a groundbreaking recently for Eastmark Center of Industry, a 113-acre industrial park in Mesa. At completion, the park will total 10 buildings and more than 1.6MSF. 3. Logistics Property Company disclosed its plans…

Kaplan Multifamily has proposed a 612-unit apartment community with commercial and non-residential uses for a 13.26-acre site near Recker and Williams Field roads in the Cooley Station community of Gilbert. The developer is requesting a General Plan amendment and rezoning to allow two, four-story apartment buildings, 15KSF of commercial space and more than 25KSF of non-residential uses on the ground floors of the two apartment buildings. The apartments in District at Cooley Station would be in two buildings. The non-residential could include retail, a fitness outlet, workspaces and/or an urban grocer. Such uses require a conditional use permit. The retail-commercial…

The Chandler City Council has tabled a vote on data center development restrictions until next month. The proposed ordinance would have imposed several restrictions, including: Prohibiting data center operations in the city unless they were directly approved as part of a planned area development, Notification of residents within a half-mile of planned sites of the intent to build, Requiring a minimum of two developer/owner-led neighborhood meetings, Strict noise mitigations, and Maintenance of a public website announcing operation times for backup power generators if they are to be used. An attorney for Aligned Data Centers contacted the City Attorney’s Office to…

After having been previously withdrawn due to organized resident groups and Scottsdale City Council opposition, two multifamily developments have been revised and have earned Development Review Board recommendations. DRB voted Nov. 3 to recommend Mercado Courtyards (formerly 92 Ironwood) and 94 Hundred Shea (formerly 9400 Shea) for approval by Council and the Planning Commission. Members found the projects meet the City’s neighborhood compatibility and benefit requirements, along with environmental responsiveness and green building requirements. Other acknowledged benefits include increases in shading of adjacent properties and promotion of connectivity and visible open space. Mercado Courtyards Mercado Courtyards is planned for 273…

By Roland Murphy for AZBEX The I-10 entryway to downtown Tucson may get a major skyline update with a planned 17-story multifamily and commercial development scheduled for a courtesy review before the Rio Nuevo Area Design Review Board this week. 471 W. Congress St. is currently an approximately 5.73-acre vacant lot at the SEC of West Congress Street and the South Freeway frontage road in the Rio Nuevo Area of the Downtown Infill Incentive Districts. According to the plan submitted by developer UrbanStreet Group, “This Project is located at a key gateway to downtown Tucson from Interstate 10. The goal…

By BEX Staff for AZBEX Multiple outlets are reporting on a Nov. 11 Arizona Commerce Authority announcement that consumer manufacturing powerhouse Procter & Gamble has announced it will build a $500M manufacturing plant in Coolidge. The 2MSF project will be constructed on 427 acres in Saint Holding’s Inland Port Arizona logistics park. P&G officials said 500 other U.S. sites were considered before the company finally chose Coolidge for what will be only the third domestic plant the company has built since 1971. The projected construction start has been set for late next year, with operations expected to commence by 2025.…

The Pinal Regional Transportation Authority has approved a plan that lets businesses and the state Department of Revenue recover the taxes paid under the overturned Proposition 417 funding measure. The measure authorized an excise tax to fund transportation projects. The Goldwater Institute filed a lawsuit claiming the tax was invalid. After a three-year legal battle, Goldwater’s position was upheld by the Arizona Supreme Court. Tax collections were not halted while the case was making its way through the system. As a result, approximately $87M in taxes were collected. Since the funds were never made available to the RTA, a plan…

Giving Back 1. The 6th annual Big Dig for Kids event presented by Sundt Construction benefitting Phoenix Children’s took place Nov. 5. The event raised more than $750K to support the new MIBG target therapy program used to kill cancer cells in children. There were more than 2,300 attendees, including 300 Phoenix Children’s patients. More than 300 volunteers and 91 sponsoring companies participated. New Hires 2. Brian Moore has joined W.E. O’Neil Construction as Senior Project Manager. 3. Davis Commercial AZ has announced two new hires. Joining the firm are Associate Broker David Roberson and Business Development Specialist Cathy Maloney.…

Sales Transactions 1. The Pavilions – a 10.4-acre, 129.7KSF retail center at the SEC of Dobson and Guadalupe roads in Mesa – has been sold to Pavilion Jasleen LLC and Pavilions Banwait LLC for $22M. Seller West Valley Properties was represented by Phoenix Commercial Advisors’ Danny Gardiner and Chad Tiedeman. 2. Cushman & Wakefield | PICOR announced the firm has brokered the sale of Black Canyon Commerce Center – Building A, a 62.8KSF multi-tenant office building in Phoenix. The property was acquired by Evergreen Associates, LLC for $11.2M. Eric Wichterman and Mike Coover with Cushman & Wakefield’s Private Capital represented…