Author: BEX Staff

By Joe Ferguson for Arizona Daily Star The Tucson City Council approved a conceptual proposal to redevelop the downtown Ronstadt Transit Center, building a new hotel, apartments, commercial space while retaining the bus station. The $60M deal with local developer Peach Properties would reshape the downtown landscape with four new high rises built mainly along North Sixth Avenue north of East Congress Street. However, the multi-year construction schedule would require the temporary relocation of the transit center. At this point, most believe Peach Properties will break ground sometime in 2021 if the federal government signs off on the project. The…

Giving Back 1. Nieves Riedel with Riedel Construction recently presented a check for $1,400 to the Spanish-language support group at Yuma Regional Medical Center Cancer Center. Awards & Accolades 2. RITOCH-POWELL & Associates (RPA) announced that Sara Reynolds, Marketing Coordinator, received the SMPS President’s Choice Award at the SMPS Arizona Phelix Awards on October 10th, 2019. 3. The 2019 Esperanza Latino Teacher Award honorees, from communities throughout Arizona, exemplify resiliency and academic excellence. After careful deliberation from an independent committee, Chicanos Por La Causa (CPLC) announced the following CPLC Esperanza Latino Teacher Award recipients: Daniel Garcia, Villago Middle School -…

Sales Transactions 1. Bridge Investment Group LLC’s (Bridge) subsidiary Bridge Office Fund Manager (Bridge Office) announced the acquisition of Phoenix Gateway Center, a 439.6KSF Class A office campus at N. 44th Street, Phoenix. 2. YAM Properties LLC has officially added The Shops at Norterra, located off the I-17 and Happy Valley Road, Phoenix to its growing portfolio of commercial real estate assets. 3. FPA Multifamily, LLC purchased Pinecliff Village Apartments, a 132-unit multifamily housing community at 1105 E. Poderosa Parkway, Flagstaff, for $21.35M. The NorthMarq Phoenix investment sales team of Trevor Koskovich, Bill Hahn and Jesse Hudson represented both the…

By Tasha Anderson for AZBEX The City of Phoenix is preparing to issue a Request for Proposals sometime in the next couple of weeks for the redevelopment of a 1.68-acre city-owned parcel downtown. The property, located at 723 W. Polk Street, currently houses the Luke-Greenway American Legion Post No. 1 building; however, they were under a 99-year lease which ended on February 20th. In September 2018, an 18-month lease extension was approved to let the Legion celebrate its 100th anniversary at its original location. Phoenix City Council gave authorization to issue an RFP for the selection of a developer at…

Source: JLL According to the Q3 Industrial Insight report from the Phoenix office of JLL, metro Phoenix now has more than 10MSF of industrial space under construction – the highest level of year-to-date construction activity since 2007. Despite still-rising construction costs, the JLL report cites in-migration and a growing pool of skilled labor as key factors driving the growth. “Companies have recognized the favorable operating conditions in the Valley, and they are not only driving new industrial construction but are also committing to new spec projects prior to completion of their construction,” said JLL Vice President Riley Gilbert. “Phoenix has…

Groundbreakings 1. Trammell Crow Co. and a fund managed by CBRE Global Investors have started construction on a four-building, 27-acre, 356KSF industrial complex, called Park Aldea, to be built near State Farm Stadium at 99th Ave and Cardinals Way, Glendale. Construction is expected to be complete by Q2 2020. 2. A new Marine Mart is coming to the Marine Corps Air Station in Yuma. A ground-breaking ceremony for the future Flightline Marine Mart was held September 26th. The new mart is set to open in the fall of 2020. It will contain a barbershop, Marine Corps Exchange shopping center and…

By Tasha Anderson for AZBEX Tempe-based developer, Kuber Development Co. has recently submitted plans to the City of Scottsdale for a new hotel at the NEC of 68th Street and Camelback Road. Kuber Development is requesting approval of a zoning district map amendment to modify the currently approved site plan in order to build the new four-story, 123-room hotel, dubbed Springhill Suites by Marriott, as well as approval for a Parking Master Plan to reduce parking requirements. The site, located at 6808 E. Camelback Road, which is bound to the north by Scottsdale Fashion Center mall parking, a retail store…

By Raquel Hendrickson for inMaricopa Estrella Gin Business Park effectively was sold by the City to two companies for development. Tuesday, Maricopa City Council approved the purchase agreement of 12.32 acres to J.E.T. Real Estate Holdings and 16.96 acres to Elpida LLC. The total purchase price between the two is $1.9M. The city is working with two different parties, but Woodglen Opportunities is the master developer working with Construction Solutions Company as the builder and contractor, City Manager Ricky Horst said. The Elpida LLC portion of the development is controlled by developer Joe L. Cook. Realtor Shane Cook of MHG…

Source: Arizona State University Associate Professor Jim Ernzen found his professional passion more than 23 years ago when he began teaching construction management at Arizona State University. What he realized even then is how much learning students need beyond classroom instruction to get a complete education and a solid jump-start on their careers. Especially vital to students’ success, Ernzen says, are mentorships, internships to get firsthand job experience, research training and connections to leaders in the industry. Personal commitment and financial backing by benefactors outside the university are critical to providing students those opportunities. But attracting such support requires focused…

Awards & Accolades 1. NEZ/FCI was one of eight firms/individuals honored at the Minority Enterprise Awards Ceremony on September 9th. Marvin Nez was in attendance to accept the National “Minority Construction Firm of the Year” award from the U.S Department of Commerce, Minority Business Development Agency. Boards & Commissions 2. Erin Raden has joined the Arizona Masonry Council (AMC) as the organization’s new executive director where she will lead and manage AMC’s Education and Promotion, Workforce Development, Building Code Advocacy and Government Relations efforts. Also joining AMC as Program Director is Cassie Mejia. She will be overseeing AMC’s workforce development…