Author: BEX Staff

Awards & Accolades 1. Ranking Arizona has named its lists of Top 10 Electrical Contractors. For companies with 135 or fewer employees, the firms are: 1. Canyon State Electric, 2. Spectra Electrical Services, 3. JFK Electrical Contracting Enterprises, 4. Kortman Electric, 5. Redline Electric & Solar, 6. RMJ Electrical Contractors, 7. Swain Electric, 8. Ludvik Electric, 9. Kuhl’s Electric & Service, and 10. A.C. Desert Electric. For firms with 136 or more employees, the firms are: 1. Wilson Electric Services, 2. Switch Electric, 3. DP Electric, 4. Cannon & Wendt Electric Co., 5. Sturgeon Electric Company, 6. Corbins Electric, 7.…

California-based developer MacLaughlin & Co. is planning an approximately 134KSF industrial facility in Surprise’s industrial railplex. The $25M MacLaughlin & Co. Industrial at Summit Business Park will offer spaces ranging from a minimum of 16.5KSF up to the total site volume of 134KSF. MacLaughlin purchased the site, one of the few still available for new projects in the railplex, for $2.6M last year. The development team consists of Cawley Architects for design and Sun State Builders as the general contractor. Martensen is the leasing broker. Construction is expected to begin this summer and deliver early next year. (Source)

By The City of Glendale VAI Resort, the largest hotel and entertainment destination in Arizona, is set to open in late Spring of 2023. With the mission to bring a water oasis to the desert, VAI Resort will be the premiere daylife and nightlife destination in the country. VAI Resort will feature over 1,200 luxury hotel suites and rooms (originally planned for 630), a large state of the art 360-degree concert stage, 13 elevated fine dining concepts, flowing white sand beaches, and pristine Caribbean-blue water. A 52KSF island will be a center point for this unique 60-acre entertainment resort. Previously…

State Senator T.J. Shope of Coolidge has introduced a bill that would appropriate $400M from the Arizona General Fund to widen I-10 between Chandler and Casa Grande. Dedicating those funds could generate federal matching funds of up to $300M The appropriation request is also included in the state budget, which is currently in review. The budget approval process is often subject to delay and political maneuvering, and the federal funds must be applied for before May 13th. If the budget passes before May 13th, Shope’s bill, SB1239, will not be necessary. Shope said with the state appropriation and matching federal…

By Phoenix Sky Harbor International Airport Phoenix Sky Harbor International Airport is home to the first City of Phoenix project to benefit from the Bipartisan Infrastructure Law passed late last year by Congress, starting with construction of a long-awaited cross-field taxiway connecting the north and south airfields. The taxiway project was approved April 20th by the Phoenix City Council. The 2,000-foot taxiway will join the north and south airfields on the west end of the airport, allowing for better aircraft flow for airfield operations. Design has begun on the project and Federal environmental approvals are expected late this summer. Approximately…

The latest Dodge Construction Network report shows total construction starts fell 12% in March, reaching a seasonally adjusted annual rate of $903.8B. Nonresidential starts fell 29%, caused primarily by three major manufacturing facilities breaking ground in February. Nonresidential starts would have increased by 10% had those projects been removed. So far for 2022, construction is 9% higher than for the first three months of 2021. Nonresidential starts are up 26%. Total construction year-over-year is up 15%, and nonresidential is up 25%. Nonbuilding starts had the smallest March decline, dropping 2%. Environmental public works were up 35%, and miscellaneous nonbuilding was…

Plans for the redevelopment of Metrocenter Mall in Phoenix are expanding, and the new price tag could approach $1B. The City of Phoenix is working on an agreement with Concord Willshire Capital LLC. The company announced a redevelopment plan in December, in association with TLG Investment Partners and Hines. The initial plan included 2,600 multifamily units and 100KSF of retail and service space that included boutiques, restaurants and bars, a park and other outlets. That plan had an estimated cost of $750M. Concord Willshire is currently working to acquire 80 acres across five parcels at the site. A new City…

An alliance of environmental activist groups including the Center for Biological Diversity, Coalition for Sonoran Desert Protection, the Friends of Ironwood Forest and the Tucson Audubon Society have filed a federal lawsuit in Tucson looking to halt development of Interstate 11 between Nogales and Wickenburg. They allege the Federal Highway Administration did not consider harm to the desert, wildlife and air quality when it approved the road’s route around the west side of Tucson. They claim those effects would be less severe if the highway were co-located with I-10 and I-19. Even though interstates are, by definition, highways, the complaint…

The City of Phoenix will purchase the former Kmart site at I-17 and Northern Avenue and lease an adjacent building to create a workforce and education center. The site had previously been considered for a food distribution center. Since the store closed there had been multiple considerations for its use, including commercial, industrial and multifamily developments. It is one of the few remaining locations available for redevelopment on the I-17 corridor. Work to redevelop the site and its educational uses will continue as part of a joint effort with Arizona State University, the Maricopa Community College District and West-MEC, which…

Sales Transactions 1. Harrison Street Real Estate has sold a 27-property healthcare real estate portfolio of 1.2MSF in 10 states, including Arizona, to Northwest Healthcare Properties for $600M. The Arizona component consisted of six properties in the Tucson area totaling $58.49M. the properties and prices were: Micro-hospital, 7475 S. Wilmot Rd., $20.22M;Micro-hospital, 5620 W. Cortaro Farms Rd., $20.44M;Medical Office Building, 4892 N. Stone Ave. $7.13M;MOB, 551 W. Magee Rd., $3.45M;MOB, 1055 La Canada Dr., $3.88MMOB, 1704 W. Anklam Rd., $3.37M Harrison street was represented by JLL. 2. CrackerJax Land Company, LLC has acquired the approximately 27-acre site located at 16001…