Author: BEX Staff

Sales Transactions 1. Creation has announced the sale of the 860.6KSF 10 West Commerce Park, home to Funko’s U.S. distribution center, to Cohen Asset Management for $130M. Will Strong of Cushman & Wakefield brokered the deal. 2. The 301-unit Park Terrace Senior Living at 2577 W. Greenway Road in Phoenix has sold to Link Senior Development and The Roxborough Group LLC for $45M. JLL assisted Link in securing debt and equity partners. An entity associated with Homan Zarghampour was the seller. 3. Next Round Asset Management, LLC has purchased the 240-unit Palomino Crossing apartment community in Tucson for $28M. Seller…

By City of Glendale “District at Sportsman’s Park, Glendale” will be the name of a new, innovative and vibrant mixed-use project being built in a collaboration between the City of Glendale, the Arizona Cardinals and Plaza Companies. The 62-acre site is located east of Loop 101, south of State Farm Stadium and to the east of the new VAI Resort. District at Sportsman’s Park, Glendale, includes two parcels of land in the northwest portion of the property owned by an affiliate of the Arizona Cardinals. The remainder of the site is owned by the City of Glendale. Upon completion, the…

A second phase has been announced to join with a Build-to-Rent project about to get underway on a Maricopa County island in north Peoria. Building permits for Village at Pleasant River, a 246-unit development on 25 acres near Happy Valley Parkway and 115th Avenue are under review. Now, applicant EMC Management is requesting rezoning for Village at Pleasant River Phase II to accommodate another 55 single-story units on an adjacent five acres. The Phase II plan seeks to build 18 one-bedroom, 28 two-bedroom and nine three-bedroom single-story units. The Maricopa County Technical Advisory Committee has scheduled a first review for…

Clarion Partners is asking the City of Glendale to annex approximately 130 acres to facilitate construction of its planned Northern Parkway Commerce Center, a 2.36MSF industrial project at the SWC of Northern Parkway and Dysart Road. Clarion’s plan consists of four buildings of between 370KSF and 680.4KSF. The building sizes could change to accommodate the needs of potential tenants. Construction costs are estimated at $322M. The project team consists of developer Clarion Partners, architect Butler Design Group and engineering firm EPS Group. Withey Morris PLC is the project representative, and the current landowner is Desert Leasing LLC. The Glendale City…

By The Office of Representative Kyrsten Sinema $105M will be invested in Arizona tribal communities for critical sanitation projects from the bipartisan Infrastructure Investment and Jobs law led by Senator Kyrsten Sinema and shaped by Senator Mark Kelly. The funding comes as part of the $3.5B Sinema and Kelly secured for Indian Health Service sanitation infrastructure over the next five years. The $105M has been allocated for Tier 1 project constructions. Tier 1 projects are considered to be “shovel-ready,” as the planning for the project is complete with engineer design activities for proposed sanitation facilities, contract documents, and contract plans…

By Roland Murphy for AZBEX Sources with two different firms attached to the LG Energy Solution Battery Plant – a 1.4MSF advanced manufacturing project at Germann Road and Ironwood Drive in Queen Creek – have confirmed to DATABEX research staff that the project has been put on hold. AZBEX was the first outlet to report the plan’s existence in an exclusive feature back in March. (AZBEX, Mar. 18th) The change in status was first discovered in a Wednesday, June 22nd conversation with Blount Contracting, Inc., the grading subcontractor for the development. DATABEX staff was told LG Energy Solution has pulled…

By BEX Staff for AZBEX Despite extensive lobbying from construction trade groups, the Biden Administration has no plans to cut U.S. tariffs on Canadian lumber as part of its efforts to fight inflation. The administration is considering reducing or eliminating tariffs on some other products, notably a range of Chinese goods, but no decision is expected for at least another week. Most Canadian lumber is subject to a duty of 11.64%, which has been one contributor to high prices for building materials, particularly in residential construction. In a June 21st article, Reuters quoted U.S. Treasury Secretary Janet Yellen as saying,…

The U.S. Department of Housing and Urban Development will distribute almost $135M in affordable housing block grants to 20 of the 22 tribal nations in Arizona. Funding is provided via the Indian Housing Block Grant program, which covers affordable housing activities, development and operation on tribal lands. Federally recognized tribes and their designated housing partners are eligible to apply, and funding is available for efforts including housing development, crime prevention and public safety, among others. Arizona tribes awarded IHBG funding in this round are: Ak-Chin Indian Community;Cocopah Tribe;Colorado River Indian Tribes;Fort McDowell Yavapai Nation;Gila River Indian Community;Havasupai Tribe;Hopi Tribe;Hualapai Indian…

By Roland Murphy for AZBEX Acadia Healthcare wants to build a 100-bed behavioral healthcare hospital on 12.03 vacant acres at the NWC of Ellsworth Road and Peterson Avenue in Mesa. The proposal was presented before the Mesa Design Review Board in a June 14th work session. Acadia is requesting to opt into the Elliot Road Technology Corridor Planned Area Development and is asking for an Administrative Site Plan Approval and Design Review Approval. According to the project narrative submitted by project representative firm Berry Riddell LLC, City staff has determined the proposed hospital use is allowed under the site’s existing…

Awards & Accolades 1. SRP launched its Business Rebates program in 2009 and the City of Mesa is the first municipality ever to earn the maximum of $300K annually in energy-efficient rebate incentives. The City of Mesa projects that combined to earn the distinction were: Greenfield Water Reclamation Plant Variable Frequency Drives;Falcon Field Airport LED Lighting Upgrade;AZ Labs Central Plant;Brown Road Water Treatment Plant (BRWTP) LED Retrofit – Phase 2, andAZ Research Labs – Preliminary Assessment. Groundbreakings 2. The City of Avondale held a groundbreaking ceremony earlier this month to launch construction on the new Avondale Aquatic Center on the Avondale Civic Center…