Author: BEX Staff

By Associated Builders and Contractors Associated Builders and Contractors has reported that its Construction Backlog Indicator held steady at 8.4 months in July, according to an ABC member survey conducted from July 22 to August 6. The reading is down 0.9 months from July 2023. Only the largest contractors, those with greater than $100M in annual revenues, have longer backlog than one year ago. On a monthly basis, the decline in backlog was driven by declines among the smallest contractors, those with less than $50M in annual revenue. ABC’s Construction Confidence Index readings for sales, profit margins and staffing levels…

By Roland Murphy for AZBEX In what is quickly becoming a theme in construction-related trend reporting, the newly released Marcum Accountants and Advisors 2024 Construction Survey showcases a generally positive and confident outlook across the industry despite lingering headwinds. Key findings in the report and its accompanying announcement include a sense of cautious optimism tempered by ongoing economic and political concerns, “particularly in an election year.” Public sector investment—most notably through the Infrastructure Investment and Jobs Act, CHIPS and Science Act, and Inflation Reduction Act—is expected to continue fueling industry growth. This growth is impeded, however, but the fact that…

Groundbreakings 1. Abrazo West Campus broke ground on its Inpatient Rehabilitation Hospital, a 27KSF space in the Abrazo Litchfield Medical Building under construction in Goodyear. The 24-bed hospital is expected to be completed in September 2025. 2. The City of San Luis announced the groundbreaking of a two-million-gallon water storage tank at Well 7, and a new well and Manganese Treatment Unit at Well 5. Official expect to complete construction on the Well 7 project in April 2025. MGC Contractors expects to complete Well 5 in March 2025. Progress Reports 3. LG Development, a division of LG Group, announced the…

By BEX Staff for AZBEX Three industrial projects will have their site plans heard by the Buckeye Planning and Zoning Commission this week. If all are approved, it could lead to a total of more than 650KSF in new development in the city. Sunrise Commerce Center The largest of the three proposals, Sunrise Commerce Center, is planned by Mark IV Capital on approximately 24 acres at Apache and Yuma roads south of Interstate 10. Plans call for 342.9KSF of warehouse space and 38.1KSF of office area. According to the site plans, the specific building sizes break down as: Building A…

By Roland Murphy for AZBEX – BEXclusive Merit Partners has changed a plan submitted last year for a roughly 43-acre site at the NWC of Crismon and Pecos roads from potential distribution, logistics, warehousing, manufacturing and similar uses to a new data center campus. The developer will face hearings before several Mesa bodies this month to effect the change. The updated plans change the name from Legacy Business Park to Merit Legacy Technology Park and overhaul the entire scope of the development. Last August, Merit Partners initiated an annexation and rezoning process for the Legacy Business Park site “to provide…

The size of a planned hotel development in Sedona’s Uptown area will rest with the Sedona City Council this week as it hears a zoning request on the project. Dutchman’s Cove LLC (Mike Stevenson, Jennifer May and Colleen TeBrake) has requested that Council revert zoning on six parcels the company is purchasing from Axys Capital next to Oak Creek and the Sedona Arts Center. The parcels were originally zoned general commercial, with the parts situated on the bank of Oak Creek zoned for single-family use. In 1998, Council rezoned the parcels as planned development. That zoning was continued under a…

By BEX Staff for AZBEX New data for construction wage growth shows Arizona’s two major metropolitan areas are among the Top 15 cities tracked. The report by Construction Coverage shows Tucson construction workers saw wages increase by 5.7% over the last five years, placing the city at Number 7 nationwide. Phoenix, meanwhile, came in at Number 15, with construction wages increasing 3.1%. California’s San Jose-Sunnyvale-Santa Clara metro saw the highest construction wage growth at 8.7%. By state, Arizona ranked Number 7, showing construction wage growth of 3.2%. Maine took the top spot at 6.2%. The average construction and extraction industry…

Giving Back 1. The Rosendin Foundation completed its second year of TRF Camp Build, a nationwide program to help middle schoolers explore their interest in building and craftsmanship. Sponsors and donors include Rosendin, MPS, Milwaukee Tool, DEWALT, United Rentals, Border States, Graybar and Sherwin Williams. Awards & Accolades 2. Site Selection magazine named Maricopa County the best in the country for economic development. Promotions 3. Ryan Companies has promoted Steve Stecker to Senior VP of Project Development, Healthcare. 4. Avison Young announced the promotion of Mark Seale to Market Leader from Principal and Director of Brokerage Services. New Hires 5.…

Sale Transactions 1. CBRE negotiated the $79M sale of Alta North Central, a 229-unit multifamily community in Phoenix. Asher Gunter, Matt Pesch, Sean Cunningham and Austin Groen of CBRE represented the seller, an undisclosed institutional fund manager. Troy Tegeler and CJ Connolly of CBRE Debt & Structured Finance Team arranged financing for the buyer, Christiansen Ventures LLC. 2. Green Bay Packaging, Inc. has paid $16.5M for an 80-acre site near the SWC of Maricopa-Casa Grande Highway and Ethington Road in Casa Grande. Seller Auza Ranches LLC was represented by Land Advisors Organization. Green Bay Packaging has not yet announced its…

By Roland Murphy for AZBEX More than 200 attendees made their way to south Phoenix’s Desert Willow Conference Center Wednesday for the 2024 BEX Private Development Summit. While Desert Willow was a new venue, event attendees were treated to the same diversity of topics, panelists and data they have come to expect from a BEX industry conference. Introduction: Arizona Construction by the Numbers After a brief welcome and introductory remarks from program emcee Michael Martella, senior economic development manager for the Town of Gilbert, BEX President & Founder Rebekah Morris went into her trademark overview of market trends and economic…