Author: BEX Staff

Sales Transactions 1. Waymo purchased the Waymo Proving Ground, a 5,500-acre autonomous vehicle testing facility in Wittmann, for $220M. The seller, Apple Inc., acquired the property for $125M in 2021. The proving ground includes a 115-acre city course, a 35-acre vehicle dynamics area, a four-mile oval track and a freeway course purpose-built for autonomous vehicle testing. The facility was previously used by Fiat Chrysler. 2. Stonepeak recently purchased Acoya Shea from an entity connected to Harrison Street Asset Management and Cogir Senior Living for $109M. The 147-unit senior multifamily community is located at 7373 E. Shea Blvd. in Scottsdale. 3.…

Mohave County’s efforts to centralize its medical examiner services will be more expensive than originally thought due to rising construction and equipment costs. The Board of Supervisors is expected to discuss raising the project budget in its meeting next week. Having brought medical examiner services in-house in 2021, the plan is to overhaul an existing traffic control building in Kingman. Mohave County Medical Examiner John Hassett currently provides services through his private funeral home in Fort Mohave, with pathologist consulting provided by a former County ME. The County set aside nearly $4M in the Fiscal Year 2025-2026 budget to build…

Maricopa County Superior Court Judge Scott Blaney recently sided with the Home Builders Association of Central Arizona, effectively striking down an Arizona Department of Water Resources rule regarding groundwater. The rule required developers to prove there is a greater supply of groundwater than that required by state law to begin building homes. HBACA filed a lawsuit and argued the rule serves as an undue “water tax” and is beyond the ADWR’s authority. Developers must receive a certificate from ADWR that confirms a subdivision has its 100-year supply of groundwater before commencing construction. Blaney had previously ruled against ADWR in another…

Senate Bill 1418, a Republican-led measure that would prevent most Arizona county boards of supervisors from using zoning and land use regulations to prohibit small-scale, modular nuclear reactors, has been approved in the Arizona Senate and is currently awaiting a House vote. The legislation excludes counties of more than 500,000 residents, meaning Maricopa and Pima. It would apply to the state’s other 13 counties. The act is partially intended to place small reactors where coal-fired power plants once operated, without requiring additional review or local impediment. Transmission infrastructure is already in place at these sites, the thinking goes, allowing them…

Awards & Accolades 1. Brunch & Sip was recognized by Phoenix Home & Garden as the Best Commercial Project of 2026. The tenant improvement project by LGE Design Build converted a former office building into a two-story restaurant. Groundbreakings 2. Gorman & Company has started construction on Casa Grande Apartments, a 64-unit affordable housing community in Casa Grande’s Life on Main redevelopment district. Located at 115 W. Main Ave., the development will include three residential buildings and the adaptive reuse of the historic Shonessy House as a community space and leasing office. Completion is anticipated in 2027. Financing is being…

After extensive discussions over the past several months, the Flagstaff City Council has approved the purchase of 2.1 acres at 320 N. Humphreys St. for $6.3M. The property was formerly planned as an affordable multifamily and senior living community by AllThrive 365, which was previously known as the Foundation for Senior Living. AllThrive was unable to secure the necessary funding and announced it would cancel that plan and enter discussions with the City of Flagstaff to buy the land. Flagstaff will use the proceeds from selling the former downtown courthouse, parking funds and capital reserve funds to pay for the…

Even though construction costs in Phoenix were slightly higher than the national average, a newly released report shows they are continuing to moderate. In its Phoenix Q1 2026 Cost Index, Mortenson reported construction costs in the metro area rose 1.97% over the quarter and 7.05% year-over-year. The company’s National Q1 2026 Index showed the average increase across the country was up 1.7% national and up 6.8% YoY. Major drivers for the national increase were metal and energy costs, data center development disproportionately affecting supply chains and materials availability, and constraints on electrical and power distribution. According to the national findings,…

The next phase of improvements under the $40M renovation project at the DoubleTree Resort in Paradise Valley will be an upgrade of the nearly 4.6KSF Grand Ballroom. Representatives of the owner, Global Hospitality Investment Group affiliate Jackrabbit Prop Co LLC, have submitted a minor special use permit amendment application for the project. The Planning and Zoning Commission discussed the request in a June 2 study session, and the matter is expected to come up for a vote in a June 16 hearing. The renovation effort will remove 17 current parking spaces and convert 7.7KSF of interior space in the basement…

Awards & Accolades 1. AZ Big Media announced its Top 10 General Contractors as part of the 2026 edition of Ranking Arizona. Top 10 General Contractors of Arizona with a Workforce of More Than 291: • CORE Construction, • Hunter Contracting Company, • Hensel Phelps, • Willmeng Construction, • McCarthy Building Companies, • Sundt Construction, • DPR Construction, • Kitchell, • SDB and • Haydon. Top 10 General Contractors of Arizona with a Workforce of 70-291: • LGE Design Build, • Caliente Construction, • CHASSE Building Team, • Layton Construction Company, • Concord General Contracting, • Big-D Construction Southwest, •…

Sales Transactions 1. Machine Investment Group, in partnership with Axonic Capital LLC and Miramar Capital, acquired The Hub @ 202, a 1.3MSF industrial park on 88.5 acres at the NWC of Sossoman and Warner roads in Mesa, for $135M. The seller was Wharton Industrial. The project consists of 10 buildings ranging from 65KSF to 270KSF near Mesa Gateway Airport. Cushman & Wakefield’s Will Strong, Molly Miller, Jack Stamets, Michael Matchett and Madeline Warren represented both parties. Leasing advisors Ken McQueen, Chris McClurg, Blake Peters and Jack Sims of Lee & Associates were also involved. The property is currently 20% occupied…