Author: BEX Staff

Giving Back 1. The Rosendin Foundation recognized Rosendin and employees across the country for donating more than 1,250 volunteer hours in 2021 and 2022 at nonprofit organizations across the country. Volunteer efforts were held nationwide across 16 regional offices. The Foundation’s second “Week of Service” was held between August 1st through August 6th. Company News 2. Cecilian Partners Inc. announced that Stephanie McCarty, chief marketing and communications officer at Taylor Morrison, and Greg Vogel, founder and CEO of Land Advisors Organization, have been named its board of directors. 3. Central Arizona Supply announced the acquisition of Benjamin Supply of Tucson,…

Sales Transactions 1. Scottsdale Promenade, a 581.6KSF retail center at Scottsdale Road and Frank Lloyd Wright Blvd. in Scottsdale, sold to a Delaware-based LLC earlier this month for $180M. The seller was Excel Owner Promenade LLC. The sale is reported to be the largest Valley retail property transaction so far in 2022. 2. Newmark announced the $111.75M sale of a two-property, 369-unit multifamily portfolio in the Southeast Valley. Newmark’s Brad Goff, Brett Polachek and Chris Canter represented the seller, a joint venture between Avanti Residential and KKR Real Estate, in the sale to Jason McCool. The two-properties are Omnia on 8th (188…

The Mesa Design Review Board agenda for this week featured plans for two new industrial parks near Pecos and Sossaman roads in the Phoenix-Mesa Gateway Airport area. CV Mesa Germann Industrial Park will total more than 600KSF of office and warehouse in six buildings on 38 acres. Documents identify AEI Arizona Oz Fund Inc. – an associate entity of Abington Emerson Investments – as the owner. NOTE: Documents on file with the City of Mesa show developer Cityview as the ownership entity. A search of Maricopa County Assessor records shows the LLC with addresses for both Cityview and Abington Emerson Investments.…

Florence may one day have an agriculturally focused housing community like Morrison Ranch or Agritopia if a newly proposed master plan comes to fruition. In a recent neighborhood meeting, owner Chris Dobson explained the vision for C.D. Farms, a plan for more than 2,200 homes on a 656-acre site near Plant and Adamsville roads. The site plan focuses primarily on 13 single-family home sections but also features two commercial mixed-use and two multifamily areas. Also included are six neighborhood parks. Dobson told the attendees each portion will have its own agricultural theme, such as cotton, wheat, etc. A representative of…

Members of Voice of Surprise, a “resident group” opposing developer Dominium Management’s proposal for an affordable multifamily/senior living/retail and self-storage mixed-use master plan in Surprise, have announced plans to pack the upcoming August 16th City Council meeting to discuss the preliminary development plan. Unofficial group spokesperson Quintus Schulzke emailed City officials announcing the group’s intention to attend en masse and promising to send petition forms with at least 500 signatures. The group’s website showed a total expected attendance of 392 people between members and their guests. Dominium’s proposal – known as Waddell Crossing and, alternatively, as Truman Ranch Marketplace, plans…

By Roland Murphy for AZBEX If you are an AZBEX Digital magazine subscriber (and if you’re not, you should be), you’ll see “Volume 13, Issue 51” in the top right corner of this issue. That means this is the first issue of the second half of our 13th publication year. While it’s undeniably an exercise in vanity to look back at our own work over the last six months/50 issues, we think it’s also as useful period as any to stop and take a temperature reading of the Arizona A/E/C market. If you’re anything like me, you suffered through the…

Property owner Meridian West Development is planning a new mixed-use development on an approximately 50-acre site at the SWC of Arizona Avenue and Pecos Road in Chandler. The site is one of the city’s few remaining vacant and undeveloped parcels. Plans for the project – named The District Downtown – include: 364KSF of office,Eight retail buildings,A 189KSF/180-room hotel,800 multifamily units,Two mixed-use buildings,4KSF of restaurant space, andParking garages. As currently planned, the tallest building would be a six-story office structure. Given sufficient demand, however, that height could expand as high as 120 feet. The current office plan calls for two, two-story…

Dermody Properties’ $1.5B, 10MSF vision for the 961-acre LogistiCenter at Copperwing industrial park master plan continues to move closer to reality. The 1.75MSF, 108-acre LogistiCenter at Copperwing Phase 1 site plan review request was scheduled before the El Mirage Planning and Zoning Commission this week and will go to City Council next month. Plans call for four buildings of between 282KSF and 659.7KSF. Elsewhere in the development area, LGE Design Build/Group is planning and will build a 1.2MSF speculative warehouse for owner G3 Enterprises to be known as G3 at Copperwing. Located at the SWC of Dysart Road and Peoria…

By Associated Builders and Contractors Associated Builders and Contractors reported its Construction Backlog Indicator fell 0.2 months in July and stands at 8.7 months, according to an ABC member survey conducted July 20th to August 3rd. The reading is up 0.2 months from July 2021. While backlog is 0.3 months lower than the May 2022 peak, it remains higher than at any point between March 2020 and March 2022. Backlog rose sharply in the south, which continues to be the highest of any region. Notably, backlog decreased by 1.2 months for contractors with less than $30M in annual revenue. …

Groundbreakings 1. Clayco has begun broken ground on the 584KSF, four-building Power Industrial development at the SEC of Pecos and Power roads in Mesa. The project was designed by DLR Group. 2. VanTrust Real Estate, LLC has started work on VT 202 – a 181KSF industrial development on 12.1 acres along 59th Avenue, between Buckeye and Lower Buckeye roads. 3. DPMG Galveston, LLC has started construction on its 86.3KSF office/warehouse Chandler Corporate Industrial Center II project in Chandler. The development is planned for completion in first quarter of 2023. Progress Reports 4. Despite Phase I finishing early, the Arizona Department…