Author: BEX Staff

Arizona’s population has grown 6% since 2020 and is up 1.5% between 2023 and 2024, according to the latest estimates from the U.S. Census Bureau. The state’s total population sits at almost 7.6 million people. Arizona is 10th for percent growth and eighth for numeric growth over the last year, which saw more than 109,000 new resident arrivals. Nine states added more than 100,000 people each between July 2023 and July 2024. The national population rose 1%, with Texas leading growth and adding 563,000 people. California led additions in the western region with more than 232,500. Despite California’s population gains,…

By Roland Murphy for AZBEX In its Jan. 9 meeting, the Pinetop-Lakeside Planning and Zoning Commission will consider a site plan and design review request from A-OK Builders to develop a 41.1-acre parcel at White Mountain Blvd. and Show Low Lake Road. Rustic Pines will consist of 61 residential units for sale, 163 rental units and 2.58 acres of commercial space. The for-sale units will feature a one-car garage with additional driveway parking. The rental area will have a total of 357 parking spaces. For-sale units will be available in two- or three-bedroom. The rental units are planned for a…

A recent analysis from Associated General Contractors of America reports Phoenix lost 3,700 construction jobs between November 2023 and November 2024, a decline of 3%. Phoenix’s decline made it the fourth-highest market in the country for construction job losses. Tucson lost a total of 100. Nationally, the sector added 10,000 in November, with 65% of markets seeing gains. Houston led gaining metros in terms of individual positions, adding 16,100 for a 7% increase. Anchorage, Alaska saw the highest percentage increase, rising by 1,800 jobs for a 17% gain. Markets leading losses included New York City and Portland, Ore., dropping 7,800…

On Dec. 18, Yuma City Council authorized the City to apply for Arizona State Match Advantage for Rural Transportation funds for infrastructure projects. The AZ SMART fund was created in 2022 by the Arizona Legislature. The funds are intended to assist municipalities, counties and the Arizona Department of Transportation to compete for federal grants. AZ SMART funds are available for federal discretionary grants. The funds are awarded by the discretion of the federal agency and not distributed by formula/allocation. ADOT requires applicants to have jurisdictional approval prior to applying for AZ SMART funds. The Yuma projects would include storm drain…

Awards & Accolades 1. Information Management Network recognized Lifestyle Homes as the architect, engineer and construction service company of the year during a dinner at the Fairmont Scottsdale Princess. Lifestyle Homes focuses on Build-to-Rent communities in Arizona and has completed more than 2,000 homes. 2. Trend Report announced the recipients of its 2024 Best-in-Class Broker Awards. The awards recognize professionals performing at the highest levels in commercial real estate in Pima County. Trend Report’s 2024 Best-in-Class Brokers are: Clint Wadlund, Hamid Panahi and Art Wadlund, Marcus & Millichap: Multifamily Sales (apartments more than 100 units); Allan Mendelsberg and C. Joey…

Sales Transactions 1. LaSale Investment Management purchased a five-building complex located on a 37-acre plot of land between Kyrene Road and Hardy Drive, just north of Elliot Road in Tempe. The five buildings combined equate to more than 500KSF of space. LaSale purchased the property from Investcore for $124M. LaSale is an affiliate of JLL Capital Markets, which previously marketed the warehouse complex. 2. Aligned Data Centers purchased a 100-acre site at the SEC of Reems Road and Olive Avenue in Glendale for $86.52M. The site was sold by Lex Reems & Olive LLC, an entity connected to LXP Industrial…

By Roland Murphy for AZBEX Urban Advisors is planning a new 400-unit luxury apartment development on 13.17 acres at the NEC of 17th Avenue and Happy Valley Road in north Phoenix. The Phoenix Planning Commission will consider a request to rezone the location to intermediate commercial with density and height waivers to accommodate the proposed development in its Jan. 2 meeting. The preliminary site plan for Cameron on Happy Valley calls for four buildings of up to 48 feet in height, as well as a 1.1KSF ramada/shade structure. The planned unit mix consists of 75 studios, 145 one-bedroom and 180…

AIA Phoenix Metro partnered with the City of Phoenix to create a competition focused on schematic designs for Accessory Dwelling Units. The open competition was supported by a national AIA College of Fellows Component Grant and drew entries from several states. Entries were required to focus on ADUs of no more than 1KSF. Minimum components included a kitchen, bathroom, sleeping area and separate access. Units could be attached to or detached from the primary residence. Winners were announced Dec. 3. Phoenix will consider additional development of some designs for an ADU Standard Plans Library to facilitate approvals and construction of…

A set of projects in south Phoenix that have been years in the making are expected to move forward with the approval of a new development agreement. The Phoenix City Council approved a development agreement with Krause Interior Architecture, Inc. for a new Resource Innovation Campus near Lower Buckeye Road and 27th Avenue. Undertaking the project as part of the C40 Cities Reinventing Cities Initiative, Krause will develop a 90KSF facility to convert waste into new resources. Krause officials said the goal is to enable companies to explore new technologies on the 20-acre campus. Work will be performed through public-private…

By GO Industrial GO Industrial has successfully acquired a 9.4-acre infill parcel in the airport market. The acquisition was made in partnership with Clarion Partners. Located at 3050 S. 35th St., along University Drive, the parcel sits on the southern border of Phoenix Sky Harbor International Airport. Ross Brown Partners facilitated the transaction, representing both the seller and the buyer. GO Industrial plans to begin demolition of the existing single-story office/light industrial building on the site by the end of Q1 2025. In its place, the company will develop Three Five Logistics, a state-of-the-art, 159,305 SF Class A industrial facility.…