Author: BEX Staff

By BEX Staff for AZBEX The City of Phoenix has received almost $750M for 30 grant applications submitted for plans and projects under the federal Infrastructure and Investment Jobs Act and Inflation Reduction Act passed under the Biden Administration. There is another approximately $400M in funding that has not been received. The future of those applications is now uncertain. Early actions by the Trump Administration since taking office last month have focused on eliminating government spending the administration deems wasteful or unnecessary and have targeted allocations for projects focused on alternative energy and sustainability, among others. Funding statuses have changed…

By BEX Staff for AZBEX A Feb. 6 review of the City’s planned capital improvement projects by the Maricopa City Council’s Budget and Finance Subcommittee revealed a total planning budget of $151.7M, including $77.8M, or 51.3%, planned for roads and area infrastructure. Over the course of the next 10 years, road project investment is projected at more than $496M, according to a local news report. The City’s multi-year Capital Improvement Plan shows $693.5M in total capital requests for 141 improvement projects between 2025 and 2034. Maricopa has seen extensive growth in the last several years, a trend that is expected…

By BEX Staff for AZBEX A potential developer/deal maker has come forward and expressed interest in the KOREPlex site at Baseline Road and State Route 85 in Buckeye. As first reported in AZBEX, KORE Power has abandoned its plan to build the first lithium-ion battery production facility owned by a U.S.-based company on the 214-acre site and listed the property for sale through JLL. Subsequent reporting showed the company is the subject of a more-than-$10M lien recorded by general contractor Yates Construction stemming from nonpayment for work and materials in readying the site for construction. (AZBEX: Jan. 31; Feb. 5)…

Groundbreakings 1. Construction has officially begun on the Mesa Grandview Business Park located near the SWC of Loop 202 and Greenfield Road. The industrial development consists of three buildings totaling 270KSF. One building will be 132.7KSF, while the other two will be 68.7KSF each. An additional 22.7 acres along Greenfield Road will be reserved for future development. Sunbelt Investment Holdings, Inc. is the owner, and Okland Construction is the general contractor. CBRE is representing the development, which is expected to be completed by Q1 2026. 2. Creation and CrossHarbor Capital Partners held a groundbreaking ceremony this week for Source Logistics…

By Roland Murphy for AZBEX Excolo Development has proposed a new 120-unit multifamily community on 5.05 acres at the NEC of Guadalupe and Power roads in Mesa. According to the submitted project narrative, “The proposed Park North project will replace a long vacant, non-viable commercially zoned site with a new residential development that provides diverse housing options for the area and will bring in new residents to support the City’s oversupplied existing commercial/retail uses. Park North will also result in the addition of lower traffic volumes to the adjacent streets (Power Road and Guadalupe Road) than the uses currently approved…

By BEX Staff for AZBEX The Mesa Design Review Board will discuss a planned trucking freight facility for Saia Motor Freight Line in its Feb. 11 meeting. According to project documents, the planned development on 13.15 acres on the south side of Pecos Road east of Crismon Road will have a total building space of 49.9KSF including a shipping dock, maintenance shop and business office. If built, the new facility would be used as part of Saia’s less-than-truckload freight operation. LTL shipping combines multiple shipments—usually six pallets or fewer—onto one truck for transfer to a hub where materials are then…

Sam’s Club purchased 29 acres in Mesa for nearly $13M with the intention of constructing a 166.5KSF building and a 14-pump gas station. The building will span 21 acres on the site located along Recker Road and Loop 202. The remaining eight acres will be reserved for other purposes that could include retail, restaurant, fitness or entertainment. This will be the first Sam’s Club in Mesa and the tenth in the Grand Canyon State. The site is one of the final pieces to be developed in the 313-acre Longbow master plan. The area currently has other projects under review, such…

Giving Back 1. The Terracon Foundation awarded community grants of $4K to the Southern Arizona Environmental Management Society in Tucson and $1K to the Arizona State University student-run food pantry in Tempe. The grants were part of $67K in total community grants to 21 nonprofits around the country. The Foundation also gave a total of $50K to four universities. Boards & Commissions 2. Kim Murphy of CHASSE Building Team has been named the 2025 President of the Southwest Chapter of the Center for Job Order Contracting Excellence. The CJE is created for JOC standards, education and credentials. Murphy leads the…

Sales Transactions 1. Cushman & Wakefield announced the firm brokered a portfolio hotel sale comprising a 180-room Sheraton and 129-room Courtyard by Marriott hotels in Mesa. HSL Properties acquired the hospitality properties for a combined $50.3M. The seller, Power Hotel Group, was represented by Bill Murney and Mike Montoya with C&W. The hotels have access to both Loop 101 and Loop 202. 2. Preissman Perris, LLC represented itself in the $13.7M purchase of a 72KSF office building at 3360 E. Hemisphere Loop at Tucson International Business Center in Tucson. The seller, 3360 E. Hemisphere Loop, LLC was represented by Peak…

By Roland Murphy for AZBEX uncertain: 1. Not clearly defined or identified; 2. Today’s Arizona construction market. On Jan. 28 and Feb. 4, near-capacity crowds once again filled the auditorium of the Arizona Heritage Center in Tempe for the BEX Construction Activity Forecast Event. As it does every year, the BEX Research staff—affectionately known as “The BEXperts”—detailed the major trends across the state in the construction markets we cover every day. Sticking to the time-proven format, BEX Founder and President Rebekah Morris and key members of the Research team give updates on the three primary market sectors (Public Infrastructure, Housing…