Author: BEX Staff

The Pima County Board of Supervisors has approved a Predevelopment Services Agreement with Knott Development, Inc. for the proposed Kino Sports Complex expansion. The plan includes adding sports facilities and extensive new retail and commercial public amenities. Knott will now move on to the detailing of architectural, engineering, financial and other analyses needed to advance the project. The core Kino Sports and Entertainment Complex project was completed last year, and the county began the search for a partner to complete the expansion. Knott Development’s proposal includes creating the Kino District Iceplex – an 86KSF ice sports facility – and the…

Arizona companies and researchers at the University of Arizona are working to develop technology-based solutions that could make mining more sustainable and safer as an industry. Companies and researched solutions were showcased in the recent Tucson Tech: Smarter, Safer, Sustainable Mining panel hosted by the Arizona Technology Council. The featured solutions were: Auxilium Technology Group licensing UArizona technologies to turn mining waste into products with value; Hexagon Mining developing Autonomous Connected Ecosystems digital solutions into all aspects of its operations for increased safety, efficiency, and effectiveness; Stantec Mining’s all-inclusive solutions set, developed with experts across a range of disciplines, to…

Awards & Accolades 1. The 777 Tower, a six-story, 160.9KSF, Class A mixed-use office building in the Novus Innovation Corridor on the Tempe campus of Arizona State University, has been awarded LEED Gold certification by the U.S. Green Building Council. The project was developed by Ryan Companies, US, Inc. and designed by DAVIS. 2. ASU’s Skysong 5, the six-story, 151KSF office and research building in Scottsdale, has earned the prestigious LEED Gold certification for its sustainability and environmentally friendly construction. Plaza Companies is the master developer of SkySong, in partnership with ASU University Realty, City of Scottsdale and Holualoa Companies.…

By Tasha Anderson for AZBEX A new multifamily development is being planned within the Canyon Trails PAD in Goodyear on a site that is currently being used for agricultural production. Developer, Aviata, LLC is requesting to rezone approximately 20.24 acres at the NEC of Cotton Lane and Canyon Trails Boulevard from the current Planned Area Development designation to Multifamily 24 dwelling units per acre. The request was heard and recommended for approval by the City of Goodyear’s Planning & Zoning Commission on April 14th. The project, known as Aviata at Canyon Trails, is proposed as a 418-unit gated multifamily community…

By Tasha Anderson for AZBEX Arizona’s seasonally adjusted unemployment rate decreased to 6.7 percent in March 2021, from February 2021, according to the latest report published by the Arizona Office of Economic Opportunity. The national rate decreased to 6 percent from February. In March 2020, the state had a seasonally adjusted rate of 5 percent, and the national was at 4.4 percent. The state had a net gain of 16,100 non-farm jobs over the month. “Historically (2011-2020), Nonfarm employment has averaged a gain of 7,600 jobs in March,” the report states. Leisure & Hospitality had the largest net gain of…

By Stevens-Leinweber Construction Inc. Marking its entry into the Phoenix industrial market, Denver-based Comunale Properties has selected Stevens-Leinweber Construction Inc. to build Chandler Connection, a 201KSF Class A industrial building immediately adjacent to the Chandler Municipal Airport in Chandler. Additional project team members selected by Comunale Properties include architect Butler Design Group and Ken McQueen and Chris McClurg from Lee & Associates, who will serve as the development’s exclusive leasing brokers. Located on Germann Road, between Gilbert and Cooper roads, Chandler Connection will offer mid-bay industrial space featuring 32’ clear height, 140’ to 240’ bay depth, 52’ x 60’ column spacing…

By JLL Tenant move-outs have outnumbered move-ins so far this year in the Phoenix office market, according to the new JLL Q1 Phoenix Office Insight Report, but tour activity has increased, leaving many cautiously optimistic about the year ahead. According to the report, while the Phoenix office market absorbed more than 446KSF during the first quarter of 2021, the gains were overshadowed by nearly 641KSF of sublet space to hit the market during the same period – representing a sublet space increase of 1.2MSF year-over-year. More than 1.1MSF of new office product was also added to the Valley’s inventory – 54 percent…

Giving Back 1. NAIOP has selected Margarita Effron as a recipient of its annual $5K Diversity Student Scholarship. The scholarship program supports students who are pursuing a graduate degree in commercial real estate and is a key component of the association’s pledge to advance diversity in the industry. Effron is a graduate student in the Master of Real Estate Development (MRED) program at Arizona State University and a member of NAIOP Arizona. Awards & Accolades 2. Rommie Mojahed, the Director of Retail Leasing & Sales Investments for SVN International Corp., was just recently named to the President’s Circle within the…

Sales Transactions 1. Erickson Companies purchased a multi-state industrial portfolio consisting of a 40KSF headquarters facility on 13-acres at 250 N. Beck Avenue, Chandler, and a 20KSF regional office facility on 15-acres at 8350 Industrial Avenue, Roseville, Calif., for $26.25M. Senior Director Phil Haenel and Executive Managing Directors Mike Haenel, Andy Markham and Will Strong with Cushman & Wakefield represented both the buyer and undisclosed seller. 2. The Bascom Group has purchased Sierra Charles Apartments, a 196-unit, garden-style multifamily property at 600 Charles Drive, Sierra Vista, for $11.6M, from an undisclosed seller. Brian Eisendrath and Cameron Chalfant of CBRE Capital…

By Tasha Anderson for AZBEX A new multifamily residential development is being proposed at East University Drive and North Miller Street in Mesa, and will provide modern housing to the students of Hillsong College. Owner, Stalwart Acquisitions, LLC, in partnership with Hillsong College, is requesting a Development Incentive Permit (DIP) to allow certain deviations from certain development standards, in order to develop the multifamily project on approximately nine underutilized parcels within the RM-2 and RM-4 Districts. “Through the DIP, the applicant is requesting a reduction to the required building and landscape setback along University Drive, a reduction to the foundation…