Author: BEX Staff

By Great Hearts Academies In response to increasing demand, representatives of Great Hearts Academies have announced an expansion of its network of nonprofit public charter schools. Roosevelt Preparatory Academy is slated to open in fall of 2022 in Buckeye, and the doors of an upsized and newly built permanent home for Anthem Preparatory Academy will open for the 2022-23 school year. In addition to the two new builds, Great Hearts is also expanding its current Trivium Preparatory Academy to increase capacity. The first is the expansion of the current Archway Trivium and Trivium Preparatory Academy. The demand in the West Valley has increased, and to accommodate this growth, Great Hearts will be adding two new sections per grade at Archway Trivium to serve more students, adding new classrooms for Trivium Prep, building an additional multi-purpose room, and readjusting…

By Central Arizona CCIM Chapter The Central Arizona CCIM Chapter is making it easy for industry professionals to stay ahead of changing technology, market conditions and government regulations by taking a Ward Center workshop for real estate studies. Real estate remains one of the largest contributors to gross domestic product across the globe. Whether it’s changes in the economy, the local market, or government programs and regulations, real-time information from the industry’s most renowned thinkers and practitioners is crucial. Non-members taking the first workshop course will receive 2021 Chapter membership free. The first workshop course, “Lease Modification Strategies & Solutions”…

By Rider Levett Bucknall International property and construction consultancy firm Rider Levett Bucknall has released its latest Crane IndexÒ and Quarterly Cost Report. Together, the two documents provide an eye-opening perspective on the North American construction industry in 14 key markets. The latest quarterly cost report data show that despite the slow-down in construction, the combined effects of material price increases with challenges in maintaining the supply chain have sent costs escalating back to the familiar range of one percent per quarter (four percent annualized). In the last 12 months, construction materials prices have increased strikingly. The price of copper…

Groundbreakings 1. City of Avondale broke ground on The BLVD Water Features project, which includes two signature entrance water features, a one-acre lake, koi pond, splash pad, pedestrian bridges, and inviting landscaping at Avondale Boulevard and Dale Earnhardt Drive. A virtual groundbreaking was hosted on Monday, April 5th. J2 Engineering & Environmental Design is the design firm and Willmeng Construction, Inc. is the general contractor. The $4.8M project is expected to be completed in August 2021. 2. Tesla Inc. is building a 30KSF service center in Glendale’s Westgate Entertainment District at the corner of 93rd and Glendale Avenues. This expansion…

By Tasha Anderson for AZBEX The City of Glendale’s Planning Commission recently heard a request to rezone approximately 33 acres at the NWC of 99th Glendale Avenues, for a new mixed-use development which will include multifamily, a medical office building, assisted living and commercial/retail uses. The request was made by Burch & Cracchiolo, P.A., on behalf of developers, Mangat Investments II, LLC and Continental 562 Fund, LLC, for a Minor General Plan Amendment from Business Park to Entertainment Mixed-Use and to rezone the site from Agricultural to Planned Area Development. The request was heard and recommended for approval by the…

By Colliers Calgary-based APEL Extrusions has purchased 22.6 acres of land at the SEC of the new Loop 202 Freeway and Lower Buckeye Road. The property will be the site of a new 323.8KSF headquarters and manufacturing facility. Plans call for North America’s leading aluminum extrusion company to expand its West Coast operations to Phoenix in late 2022 with plans to move the company’s headquarters to follow. APEL Extrusions intends to hire approximately 200 employees at the new location and will begin recruiting for management, administrative, engineering, technical services and labor positions mid-year 2022. Becknell Industrial sold the property to…

By Associated Builders and Contractors National nonresidential construction spending declined 1.3 percent in February, 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 $789.5B for the month. On a monthly basis, spending was down in 13 of 16 nonresidential subcategories. Private nonresidential spending was down 1.0 percent, while public nonresidential construction spending fell 1.8 percent in February. Nonresidential construction spending has declined by 6.1 percent from the same time last year. “We remain in the midst of the COVID-19 pandemic, which has shattered commercial…

Awards & Accolades 1. Terracon Consulting, Inc. announced that Senior Staff Geologist Briana Li-Vidal, who has been with the firm for three years, earned the title of Registered Geologist (R.G.) and was honored with Terracon’s 2020 Emerging Leader Award for the Rocky Mountain Division. Boards & Commissions 2. The Maricopa Economic Development Alliance recently went through a makeover in 2020, dubbed MEDA 2.0 and recently hired long-time board member Adam Saks as new executive director. Company News 3. Land Advisors Organization announces the formation of its Land Conservation team, which specializes in facilitating real estate transactions that conserve important land…

Sales Transactions 1. BPM Real Estate Group purchased PetSmart’s corporate headquarters campus at 19601 N. 27th Avenue, Phoenix, for $110M. The property includes three, four-story buildings as well as a six-level parking structure. CBRE’s Barry Gabel, Chris Marchildon and Will Mast along with Newmark’s Kevin Shannon, Ken White and CJ Osbrink represented the undisclosed institutional seller. Newmark’s Nick Kucha represented the buyer. 2. A New York-based pension fund advisor purchased Almeria at Ocotillo, a 389-unit multifamily community in Chandler, for an undisclosed amount. CBRE’s Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch of Phoenix Multifamily Institutional Properties represented the…

By Tasha Anderson for AZBEX Tucson Electric Power Company is proposing to construct a new 138 kilovolt (kV) electric substation on north Vine Avenue near the Banner University Medical Center in Tucson. The project, known as the Vine Substation – which was formerly known as the UA North Substation – will be located on approximately 1.6 acres at 1602, 1610, 1640 and 1730 North Vine Avenue. The site currently houses the University of Arizona Facilities Management and Maintenance Operations Center, “which includes warehouses for parts storage, an engine repair shop, an outdoor materials storage area and office space,” according to…