Author: BEX Staff

After purchasing 19.24 acres northwest of Marana for more than $8M, American Furniture Warehouse plans to build its first warehouse and showroom in metro Tucson next year. Plan specifications are not yet finalized, but the building is expected to be approximately 250KSF, significantly smaller than the company’s other locations in Glendale (534KSF) and Gilbert (630KSF). Company officials have said they plan to add two more Arizona stores, in addition to the Tucson-area location, within the next two years. A third Phoenix location, in a former Costco the company is currently renovating, is expected to open this summer. By the end…

Payson has been growing in population over the last several years and is running out of classroom space for elementary school students. After closing and selling Frontier Elementary School in an effort to save $500K per year on maintenance costs, Payson Unified School District shuffled students into the remaining Julia Randall Elementary and Payson Elementary School facilities. There is currently only enough space to add one more elementary school classroom, even though the District is working to clarify a plan to add more teachers to keep class sizes below the permitted maximum. Since the schools have returned to in-person learning,…

Awards & Accolades 1. Civil engineering firm EPS Group was named Southwest Design Firm of the Year by ENR in its annual look at the Top Design Firms in the region. Some of the recent projects that EPS Group has worked on that helped it post a record 2021 are the Phoenix Rising Stadium at Wild Horse Pass Sports Park in Chandler; the US 60X for the Arizona Department of Transportation in Gilbert, and Bella Vista Farms in San Tan Valley. 2. The Top Architecture Firms have been released for the 2022 edition of Ranking Arizona. Nine Architects or Fewer:…

Sales Transactions 1. Ideal Capital Group has purchased the 171-unit Hudson on Farmer apartment community in downtown Tempe for $96M from 8th & Farmer Owner LLC. Steve Gebing and Cliff David of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller and found the buyer. 2. 86-unit apartment community The Willow, 6315 N. 16th St., has been purchased by M3 Capital Group Acquisition Company 5 LLC from North Point 6315 LLC for $26.7M. CBRE Group Inc.’s Brian Smuckler, Jeff Seaman, Derek Smigiel and Bryson Fricke represented both parties. 3. Cliff David and Steve Gebing of Institutional Property…

By Arizona State University and Viasat, Inc. Arizona State University Research Park, Inc. announced Viasat Inc., a leading global communications company, is expanding its current footprint at the 324-acre ASU Research Park to accommodate the company’s future growth projections. Viasat evaluated several major U.S. locations for expansion capabilities. The selection of ASU Research Park was driven primarily by the affordable cost and availability of technical talent, existing company strategic presence, and a favorable business climate. With this step, planning is now underway to create a culturally aligned campus in proximity to Viasat’s existing ASU Research Park campus. In total, the…

With the Prescott City Council’s recent approval of a City-owned land sale, developer Founding Fathers Properties LLC plans to build a mixed-use project featuring residential and commercial uses at 215 and 223 N. McCormick St. Prescott will use the $466K sale proceeds to pay down the loan it used to purchase the new City Hall building on Montezuma Street. Founding Fathers intends to demolish the existing building on the McCormick Street property and replace it with a mixed-use development featuring residential units, a food hall and a distillery. The current plan is for four stories, although the developer has expressed…

The rubberized asphalt that was a cornerstone of the Quiet Pavement Pilot Program and used to reduce road noise in the late 1990s and early 2000s is failing. Under a 2003 mandate from then-Governor Jane Hull, the Arizona Department of Transportation used rubberized asphalt for most highway projects. The hope was the program would earn federal funding as a means of noise reduction. The Pilot Program found, however, that rubberized asphalt loses its noise reducing capacity after a few years of use, and the Federal Highway Administration ruled in 2013 that it did not meet federal standards for noise reduction.…

A Commerce Department investigation into solar panel supplies has put hundreds of major and utility-scale solar power projects around the U.S. on hold. Investigators are looking into whether Chinese manufacturers are avoiding duty rules on their solar panel imports by funneling them through Malaysia, Thailand, Cambodia and Vietnam. Those four countries are responsible for more than 80% of solar panel imports, according to an industry association. Solar energy trade associations have come out in opposition to the Commerce investigation, alleging installation forecasts for this year and next are down 46% as a result. Developers around the country are saying they…

In a recent work session to discuss the Fiscal Year 2023 budget, Kingman City Manager Ron Foggin presented City Council options for a sales tax or a property tax to fund street maintenance and improvements. A recent poll showed 96% of residents responding that street maintenance and improvement is essential, but 85% reported existing quality as fair or poor, and 80% said they could support a property tax for pavement preservation. The total 10-year cost for a pavement preservation program is estimated at $103M. The general fund could provide for $55.5M through Fiscal Year 2029, and some additional outside funding…

The City of Yuma has begun considering its 2023-2027 Capital Improvement Program, featuring 211 projects with a total value of more than $284M. The 2023 list has $180.7M in projects, including the Desert Dunes Water Reclamation Plant expansion and East Mesa Community Park. The CIP also includes several street and pavement replacement projects, as well as deferred maintenance projects at City Hall and the Civic Center. According to CIP Administrator Susan Cowey, capital needs remain greater than available resources and estimates may be affected by rising construction costs and materials availability. The entire CIP document is available for review here.…