Author: BEX Staff

Groundbreakings 1. Sundt Construction, Inc. recently returned to the University of Arizona campus to renovate the Old Chemistry Building it originally built in 1936. The renovation will consist of 55KSF. Additionally, the team will add a new three-story, 23KSF building consisting of offices, classrooms and a relocated machine shop and nuclear magnetic resonance space. Construction is scheduled for completion towards the end of 2022. Shepley Bulfinch is the architect on record and Poster Frost Mirto will consult on historic preservation. 2. McShane Construction Company has begun construction on Springs at Eastmark, a 276-unit, garden-style multifamily community in Mesa. The development…

By Tasha Anderson for AZBEX Owner, Advanced Acquisitions, LLC, an affiliate of Cavan Companies, is looking to develop a new 191-unit bungalow-style rental community located at the SWC of Florence Boulevard and N. Via Del Cielo Road in Casa Grande. A request for Major Site Plan Review and Major PAD Amendment to the Los Prados PAD was submitted to the City of Casa Grande by RVi Planning + Landscape Architecture, on behalf of the owner. The request was heard and recommended for approval at the city’s Planning and Zoning Commission meeting on June 3rd. According to the project documents submitted…

Crystal Lagoons Island Resort has announced it has entered into an agreement with Mattel, Inc. to add a Mattel Adventure Park to its planned theme park and resort project in Glendale. The partnership will create Mattel’s initial foray into theme parks and will feature attractions branded on the company’s popular products, such as a Hot Wheels roller coaster and a Thomas the Tank Engine electric passenger train, along with go-karts, dining and retail outlets. A groundbreaking ceremony for the adventure park was held last week. Both facilities are expected to open before the 2023 Super Bowl. (Source)

By Brad Johnston for SCS Engineers Brownfields may not be the first locations that come to mind when considering your next project. SCS Engineers, an environmental consulting firm with 40 years of experience in Arizona, offers tips when considering whether Brownfields sites can work for your project. Funding Sources The U.S. Environmental Protection Agency and Arizona Department of Environmental Quality have grant programs that can pay for assessment and cleanup of brownfields. These programs are typically only available to governmental and non-profit organizations, but a private entity may be able to team with these eligible parties. Local governments or other…

Awards & Accolades 1. Taylor Morrison has earned a coveted spot on the Fortune 500. Taylor Morrison climbed 115 spots from its 2020 position to No. 452 and is one of 39 newcomers to this year’s list. Taylor Morrison’s debut on the Fortune 500 represents the culmination of a multi-year strategy to build a best-in-class organization focused on maximizing shareholder value while creating a reputation of quality construction and holdings, with an unparalleled customer experience. Company News 2. Mosaic and its building partner Mandalay Homes have hit a new milestone, with the construction of more than 315 homes for Arizona…

Sales Transactions 1. Reserve 100 LLC, an affiliate of Blandford Homes won the auction of 373 acres of State Trust Land at Chandler Boulevard between 19th and 27th Avenues, Ahwatukee, with a bid of $175.5M. In winning the auction, Blandford bested Pulte Homes, DR Horton and First American Trust. 2. S2 Residential purchased the 161-unit Daybreak Gardens Apartments, 5225 E. Thomas Road, and the 211-unit Daybreak Place Apartments, 815 E. Bethany Home Road, for a total of $66.9M. Newmark’s Brett Polachek, Brad Goff and Chris Canter represented the seller, Place Properties II & III. 3. Decron Properties purchased 1221 Broadway,…

By Tasha Anderson for AZBEX A new office/warehouse development is being planned for a 26.2-acre site at the SWC of Insight Way and Gilbert Road in Chandler. LGE Design Group, on behalf of developer, Clarius Partners LLC, recently submitted a request for Preliminary Development Plan review for site layout and building architecture for the project known as Chandler Airpark Technology Center. Chandler Airpark Technology Center is proposed to house four buildings totaling approximately 425.7KSF and will be constructed in two phases. Phase one will include Buildings A and B which will be used as flex industrial buildings. Building A will…

By Home Matters to Arizona Home Matters to Arizona, which is planning a $100M fund over two years to finance affordable housing projects in Arizona, announces a second round of grant recipients that will receive a total of $750K. The fund also announced the third round of grants applications open June 15th. Home Matters Arizona Fund is prioritizing and funding promising projects throughout the state that are positioned to demonstrate measurable and positive outcomes focused on specific populations, geographic areas and the community at-large. The fund addresses Arizona’s rising affordability crisis while paying attention to the role of housing justice…

By CBRE Investment in U.S. net-lease properties was close to pre-pandemic levels in Q1 2021, driven by robust sentiment, 1031 exchange requirements, increased interest in office assets as return-to-the-workplace plans gained momentum and, despite COVID-19-related international travel restrictions, resilient foreign investment, according to the latest research from CBRE. Net-lease properties are characterized by a lease structure in which the tenant agrees to pay the building operating expenses such as taxes, insurance fees and maintenance costs in addition to the base rent. While US net-lease investment activity (comprising office, industrial and retail properties) decreased by 2.6 percent year-over-year in Q1 2021 to…

Groundbreakings 1. Taiwan Semiconductor Manufacturing Co Ltd has started construction in Phoenix where it plans to spend $12B to build a computer chip factory. The planned factory remains on track to start volume production of chips using the company’s 5-nanometer production technology starting in 2024. The design firm has not been disclosed and Austin Commercial Group is the general contractor. 2. Ryan Companies US, Inc., Harrison Street and Cadence Living announced the financial closing of Acoya Shea, a 147-unit luxury senior living community in Scottsdale and also announced that construction will begin this month. Ryan Architecture + Engineering is the…