Author: BEX Staff

In a move that caught many officials and industry watchers by surprise, Gov. Doug Ducey vetoed a ballot measure that would have sent the Proposition 400 half-cent transportation sales tax extension to the ballot for voter approval in a special election next spring. In rejecting the measure, Ducey cited the current burden of inflation on taxpayers and said the bill lacked transparency. He also expressed concerns over the extension’s 25-year operational period, rather than the standard 20 years, a reduction in funding distributed to the regional freeway system and a lack of consideration as to how state monies would be…

Following on the heels of Pinal County, Casa Grande has approved a development agreement that will allow Lucid Motors to lease approximately 1,300 acres near its existing site. The company will pay $7.1M per year in rent and have the option to purchase the site after four years. Lucid has also been actively buying properties near its factory site. It also has leased 116KSF of space in Tempe. Casa Grande will annex and rezone the 1,300-acre site for industrial development. No development plans have been made public, but it is expected the site expansion could be intended as a supplier…

In a move associated with the $70M Downtown Campus Modernization Project, the City of Glendale is considering selling several parcels – consisting of buildings, parking lots and vacant spaces – in the area around 58th Avenue. City officials have said the modernization project announcement spurred interest in redeveloping the downtown area overall. As a result, Glendale may issue a Request for Proposals to solicit bids for the redevelopment of the parcels. Potential uses under discussion include restaurants and bars, a boutique hotel, museums and art galleries, and bakery/grocery/pharmacy uses. As for the modernization project that set the redevelopment interest in…

Awards & Accolades 1. Achen-Gardner’s Waste Activation Sludge Line rehabilitation from the Arrowhead Ranch Water Reclamation Facility to a termination point on Bell Road has won both the 2022 Build Arizona Award from the Arizona Chapter Associated General Contractors and the 2022 Public Works Project of the Year from Arizona Chapter American Public Works Association. The project rehabilitated nearly 15,000 linear feet of 6” ductile iron pipe with Primus Line, making it the largest and most complex Primus Line installation in the U.S. to date. Groundbreakings 2. The Arizona Department of Transportation will start a renovation and facilities upgrade at…

Plans have been announced to develop Bullard Logistics – a 250KSF, $50M industrial project with space for two-to-three tenants at the SEC of Bullard Avenue and Broadway Road in Goodyear. The plan features 36-foot clear heights, 38 dock high doors, 270 car stalls, a 185-foot truck court and 38 excess trailer stalls. Developer Sun Industrial Partners and partner Globe Corporation created Globe Sun Industrial LLC and bought the 20-acre project site from BGV B&B LLC (Beckham Gambin Ventures) for $6.4M in June. Both parties were represented by Allen Lowe and Ryan Hingst with Lee & Associates, who will continue with…

Centris Industrial – a REIT sponsored by CA Ventures – has plans to build a two-building, 412.2KSF industrial project at 80th Street and Pecos Road in Mesa. The first building will be 101.4KSF, with spaces divisible between 25KSF and 50KSF. The second building is planned at 310.8KSF, with spaces divisible between 50KSF and 100KSF. Represented by Phil Haenel of Cushman & Wakefield, Centris acquired the 23-acre-plus site in May for $16.1M. Phil Haenel, Mike Haenel, Andy Markham and Brandon Borsheim of C&W will serve as leasing brokers. The seller was an entity formed by Cedar Point Builders. LGE Design Build/Group…

The Scottsdale Development Review Board approved plans for three major developments in its June 16th meeting. Gentry on the Green Phase 1 The first item reviewed was the site plan for Phase 1a of the Gentry on the Green multifamily development master plan on Camelback Road west of Hayden Road. The overall plan calls for 1,864 apartments and 156KSF of commercial space. The first phase is divided into two components, with Phase 1a having 262 units and 1b providing 320. A commercial component of 7.3KSF is also part of the Phase I. DRB was originally scheduled to consider Phase 1b…

The Pinal County Board of Supervisors has approved a lease/purchase agreement with Lucid Motors for more than 1,300 acres near the company’s existing headquarters. It also approved a $126M tax revenue bond, the proceeds of which could go toward purchasing the property to be leased by Lucid or for other industrial development. Under the agreement, Pinal County and Casa Grande can lease the property to Lucid in exchange for payments of $7.1M for four years, after which the company may purchase the site. Casa Grande plans to annex and rezone the site for industrial use. Lucid recently purchased 120 acres…

By Roland Murphy for AZBEX No matter how hot the market, it sometimes takes years for the right mix of vision, team and timing for a project to come together, but a good location will almost always win out. In March of 2007, Phoenix City Council approved a plan for a 23-story, two-tower condominium and hotel development west of the NWC of 11th Street and Van Buren. That 390-unit/260-room project was never started. Now, developer Alliance Residential has submitted an Application for Planning Officer Action to modify stipulations attached to that approval from 15 years ago so it can build…

New data from The Cromford Report shows sellers are dumping listings into the Metro Phoenix housing market at a rate 34% higher than average. In its most recent four-week review, Cromford found 1,845 listings had been added to the Arizona Regional Multiple Listing. The report said the Greater Phoenix housing market is shifting faster than it had seen at any point in the past 22 years, that supply is increasing at the worst possible time and that, “We are seeing the fastest cooling trend that the Greater Phoenix housing market has ever experienced.” The increase in supply comes as demand…