Author: BEX Staff

Source: Associated Builders and Contractors In June, estimated not seasonally adjusted construction unemployment rates fell nationally and in 40 states and increased in 10 on a year-over-year basis, according to an analysis of U.S. Bureau of Labor Statistics data released by Associated Builders and Contractors. For the second month in a row, all 50 states posted construction unemployment rates of less than 10 percent. The construction industry employed 200,000 more workers nationally compared to June 2018, dropping the June 2019 national NSA construction unemployment rate 0.7 percent, from 4.7 percent to 4 percent, according to BLS numbers. “While severe weather,…

Groundbreakings 1. Three “state-of-the art” data centers that Microsoft Corp. has begun constructing in Goodyear and El Mirage will employ a total of 110 people in their first phases, which are planned to open around 2021. The first phase for the Goodyear sites will total 486KSF while the first phase of the El Mirage site will total 254KSF. 2. McCarthy Building Companies broke ground on construction of a new 220KSF medical tower at Dignity Health Chandler Regional Medical Center earlier this month. Slated to open in spring 2021, Tower D will bring the medical facility’s total bed count to 429.…

By Tasha Anderson for AZBEX The City of Phoenix has issued a Request for Proposals for a firm to redevelop the Regency Parking Garage site at 40 N 2nd Street, downtown. The 41.2KSF site currently houses the Regency Parking Garage, a multi-story structure with commercial space on the ground floor that provides parking for the Phoenix Convention Center. The City of Phoenix wishes the selected firm to “create an appropriately dense, infill redevelopment project that capitalizes on the Site’s prominent urban location and provide a mix of complementary land uses that facilitate urban activation, which may include office, hotel, retail,…

By Hayley Ringle for Phoenix Business Journal As solar investments by businesses grow across the U.S., Arizona is a leader with 148 megawatts of installed corporate solar projects, according to a recently released report. The Solar Energy Industries Association’s 2018 Solar Means Business Report, released July 25, said tech giant Apple Inc. is now the leading user of corporate solar in the U.S. with nearly 400 megawatts of installed capacity. In 2018, Apple announced its global operations were powered 100 percent by renewable energy sources. In Arizona, Apple’s $2B Mesa data center is purchasing solar power from the 50-megawatt Bonnybrooke…

By Wayne Schutsky for Scottsdale Progress A proposed 150-foot downtown office building surpassed a major hurdle on July 10 when it received thumbs up from the Scottsdale Planning Commission. Still, The Marquee, a class-A office building that would sit just north of the Scottsdale Galleria Corporate Centre on Scottsdale Road, did not win over every commissioner, with both Christian Serena and Ali Fakih expressing reservations they thought merited further discussion. The Planning Commission ultimately voted 4-2 to recommend the project for approval to the City Council. Both Serena and Fakih expressed support for the use, saying high-end office space makes…

Giving Back 1. The Tucson office of engineering consulting firm Terracon recently presented a $3,500 check from its foundation to Tucson Clean and Beautiful, which will use the money for its youth environmental leadership mentoring program. 2. Coe & Van Loo Consultants coordinated a clay shooting event to benefit Arizona Friends of Foster Children Foundation. 64 shooters participated in the event and earned $4,500. The Arizona Friends of Foster Children Foundation promotes self-esteem and enriches the lives of Arizona’s children in foster care by funding social, athletic and educational activities. 3. For the third year Adolfson & Peterson Construction is…

Sales Transactions 1. Institutional Property Advisors (IPA) announced the sale of Sonoma Sol, which will be renamed “Cordova Apartments,” a 320-unit multifamily property in Phoenix’s West Valley. The asset sold for $32.25M. David and Steve Gebing, IPA senior managing director, represented the seller, Mentor Properties, and procured the buyer, a joint venture between an affiliate of The Roxborough Group and SB Real Estate Partners. 2. Northland Investment Corporation recently announced the acquisition of The Canyons at Linda Vista Trail in Oro Valley. The property offers 228 one- to three-bedroom multifamily units across 13 acres and is Northland’s fourth acquisition in…

By Tasha Anderson for AZBEX The City of Mesa recently reviewed plans for the development of three new hangars at Phoenix-Mesa Gateway Airport, at its July 9 Design Review Board meeting. Winton Architects, Inc., on behalf of developer, Sun State Builders, is proposing to develop three hangars of various sizes south of East Ray Road and east of Power Road at 5559 S. Sossaman Road. The location is adjacent to the taxi lane, close to the runway. The project will be built as speculative offices for prospective tenants and will be developed in two phases. The first phase, or Hangar…

By BEX Staff for AZBEX The Arizona Department of Emergency and Military Affairs has recently issued a Request for Qualifications for Design-Build Criteria Consultants and Technical Advisory Services for the development of a new readiness center in Tucson. The Army National Guard wants to design and construct an 86.8KSF building called the Rita Road Readiness Center, on state land at 7901 S. Rita Road. According to an Arizona Daily Sun article dated November 1, 2018, the project will be built to house two transportation companies and a field artillery attachment that are currently housed in outdated or overcrowded facilities. “One…

Source: JLL The Phoenix office market has achieved 24 straight quarters – or six straight years – of positive net office space absorption, according to the JLL Q2 Phoenix Office Insight report. At the same time, vacancy has decreased by 11 basis points, marking its lowest level in almost 12 years. According to JLL, the Phoenix office market ended the second quarter with 2.17MSF of year-to-date net absorption, a rate that exceeds the last peak in the market, which occurred in 2016. The overall vacancy rate sits at 17.8 percent and average asking rents have reached $27.18 per-square-foot, a notable…