Author: BEX Staff

By Howard Fischer for Capitol Media Services Just a year after approval of the much-heralded Drought Contingency Plan, Arizona lawmakers once again face tough questions of how to deal with the increased demand for water in the face of drier weather — and getting water to where it is needed. The 2019 plan provides some short-term relief for the state as Arizona is required to withdraw less from the Colorado River. While few are convinced that this provides a permanent solution, it could create some breathing room, especially for farmers whose river supplies are being cut. But the emerging problem…

Awards & Accolades 1. Cushman & Wakefield announced that Larry Downey, Vice Chairman at Cushman & Wakefield in Phoenix, has been awarded the designation of Counselor of Real Estate (CRE) by The Counselors of Real Estate organization. 2. The late Edward W. Bullard, inventor of the hard hat, is a 2020 inductee in the National Inventors Hall of Fame. It was the first commercially available industrial head protection device. Boards & Commissions 3. Denise Allen, Business Development Manager with Solutions AEC, is a new UMOM Executive Board Member. 4. Congratulations to the Center for JOC Excellence 2020 Southwest Chapter Officers:…

Sales Transactions 1. The ConAm Group purchased Silverbell Springs, a 290-unit multifamily community at 7759 N. Silverbell Rd., Marana, for $50.25M. Tyler Anderson, Asher Gunter and Jeff Casper of CBRE Multifamily Institutional Properties represented the sellers, a joint venture between The Bascom Group and funds managed by Oaktree Capital Management, L.P. 2. A private investor purchased The Springs at Continental Ranch, a 196-unit multifamily community at 7901 N. Cortaro Rd., Tucson, for 37.25M. Tyler Anderson, Asher Gunter and Jeff Casper of CBRE Multifamily Institutional Properties represented the sellers, a joint venture between The Bascom Group and funds managed by Oaktree…

By Tasha Anderson for AZBEX Despite construction employment and activity levels not reaching pre-recession peak levels, 2019 was still a very good year and 2020 is poised to be even better. Such was the theme of the BEX 2020 Construction Activity Forecast event, held Wednesday, January 8th at the Tempe Center for the Arts. Nearly 300 attendees gathered with anticipation to hear the state of the construction industry in 2019, as well as the top projects and players and future outlook in each market sector presented by Rebekah Morris, BEX President & Founder; Rachel Pratt, Vice President of Operations; and…

Source: Arizona Commerce Authority Mark Anthony Brewing has chosen Glendale as the location of its new state-of-the-art brewery and BrewPure facility. Construction is slated to be completed in record time. The facility will be in Glendale’s “New Frontier” at the Loop 303. In a race against time, to meet the explosive demand for White Claw Hard Seltzer, the new 916KSF state-of-the-art facility will be up and running in under seven months. In other markets, projects like this can take years. “The primary reason we selected Glendale was the innovative thinking and personal support of Governor Doug Ducey, the city of…

Source: Office of the Governor Doug Ducey Governor Doug Ducey sent a letter to U.S. Department of Transportation Secretary Elaine L. Chao urging her to prioritize funding for the Tonto Creek Bridge in Gila County. Tonto Basin, which is divided by the Tonto Creek, is a 1,500-resident community in Gila County. When the Tonto Creek floods, it blocks residents from accessing schools, healthcare and amenities. In November, three children were killed after their family’s vehicle became stranded in the creek during a time of high water. “Residents need a bridge over Tonto Creek for basic safety and quality of life…

By Steve Burks for AZ Big Media Here’s a look at some of the top real estate companies to watch in Arizona. These companies have seen tremendous growth in Arizona and they will be the ones driving the industry forward, through calm water or rough seas. ARCHSOL ARCHSOL remains focused on providing collaborative architectural solutions to a wide-range of healthcare clients including Banner Health, Dignity Health, HonorHealth and others. Aspirant Development With its first downtown Phoenix high-rise apartment (The Stewart) completed and over 50 percent leased, Aspirant has turned its focus to The Stewart’s baby brother – a 17-story, 254-unit…

Source: Associated Builders and Contractors In November, estimated not seasonally adjusted construction unemployment rates increased nationally and in 38 states, fell in 11 states and were unchanged in one state (Washington) on a year-over-year basis, according to an analysis of U.S. Bureau of Labor Statistics data released by Associated Builders and Contractors. As of November 2019, the construction industry employed 145,000 more workers nationally compared to November 2018, even as the national NSA construction unemployment rate climbed from 3.9 percent to 4.4 percent over the same period, according to BLS numbers. This continues the trend of declining year-over-year growth in…

Groundbreakings 1. Townline Midtown Office, located at 2600 N. Central Ave. includes creating a unique lifestyle-focused office tower by re-envisioning and renovating the building lobby, common areas and landscape architecture in a style that’s modern, relevant, welcoming and timeless. parking garage. George Smith Partners expects to complete renovations in the fourth quarter of 2020. 2. Hines announced it will host a groundbreaking ceremony for its new 25-story, 379-unit luxury multifamily complex Adeline on January 14. 3. Arizona State University and the City of Mesa has broken ground on the ASU @ Mesa City Center development. The university will house its…

By Tasha Anderson for AZBEX Butler Design Group, on behalf of master developer, Plaza Companies, has recently submitted plans to the City of Scottsdale for the latest addition to the massive 1.2MSF Skysong mixed-use project. Skysong 6, also known in the architectural documents submitted to the city as Skysong 7, is planned as a new six-story, 340KSF, Class A office building and adjacent parking garage located on a +/-2.75-acre site at the SEC of the development on Scottsdale and McDowell Roads. The building’s design will include vertically dominant exposed cast-in-place concrete and masonry and glass projections on the lower levels.…