Author: BEX Staff

Giving Back 1. The Arizona Builders Alliance 15th Annual Community Service Board’s 2024 Toy Drive began collecting toys, gifts and donations for seven nonprofit organizations serving thousands of children across the state. The ABA will use monetary donations to purchase toys from a wholesaler, then sort and wrap all the gifts for children at Sunshine Acres Children’s Homes, Arizona Sunshine Angels, Santo Niño Catholic Community, Sequoia Charter School, and Agape Adoption Agency of Arizona, as well as Tucson based Arizona Baptist Children’s Services and TMM Family Services. A variety of Christmas events are being held Dec. 13-Dec. 18. More than…

Sales Transactions 1. Ventas purchased The Country Club of La Cholla for $78.5M. The 217-unit independent/assisted living community is located on 10.6 acres at 8700 N. La Cholla Blvd. in north Tucson. The 236.5KSF property was last sold to Chicago Pacific Founders in 2019. The community is managed by a subsidiary of CPF Living Communities called Grace Management. 2. El Monte Shopping Plaza, located at 8841 N. 19th Ave. in Phoenix, has been sold to Lena Centers, a division of Longpoint. The shopping center was 99% leased by ASI Real Estate at the time of sale. The transaction totaled $17M,…

By Roland Murphy for AZBEX Nationwide Realty Investors’ 134-acre Cavasson master-planned mixed-use site at Hayden Road and Loop 101 has been one of the most consistently prolific development areas in the Valley since the first phase was announced in 2018. Now, two new projects have been submitted to the City of Scottsdale that will, if built, expand both the office footprint and residential unit count at the $1B-plus site. BB Living at Cavasson Multifamily developer BB Living has submitted a request to the Scottsdale Development Review Board for review and approval of BB Living at Cavasson, a 191-unit for-rent townhome…

By BEX Staff for AZBEX An Old Town Scottsdale residential development that once set off an unrelated controversy is set to begin construction early next year. The Goldwater Residences is planned as a five-story, 40-unit condominium community with 7.5KSF of ground-floor commercial space at 7000 E. 4th St. Headquartered in Spain, owner Adlanto secured approval for its plan to build the condo project from the Scottsdale Development Review Board in 2022. It was recently announced Plaza Companies has joined the development team to serve as “advisor, design and construction manager,” to provide “the local knowledge and relationships needed to make…

The City of Peoria may institute a permit process for entities using large volumes of City-supplied water. At its meeting last week, Council presented a draft ordinance that would require non-residential water consumers to obtain a permit for heavy water consumption. The ordinance is intended to uphold sustainability for Peoria’s water supply. Permitting would affect non-residential consumers using more than 50,000 gallons of water/day, on average, for a one-year period or consumers who use more than 100,000 gallons in a single day. Consumers would only be able to connect to a public water source after obtaining the Large Water User…

Giving Back 1. The PICOR Charitable Foundation held its 30th annual Pancake Breakfast Fundraiser and surpassed expectations. The Foundation raised $188K for youth programs in southern Arizona. The original goal was to raise $150K. The Foundation served pancakes to approximately 1,200 people. 2. Estrella collected the most donations for the 2024 West Valley Heart Walk at the City of Goodyear Civic Square, which supported heart disease research. Estrella, comprised of Team Estrella and Team Harvard Investments, raised $20.5K, the most among the 70 participating companies. Estrella led the Top 5 teams list with a $12.8K raise. Harvard Investments ranked fifth…

Sales Transactions 1. BentallGreenOak purchased the 1.1MSF Paloma Vista Logistics Center at 18900 W. McDowell Road near Interstate 10 and Loop 303 for approximately $118.3M. The property was sold by a joint venture of US Capital Development and Ares Management Corp. Cushman & Wakefield’s Will Strong, Michael Matchett and Molly Hunt facilitated the sale. Andy Markham, Mike Haenel and Phil Haenel are the leasing brokers for the property. The building is leased to Amazon.com Inc. 2. Cushman & Wakefield announced the firm advised the $19.05M sale of two manufacturing buildings totaling approximately 194KSF at 1250 and 1300 N. Fiesta Blvd.…

By Roland Murphy for AZBEX Two major industrial developments on Dysart Road were planned to take up most of the El Mirage Planning and Zoning Commission’s Nov. 12 meeting. If ultimately constructed, the proposals would add another data center to Microsoft’s PHX suite as well as slightly more than 1MSF of new build-to-suit and speculative industrial. Only one of the projects actually made it to the meeting, however. PHX-83 Microsoft has requested a site plan amendment for its collection of data center facilities at the SEC of Dysart Road and Olive Avenue. The existing site plan includes the PHX-80, PHX-81…

By BEX Staff for AZBEX As the once-stalled City North development near Desert Ridge in north Phoenix continues regaining momentum, a formerly canceled dual-branded hotel development is now back in the planning sphere. Overall development at the 100-acre City North master-planned site was struggling before Crown Realty and Development acquired it in early 2019, and then progress was waylaid by the pandemic and other issues. After acquiring City North in Jan. 2019, Crown spent nearly two years and $20M to develop the site’s infrastructure to prepare it as a mixed-use destination for hotels, office, multifamily, hospitality and other uses. Several…

Prescott City Council adopted a new Prescott Economic Development Strategic Plan at its Nov. 19 meeting. The report on the final draft was given by consultants Steven Pedigo and Laura Huffman of Civic Solutions. Notably, Prescott’s population is, on average, older than the typical American community, with a smaller percentage of residents in the workforce and a smaller percentage of residents in the “prime labor-pool age group.” Over the past five years, Prescott has seen a population growth of 9.5%, which is approximately three times the U.S. average. The population is currently 46,000 residents. A large portion of the growth…