Author: BEX Staff

By Associated Builders and Contractors National nonresidential construction spending declined 0.9 percent in June, 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 $779.9B for the month, down 6.6 percent from one year ago. Spending was down on a monthly basis in eight of 16 nonresidential subcategories. Private nonresidential construction spending fell 0.7 percent, while public nonresidential construction spending fell 1.2 percent in June. Year-over-year spending was down in 15 categories. Private nonresidential construction spending has declined 6 percent on a year-ago basis, while…

Awards & Accolades 1. The Arizona Masonry Council selected the City of Flagstaff Municipal Court Facility as a winner in their “30th Annual Excellence in Masonry Architectural Awards” competition. The new Flagstaff Municipal Court is a three-story, 40KSF, $19.5M, Green Globes certified facility. Serving as Design-Build Contractor, Kinney Construction Services, Inc. (KCS) worked collaboratively with the City of Flagstaff and the architect, CGL Companies. Design engineering support was provided by Energy Systems Design, Inc. (ESD), Caruso Turley Scott (CTS), and Shepard Wesnitzer, Inc. (SWI). 2. Phoenix Sky Harbor International Airport has been accredited by Airports Council International (ACI) for providing…

By Tasha Anderson for AZBEX Approximately 110 acres of land in Tucson, just west of Interstate 10 between Prince Road and Miracle Mile, may become a progressive, mixed-use interstate commerce campus. A request to rezone the property from R-1, O-3 and C-2 to Planned Area Development Zoning was recently submitted to the City of Tucson by The Planning Center, on behalf of the property owner Gary Brav and the Arizona Board of Regents. The current PAD consists of vacant land, a storage yard for construction materials and agricultural and educational facilities associated with the University of Arizona. Known as the…

By SLS Hotels & Residences Accor, in collaboration with Dakota Development and DESCO, Arizona, LLC, has announced SLS Scottsdale will open its doors in June 2023. The world class property will bring 235 hotel rooms including 30 luxury suites spanning just less than 222KSF above and below grade of refined hotel, dining, bar and event space to Scottsdale. Two floors of entertainment space alongside sbe’s top culinary and mixology experiences will ensure this new property speaks to the most discerning guest. The arrival of SLS Scottsdale’s opening is a testament to the SLS brand’s longstanding reputation and experience in creating and delivering extraordinary,…

By KORE Power, Inc. KORE Power, Inc. has announced the first lithium-ion battery manufacturing facility wholly owned by a U.S. company will be built in Maricopa County. The 1MSF manufacturing facility, dubbed The KOREPlex, will support up to 12 GWh of battery cell production to ensure a reliable and independent U.S. supply chain for lithium-ion battery cells that are critical to the future of electric vehicles, power grids and more. The facility will have the capacity to produce enough power for 3.2 million homes each year. KORE plans to start construction of the facility by the end of the year…

Apartment rents in Tucson went up two percent in the last month, according to data from Apartment List. Year-over-year, rents in the city have increased 13.5 percent, and rents have increased every month for the last 14. While still more affordable than many similarly-sized cities, median rent in Tucson is at $899 for a one-bedroom and $1,201 for a two-bedroom. Rents have been rising across Arizona. The state average rent growth is 21.0 percent, far exceeding the 10.3 percent national average. (Source)

Giving Back 1. The David R. Sellers Foundation has partnered with the Scott Keppel Foundation to raise $20K towards their mission of helping those impacted by cancer, obesity, domestic violence and/or helping local pet shelters. The fundraising campaign titled “The Unbreakable Challenge” brought people together through a community strength training session, while educating participants on the importance of physical fitness and holistic health. 2. Rosendin welcomed Phoenix-native and Arizona State University student Christina Fisher to its 2021 Summer Internship Program. This year’s intern class is comprised of 65 students from 35 colleges and universities from across the country. Rosendin’s internship…

Sales Transactions 1. Sares Regis Group purchased Elevation Chandler, a boutique, 163-unit apartment complex in Chandler for $56.15M. Steve Gebing and Cliff David with Institutional Property Advisors (IPA), a division of Marcus & Millichap, procured the buyer and represented the seller, Olympus Property. 2. WhiteHaven Capital purchased Strayhorse Arrowhead Ranch, a 136-unit apartment property at the NWC of the Loop 101/Agua Fria Freeway, Glendale, for $45M. Steve Gebing and Cliff David with Institutional Property Advisors (IPA), a division of Marcus & Millichap, procured the buyer and represented the seller, Shelter Asset Management. 3. Rise48 Equity purchased Brookside Apartments, a 204-unit…

By Rebekah Morris for AZBEX As we cross the midpoint of the calendar year, the Arizona construction industry is working harder than ever and constantly adapting to changing market conditions. Here are some of the biggest trends happening in the local market: Statewide Construction Volume Rises, but at a Slower Pace Statewide construction volume continues to increase year-over-year (YOY), but the pace of increases has slowed noticeably. Starting in 2017, statewide construction volume has notched no less than 13 percent YOY gains; however, since the beginning of 2021, the pace of increases has slowed dramatically, with the YTD increase pegged…

By Tasha Anderson for AZBEX America’s Rehab Campuses (ARC), a full continuum care behavioral health and substance abuse treatment center with a facility in Tucson, is planning to expand into Phoenix with a new facility at 12425 N. 19th Avenue. The new facility will sit on approximately 7.8 acres and will consist of several buildings including two 10.5KSF residential treatment centers (RTC) and two 5KSF sober living buildings. The residential and sober living buildings are separated into two buildings each for men and women. The residential treatment centers will house a total of 80 beds and the sober living buildings…