Author: BEX Staff

A generation from now a $4.1B desalination plant in Sonora could help alleviate worst-case-scenario water woes in Pima County.  A Pima County Regional Wastewater Reclamation Department study examined possible water sources if Central Arizona Project’s Colorado River water supplies dry up and the county population grows to 1.5 million by 2100.  One possible solution is a desalination plant that is proposed to convert saltwater from the Sea of Cortez and then move it nearly 200 miles by pipeline to Pima County.  Officials place the project as roughly equivalent in scale to the creation of CAP, which cost $4B in 1993 dollars. The CAP authorization process started in 1968, and its development took nearly 40 years to complete.…

Lumber prices have begun to settle after hitting a record high of $1,515/thousand board feet in May.  Prices fell to $472 in the first week of August, comparable to summer 2018 prices.  The adjustment has been attributed to producers ramping up supply as developers and buildings planned project delays or switched to other building materials. That materials shift, however, also caused price increases in other construction inputs, such as steel. Bloomberg reports international steel producers have, so far, not increased production.  Single-family and low-rise multifamily projects had been hardest hit by the lumber price spikes and were most likely to have experienced delays. (Source) 

By Associated Builders and Contractors  Construction input prices rose 0.6 percent in July, according to an Associated Builders and Contractors analysis of U.S. Bureau of Labor Statistics’ Producer Price Index data. Nonresidential construction input prices increased 0.8 percent for the month.  Construction input prices are 23.1 percent higher than a year ago, while nonresidential construction input prices increased 23.4 percent over that span. Energy prices continue to experience substantial year-over-year price increases. The price of natural gas is up 146.7 percent, while crude petroleum and unprocessed energy materials prices are up 102.9 percent and 93.8 percent, respectively. Prices for steel mill products increased 10.8 percent for the month and are up 108.6 percent for the year.  “One’s definition of transitory needs to evolve with these data,” said ABC Chief Economist Anirban Basu.…

Awards & Accolades  1. The Phoenix Journal recently published their Top 40 Under 40 for 2021. The Commercial Real Estate and Architecture, Engineering and Construction Industry honorees are:  Amanda Elliott – Redevelopment Program Manager for Town of Gilbert  Chris Hanson – Founder of Hanson Capital Group  Kris Pugsley – Senior Director, Marketing & Communications for ON Semiconductor  Tiffany Sharp – Owner of Sharp Construction LLC  Michael Stafford – CFO for LGE Design Build  Boards & Commissions  2. The Pinal County Board of Supervisors on August 4th passed a resolution recognizing Gold Canyon Community Inc. as a valuable partner for enhancing community outreach and receiving community input on projects and issues affecting the Gold Canyon area and…

Sales Transactions  1. American Realty Advisors has acquired Goodyear Logistics Center, a 901.7KSF Class A industrial asset at 575 S. 143rd Avenue in Goodyear for an undisclosed amount. The undisclosed seller was represented by CBRE National Partners. The property is being managed by Lincoln Property Company and is currently being leased by Cooper Fratt of CBRE.  2. Acacia Capital Corporation purchased Arrive Ocotillo, a 272-unit multifamily community in Chandler for $95.65M. CBRE’s Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch of Phoenix Multifamily Institutional Properties represented the seller, FPA Multifamily.  3. Macquarie Asset Management purchased CASA, an experiential, Class A office redevelopment bringing next-generation amenities at 7878 N. 16th Street, Phoenix, for $56.5M. JLL’s Benjamin Geelan and Brian Ackerman represented George Oliver on the building sale.  4. Dansons purchased…

By Tasha Anderson for AZBEX Suntereo Real Estate Services, LLC is proposing to build a new active lifestyle assisted living facility within the Palm Valley Phase II Planned Area Development of Goodyear. Located at the SWC of Litchfield Road and West Virginia Avenue, the 6.15-acre property is the last remaining parcel in the Phase II PAD. Suntereo recently submitted a request to the City of Goodyear for a Use Permit. The project, known as The Fairways at Palm Valley, is proposed as a two-story, 132-unit active lifestyle assisted living facility consisting of 18 studio, 64 one-bedroom, 24 one-bedroom plus den…

In its first major Arizona investment, Facebook has announced it plans to build a 960KSF, $800M data center in Mesa on Ellsworth Road north of Elliot Road. The Greater Phoenix area, and Mesa in particular, have become nationally recognized for data center developments, particularly in the area in and around the Elliot Road Tech Corridor. Facebook officials said Mesa was selected because of infrastructure, workforce and support from various government outlets. Mesa is not providing financial incentives for the development. Facebook has 14 data centers in the U.S. The company has pledged the Mesa facility will be among the world’s…

The City of Tempe has pushed back the request for proposals deadline for a new sports arena/mixed-use development at the NEC of Rio Salado Parkway and Priest Drive from August 19th to September 2nd. It has been speculated the extension was issued to give submitters more time to include public safety studies. The Arizona Coyotes, who have long sought to leave their home at Gila River Arena in Glendale for a location in the East Valley, are expected to be the primary applicant for the site. Tempe wants to see an arena, 1,000 units of residential, 200KSF of retail, and…

The Town of Queen Creek Procurement Division has partnered with ProcureNow and is excited to announce our transition from a modified paper-based bid solicitation process to a fully automated web-based electronic bidding and vendor management system. To continue to receive bid notifications, uses will want to check the Purchasing home page on the website and the new e-Procurement Portal located there. The new e-Procurement Portal will allow prospective Vendors and Suppliers the ability to: Register to receive notifications of future opportunities by signing up for the new e-Procurement Portal and selecting the “Subscribe” button to create an account. Follow along with updates…

Groundbreakings  1. IDM Companies announced construction has commenced on Acero Queen Creek Station, a 476-unit multifamily apartment community at the NWC of S. Ellsworth Loop and E. Rittenhouse Roads, Queen Creek. BMA Architecture is the design firm and IDM Companies is the general contractor.  2. Anthem Community Council officials broke ground on a $1.44M renovation to expand the existing area skatepark on Gavilan Peak Parkway and Anthem Way and allow a combined space for bicycles, scooters and skateboards. The project is expected to be complete in either December or January.  Progress Reports  3. The new 238-room, eight-story Hyatt Place Phoenix/Downtown hotel is set to open in the heart of Phoenix’s revitalized downtown area in September of…