Author: BEX Staff

A new master-planned community is taking shape in Marana. Bela Flor Communities recently spent $4.25M to add 113 acres to its Mandarina master plan, which now totals 455 acres. Mandarina Phase I is planned as a 342-acre mixed-use development at the I-10/Union Pacific Railroad Corridor and Tangerine Road. There is a planned mix of single-family – both attached and detached – and multifamily with a combined total of 2,500 units. The project will also feature a commercial and hospitality mix of retail, hotel and other uses. Representatives say 1,500 single-family lots are already committed or in escrow. The newly purchased…

By BEX Staff for AZBEX A recent report from REIT.com shows commercial real estate market fundamentals remain strong even in the face of ongoing economic uncertainty. The report looked at the issues of construction volumes, absorption/deliveries, vacancy rates and rental growth in Apartments, Industrial, Office and Retail. The following is a snapshot of the findings. Apartments Apartment construction as a percentage of existing stock remained close to its peak level of 4.6%. The current pace is almost double the average in the year leading up to the Great Recession. Q2 marked the third consecutive quarter in which net deliveries outpaced…

Awards & Accolades 1. PriceMyAC.com announced longstanding community activist and passionate volunteer Julie Armstrong is the recipient of the August 2022 “Making the World a Cooler Place” award. PriceMyAC.com launched the awards at the beginning of the summer 2022 to honor ordinary citizens who humbly and quietly make impact through community service, volunteering and philanthropy. Giving Back 2. As part of EPS Group’s 19th Anniversary, the company chose the Human Services Annual ThirstAid Campaign as their philanthropic partner. Donations from clients, partners, associates and a corporate match provided 93,650 bottles of water to help people experiencing homelessness in Arizona stay hydrated.…

Sales Transactions 1. Three Arizona office properties totaling nearly 465KSF were part of a recent $1.13B, 53-property, multistate portfolio sale by Griffin Realty Trust to Workplace Property Trust. The Arizona assets were: The Cigna Campus, Phoenix, 232.6KSF;Northgate Corporate Center, Phoenix, 131.9KSF, and3535 E. Valencia Road, Tucson, 100KSF. 2. The William Corrigan Family was recently a party in two RV resort and manufactured home transactions. Corrigan purchased the 1,230-space Sun Vista Resort in Yuma for $80M from Sun Vista GP. It also sold the 180-space Pueblo Manor in Apache Junction to Silver King Companies for $35M. The buyers and sellers in…

The Casa Grande Planning and Zoning Commission will hear a proposal for a potential 591-acre residential and commercial development on Thursday. The proposed mixed-use development is located on an approximately 1-square mile site known as Casa Grande Commons. The site is situated north of the Promenade at Casa Grande and is bound by the I-10, Mission Parkway, Hacienda Road, Kortsen Road and Florence Boulevard. ABLA, acting on behalf of the real estate company Walton, has requested a minor general plan amendment and a major amendment to the Casa Grande Commons Planned Area Development. According to Casa Grande planning staff, the…

A $10M expansion project is in the planning stage for Copper Queen Community Hospital in Bisbee. The project will expand the hospital’s surgical department allowing for increased services to be provided to the residents of Southern Arizona. According to Copper Queen officials, the hospital’s current size limits the services offered due to space constraints. The added space will allow the hospital to increase the number of surgeons as well as expand upon existing specialties within the hospital. Some of the new services the hospital is looking forward to offering include joint replacements in orthopedics and adding an adjoining endoscopy unit…

On Tuesday, Commerce Secretary Gina Raimondo and Arizona Senator Mark Kelly formally announced the award of $105.8M to five Arizona tribes to fund high-speed internet connections on tribal lands. The funds will come from the U.S. Department of Commerce through the Internet for All Initiative. The money is expected to fund projects through the following five agencies: Tribal Broadband Connectivity Program for Hopi Telecommunications, Inc.Navajo Tribal Utility AuthorityThe Pascua Yaqui Tribe of ArizonaSan Carlos Apache Tribal Council/Triplet Mountain Communications, Inc.The White Mountain Apache Tribe As a result of this initiative, more than 33.3K homes are expected to receive high-speed internet.…

By Roland Murphy for AZBEX The Indian Health Service division of the U.S Department of Health and Human Services is exploring the possibility of a replacement facility for the Whiteriver Hospital on the Fort Apache Indian Reservation. IHS issued a Request for Information for Architect-Engineer firms on Aug. 25. The published notice is “for Market Research to determine if a set aside can fulfill the requirements set forth in this request for information.” The Service expects to issue a Request for Proposal for AE services to design a replacement Whiteriver Hospital, “a 395,844 gross square foot building.” The selected firm…

By Rebekah Morris for AZ Builder’s Exchange, LLC The owners of Bell Bank Park have agreed to a final settlement with contractors in the completion of the $100M project in East Mesa and expect all subcontractors and vendors to be paid by October 31, 2022, according to Chad Miller, CEO, Legacy Sports USA. The project was completed in January 2022 using more than $250M in Arizona Industrial Development Authority (AIDA) bonds. The project broke ground in September 2020 with an accelerated schedule and received a Temporary Certificate of Occupancy on December 31, 2021. According to Miller, Okland and their subs…

On Tuesday, Aug. 30, Corning Inc. announced plans to open a new optical cable manufacturing facility in Gilbert’s Central Business District. The plant will be located in a 317KSF facility in the new Park Lucero East commercial development south of the Loop 202, near Gilbert and Germann Roads. Corning Inc., based out of Corning, New York, specializes in the manufacturing of specialty glass, ceramic, as well as related materials and technologies including advanced optics. In the last two years, Corning has invested more than $500M in optical fiber and cable. The new Gilbert plant will be the western-most U.S. manufacturing…