Author: BEX Staff

By BEX Staff for AZBEX The Pinal County Planning and Zoning Commission has recommended approval of requests from Diversified Partners for a Comprehensive Plan amendment and rezoning for 3.47 acres southeast of Ironwood and Ranch roads in San Tan Valley near the border with Queen Creek. The plan amendment would change the land use designation from Rural Living to Suburban Neighborhood, while the rezone would change the zoning from Suburban Ranch to Community Commercial. According to the submitted materials and a local news report, Diversified plans commercial uses on the site. The nearly 3.5-acre commercial property is adjacent to another…

Awards & Accolades 1. AZRE Magazine recently announced its 50 Commercial Real Estate Leaders to Watch in 2026 as part of its AZ Big 100. The list consists of: Ryan Abbott, Clayco; Annette Anderson, Arizona Escrow & Financial Corporation; Chase Anderson, A.T. Meridian; Todd Baum, Sun Valley Masonry; Brandon Boett, Slabhaus; Duerk Brewer, Matthews Real Estate Investment Services; Walt Brown, Diversified Partners; Lucas Bruxvoort, Industrial Power Solutions; Dan Bueschel, Modigent; David Campbell, PCL Construction; Sean Cooney and Mike Koch, Suncrest Real Estate Development; Kimberly Davids, Arizona Builders Alliance; Courtney Dunlap, Benson Construction; Cooper Fratt, CBRE; Charlie Freericks, Howard Hughes; Andrew…

Sales Transactions 1. Cushman & Wakefield announced the real estate services firm has arranged the sale of Commerce @ 303, a premier 663.4KSF industrial property and adjacent entitled, shovel-ready 32.6-acre development site located at 5215 N. Alsup Road in Glendale. Private equity investor EQT acquired the property from New York Life Real Estate Investors and SteelWave. The transaction was brokered by C&W’s Will Strong, Molly Miller, Jack Stamets, Michael Matchett and Madeline Warren. The asset sold for $104.6M. 2. IndiCap, in partnership with Invesco Ltd., announced the sale of a 566.1KSF industrial building in the Virgin Industrial Park in Glendale…

By Roland Murphy for AZBEX The Eloy Planning and Zoning Commission met this week to discuss a proposal that could amend the City’s General Plan land use designation for 338 acres at the NWC of Battaglia Road and 11 Mile Corner from Medium Density Residential and General Industrial to Mixed-Use that would allow development of a broader master plan. The meeting was an initial public hearing. No action was taken. The property owner/developer is I-10 Eloy Eleven Mile Corner and Battaglia Dr 453 LLC, which traces to real estate investor Tushar Modi. CVL Consultants is the planning and civil engineering…

By Roland Murphy for AZBEX After much back and forth, the San Luis City Council has approved a controversial townhome development from Comite de Bien Estar at the NWC of Sixth Avenue and Urtuzuastegui Street in the downtown area. Urban Border Townhomes will be a 23-unit development on 3.13 acres of a seven-acre site. The General Plan amendment and rezoning request originally went to the Planning and Zoning Commission, where it was continued twice before finally being recommended for denial in November. The original plan included 54 apartments in addition to the townhomes. City Council approved the request after it…

By The Housing is Healthcare Fund by the Arizona Medicaid Health Plans and Local Initiatives Support Corporation The Housing is Healthcare Fund, established through a collaborative effort among Arizona Medicaid Health Plans, is announcing seven new grant awards to increase the availability of housing across Arizona. Projects in Glendale, Mesa, Phoenix, Prescott Valley and Tucson will receive a total of $2.5M. This collective investment demonstrates the shared commitment of all participating Medicaid Health Plans to address housing needs across Arizona. Since 2020, the Medicaid Health Plans have provided $14.8M through 36 grants, including today’s announcement. The Housing is Healthcare Fund…

By BEX Staff for AZBEX Commercial real estate brokerage and research firm Kidder Mathews has released its Q4 2025 Phoenix market reports for several sectors. Office The company’s Office sector report shows year-over-year vacancy fell 140 basis points, decreasing to 23.6%. Average rents held steady at $30.97/SF/year. Net absorption was positive, hitting more than 211.5KSF for the quarter. Class A space contributed nearly 414KSF. While leasing activity was strong, hitting 1.8MSF for the quarter and 6.4MSF for the year, sales transactions were down 18% and totaled 1.76MSF. There were no new deliveries in Q4, as the production pipeline remained flat.…

Groundbreakings 1. Construction has begun on the Cambria Hotel Mesa, a five-story, 107-room upscale hotel at the corner of Elliot and Ellsworth roads in Mesa as part of the $60M East Gate Plaza development. Aspect Hospitality Group owns the project and is developing it alongside Clarity Strategic Opportunities and O’Reilly Hospitality. Canyon Builders is the general contractor, RKAA Architects is serving as development manager and architect, Spokes Hospitality is handling interior design, and EPS Group is responsible for engineering. The hotel is expected to open in early 2027. Progress Reports 2. Taylor Morrison has unveiled model homes for Verdin, a…

The City of Phoenix has approved a preliminary site plan that will enable North Valley Christian Academy to build a new preschool and kindergarten on 4.5 acres at the NEC of 27th Drive and Westland Road. Plans call for two two-story buildings to be built across Westland from the current school. The early childhood development will include play areas and administrative space, along with parking and landscaped areas. Traffic will enter from a collector street and from 27th Drive. NVCA is the owner. The design firm is Grace Design Studios. Waltz Construction is the general contractor. Engineering is by Ament…

By Roland Murphy for AZBEX Owner LKY Development Company is requesting a zoning change for 1,120 acres in the 24,800-acre Belmont Mixed-Use plan area near Buckeye. Specifically, according to the Maricopa County Planning and Zoning Commission report, “The site consists of 1,120 acres and is generally located at the southwest corner of 339th Ave. and Indian School Road in the Tonopah area. This site is in the southern portion of the Belmont master planned community with various commercial, residential, and industrial uses first approved in 1991 and encompasses approximately 24,800 acres. Since the approval of Belmont master planned community, markets…