Author: BEX Staff

By NAI Horizon  The NAI Horizon Self Storage Group represented the buyer, Vault at Houghton Road LLC, in the $690K purchase of 10.4 acres of land at the SEC of Golf Links and Houghton roads in Tucson.  The buyer plans to develop the site to include a fast-food drive-through, retail space and approximately 75KSF of self-storage with 192 covered parking spaces.  The seller, Tucson Electric Power Company, was represented by PICOR Commercial in Tucson. (Source) 

By Habitat for Humanity Central Arizona  The Habitat for Humanity Construction in Training pre-apprenticeship program is a 16-week, fast track, on the job training program. The program is uniquely designed as an immersive and intensive curriculum that specializes in basic core construction fundamentals, leadership and soft skills development for participants ages 18 and over that are disenfranchised, underserved, underemployed and at-risk of being left out of the economy.  The specialized training curriculum integrates technical, behavior and mindset skills where on the job failure is most likely to occur. Most of the job technical training curriculum emphasizes on practical skills. Assessment is done on a regular basis throughout the program…

Giving Back  1. Johnson Carlier and ACE Asphalt teamed together to bring Christmas cheer to families from Madrid Neighborhood School. Together the team members purchased over 200 gifts including family baskets, grocery gift cards, toys, jackets, clothes and a new pair of shoes for each child.  2. The Arizona Builders Alliance (ABA) brought the local construction industry together to make Christmas a magical time for hundreds of children. Approximately 100 Arizona construction companies and their employees donated almost $50K to the 11th Annual ABA Community Service Board’s 2020 Toy Drive to purchase toys and gifts for five nonprofits serving 900 children in Phoenix Metro area. The ABA teamed up with member construction companies…

Sales Transactions  1. TM Equities purchased Watermark at Gateway Place, a 250-unit class A, Big House multifamily community at 4454 E. Ray Road, Gilbert, for $84.35M, from Watermark Residential. Steve Gebing and Cliff David of Institutional Property Advisors brokered the sale.  2. DPC Development purchased The Park at San Tan, a five-story, 240KSF mixed-use business center at west side of the Loop 101 at Ray Road in Chandler for $65M, from TA Realty.  3. The Milestone Group purchased the Pavilions at Arrowhead, a 13-building, 248-unit apartment complex at 7400 W. Arrowhead Clubhouse Drive, Glendale, for $43.3M, from Capital Real Estate. PGIM Real Estate issued $28.21M in new debt for the deal.  4. The Milestone Group purchased the Springs at Alta Mesa, a 20-building, 200-unit…

By Tasha Anderson for AZBEX 2020 has been a roller coaster ride for the BEX team. We’ve celebrated milestones like our 10-year Anniversary in February, and the launch of DATABEX, the new and improved version of our online searchable database, in May. We’ve also adapted our day-to-day operations – like most A/E/C firms have – by working from home; introducing a short, weekly video briefly discussing projects and upcoming opportunities in the industry; and adding a COVID Roundup Section in our Magazine so our readers could stay up to date on the latest pandemic information. While our Magazine still strives…

Budget, Policy & Stimulus News Trump Signs Relief Package President Donald Trump has signed off on a $900B pandemic relief package. In addition to the COVID-related spending, the bill also includes $1.4T to continue government operations through September. (Source) Business May See Easier PPP Loan Forgiveness The new $900B stimulus package provides for a simpler, one-page forgiveness process for Paycheck Protection Program loans. Loans of less than $150K made during the first round of relief, and any second-round loans, will fall under the simplified process. Industry groups had pushed for the measure while lobbying for the new package. (Source) Economic…

By Cushman & Wakefield Cushman & Wakefield announced it brokered the sale of a 74-acre industrial development site in Glendale, acquired by New York Life Real Estate Investors, on behalf of an institutional client, and fellow San Francisco-headquartered SteelWave. Located at the NEC of W. Camelback and Alsup roads, the land traded for approximately $14.4M. The seller was Alsup 303 Industrial Park, LLC. SteelWave, along with New York Life Real Estate Investors, plans to develop a brand new 1.2MSF Class A industrial project known as Commerce @ 303 that will consist of two buildings of 663KSF (Building 1) and 498KSF…

Groundbreakings 1. Restaurateurs and co-founders of Upward Projects, Craig and Kris DeMarco, and retail store gurus, Eric and Elissa Seitz of Bro Retail Group, broke ground on the 5KSF Air Guitar, with an opening slated next fall. The market, sporting an unusual design by debartolo architects, is located on the NWC of Higley and Ray roads next door to Epicenter at Agritopia. Progress Reports 2. The $230M Phoenix Suns Arena renovation was 80 percent complete by the time the season tipped off on December 23rd. The Suns took the new arena amenities for a test drive on Wednesday night when…

By Tasha Anderson for AZBEX ‘Tis the holiday season, time to spread joy and cheer. Offices are closing, vacations draw near. Families rejoice to celebrate the year end, While relaxing at home and skyping with friends. But humbugs approach with deadlines in tow, Seeking perfect proposals topped with a bow. End of year bid dates are approaching with haste, Put down that hot cocoa, there’s no time to waste. The Hualapai Tribe needs a new EOC, and design RFP’s are due 12/23. On Christmas Eve, don’t leave work too soon, The county’s air dryer is due after noon. After the…

By Tasha Anderson for AZBEX ‘Tis the holiday season, time to spread joy and cheer. Offices are closing, vacations draw near. Families rejoice to celebrate the year end, While relaxing at home and skyping with friends. But humbugs approach with deadlines in tow, Seeking perfect proposals topped with a bow. End of year bid dates are approaching with haste, Put down that hot cocoa, there’s no time to waste. The Hualapai Tribe needs a new EOC, and design RFP’s are due 12/23. On Christmas Eve, don’t leave work too soon, The county’s air dryer is due after noon. After the…