Author: BEX Staff

By Tasha Anderson for AZBEX  The General Services Administration (GSA) recently issued two Sources Sought notices for the San Luis I Land Port of Entry Expansion and Modernization project.  The sources sought notices are for architectural, engineering, construction, and other related services as well as construction management services. The GSA is looking specifically for small business firms interested in providing those services.  The San Luis I Land Port of Entry, located on 12.1 acres at the intersection of Highway 95 and the International Border with Mexico in San Luis, “is the second busiest non-commercial land port of entry in Arizona and processes more than 3 million…

Budget, Policy & Stimulus News Who’s First in Line for New PPP Loans? No launch date has been set by the Small Business Administration for when it will start accepting new applications for Paycheck Protection Program loans, but community financial institutions – those serving minorities, veterans, women and underserved geographic areas – will be the priority in the initial days of the rollout. Advocates had lobbied for these businesses to receive early access, as many of them had missed out in the first round. (Source) Mesa Wonders What’s Next After CARES Funding Ends Federal funding that had provided relief for residents under the Mesa CARES program expired at…

The recently released “Fourth Quarter 2020 North America Quarterly Construction Cost Report” from Rider Levett Bucknall showed increases in 11 of the 12 U.S. markets. From October, 2019 to October, 2020 Los Angeles saw the greatest annual percent change in its Comparative Cost Index with 4.41 percent. Chicago was the only leading market to decrease, dropping -1.29 percent. Phoenix’s CCI rose 1.43 percent. (Source) 

By Associated Builders and Contractors  The construction industry added 51,000 net new jobs in December, according to an Associated Builders and Contractors analysis of data released by the U.S. Bureau of Labor Statistics. During the last eight months, the industry has added 857,000 jobs, recovering 79.1 percent of the jobs lost during the earlier stages of the pandemic.  Nonresidential construction employment added 29,000 net jobs in December. Nonresidential building was the only subsegment that experienced a net loss in jobs, contracting by 4,300 positions. Nonresidential specialty trade contractors added 18,300 jobs for the month, while heavy and civil engineering added 15,000.  The construction unemployment rate rose…

Giving Back  1. Each year, the WTS Metropolitan Phoenix Chapter offers seven scholarships to assist qualified candidates aspiring to transportation careers. The scholarships are:   The AzTA Transit Planning Scholarship  The Helene M. Overly/Esther Kmetty Scholarship  Sharon D. Banks Memorial Undergraduate Scholarship  Molitoris Leadership Fund for Undergraduates  Support Sky Harbor Coalition Scholarship  Friends of Transit Scholarship  Returning Student Scholarship  2. Because of the COVID-19 pandemic, the PICOR Charitable Foundation was unable to come together in a traditional way to stage its 26th annual Pancake Feed in Reid Park; however, with help from their donors and partners, they still raised more than $80K for Tucson’s youth programs.  Awards & Accolades  3. GLHN Architects & Engineers, Inc. announced…

Sales Transactions  1. TruAmerica Multifamily acquired Pointe at South Mountain Apartments, a 38-building, 364-unit multifamily complex at 8809 S. Pointe Parkway, Phoenix, for $80M, from ConAm Group of Companies. CBRE Capital Markets arranged $54.997M in new Freddie Mac debt for the deal.  2. Ashton Woods teamed up with Lennar Corp. and Taylor Morrison Home Corp. and purchased a 328-acre parcel in Peoria for $72.6M, in an auction against PulteGroup Inc., Maracay Homes and Toll Brothers Inc. Representing the winning bidders was the Nathan & Associates Inc. team of Nate Nathan, Dave Mullard, Daniel Baldwin, Ryan Duncan and Casey Christensen.  3. Millburn & Company acquired Allegro at Foothills Gateway, an 18-building, 264-unit apartment complex at 4411 E. Chandler Boulevard, Ahwatukee, for $65.1M,…

By Rebekah Morris for AZBEX  Next week the BEX research team will present detailed market analytics at the fourth annual Construction Forecast Event. The topic will be an exclusive and deep analysis of the next three years of the Arizona construction market. Below is a sneak peek of what types of data and analysis will be presented:  Top Owners, Architects, and Contractors in 2020 – how will they change in the coming years?  The most popular section of the Construction Forecast Event every year is the name-dropping; who will be the most active players in each given sector? Now that we have done this research analysis four years running, we…

Economic News Landlords Have Options with Non-paying Tenants Multifamily landlords with non- or slow-paying tenants are exploring their options in the face of new Centers for Disease Control policies halting certain evictions. Among items they need to check are: Availability of other payment options, the availability of other payment sources, the option to apply existing security deposits to unpaid rent, relocation options, allowing leases to expire, and paying the tenant to vacate the property so it again becomes available to rent. (Source)  Multifamily Projects Can Still Find Financing  Now that multifamily has regained momentum following the panic in the early stages of the pandemic, many…

By Tasha Anderson for AZBEX  A new commercial/light industrial development is being planned for the NWC of Dysart Road and Sweetwater Avenue within the Surprise Pointe PAD.  E&V Investments, LLC is requesting site plan approval of the 157KSF project, known as Ancona at Surprise Pointe 33. The approximately 27.16-acre site is currently vacant and is surrounded by other existing commercial/industrial buildings and a business park, as well as neighboring residential for the City of El Mirage.  Ancona at Surprise Pointe 33 will consist of two industrial buildings. The first will be an 84.3KSF spec commercial/light industrial building consisting of 12 spec suites, and the second…

By CBRE  MDH Partners has purchased roughly 41 acres in Goodyear and plans to construct a two-building speculative industrial project called Gateway 303.  CBRE represented the seller, Merit Partners, in the transaction. CBRE also assisted the buyer and will lease the project, which is expected to be delivered in late 2021.  Located at the NWC of Loop 303 and Thomas Road, Gateway 303 will be part of PV|303, a 1,600-acre master-planned business park approximately 25 miles west of downtown Phoenix. PV|303 also falls into Foreign Trade Zone #277. The project will consist of two Class A logistics facilities, both of which will have direct Loop 303 frontage with significant signage opportunities.  Building A will…