Author: BEX Staff

Awards & Accolades 1. National publication Insurance Journal named INSURICA the Best Independent Agency to Work For in America following their annual survey of employees. The publication revealed the honor in their October 2022 issue. More than 3,500 customer service representatives responded to their survey. While INSURICA regularly appears on IJ’s list of vote getters, 2022 was the first time the agency appeared at the top of the list. Boards & Commissions 2. James P. Robertson of Realty Executives Arizona Territory in Tucson has been elected to serve on the 2023-2025 Certified Commercial Investment Member Institutes Board of Directors, 2023…

Sales Transactions 1. ViaWest Group has completed the sale of Central Logistics Center, a 24.9-acre industrial complex housing three Class A general industrial buildings and a cold storage building. Cushman & Wakefield’s Will Strong and Greer Oliver – along with Cooper Fratt, John Werstler and Tanner Ferrandi of CBRE – represented ViaWest Group in the sale to Westcore. 2. Tower 16 Capital Partners has sold the 258-unit Sierra Vista and 201-unit La Mirada Apartments multifamily communities in Tucson for $65.15M to an undisclosed buyer. Tower 16 bought the properties approximately two years ago for $36M and invested $4.9M in renovations…

By Roland Murphy for AZBEX A new mixed-residential and commercial master plan could soon come to Pinal County if a proposal by El Dorado Holdings is allowed to proceed. El Dorado Holdings is the company behind several major planned and in-process developments around the state. Their projects include the REV-branded Build-to-Rent communities in San Tan Valley, Queen Creek and Maricopa, and they are co-developers of the Douglas Ranch and Trillium Village master plans in Buckeye. Requests filed with the Pinal County Planning and Zoning Commission on behalf of Langley AZ Farms 150 LLC and El Dorado affiliate El Dorado Arizona…

Sparrow SFG – a 110-unit rental community on 11 acres near Ironwood and Ocotillo roads – has been approved by the Queen Creek Town Council. Homes in the development will be either one or two stories configured as either standalone units or duplexes, all with porches and private backyard areas. Amberlin Queen Creek, a 199-unit senior housing development also by Sparrow Partners, is located just to the west of the newly planned development. The new rental community will have two basic designs and 11 different building types ranging from one-bedroom to four-bedrooms. (Source)

Despite an ongoing drive to attract employers and a housing shortage causing some of the highest rents and home prices in the state, the Queen Creek Town Council directed staff last week to draft a General Plan amendment that would relegate multifamily development to areas in or near employment or commercial zones. Officials said allowing multifamily in Neighborhood-zoned areas does not reflect the Town founders’ vision for the community and would be detrimental to the town’s character. Median prices for single-family homes in Queen Creek are $600K, according to analysts, and two-bedroom apartments average $2,500 per month. The town has…

An investors conference call by bond trustee UMB Bank provided new details on Legacy Cares, Inc. (Legacy Sports, LLC)’s default at Bell Bank Park in Mesa. The project is now officially in default, with bond payments not made and contractors not having received payment. UMB representative Michael Slade said the project has never brought in sufficient revenues to cover payments since the project was completed and opened. The site is owned by Pacific Proving LLC, leased by non-profit Legacy Cares and operated by for-profit Legacy Sports. The project was losing, on average, $800K per month, according to Legacy Sports USA…

Awards & Accolades 1. The Arizona Chapter of the American Society of Landscape Architects had their awards gala recently and provided numerous awards for Arizona projects. The Project Awards and recipients were: Granite Mountain & Fraesfield Trailheads – Honor Award: SmithGroup;Roadrunner – Honor Award: Collaborative V Design Studio;Biodesign Institute at ASU Building C – Honor Award: Trueform Landscape Architecture;Arcadia Neighborhood Learning Center – Award of Excellence: Colwell Shelor;Sznewajs Residence – Honor Award: Collaborative V Design Studio;Fez Way Residence – Award of Excellence: The Green Room Collaborative;Casa Blanca Retreat – Honor Award: The Green Room Collaborative;Edison Eastlake Community Master Plan – Award…

Two apartment projects won recommendations for approval, and another was sent back to the drawing board, at the Scottsdale Design Review Board’s Oct. 6 meeting. Chaparral Commons The first plan recommended for approval was the 225-unit Chaparral Commons – also known as Gold Dust Ave & Scottsdale Rd Multifamily – which also includes 11.4KSF of commercial space on 4.6 acres near the intersection of Scottsdale Road and Gold Dust Avenue. Three amendment requests have been added to the plan since it was originally proposed. In the first, the building would be set back more than the minimum, which will be…

By BEX Staff for AZBEX The Buckeye City Council voted unanimously to approve an annexation and rezoning request for a 226.88-acre site west of SR 85 between Baseline Road and Southern Avenue. The site is currently in an unincorporated Maricopa County island. The land is undeveloped and used for agriculture, according to the project narrative. Property owners Desert Sonora Company and Dinan Holdings LLLP, along with developer Eisenberg Company, sought to have the land rezoned from rural single-family residential to light industrial, in accordance with the Buckeye 2040 General Plan. The General Plan designates the site for Employment uses. Known…

By Gulfstream Aerospace Corp. Gulfstream Aerospace Corp. has announced the addition of new hangar space adjacent to Gulfstream Customer Support’s all-new Mesa service center, which continues to progress toward completion next year at Phoenix-Mesa Gateway Airport. The new hangar is located at the SkyBridge development at the airport and augments hangar space Gulfstream established at the facility in March. Gulfstream Customer Support announced the new Mesa facility in November 2021 and broke ground last May. The new 225KSF service center comprises a more than $100M investment and will significantly expand Gulfstream’s Maintenance, Repair and Overhaul capabilities in the Western United…