Author: BEX Staff

Sales Transactions  1. Walton has sold 290 acres in the Mystic Vista and Vista Bonita masterplans located in Buckeye for an undisclosed amount. MPC Developments, LLC has purchased 145 acres in the Mystic Vista community located at Apache Road and Southern Avenue. Villa Capri Mobile Home Park, LLC bought 125 acres consisting of two parcels of land in the Vista Bonita master plan located in the vicinity of Apache Road and Broadway Road.   2. Landmark Dividend announced it has purchased a three-building, 184KSF, 16+ MW enterprise data center campus in Phoenix for an undisclosed amount. Landmark has engaged the JLL Data Center Solutions team in Phoenix as the exclusive leasing manager of the data…

By Tasha Anderson for AZBEX  Meyer Development Services, Ltd, on behalf of the owner, Sedona 43 Holdings, LLC, submitted plans to the City of Peoria for the development of a new 14-building multifamily project called Peoria Commons.  A request for an amendment to the General Plan land use map from Commercial to Urban Residential on approximately 10.7 acres south of the SWC of 91st and Olive Avenues was approved by the Peoria Planning and Zoning Commission on April 9th.  Peoria Commons is planned as a 264-unit multifamily development consisting of a mix of studio, one-bedroom and two-bedroom dwelling units.  The layout in the conceptual site plan shows nine…

Policy & Stimulus News  Governor Seeks Businesses Recovery Input  Governor Doug Ducey asked leaders from Arizona’s lodging and business communities to provide their feedback on a plan for economic recovery. The request seeks recommendations to help accelerate a business and economic recovery including incorporating public health guidance into everyday business practices, policy suggestions, regulatory reforms and other executive actions. (Source: Office of the Governor)   ABC Comments on OSHA Guidance  Associated Builders and Contractors VP of Health, Safety, Environment and Workforce Development Greg Sizemore issued a statement on the release of Occupational Safety and Health Administration’s April 10 guidance on recording cases of COVID-19. (Source: Associated Builders and Contractors)  Economic News …

By Tasha Anderson for AZBEX  Arizona’s seasonally adjusted unemployment rate increased to 5.5 percent in March 2020, from February 2020, according to the latest report published by the Arizona Office of Economic Opportunity.   The national rate increased to 4.4 percent from 3.5 percent in February. In March 2019, the state had a seasonally adjusted rate of 4.8 percent, and the national was at 3.8 percent.  The state had a net loss of 7,400 non-farm jobs over the month. “Historically (2010-2019), Nonfarm employment has averaged a gain of 10,900 jobs in March,” the report states. Trade, Transportation & Utilities had the largest net gain of jobs with 2,800, followed by Education and Health Services with 1,700. Of the 11 sectors tracked, Manufacturing had the smallest net gain with 100 jobs. Construction lost 600 jobs over the month and Leisure…

By BEX Staff for AZBEX  The Arizona Department of Transportation has announced that it is seeking public input on its three-year Draft Disparity Study and overall Disadvantaged Business Enterprise (DBE) goals for FHWA, FTA and FAA-funded contracts.  “ADOT is required to set a new overall annual goal for participation of DBEs in its federally-funded contracts,” according to the 2020 DBE Disparity Study website. “ADOT will submit a new three-year overall DBE goal to FHWA this summer to go into effect on October 1st, 2020.”  The current overall DBE Goal for FHWA-funded contracts is 9.55 percent. Based on the results of the study, ADOT is proposing:  An overall proposed goal of 12.89 percent for FHWA in Federal…

Groundbreakings  1. Sundt Construction, Inc., and its joint venture partner DPR Construction recently started tenant improvements at the Biomedical Sciences Partnership Building on the University of Arizona Biomedical Campus in Phoenix. The improvements, a $20M construction manager at-risk project, includes 48KSF of improvements on the third and fourth levels and a portion of level five, which will add a wet lab and administrative research spaces to support additional faculty recruitment for the College of Medicine-Phoenix.  2. The Phoenix Suns’ renovations of Talking Stick Resort Arena are well underway and even ahead of the original schedule. Before the coronavirus shutdown that suspended the NBA season, the Suns planned to go into full demolition mode on the arena at the…

By Tasha Anderson for AZBEX  As the University of North Dakota (UND) Aerospace pilot program, in partnership with Chandler Gilbert Community College at Williams Gateway Airport, has experienced exponential growth, the need for more housing for their students has also grown, according to documents submitted to the Town of Gilbert.  “International students do not drive cars and it is difficult to find adequate housing near the provided flight operations.”  The UND Aerospace Foundation is looking to remedy that situation with a plan for a new student housing and market rate apartment complex to be located on 9.3 acres at the NWC of Williams Field Road and Somerton Boulevard.  The general contractor for…

Policy & Stimulus News  Legislators’ Wish Lists for 4th Stimulus Bill  As partisan bickering continues to plague discussions over a fourth round of stimulus and relief measures to offset fallout from the COVID-19 pandemic, Arizona legislators are making their wishes known in the halls of power and pushing their priorities. (Source: AZCentral)  1031 Exchange Deadlines Extended  Requests from Commercial Real Estate groups have been granted — the IRS has released Notice 2020-23, which extends 1031 deadlines to July 15th, 2020. Thomas Title & Escrow will host a webinar on Wednesday, April 15th, to discuss the extension. Space is limited. (Source: Thomas Title & Escrow)  Economic News  Tenants Need Post-Eviction Moratorium Plan  Tenants comforted by…

By Dave Hawkins for Mohave Valley Daily News  Elite Southwest Holdings will develop a solar project in Fort Mohave following separate actions at the April 6th Mohave County Board of Supervisors meeting.   The board voted in support of rezoning and a general plan amendment required for the 32MW facility that will provide power for the Mohave Electric Cooperative.  Applicant Brandon Butcher said about 84,000 solar panels will be spread over about 130 acres on a 220-acre parcel south of Joy Lane and west of Ashley Street.  Dissenting votes were based upon opposition expressed by property owners in the area.   Butcher told supervisors another array west of the site…

By Howard Fischer for Capitol Media Services via Arizona Daily Star  The COVID-19 outbreak is going to blow a billion-dollar hole in state finances.  And about 775 Arizonans will die by the end of May from the virus.  Those predictions from the Joint Legislative Budget Committee as staffers said the decline in state revenues plus additional costs to the state from the effects of the virus should leave Arizona with a $1.1B budget deficit by the end of the next fiscal year. That’s out of what is basically an $11.8B spending plan.  The potential fiscal effects of the pandemic are even more dire.  The report says…