Author: BEX Staff

By Roland Murphy for AZBEX In a rider amendment slipped quietly into a continuing budget resolution last week, both chambers of the Arizona State Legislature voted to effectively outlaw special interest opposition to proposed development projects around the state. The Governor then signed the bill into law in a guests-only, 3 a.m. ceremony March 28. Following the signing, the Governor’s Office released the following statement: “This bill has some useful stuff and some bad stuff. Most importantly, it keeps Arizona’s $16.2B budget from flaming out. I’m going to catch (grief) from everybody anyway, so here it is. You guys figure…

The City of Phoenix’s planned 2025-2030 Capital Improvement Program features 966 projects with a total expected value of $11.5B. Of that total, $2.8B is planned in the coming fiscal year, and Phoenix has a total of $387M remaining under the $500M general obligation bond approved by voters in 2023. The draft program will go through several meetings to solicit public feedback, with a final version planned for City Council review and adoption in June. All told, five departments will receive the lion’s share of project funding, with planned allocations under those headings totaling 83% of the total planned expenditures: Water:…

By BEX Staff for AZBEX The Buckeye Planning and Zoning Commission has recommended approval of a rezoning request by Sunbelt Investment Holdings, Inc. for a 160-acre mixed-use development at the SWC of Verrado Way and Yuma Road that will include single- and multifamily residential, retail uses and a business park. Along with the rezoning from single-family residential to planned area development, SIHI is requesting a minor General Plan amendment and annexation of the Maricopa County property by the City of Buckeye. The site condition description in the submitted narrative says, “This site is part of a former dairy farm, which…

Giving Back 1. MC Companies ranked as the third-highest food donor for Move For Hunger’s food drive nationwide with 10,399lbs of food. While the companies that donated slightly more than MC Companies each managed more than 85,000 units, MC Companies manages only 7,600, highlighting a much higher donation-to-unit ratio. 2. The HDR Foundation donated $324K to the All Kids Bike Kindergarten PE Learn-to-Ride Program at Rover Elementary. This funding will cover teacher training and certification, a complete Learn-to-Ride curriculum, 24 balance-to-pedal bikes, pedal conversion kits, student helmets, a teacher instruction bike, and rolling storage racks. To date, the HDR Foundation…

Sales Transactions 1. Copper Point Business Parkat 3530 S. Val Vista Dr. in Gilbert was recently sold to Transwestern Real Estate Services. The 83.4KSF building was sold by RX Health & Science Trust for $36M. The two-story office space mostly consists of medical tenants. 2. A five-property industrial and retail portfolio was purchased by Larsen Baker for $8M. Four of the buildings are in Tucson, while the final building is in Phoenix. Combined, the five buildings total 126.7KSF. Sydco Realty Company sold the properties. Each building came with tenants, and the new owners are currently planning renovations. Both companies were…

By CJ Jorgensen and Roland Murphy for AZBEX The United States has seen a steady improvement in its nationwide infrastructure throughout the past four years. Despite this, plenty of areas are still in dire need. The American Society of Civil Engineers recently released its 2025 Comprehensive Assessment of America’s Infrastructure report, giving the United States an overall grade of C. Arizona has benefitted from significant infrastructure funding over the last five years. A thorough breakdown of Arizona’s section ratings and a review of some of the infrastructure investments in the state follows below. The National Details ASCE has been releasing…

By Roland Murphy for AZBEX Relying on an unusual legislative technique that allows the replacing of a previous bill’s text with entirely new language, the Arizona Legislature is once again considering changes to State law that could empower one of Arizona’s top employers to build the project it says is essential to its continued residence in the state. Representative Tony Rivero put forth an amendment to Senate Bill 1543—a bill that had looked to address homestead exemptions—that would, instead, create approval exemptions for companies seeking to build international headquarters with mixed-use campuses in cities of between 200,000 and 500,000 residents.…

The Eloy City Council has voted to approve a planned area development change for 122 acres of a 938-acre total site that would allow for the development of a new solar energy farm and battery energy storage system west of Toltec and Milligan roads near Arizona City. A local news outlet reported the request had originally been scheduled for a hearing in January, but it was tabled until March to let the developer revise the site layout to increase the buffer zone to increase distance between the site and nearby residents. According to project materials submitted with the requests, Poblano…

The City of Mesa is looking at ways to improve its convention center and amphitheater to drive economic activity downtown. The upgrades may provide the City with the ability to bring in more events with a higher quality, according to consultants. Conventions, Sports & Leisure International provided a 190-page report listing recommended improvements to meet Mesa’s needs. CSL’s report analyzed various venues in the Valley and interviewed event workers to determine an optimal direction for the amphitheater. Many interviewees described Mesa’s amphitheater as dated. Many also brought up the concern of restrictions caused by the adjoining hotel and ballroom. Others…

Awards & Accolades Winners of the Real Estate Development Awards have been announced. The awards given were as follows: Suntec Concrete as Subcontractor of the Year. Ware Malcomb as Architecture Firm of the Year. Layton Construction as General Contractor of the Year. Prologis as Developer of the Year. Larry C. Kennedy Elementary School as the K-12 Education Project of the Year: Owner: Creighton School District; Developer: Facilities Management Group; General contractor: CHASSE Building Team; Architect: Weddle Gilmore Architects. Mayo Clinic Integrated Education and Research Building as the Higher Education Project of the Year: Owner: Mayo Clinic; General contractor: DPR Construction;…