Author: BEX Staff

Chang Chun Petrochemical Group is planning to build a new plant on 84 acres in the Pinal County Technology Park near the Casa Grande industrial corridor. The CCP Group development, known as “Project Discovery,” will be the park’s second project. Parties involved with the plan say it has been in the works for more than a year. The park’s first project, “Project Buckshot,” a Kohler manufacturing plant, was announced earlier this year. CCP Group is a Taiwan-based chemical manufacturer. Specifics as to what will be produced at the location have not yet been disclosed. The Casa Grande City Council will…

Home furnishing retail giant Williams-Sonoma Inc. has leased 1.2MSF at The Cubes at Glendale, according to a recent article in Phoenix Business Journal to multiple sources. The article speculates, however, the company may have much larger plans. Business Journal’s research shows that in February a company described as a Fortune 500 retailer with “a very recognizable name” was looking for 200-250 acres in Buckeye to develop a 3MSF light manufacturing and distribution space. The effort, codenamed “Project Jaguar,” was to be built in three phases lasting through August 2026. While Buckeye’s public records did not identify the parties, the article…

Giving Back 1. Lennar Foundation, the philanthropic arm of Lennar Corporation, and the Building Talent Foundation have formed a strategic alliance to empower youth and underserved persons through residential construction job skills training and career coaching. Lennar Foundation’s investment in BTF of $2M over two years will accelerate the advancement of the organizations’ mutual goals and work to build a sustainable residential construction workforce by 2030. 2. Terracon has contributed $10K to the SRP Healthy Forest Initiative to help reduce wildfire risks and restore the forested watershed that provide water to roughly half of the Valley of the Sun. Boards & Commissions…

Sales Transactions 1. Tide Equities sold the 472-unit Midtown on Main Street Apartments in Mesa for $137M. The buyer was Kohlberg Kravis Roberts & Co. 2. MODERNE Communities closed on $106M for the build-out of two new Build-to-Rent projects. The company will break ground on MODERNE at Rocking K Ranch in Vail this month in December and will begin construction on MODERNE at Roosevelt in Tolleson in early 2022. 3. Stealth W Jefferson LLC, SBSS W Jefferson LLC and CI448 W Jefferson LLC have purchased a 466KSF industrial facility on 45 acres at 91st Avenue and Van Buren in Tolleson…

By Roland Murphy for AZBEX In our last issue, we looked at how development fatigue and resistance to the current pace of change in the Valley are harming housing affordability and putting the area economy at risk. Today, let’s look at another trend that poses even greater threats: Organized resistance groups. While nearly every development proposal meets with some degree of resistance from a percentage of area residents worried about traffic, density, building heights and the omnipresent “impacts to neighborhood character,” it is (so far) only an unlucky few who encounter organized resistance groups. In 2019 the National Apartment Association…

A $100M mixed-use development will soon be coming to 20 acres in Gilbert near the SanTan Village shopping center. Northside at SanTan Village is planned to feature a 120-room hotel, two high-end office buildings totaling 250KSF and six boutique retail and restaurant spaces totaling 32.5KSF. The development will also feature shared community spaces and a half-mile fitness track around its perimeter. According to news reports, the project is being developed by SanTan Development Group Inc. and Okland Capital as a joint venture. The Gilbert Town Council staff report shows SanTan Development Group Inc. is affiliated with LeSueur Investments. Okland Construction…

By Milhaus Multifamily developer Milhaus has closed on its second residential apartment development in Tempe. The $56M Qualified Opportunity Zone development at 2119 E. Apache Boulevard will offer 219 studio, one- and two-bedroom apartment units and five live-work spaces. The complex will be Milhaus’ first-ever partially solar-powered property with solar panels on carports to help reduce common area electricity usage. Amenities will include a pet-friendly spa and bark park, resident lounge with a coffee shop and in-house barista, communal kitchen, rec/game room, coworking and office spaces, pool and outdoor entertainment deck with fire pits, fitness center and yoga studio, and…

A report from Rounds Consulting Group commissioned and released by Arizona Sonoran Copper Company claims reopening the Cactus Mine west of Casa Grande could generate $8.5B over the project’s expected lifespan. The mine is expected to have an 18-year operational life with five years to prepare before opening and five years to clean up and restore the site after operations end. The report estimates nearly 1,400 direct and indirect jobs, with $90M in labor income, as a result of the project. The estimated total tax revenue from the project is $366M. A rezoning request was recently recommended for approval by…

By Associated Builders and Contractors National nonresidential construction spending was up 0.9% in October, according to an Associated Builders and Contractors analysis of data published by the U.S. Census Bureau. On a seasonally adjusted annualized basis, nonresidential spending totaled $814.2B for the month. Spending was up on a monthly basis in 13 of the 16 nonresidential subcategories, with spending in the commercial subcategory virtually unchanged for the month. Private nonresidential spending was up slightly by 0.2%, while public nonresidential construction spending increased 1.8% in October. “On the surface, there is much to be encouraged by in October’s construction spending data,”…

Awards & Accolades 1. The International Concrete Repair Institute has announced the winners of its 2021 Project Awards. The Arizona Dam Spillway Repair Project in Phoenix – submitted by Gervasio & Associates, Inc. – earned an Award of Merit in the Longevity category. Groundbreakings 2. Build-to-Rent community MODERNE at Rocking K Ranch in the southeast Tucson area of Vail will break ground this month. It will include 224 single-story, single-family homes on 17.1 acres. 3. Developers GID and SunCap Property Group, along with Graycor Construction Company, joined with local dignitaries and project stakeholders to break ground three brand new, fully speculative industrial buildings…