Author: BEX Staff

Awards & Accolades 1. Plaza Companies CEO and Co-founder Sharon Harper has earned “AZRE Magazine”’s first Icon Award. The award will be presented at the annual Most Influential Women in Arizona celebration on August 25th. 2. Hensel Phelps’ diversity and inclusion efforts received national recognition by the Associated Builders and Contractors, Associated General Contractors and the U.S. Small Business Administration. This year’s diversity trifecta includes the ABC National Inclusion, Diversity and Equity Excellence Award in the General Contractor category, the AGC Diversity & Inclusion Excellence Award in the General or Specialty Contractor – Large Contractor category and the SBA Dwight…

Sales Transactions 1. Newmark announced the $93.5M sale of 44 Monroe, a 184-unit luxury multifamily community in downtown Phoenix. Newmark’s Brad Goff, Brett Polachek and Chris Canter represented the seller, HSL Asset Management, in the sale to an undisclosed buyer. 2. Decron Properties has purchased The Wyatt, a 216-unit multifamily development in Gilbert, for $91M. Steve Gebing and Cliff David of Institutional Property Advisors, a division of Marcus & Millichap, represented seller Thompson Thrift Residential. 3. Cushman & Wakefield announced the firm has advised Holualoa Companies and LaPour Partners in the $66.35M sale of Camelback Collective, a recently constructed 115.8KSF…

By Roland Murphy for AZBEX A near-capacity crowd packed into a conference room at ASU SkySong Building 3 for the BEX Events Leading Market Series panel on Advanced Manufacturing on August 3rd. Moderated by City of Phoenix Community and Economic Director Christine Mackay, a panel comprised of Sundt Corporation Sr. VP Chad Buck, JLL Capital Markets Group Sr. Director Carl Beardsley and Farnsworth Group Principal Terry Rucker gave their views on the history, current state and projected future of advanced manufacturing as both an economic force and construction market presence in Arizona. After setting the scene with a quick overview…

As the planning and approvals process for Andretti Karting & Games’ Chandler location makes its way to the finish line in anticipation of starting construction this fall, the company is revving up for a second Valley location near State Farm Stadium and Loop 101 in Glendale. The company paid $10.5M to BYPG Holdings LLC for the roughly 12-acre site last month. The 96KSF entertainment outlet will feature an indoor karting track, arcade, laser tag arena, restaurant/bar, 6KSF venue area and a duckpin bowling center, as well as virtual reality and immersive experience attractions. The Beck Group is the new facility’s…

After losing a vote before the Mesa Planning and Zoning Board last October, Sweetwater Companies has returned and won a 5-0 vote to rezone its planned 222-unit Homestead at Lehi Crossing development at Gilbert and McDowell roads. Many area residents opposed the development in its initial offering, saying no apartment development could fit the area character. They also expressed concerns about building height, the potential for increased crime, traffic impacts – including a planned traffic circle – and harm to area’s “equestrian lifestyle” and historic character. Prior to the rejection, the developer made repeated changes to the proposal in an…

By Nucor Corporation Nucor, the largest steel and steel products producer in the U.S., announced today it is investing $100M to add a new electric arc furnace melt shop at its existing bar mill in Kingman. The melt shop, which will have the capacity to produce 600,000 tons annually, is expected to be operational by 2024 and create approximately 140 new jobs. Nucor chose to build a new melt shop at Nucor Steel Kingman as it is a rolling mill that converts steel billets into coiled wire rod and rebar but lacks a melt shop. The Kingman mill currently employs…

Developer Subtext Living is planning a 387-unit, six-story apartment development on a roughly three-acre infill site in Midtown Phoenix near 4th Avenue and Osborn Road. The building design and materials are planned in keeping with the midcentury modern aesthetic of existing buildings in the area. A shaded streetscape is intended to encourage multi-modal transit use. Unit sizes will range from 600SF to 1,600SF and will be offered in one-to-three-bedroom floorplans. Planned amenities include a landscaped “pedestrian thoroughfare” and a dog park. The property owner is identified as Masyno Osborn LLC, and Subtext Living is the developer. The design firm is…

By Associated Builders and Contractors The not seasonally adjusted national construction unemployment rate plunged 3.8% in June 2022 from June 2021, down from 7.5% to 3.7%. Meanwhile, all 50 states had lower unemployment rates over the same period, according to a state-by-state analysis of U.S. Bureau of Labor Statistics data released by Associated Builders and Contractors. Ten states had an estimated construction unemployment rate under 2%; the highest unemployment rate was 6.5% in New Mexico. In June, national NSA payroll construction employment was 301,000 higher than a year ago and was 46,000 higher than its pre-pandemic peak. Residential construction employment…

Groundbreakings 1. Ryan Companies, US Inc. and Westcore announced the groundbreaking of Hatcher Industrial Park earlier this week. Located along the Loop 303 corridor in Glendale, the development is comprised of two buildings totaling more than 906KSF. 2. Tempe will begin construction on its Meyer Park improvement project next week. Planned improvements include a playground renovation, rubber surfacing installation, more ADA-compliant parking, new lighting, new picnic ramadas, enhanced walkways and updated landscaping. 3. With the remodel of Downtown Glendale’s Court building comes the need for temporary housing of staff. FCI Constructors renovated the first floor of the historic Sine Building…

By Roland Murphy for AZBEX The City of Phoenix Aviation Department has issued a Request for Information as it looks to sell approximately 820 acres of City-owned land near Olive Avenue and Litchfield Road near Luke Air Force Base. According to the announcement, “This could include private development compatible with zoning restrictions related to Luke Air Force Base, along with a cooperative development of a utility scale solar facility in several zoned areas where Aviation would retain the Renewable Energy Credits for the power produced at the site.” Aviation originally acquired the 10 parcels listed in the RFI to protect…