Author: BEX Staff

Sales Transactions 1. Forum at Gilbert, LLC purchased The Forum at Gilbert Ranch, a 92K+SF Class A office and medical campus at 1472,1482,1528 and 1530 E. Williams Field Rd and 2314 S. Val Vista Dr., Gilbert, for $20.5M. Geoff Turbow, Matt Pourcho, Anthony DeLorenzo, Gary Stache, Bryan Johnson and Doug Mack of CBRE Investment Properties – SoCal/Phoenix represented the seller, EverWest Real Estate Investors. Jeff Stein and Jeff Harris of CBRE Debt & Structured Finance in Houston arranged the financing for the buyer. 2. BCH 3001LP purchased Bellum Manor, a 214-unit apartment located near the I-17 freeway and Thomas Ave…

By Tasha Anderson for AZBEX The City of Surprise Planning and Zoning Commission recently reviewed a site plan for a new townhome development just north of the NWC of Cactus Road and Cotton Lane at its November 7th meeting. Applicant, Bowman Consulting, LTD, on behalf of owner, NWC Cotton Lane and Cactus, LLC, submitted for site plan approval for the development, known as Hayden Farms Townhomes. The project is proposed as 174 connected townhome units in two separate styles: the “Delinda” and the “Tucker”. All units will be housed on onsite private drives. The Delinda design is comprised of four-…

By Brandon Brown for Phoenix Business Journal The Phoenix Suns on Thursday revealed the first images of how Talking Stick Resort Arena will look like after it gets an extensive facelift, at the price of $230M, over the next two years. The renderings focus on the upgrades for the fans, but behind all the glitz and glam, extensive work will be done on the plumbing, roof and electric systems. Okland Construction is serving as the general contractor and the architecture firm is HOK. Fans will have a whole new experience when entering the arena. The Casino Arizona Pavilion will be…

Source: City of Tempe Tempe is seeking input on a draft Development Bonus Program as part of the city’s Urban Core Master Plan process. A development bonus would provide the opportunity to add housing units or commercial office space in exchange for providing community benefits, such as affordable/workforce housing, sustainability elements, public improvements or amenities, and/or preservation of historic resources. Beginning December 3rd, community members can attend a public meeting or read online materials and provide feedback – either in person or through an online survey. The bonus program would further incentivize developers to opt-in to the city’s proposed Urban…

Source: Associated Builders and Contractors Leaders of the U.S. construction industry remained confident through September 2019 regarding near-term prospects for sales, staffing levels and profit margins, according to the Associated Builders and Contractors’ Construction Confidence Index released. However, the level of optimism continues to dim. For the first time since January, fewer than 50 percent of contractors expect profit margins to increase over the next six months, even though approximately 58 percent of contractors anticipate sales rising over that span. A worsening skills shortage is the primary source of emerging angst, as an already stretched labor market is expected to…

Awards & Accolades 1. Donna Chiappini, Business Development for Speedie & Associates, was recognized with a Lifetime Achievement award at the Business Development Guild’s second annual Business Development Symposium on November 5, 2019. Prior to joining Speedie & Associates, Donna had a background in vertical construction. Switching to a consulting engineering firm required a new skill set which she enthusiastically embraced. Her character remained: one of a mentor and an outstanding reputation, sticking with the firm through thick and thin. At the end of 2019, Donna is ready to retire and quite literally sail away. 2. Larsen Baker announces that…

Sales Transactions 1. Wilshire Capital Partners purchased 3900 Camelback Center, a Class A, LEED Gold Certified office building located in the Camelback Corridor, for $54.5M. Newmark Knight Frank Co-Head, Kevin Shannon cooperated with Executive Managing Director CJ Osbrink to represent the developer, builder, owner and property manager, Ryan Companies, in the disposition of the 177.52KSF asset to the buyer. Along with Shannon, Executive Managing Directors Paul Jones, Ken White and Brunson Howard and Senior Managing Director Rick Stumm also cooperated with Osbrink to represent the seller. 2. 3434 E McDowell, LLC purchased La Casa at McDowell, a 128-unit apartment community…

By Tasha Anderson for AZBEX The City of Phoenix Housing Department has recently issued a solicitation to gauge developers’ interest in building and/or rehabilitating more affordable rental housing. The Call for Interest, approved by Phoenix City Council on November 6th, allows the Housing Department to “facilitate construction, acquisition, and/or rehabilitation of affordable rental housing by providing financing at very low interest rates or through forgivable notes,” according to the CFI. The city is looking for developers, either non-profit or for-profit, and/or eligible Community Housing Development Organizations (CHDOs) with experience in developing quality affordable housing geared toward the homeless and special…

By Cindy Barks for Daily Courier The long wait is over for the new Prescott Regional Airport terminal project. During a Prescott City Council study session Tuesday, November 19th, Mayor Greg Mengarelli announced that he had just received word that the airport terminal project had been confirmed for a $10M Federal Aviation Administration (FAA) grant. And that means that the postponed groundbreaking on the terminal project could occur by as early as December. Mengarelli told the audience that he had heard from the office of U.S. Sen. Kyrsten Sinema just before the start of Tuesday’s meeting. City officials had long…

By Bill McMillen for Mohave Valley Daily News In perhaps the most historic meeting since incorporation 35 years ago, the Bullhead City Council on Tuesday took small steps that will affect the city’s future for years to come. The council approved an intergovernmental agreement with Clark County for construction of a bridge at the southern extension of the Bullhead Parkway, then accepted a bid for a little more than $3.2M from McCormick Construction Co. of Bullhead City to build that extension that will provide a connection from the new bridge that crosses the Colorado River from Nevada to Arizona. The…