Author: BEX Staff

By Tasha Anderson for AZBEX The Hotel Tucson City Center, a 279-room hotel at 475 N. Granada Avenue, is expected to be transformed into a new 15-building, 364-unit multifamily residential development called CITYcenter. Lazarus & Silvyn, PC, on behalf of developer, Sterling Real Estate Partners, submitted a request to the City of Tucson, for the rezoning of the 10.37-acre property from I-1 Industrial to C-2 Commercial. Sterling Real Estate Partners is planning an adaptive reuse of the seven-building hotel and new construction of eight additional buildings. CITYcenter will house a mix of 145 studio, 150 one-, and 69 two-bedroom units.…

By Associated Builders and Contractors The nation’s construction industry added 11,000 jobs on net in July, according to an Associated Builders and Contractors analysis of data released by the U.S. Bureau of Labor Statistics. Overall, the industry has recovered 886,000 (79.6 percent) of the jobs lost during earlier stages of the pandemic. Nonresidential construction employment expanded by 2,900 positions on net, though more than 100 percent of the gains were among nonresidential specialty trade contractors, which added 7,500 jobs. The nonresidential building (-2,500) and heavy and civil engineering (-2,100) segments both lost jobs in July. The construction unemployment rate fell…

Soaring prices for lumber, steel, concrete and other traditional materials have some builders looking at hemp as a less expensive and more abundant alternative. Before modern-era prohibitions due to its association with marijuana used as a drug, hemp had enjoyed extensive use as a material, particularly in textile and paper production. Some builders are now taking another look at hemp, as it can be used as a primary material for components such as walls and flooring, insulation, and even in brick and blockwork as hemp adobe. Advocates also note that as a seasonally regrown plant, it is highly renewable and…

Awards & Accolades 1. As part of the design-build team for Arizona University’s Lantana Hall, Shepley Bulfinch along with CORE Construction and Capstone Development Partners was awarded the 2021 Student Housing Business Innovator Award for Best Use of Green & Sustainable Construction/Design. Completed in the summer of 2020, the LEED (Leadership in Energy and Environmental Design) Platinum certified student housing project, and the only one on any of ASU’s campuses, is an example of how a public-private partnership and integrated design-build team can come together to create an important, sustainable piece of campus fabric. Company News 2. ORION Investment Real…

Sales Transactions 1. A California-based buyer purchased Sky Ancala Apartments, a 330-unit luxury apartment community at 11545 N. Frank Lloyd Wright Boulevard, Scottsdale, for $104.5M. ABI Multifamily’s Phoenix-based Institutional Apartment Group – Alon Shnitzer, Rue Bax, Eddie Chang, and Doug Lazovick represented the buyer and Canada-based seller. 2. American Realty Advisors purchased the 901.8KSF Lincoln Logistics 40, located at 143rd Avenue and Van Buren Street, Goodyear, for $103.2M, from Nike. Nike bought the building in 2019 for $69.8M, but never opened the factory that was planned. 3. A Southern California investor purchased Superstition Canyon, a 200-unit multifamily community at 1247…

By Tasha Anderson for AZBEX The Navajo Health Foundation – Sage Memorial Hospital is set to develop a new 176KSF campus in Ganado and has recently issued a Request for Proposals for an Owner’s Representative to oversee the project. The project consists of a 95KSF critical access hospital replacement, a 41KSF medical office building and 40KSF of multifamily housing for staff. The hospital will include an emergency department, diagnostic imaging, clinical laboratory, cath lab, physical therapy, medical-surgical acute care, intensive care unit, inpatient pharmacy and more. The medical office building will house outpatient primary care and specialty care clinics, behavioral…

By GO Industrial Phoenix-based GO Industrial has embarked on its first metro Phoenix development, purchasing 77 acres in the West Valley submarket for the development of GO | 99. The new project will total three buildings and more than 1.2MSF in one of the nation’s most active industrial markets. GO Industrial purchased the land site, located at the SEC of Buckeye Road and 99th Avenue, for $23.55M. It will break ground on GO | 99 in December, with completion expected during fourth quarter 2022. Buildings 1 and 2 at GO | 99 will provide rear-loaded, mid-bay configurations and will total 247KSF…

By Colliers in Arizona The Greater Phoenix Medical Office Building market is posting positive net absorption and rising rental rates as the city experiences nationally recognized population growth, according to a report released by Colliers in Arizona. Positive net absorption of medical office space during second quarter totaled 206.4KSF, recovering from first quarter’s negative net absorption and bringing the year-to-date net absorption to 173.3KSF. Arrowhead posted the largest net absorption for the quarter with 111.7KSF, followed by Glendale at 44.7KSF. Approximately 47 percent more deals were signed during second quarter, marking a rise of 49 percent year-over-year. Vacancy has declined…

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…