Author: BEX Staff

Giving Back 1. More than 350 kids received a little slice of Christmas thanks to donations to the 9th annual Santa’s Sak Program. A quick summary of this year’s outreach: Personally delivered Christmas to 70+ kids in 7 separate group homes across the valley Supported over 100 East African Refugee Children under the age of 11 Provided toys for 130+ children of enlisted soldiers serving at Luke AFB Donated over 100 toys to Recycle My Bicycle 70 stuffed stocking hand delivered 100’s of diapers/wipes for children in Group Home care that are raising kids of their own Awards & Accolades…

Sales Transactions 1. JLL Income Property Trust announced the acquisition of Fountainhead Corporate Park, a 300KSF, two-building Class A office portfolio comprised of two 6-story buildings located in Tempe. The property was acquired for $61.5M. 2. Triumph Properties Group purchased Deer Creek Village, a 308-unit multifamily complex north of the Loop 101 at 31st Avenue, Phoenix, for $49.5M. Cliff David and Steve Gebing with Institutional Property Advisors (IPA), a division of Marcus & Millichap, represented the seller, a private family/operating partner, and procured the buyer. 3. Green Courte Partners purchased The Aspens at Mariposa Point, a 202-unit seniors housing property…

By Tasha Anderson for AZBEX Owner, Puppyfeathers Limited Partnership and developer, Metro Commercial Properties recently submitted plans to the City of Mesa for the third phase of the Metro East Valley Commerce Center development. To be located at the NWC of Baseline Road and Horne Street, Metro East Valley Commerce Center III, “is ideally situated to provide commerce/manufacturing related employment uses adjacent to the U.S. 60,” according to the project’s narrative. The development will consist of five buildings on 24 acres totaling approximately 406KSF, with a maximum building height of 56 feet. The buildings will be designed for office, warehouse…

Source: Pima County Master developers interested in bringing additional sports amenities and commercial opportunities to the Kino South Complex have until March 11th to submit their proposals. The expansion site has more than 80 acres available for sports, events, hotel, retail, restaurant or other development. “This is an excellent opportunity for developers to work with the County to plan and construct one of the premier outdoor sporting facilities in the Southwestern United States,” Pima County Project Manager Nancy Cole said. “Kino Sports Complex is booked year-round with events that draw hundreds if not thousands of visitors who are looking for lodging and…

By Bree Florence for West Valley View At Saturday’s “State of the City” meeting, the city of Litchfield Park focused on new developments, including a new downtown city center and museum. A design for the city center was unveiled at the February 1st meeting, held at the Church at Litchfield Park. Mayor Thomas Schoaf discussed plans to develop a central hub in Litchfield Park’s downtown area for the city center property, north of Wigwam Boulevard between North Litchfield and North Old Litchfield roads. The parcels of land were purchased between 2014 and 2017. The project is expected to be completed…

Source: Arizona Department of Transportation With 30 years of maintenance part of the public-private partnership behind the Loop 202 South Mountain Freeway, taxpayers will face no additional cost to address spots next to some West Valley interchanges where the surface asphalt has deteriorated. The Arizona Department of Transportation will hold freeway developer Connect 202 Partners accountable for repairing the problem and is monitoring these spots, which are next to some West Valley interchanges, to ensure the safety of drivers. An exact reason hasn’t been determined for this deterioration, which is occurring where the rubberized asphalt surface layer meets the concrete…

Source: Colliers International The Greater Phoenix office market experienced its best year since 2008, posting strong net absorption and adding more than 3.4MSF of new space to the inventory. The metropolitan area has been recognized with three of the Nation’s top ten “Best Cities for Jobs,” as researched by WalletHub. Scottsdale, Chandler, and Tempe were all ranked, based on job growth in 2019 and our healthy economy. Sizable job creation announcements from companies like DoorDash, Open Door and Deloitte all contributed to office leasing. The 12-month period ending in November brought 56,500 net new jobs, increasing the workforce by 2.6…

Groundbreakings 1. Cousins Properties and Hines announced they have commenced development of 100 Mill, a 287KSF, 18-story office tower at the SWC of Mill Avenue and Rio Salado Parkway in Tempe. Initial occupancy is expected in the first quarter of 2022. Total development cost is anticipated to be approximately $153M. 2. Irgens broke ground on 999 Playa del Norte, an 83-foot-tall, six-story, 94.3KSF, Class A office building just north of the Rural Road bridge in Tempe. WORKSBUREAU is the architect and A.R. Mays Construction is the general contractor. 3. Fain Signature Group and Dorn Homes recently broke ground on Parke…

By Tasha Anderson for AZBEX As 2020 settles in, BEX Events kicked off the first Leading Market Series of the New Year with a close look into the Higher Education market, specifically toward Arizona State University. More than 80 registered attendees gathered at ASU Skysong 3 on Thursday, February 6th, for the event to gain insight into any upcoming projects as well as how to do business with Higher Education owners. BEX Founder and President, Rebekah Morris began the presentation by giving the attendees a brief overview of the market, including top players, with analytics taken from the BEX Database.…

Source: inMaricopa.com A state lawmaker from Maricopa is taking a direct route to fund an overpass on State Route 347 across Riggs Road. Rep. Bret Roberts is the primary sponsor of House Bill 2802. The brief text of the bill asks for the allocation of $35M for the construction. If passed, the money would be appropriated from the general fund for fiscal year 2020-21. Roberts cited the continuing growth of Maricopa, and the projected population of 124,000 in 20 years, as his reasons for taking the matter to the Legislature. At the same time, Pinal County is studying solutions for…