Author: BEX Staff

By Sun Corridor, Inc. BD (Becton, Dickinson and Company), a leading global medical technology company, announced it will invest $65M to construct a state-of-the-art facility in Tucson that will be a hub for the company’s supply chain, serving as a final-stage manufacturing and sterilization center. The new 120KSF facility will be built on approximately 32 acres at the NEC of Valencia and Kolb Road and is planned to be operational in mid-2022. BD plans to add approximately 40 new jobs, including engineers, scientists, quality control specialists and other skilled talent. Sun Corridor, Inc. projects that BD’s investment will have a…

By Urban Land Institute Arizona Last year’s in-person Trends Day attracted a record number of participants. Join ULI Arizona for the 16th Annual Trends Days, this year a three-day virtual program of deep-dive content. The 2021 event, April 20th-22nd, brings together more than 40 top industry experts from across the globe. They will discuss the most current real estate trends with a focus on what to expect in the future, where the best opportunities can be found, and how these components affect both public and private sector partners. ULI Arizona’s Trends Day is recognized as the third largest ULI program…

By JLL In a turbulent year with overall U.S. commercial real estate volume decline, increased activity in some alternative property sectors was a bright spot for the industry. Alternatives like self-storage, life sciences, manufactured housing communities, medical office and data center assets were collectively responsible for more than $47.9B in transaction volume in 2020, bringing these non-traditional real estate assets more into focus as investors sought yield. While some of this demand is accelerated due to the pandemic, there is evidence that it is more than a passing phase. Alternatives, which also include student housing, cold storage and single-family rental,…

Groundbreakings 1. The Arizona Department of Transportation will start construction this month on a 10-mile section of North Oracle road that will bring new pavement and other improvements to the busy corridor. The $34M project will include improvements like new LED lighting, improved drainage, sidewalks, turn lanes and more. ADOT did the design in-house and Granite Construction, Inc. is the general contractor. 2. MC Companies broke ground this week at The Place at Silverbell Gateway, a 300-unit luxury apartment home community at 7430 N. Silverbell Road in Marana. Dean Alan Architects is the design firm and Clark Wayland is the…

No end in sight to rising construction prices Last year ended on a high note for construction in Arizona, with a whopping 19.06 percent increase year-over-year (YOY) compared to 2019 statewide construction volume. Annual activity topped $17.7B according to the Arizona Department of Revenue’s tax data. 2020 marks the highest annual construction volume since 2008 when the market started to slip into the Great Recession. Since 2017 the market has seen yearly double-digit increases in activity. Driving the market are economic forces of in-migration and demand for housing and industrial spaces. The market is delivering these in-demand products as fast…

By Tasha Anderson for AZBEX The second phase of West Maricopa Village, the new 35-acre master plan development including single-family for rent homes, apartments, retail and office space, is making its way through the City of Maricopa’s Planning Department. Developer, Z-Modular is requesting approval of the site plan, landscape, photometric and elevation plans for the second phase, known as FUZE 520. The project was recommended for approval at the Maricopa Planning and Zoning Commission meeting on March 22nd. FUZE 520 is proposed as a 348-unit multifamily development to be located on a 14-acre site at the SEC of Smith Enke…

By CBRE A recent survey of commercial real estate investors ranked Phoenix as a Top-10 target among America’s metros. The Sun Belt market jumped five spots to #4 in CBRE’s 2021 Americas Investor Intentions Survey. The survey found that more investors are prioritizing secondary markets in 2021 (as opposed to gateway markets), particularly those with strong job and population growth prospects, which can translate into greater potential for both equity and income growth. Sun Belt markets are the most appealing: Austin is the top preferred market, followed by Dallas. The survey findings also reveal the sustained appeal of tech-driven markets.…

By NordVPN | Teams The construction industry may not appear to be an obvious target for cybercrime, but it garners unwanted online attention just like other sectors. According to the Cost of Data Breach Report 2020 by IBM, the average cost of a data breach in the industrial sector was $4.99M. GlobalData, a data research company, predicts that the industrial sector’s value will soar to $12.9T by 2022. After rising consistently by 3.6 percent since 2018, it has now caught the eye of cybercriminals. Over half of all construction executives believe their firms will be hit in the future, yet…

Awards & Accolades 1. TDIndustries, Inc. announced it has earned a National Safety Excellence Award from Associated Builders and Contractors (ABC) for the fourth consecutive year. The award was presented at the 31st annual Excellence in Construction® Awards during the ABC Convention 2021 held in Grapevine, TX, on March 10th. 2. NAI Horizon listed their 2020 Top Producers. They are: Lane Neville, Investment Sales / Land Denise Nunez, Investment Sales – Self Storage Isy Sonabend, Industrial Mark Wilcke, Industrial / Land Matt Harper, CCIM, Retail Andrew Warner, Investment Sales – Manufactured Housing Laurel Lewis, Office Mike Kumelski, Retail Troy Giammarco,…

Sales Transactions 1. A Chicago-based investment advisor purchased the first phase of the Lotus Project in Chandler, for an undisclosed amount, from Conor Commercial Real Estate and joint venture partner WHI Real Estate Partners. The newly built industrial park includes four state-of-the-art advanced manufacturing and light industrial buildings totaling 473.5KSF. Will Strong, Jeff Chiate, Jeffrey Cole, Mike Adey, Greer Oliver and Connor Nebeker-Hay of Cushman & Wakefield’s National Industrial Advisory Group represented Conor and WHI. 2. West Freeman Properties purchased Midtown Flats, a luxurious, 122-unit multifamily property at 825 W. Osborn Road, Phoenix, for $26M. Newmark’s Managing Director Chris Canter,…