Author: BEX Staff

By Associated Builders and Contractors The construction industry lost 61,000 jobs on net in February, according to an Associated Builders and Contractors analysis of data released by the U.S. Bureau of Labor Statistics. During the last ten months, the industry has added 805,000 jobs, recovering 72.3 percent of the jobs lost during the earlier stages of the pandemic. Almost all of the job loss was in nonresidential construction, a segment in which employment declined by 60,800 jobs on net in February. Nonresidential specialty trade contractors and heavy and civil engineering both experienced significant job losses, losing 36,700 and 20,800 jobs,…

Awards & Accolades 1. AZ Big Media issued the Top 10 Architecture Firms in Arizona based on public voting for the 2021 edition of Ranking Arizona. They are: Six Architects or Fewer: Cawley Architects LGE Design Group HDA Architects dpa architects ADM Group Bar Napkin Productions Ideation Design Group K&I Architects Merge Architectural Group FM Solutions Seven Architects or More: Corgan Cuningham Group Architecture SmithGroup DAVIS triARC architecture & design Gensler SPS+ Architects Gould Evans Orcutt | Winslow SAWBACK PLLC 2. AZ Big Media issued the Top 10 Brokerage Firms in Arizona based on public voting for the 2021 edition…

Sales Transactions 1. JLL Income Property Trust bought the Lotus Project, a four-building, 474KSF, Class A distribution center complex in Chandler for $91M, from Conor Commercial Real Estate. JLL Income Property Trust is calling the development the Southeast Phoenix Distribution Center. 2. Logan Capital Advisors purchased The Bungalows on Jomax, a 141-unit garden-style, horizontal, low density, single-family and build-for-rent community at 27441 N. Black Canyon Highway, Phoenix, for $42M, from Bungalows on Jomax, LLC. Senior Managing Directors Mark Forrester and Ric Holway, Senior Director Dan Cheyne and Director Andrew Curtis of Berkadia’s Phoenix office completed the sale on behalf of…

By Tasha Anderson for AZBEX The first BEX Virtual Leading Market Series topic of 2021 was Healthcare and more than 200 people logged on Wednesday, March 3rd, to hear about current and future opportunities in Arizona Healthcare construction, and, as an added bonus, got to watch two cats duking it out in the background. Because it’s not a virtual meeting without at least one pet getting involved, am I right? The panel consisted of Mark Barkenbush, Vice President Facility Services for Banner Health; Steve Eiss, Vice President Construction & Real Estate Development for Northern Arizona Healthcare; Peter Gray, Associate Vice…

Budget, Policy & Stimulus News What’s Next for $1.9T Relief Package? Potential changes could be in store for the Small Business Administration’s Paycheck Protection Program under the Biden Administration’s proposed new $1.9T stimulus and relief package. The version passed by the House includes waiving a size cap for nonprofits and makes previously excluded nonprofits eligible. Newly eligible recipients could also take out a second draw loan, provided they have fewer than 300 employees and experienced at least a 25 percent revenue loss. (Source)

Work will begin on the $35M campus renovations Mountain View High School in Mesa this spring. Key components of the project include renovating a 70KSF building to add office and administrative space along with 10 new classrooms, and a 160KSF academic building, which will be renovated to include a new performing arts space. The entire campus will be renovated with new amenities, landscape and branding features accenting the school’s identity. Planned features include updated lighting for sports fields, a high-intensity interval training area and a sand volleyball court. The school’s parking area will also be updated. The project is funded…

The Phoenix Business Unit of Trammell Crow Company, along with capital partner Clarion Partners, LLC, announced it has acquired a 25-acre site for the development of Tolleson 107 Logistics Center, a 332KSF logistics facility that will include 4.6 acres dedicated to retail. Located in Tolleson, the site sits at the SWC of 107th Avenue and Van Buren Street and is located one mile from TCC’s Cowden Logistics Center development, currently under construction. The groundbreaking for the new Class A facility is slated for April 2021 and the building will be ready for tenant occupancy by year-end. Phil Haenel, Andy Markham,…

Retail vacancies increased to 8.0 percent in the Phoenix area at the end of Q4, according to a recently released market report from CBRE. While the market continues to tighten, year-over-year vacancy was steady. New construction totaled a modest 686KSF, led mostly by grocery-anchored development and fitness outlets. Net absorption was -106KSF, bringing the two-year average to 149.4KSF. Q4’s gross activity was 602.7KSF, and both gross and net absorption showed improvement over Q3. Shutdowns and move-outs by Stein Mart and Office Max locations around the Valley contributed strongly to the market negatives, while the opening of a 154.4KSF Costco in…

Groundbreakings 1. Adolfson & Peterson Construction (AP), a top national construction management firm and general contractor, and The Leona Group, an education service provider and school manager, will break ground on Ridgeview College Preparatory High School in San Tan Valley, Arizona, on March 5th at 10:00 am. Once complete, the 37KSF campus will feature a regulation-sized gymnasium, science labs, technology-rich classrooms, and indoor/outdoor learning spaces that provide students with comfortable, flexible and student-focused environments. Designed by Carhuff & Cueva Architects, Ridgeview College Prep is currently enrolling grades nine through 11 for the 2021-2022 school year, and 12th grade enrollment will…

By Tasha Anderson for AZBEX A new luxury multifamily residential development is being proposed for the SWC of Bell Road/Frank Lloyd Wright Boulevard and Scottsdale Road on the south side of the Central Arizona Project canal, in the Kierland area of Phoenix. The project’s site currently houses a 90’s-era single -story retail building which will be redeveloped into the 14-story multifamily tower currently known as “Scottsdale & Bell.” The developer of the project, The Hampton Group, Inc., is planning for up to 255 units comprised of a mix of 160 one-, 87 two- and eight three-bedroom dwelling units. The residences…