Author: BEX Staff

By Roland Murphy for AZBEX Development of a new 406KSF replacement hospital for the Indian Health Service division of the U.S. Department of Health and Human Services seems increasingly likely, as the Service has issued a Sources Sought/Request for Information to determine the interest, capabilities and qualifications of firms interested in constructing the new facility on the Fort Apache Indian Reservation. AZBEX was the first outlet to report on plans to replace the existing hospital in 2022. This was then followed by a design RFI that December, followed by a design request for proposals. (AZBEX: Sept. 2, 2022; Dec. 13,…

The Peoria City Council has unanimously approved the recommended Capital Improvement Plan for fiscal years 2026-2035, comprising 266 total projects with a budget of $1.9B. Planned spending for FY 2026 is nearly three times the average annual spending plan because it includes several projects currently under development. FY 2026 spending totals $572M, of which $294M is carryover from FY2025. The CIP is largely centered around spending for water, wastewater and the Peoria Innovation Core. The primary water projects consist of: The CAP/LLP Intersection Wellfield project, which is currently under construction and will provide five new potable water wells and a…

Giving Back 1. Brycon sponsored a hole and entered a team in the Robin S. Reed Keys to Independence Golf Classic. The event benefited Treasure House Phoenix, a supportive living community for young adults with intellectual and developmental disabilities. Awards & Accolades 2. The 2025 Ranking Arizona results have been announced for the Top 10 Commercial Real Estate Developers in the Grand Canyon State. The winners are: ViaWest Group, Creation, Ryan Companies, Vestar, SimonCRE, Barclay Group, Wentworth Property Group, Capital Development Group Hines and Canyon Building & Design. Company News 3. Caliber announced the launch of its joint venture with…

Sales Transactions 1. Trinity Investments has sold the 950-room JW Marriott Phoenix Desert Ridge Resort & Spa to Ryman Hospitality Properties for $865M. Trinity acquired the asset in 2019 for $602M and completed a $100M renovation in 2023. The 316-acre resort, Phoenix’s largest, will continue operating under the JW Marriott flag. 2. Ares Management has acquired the 392-unit Zaterra luxury apartment community in Chandler for $137.5M in an all-cash deal, marking one of the Valley’s largest multifamily transactions this year. The seller was P.B. Bell Companies. The 22-acre complex was built in 2021. Institutional Property Advisors, an affiliate of Marcus…

By Roland Murphy for AZBEX After nearly two years with little to no movement, plans for Laveen Towne Center—a mixed-use master plan in south Phoenix between Vestar and BRIO Investment Group—are moving forward with a significantly expanded property size and the addition of a new use component. The project was first reported in January 2023 and planned for a mixed-use development on 40 acres with retail and specialty shops, restaurants and entertainment uses centered around the historic Hudson Farmhouse in Laveen. (AZBEX; Jan. 6, 2023) BRIO purchased the 90-acre total site at the SEC of Dobbins Road and Loop 202…

In partnership with Realm LP, Pennant Development LLC has paid WinCo Foods $10M for the remaining parcels in Skyline Ranch Marketplace. The new owner plans to build out the property and finish the development that was started more than a decade ago. The sale was confirmed by the Phoenix office of SRS Real Estate Partners. Skyline Ranch Marketplace is approximately 31 acres at Gary Road and Hunt Highway in San Tan Valley. WinCo foods bought 41 acres from Miller Global in 2023 and chose to keep 10. The company recently broke ground on the site for its newest Valley store.…

By EdgeCore Digital Infrastructure EdgeCore Digital Infrastructure announced the acquisition of an additional 43.87 acres of land in Mesa and expanded data center capacity designed to deliver 450 MW+ to its hyperscale customers. This new parcel of land more than doubles the buildable acreage EdgeCore controls in Mesa. “Today’s expansion announcement of EdgeCore’s operations in Mesa, Arizona is an exciting milestone in our company’s evolution,” said Lee Kestler, CEO, EdgeCore Digital Infrastructure. “Since establishing our first Mesa campus in April 2023, we have worked quickly to construct and commission 206 MW at the site. This new tranche of land enables…

Groundbreakings 1. Creation announced the groundbreaking for Heritage Park, a 10-acre mixed-use development in Gilbert covering an entire city block at Gilbert Road and Juniper Avenue. The initial phase includes 47KSF of retail and restaurant uses. Heritage Park will open in phases, with the first openings anticipated in 2026. LGE Design Build is leading construction. Phoenix Commercial Advisors oversees leasing activities. Creation is also partnering with Crescent Communities at the site. Crescent will develop NOVEL Heritage Park, a 288-unit luxury multifamily community with a planned opening in March 2027. Future phases of Heritage Park will include a 125-room hotel, office…

By Roland Murphy for AZBEX The Arizona Construction sector gained 2,400 jobs in April, according to the latest report published by the Arizona Office of Economic Opportunity. Arizona’s seasonally adjusted unemployment rate held steady at 4.1%. The national unemployment rate was also unchanged from March, holding at 4.2%. In April 2024, Arizona had a seasonally adjusted rate of 3.4%. The national rate was 3.9%. Arizona had a not-seasonally adjusted gain of 20,900 nonfarm employment jobs month-over-month. “Prior to the pandemic (2010-2019), NSA nonfarm employment gained 9,500 jobs on average in April,” the report states. Year-over-year results showed a seasonally adjusted…

By Maricopa Association of Governments Members of the public are encouraged to participate in a virtual public scoping meeting and provide input on the SR 74 Corridor Study. The Maricopa Association of Governments is evaluating the 30-mile stretch of the SR 74 Corridor between Interstate 17 and US 60/Grand Avenue to develop a plan for the corridor. The goal of the study is to enhance mobility and accessibility within the SR 74 Corridor by identifying future near-term and long-range plans. MAG invites you to participate in the virtual public scoping meeting to learn more about the study and provide feedback.…