Author: BEX Staff

The Arizona Power Plant and Transmission Line Siting Committee’s hearing for Tucson Electric Power’s Kino to DeMoss-Petrie 138-kilovolt transmission line has been delayed until February 7th. Originally scheduled for September 13th, the Committee delayed the hearing to permit more time for discussions between stakeholders. The planned project would connect TEP’s Kino substation near Kino Parkway and 36th Street to the substation near I-10 and Grant Road via an overhead powerline. The proposal has generated controversy between the utility and residents who want the line buried to protect views and property values. The City of Tucson has joined in opposing the…

Labor Department data shows an 8.3 percent year-over-year increase in inflation at the wholesale level versus August 2020. The leap is the largest since the Department began tracking in 2010. The Producer Price Index was up 0.7 percent in August, following one percent increases in both June and July. The recession brought about by the pandemic, along with COVID-related supply chain impacts, are partly to blame for price spikes. Core producer prices, which exclude food and energy, were up 0.6 percent from July levels and up 6.7 percent year-over-year. (Source)

While lumber prices have finally been coming down, production and delivery issues with steel goods have caused the prices for those materials to surge by 81.3 percent. Associated General Contractors of America Chief Economist Ken Simonson reported July was the sixth consecutive month of increases more than 10 percent for construction inputs. Many experts predict price increases will continue until at least the end of the year. Other inputs seeing price increases of at least 30 percent include asphalt, plastic water pipe, wood window and door frames, and copper pipe and tubing. (Source)

Giving Back 1. The David R. Sellers Foundation, named for the founder of LGE Design Build, has contributed $42,250 to the Saving Amy Foundation during the month-long campaign “Changing Lives in 30 Days.” The Foundation raised $22,250. LGE Design Build contributed $10K and local investment and real estate development firm Creation, contributed $10K. Company News 2. Factory-built home manufacturer Cavco Industries Inc. introduced a brand refresh earlier this month, unveiling a new logo and color palette. 3. Consulting firm Earthworks Environmental recently celebrated its 7th year anniversary. The company now has 54 employees nationwide and has performed work in 17 states,…

Sales Transactions 1. CBRE announced the sale of the multifamily communities Ascend at Kierland and Elite North Scottsdale to The Ezralow Company for $312.5M. CBRE’s Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch of Phoenix Multifamily Institutional Properties represented the seller, a joint venture of Bascom Arizona Ventures and Pacific Life Insurance Company. 2. Berkadia managed the sale and secured financing for a four-property multifamily portfolio of 892-units in metro Phoenix. Properties consisted of Banyan Tree, Belcourt, Coronado and Ridgeway Village Apartments. Senior Managing Director Ric Holway, Senior Director Dan Cheyne and Senior Managing Director Mark Forrester of Berkadia Phoenix completed the $155.75M sale on…

We don’t do this often… In fact, we can’t remember the last time we gave away all our good stuff for free, but hey, it’s a new week and we’re feeling generous. Below is a link to ALL the current procurements we track in the AZBEX Digital Magazine. Normally this stuff is reserved for our paid subscribers only, but we wanted to share with you what they get twice a week. In this link you’ll find sections based on the type of work request – Design RFQ’s vs. Construction bids and RFQ’s, On-Call procurements and more. If you haven’t seen…

By Rebekah Morris for AZ Builder’s Exchange, LLC For the fourth year in a row, Phoenix has eclipsed all other municipalities in the state with the largest planned investment in public assets. The total of its five-year Capital Improvement Plan clocks in at $8.248B and provides funding for a wide range of capital projects including parks, roads and streets to libraries, airport improvements, and public safety facilities and equipment. This year’s total investment decreases from last year’s level by -2.91%. The top five areas for investment are: Aviation, Public Transit, Street Transportation, Wastewater and Water. Collectively, these five departments represent…

By CapRock Partners CapRock Partners has announced the development commencement of CapRock West 202 Logistics, the largest speculative industrial real estate project in the history of the City of Phoenix. CapRock is transforming one of the largest remaining infill land sites in the Southwest Phoenix submarket into a state-of-the-art eight-building, Class A industrial warehouse complex totaling 3.4MSF. The project will be highly accessible to key logistics transportation routes and bring much needed modern warehouse space to the Phoenix metropolitan statistical area as it continues to experience robust population and employment growth. CapRock secured the land for the project’s development via…

By KORE Power, Inc. KORE Power, Inc. announced its KOREPlex facility in Buckeye will be built by nationally recognized advanced manufacturing design-build company Yates Construction. Some of the advanced manufacturing attributes of the KOREPlex will include fully automated cell assembly lines, automated material movement and handling, an automated packaging line, and a pandemic-ready design to allow for safe workspaces. The facility will be fully climate-controlled and will include a solar-ready covered employee parking lot. The KOREPlex will produce nearly 60 million battery cells annually to support a reliable and independent U.S. supply chain for lithium-ion battery cells, which are critical…

Arizona is one of several locations under consideration for a $400B utopian smart city project planned by billionaire former Walmart executive Marc Lore. His vision for Telosa would create a sustainable city covering approximately 150,000 acres over 40 years that would become home to 5 million residents. The first phase would be constructed by 2030 for 50,000 residents in a 1,500-acre circular neighborhood. Once built, that neighborhood would be encircled by additional 1,500-acre neighborhoods. Building in Arizona would be challenging, according to real estate experts, because there are no convenient privately owned spaces available to accommodate a project of that…