Author: BEX Staff

We focus on one thing and one thing only – business opportunities for the Arizona A/E/C community. If it doesn’t give someone information about an upcoming project, company or help a reader make better business decisions, it’s not our thing. We put on 10 public events a year. Altogether, more than 2,700 attendees come to BEX events each year! History of AKA’s – each issue we play with a “Title” or AKA. This tradition began in 2010 when it was just Rachel and Rebekah. The concept is “we don’t really care too much about titles” so we have fun with…

We focus on one thing and one thing only – business opportunities for the Arizona A/E/C community. If it doesn’t give someone information about an upcoming project, company or help a reader make better business decisions, it’s not our thing. We put on 10 public events a year. Altogether, more than 2,700 attendees come to BEX events each year! History of AKA’s – each issue we play with a “Title” or AKA. This tradition began in 2010 when it was just Rachel and Rebekah. The concept is “we don’t really care too much about titles” so we have fun with…

Source: Caliente Construction Inc. Caliente Construction Inc., broke ground February 18th on a combination office and hangar building at Phoenix-Mesa Gateway Airport for Aviation Performance Solutions, the world’s largest provider of upset prevention and recovery training. Caliente collaborated with architect Dekker Perich Sabatini on the $9M development that initially consists of approximately 10KSF of office and training space on two levels and 14KSF of hangar space. The new facility will provide airplane pilots with the advanced skills to overcome the No. 1 cause of aviation-related fatalities: loss of control in-flight. Aviation Performance’s new headquarters facility complex will be two separate…

Source: Colliers International The Greater Phoenix industrial real estate market has a healthy equilibrium in the midst of bringing millions of new square feet to its inventory. Vacancy remains below 10 percent after the city added 6.4MSF of new space in 2019 and has another 10.5MSF under construction. Greater Phoenix has a checkered history of overbuilding its real estate markets during strong economic times but appears to be avoiding that trend during this cycle. The city remains in the top five American metro areas in terms of job growth. During the 12-month period ending November 2019, employers added 56,500 net…

Groundbreakings 1. Willmeng Construction Inc. and Fann Contracting recently began construction on a new $13.9M, 18KSF passenger terminal at Prescott Regional Airport Ernest A. Love Field. Designed by DWL Architects, the building will replace the current terminal that dates back to the 1940s and is expected to be completed in the Spring of 2021. 2. A public groundbreaking ceremony is set for February 27th for the new, four-story building called at The Bridges, a mixed-use development north of Interstate 10 between South Park Avenue and South Kino Parkway. The Boyer Co. will build and own the 120KSF building, called The…

Source: RCM LightBox According to a new report, commercial real estate investors, brokers and lenders are expecting a potential surge of activity in Phoenix and other U.S. markets in the first half of 2020, ahead of the U.S. election. Participants in the 2020 RCM LightBox Investor Sentiment Report noted the strong market fundamentals, available investor capital, the potential for a slowing economy, and the impending presidential election as contributing factors in boosting investment levels before the election. After being particularly hard hit during the Great Recession, Phoenix has emerged as an economic leader, especially within the multifamily and industrial sectors. “Phoenix may…

I am thrilled to be able to note this monumental occasion – 10 years in business, 1,000 issues of the AZBEX Digital Magazine. I am grateful to Rachel Pratt, my Vice President of Operations, for being by my side since the beginning, and to the BEX staff who not only work hard every day, but they take my crazy ideas and bring them to life in amazing ways. They make me look good and I would not be here without them. I am also grateful to you: our clients, subscribers, event attendees and contacts. Your loyal support is the reason…

By Tasha Anderson for AZBEX Dallas, Texas-based real estate development firm, Atticus Real Estate Services recently submitted plans to the City of Phoenix for a new multifamily mixed-use development to be located at the SWC of 16th and Colter Streets. The project, dubbed Willowick or 16th and Colter PUD, will provide “new housing and employment opportunities within the Camelback East Village, demonstrates a significant investment in the community, and will have a positive impact on the area,” according to the project’s narrative. Willowick is proposed as a 237-unit multifamily, five-story apartment complex with approximately 6.9KSF of ground-floor retail. The multifamily…

By Melissa Rosequist for Independent Newsmedia An outline of marching orders for the 58 approved bond projects is beginning to take shape at City Hall as Scottsdale officials define municipal priorities. During study session meeting Scottsdale city staff presented a timeline for the projects to be paid for by voter-approved funds. Last November, residents of Scottsdale approved all three bond questions: Question 1: Parks, recreation and senior services: 14 projects, $112.6M; Question 2: Community spaces and infrastructure: 20 projects, $112.3M, and Question 3: Public safety and technology: 24 projects, $94.1M. Projects that require immediate attention between now and June 30th…

By Erika Morphy for GlobeSt.com Multifamily acquisition yields and price per unit have hovered at record lows for several years. What does that mean for pricing? Yardi Matrix spells it out in its newest report on the asset class: It means investors are willing to pay up even as market conditions change. The average price per unit in 2019 was $155K up 8.8 percent from 2018, it notes. One reason the sector will remain in demand among equity investors is its stable cash flows, Yardi Matrix says. On the debt side, Fannie Mae and Freddie Mac have a combined $160B…