Author: BEX Staff

Sale Transactions 1. Macerich Co. announced the sale of its 50% stake in Biltmore Fashion Park to RED Development. In an earnings call, Macerich said the sale let the company realize a $110M reduction in its overall debt. 2. Creation sold Midway Commerce Center, a nearly 302KSF master-planned industrial center in Chandler, for $57M. Longpoint Realty Partners was the buyer. Will Strong and Molly Hunt of Cushman & Wakefield brokered the sale. Ken McQueen, Chris McClurg and Blake Peters of Lee & Associates supported the leasing efforts. LGE Design Build was the general contractor. 3. Healthcare Property Advisors, an entity…

A pair of affordable multifamily developments from the Roers Company will come before the Casa Grande Planning and Zoning Commission this week for site plan and other considerations. The developer is requesting two major site plan approvals for projects on 23.2 acres near Peart Road and O’Neil Drive in the area of G-Diamond Ranch. The first project is a 191-unit, 55-plus age-restricted community on 8.2 acres. The development would have one three-story building. The second is a 216-unit standard apartment complex with nine three-story buildings and a single-story community building. Unit sizes would be two-, three- or four-bedroom configurations. Both…

By Roland Murphy for AZBEX As you might expect, we have an incredible volume of market reports and news articles coming in every week talking about how wonderfully or terribly (depending on the source and the issue) a given sector is performing at the moment. This has, apparently, been the week for Multifamily. Knowing that many of our readers are on many of the same lists that we are, we decided to take this space to save you the trouble of reading them all and provide a quick summary of what everyone else is saying and to cap it off…

By BEX Staff for AZBEX The Mesa Design Review Board will consider and vote on plans for two fire stations at its Aug. 13 meeting. Fire Station No. 223 is planned as a four-bay station on 3.18 acres of a larger 13.67-acre parcel at 3310 E. McDowell Road. The station’s exterior style is based on Mesa’s existing Fire Station 221. The 13.1KSF, single-story building will feature four apparatus bays, a 10-space dorm, bathrooms, a kitchen and dining area, office space, equipment storage areas, a turn-out room, a decontamination room, a conditioning room and general support areas. There will also be…

The latest problem facing the stalled construction on the X Phoenix luxury multifamily tower on West Van Buren Street is a series of lawsuits filed by the general contractor and several subcontractors against project owner The X Company. Construction on the second phase of the development was halted abruptly nearly a year ago. The X Company has also been dealing with construction issues at other project sites around the country. After work stopped last September, several companies associated with the project filed mechanic’s liens trying to secure payment for their services. Starting in April, several of those creditors began filing…

By Associated Builders and Contractors The construction industry had 295,000 job openings on the last day of June, according to an Associated Builders and Contractors analysis of data from the U.S. Bureau of Labor Statistics’ Job Openings and Labor Turnover Survey. JOLTS defines a job opening as any unfilled position for which an employer is actively recruiting. Industry job openings decreased by 71,000 in June and are down by 119,000 from the same time last year. “Construction industry job openings plunged to the lowest level since March 2023,” said ABC chief economist Anirban Basu. “This sharp decline is at least…

Awards & Accolades 1. Achen-Gardner Construction won the 2024 Public Works Project of the Year Award from the Arizona Chapter American Public Works Association for the Carefree Water Consolidation CMAR project. The award will be presented at the AZ APWA Statewide Conference at the El Conquistador Tucson. Groundbreakings 2. Republic Services Inc. announced construction has started on its new headquarters, a $39.7M, 265.5KSF office project with a $23.1M, 276.8KSF parking garage in Phoenix. Ryan Companies is the general contractor. DAVIS is the architect. 3. The Arizona Department of Transportation announced Improvements at Loop 303 and Grand Avenue interchange have begun…

By South Mountain Community College The Maricopa County Community College District and Maricopa Community Colleges Foundation have been selected as one of 11 community and technical colleges receiving Lowe’s Foundation Gable Grants nationwide. The district, in partnership with MCCF, will receive $1M in funding to support construction trades programs at Mesa Community College, South Mountain Community College and Rio Salado College. “Maricopa Community Colleges have a rich history of training skilled workers, many of whom join our local workforce and contribute to the region’s growing economy,” said Dr. Steven R. Gonzales, MCCCD Chancellor. “Thanks to generous support from the Lowe’s…

Air20 is planning to expand its north Phoenix manufacturing operation to meet demand for its HVAC systems. The company has exceeded $50M in orders overall, and Air20 Cooling LLC has shipped more than $30M in desiccant dehumidification systems. The systems are used in lithium-ion battery facilities, and the company is on pace to fulfill $60M worth of thermal management product orders by year-end, officials say. While lithium-ion battery manufacturers are a core customer base, the company also serves customers in data centers, indoor agriculture, semiconductors and other “mission-critical” environments. Air20 also builds hybrid AC systems that switch from evaporative cooling…

The Pacific Proving Technology Campus at Pecos and Crismon roads and the CyrusOne Data Center at Elliot Road and 96th Street both received a thumbs up from the Mesa Planning and Zoning Commission in its July 24 meeting. The Pacific Proving plan calls for 11 buildings, including nine data halls, a 150KSF office building and a 95KSF warehouse. The Commission recommended approval for a rezoning and general plan amendment on a 6-0 vote. The project will now advance to Mesa City Council for a final decision. CyrusOne’s project seeks to build a five-building campus with 1.43MSF of data centers uses.…