Author: BEX Staff

By Roland Murphy for AZBEX The Arizona Construction sector lost 600 jobs in January, according to the latest report published by the Arizona Office of Economic Opportunity. Arizona’s seasonally adjusted unemployment rate rose to 3.9%. The December rate was 3.8%. The national unemployment rate fell to 4.0%, down from 4.1%. In January 2024, Arizona had a seasonally adjusted rate of 3.5%. The national rate was 3.7%. Arizona had a not-seasonally adjusted loss of 40,700 nonfarm employment jobs month-over-month. “Prior to the pandemic (2010-2019), private sector employment averaged a loss of 41,900 jobs in January,” the report states. Year-over-year results showed…

By BEX Staff for AZBEX The Florence Planning and Zoning Commission has recommended approval of a requested rezoning for a 40-acre site called Westland Village at the SWC of Butte Avenue and Centennial Park Place. The requested rezoning would change the vacant site from rural agricultural to planned unit development to allow the development of 112 single-family homes on 27 acres and up to 158 multifamily units on the remaining 13. Roughly eight acres of the total site would be made up of open space. Surrounding sites include single-family residential, a drainage channel and the 40-acre Territory Square planned development…

By Associated Builders and Contractors Construction input prices increased 0.6% in February, according to an Associated Builders and Contractors analysis of U.S. Bureau of Labor Statistics’ Producer Price Index data. Nonresidential construction input prices also increased 0.6% for the month. Overall construction input prices are 0.3% higher than one year ago, while nonresidential construction input prices are 0.1% lower. Iron and steel, steel mill product and softwood lumber prices all increased sharply in February. “Nonresidential input prices increased at a rapid pace in February and have risen at a far-too-hot 9.0% annualized rate through the first two months of 2025,”…

Giving Back 1. The Salt River Project Solar for Nonprofits Program has completed the installation of a 40kW solar system for Junior Achievement of Arizona, a project expected to cut the organization’s electricity use by about 40%. The system will help JA reduce its electricity costs, allowing the nonprofit to allocate more resources to support its mission while embracing a more sustainable future. Construction began in October of last year. 2. Lyn Marquis, president of MC Companies’ Sharing the Good Life Foundation, has been recognized by the Arizona Chapter of the Cystic Fibrosis Foundation. Marquis received the Advocacy Award in…

Sales Transactions 1. BKM Capital Partners, advised by Cushman & Wakefield, recently sold Rose Garden Business Park for $35.1M. The buyer in the transaction was an affiliate of the seller, whose name was not disclosed. Sitting at 1801-1831 W. Rose Garden Lane, the 100% leased industrial park is 159.3KSF on 10-plus acres. 2. Thomas Title & Escrow announced it facilitated the $24.5M sale of Miller Plaza. No address, transaction parties or representatives were identified. According to an inactive listing on Loopnet, Camelback Miller Plaza is a 15-acre, 158KSF retail center at the SWC of Miller and Camelback roads. 3. La…

By Roland Murphy The 2025 BEX Leading Market Series for March covered Housing Projects on the Horizon and was presented March 11 at SkySong in Scottsdale. Rather than simply rattling off lists of developments in various states of approval and construction, panelists took a deeper dive, addressing questions focused on the current state of the housing development market in Arizona. The panel was comprised of: Nathan Sonoskey, CEO, Fast Permits (Moderator); Benjamin L. Tate, Land Use Zoning Attorney, Withey, Morris, Baugh; Roger Theis, VP of Development, Harvard Investments, and Shelby Duplessis, Founder & Managing Partner at Diversified Futures. Sonoskey gave…

By BEX Staff for AZBEX Earlier this month, the Lake Havasu City Council approved multiple requests for a planned mixed-use development on Retail Center Blvd. that will feature a publicly accessible fitness facility with a pool, along with 97 housing units. The letter of intent and project narrative identify the 18-acre location as 40 Retail Centre Blvd., while Council documents say 60 Retail Centre Blvd. The developer requested rezoning from RMH Manufactured Home District to C2 General Commercial and a General Plan amendment for the subdivided parcel to CMU Commercial Mixed Use. According to the developer’s investment solicitation materials, “The…

Gov. Katie Hobbs is providing a new plan to override city regulations to increase production of starter homes. Cities have claimed her plan is more restrictive than what was recently approved by the Senate. Hobbs’ plan also contains a provision that reserves homes for Arizonans and limits ownership by outside real estate investors. Approximately a year ago, Hobbs vetoed a measure that was intended to make housing more affordable for Arizona residents. In her denial, she expressed the legislation was an experiment that did not have clear outcomes. Despite this, seven of the Senate’s 13 Democrats are pushing for changes,…

By BEX Staff for AZBEX The Mesa Design Review Board met this week to discuss Wetta Ventures’ plan to build a 98.3KSF shell industrial building on an undeveloped 6.9 gross acre site at 5818 E. McDowell Road in the Longbow Business Park. No actions were taken during the meeting. According to both Board documents and a local news outlet, no comments or concerns were submitted by nearby property owners. Mesa zoning regulations require a total of 212 parking spaces. The developer has proposed 143 and has requested a parking special use permit to accommodate the deviation. Project documents state the…

Groundbreakings 1. Avalon Ranch, an upcoming commercial center at Power and Elliot roads, is under construction. The Avalon Development project will cover 14 acres and hold seven retail tenants. The site previously contained undeveloped agricultural lands, but the City of Mesa rezoned the property to limited commercial in 2023. Each corner of the intersection is now seeing development. 2. A 95-unit, four-story hotel project is being constructed in Kingman. The property will be an Avid Hotel under the InterContinental Hotels Group. The hotel, located at Hotel Way and Airway Avenue, broke ground on Feb. 24. The project is expected to…