Author: BEX Staff

By Tasha Anderson for AZBEX The Cave Creek Town Council has approved a rezoning request of a 4-acre site south of the Carefree Highway between 52nd and 53rd streets, for the development of a new micro-hospital. The property consists of two parcels and is located adjacent to a Sprouts-anchored retail center that is currently under construction. Developer, United Real Estate Holdings, LLC wishes to rezone the property from Desert Rural Zone to General Commercial in order to build the 31.5KSF hospital. According to the documents filed with the town, the Abrazo Community Health-branded hospital will be a single-story facility with…

Groundbreakings 1. Optima real estate development firm is underway with its third and fourth luxury residential towers, including the $5M 7180 Optima Kierland. Optima Kierland Center has been named a pilot project for the city of Phoenix’s newly-adopted International Green Construction Code. Master-planned community embodies the design WIPof architects David Hovey, Sr. FAIA, Optima’s founder/CEO, and David Hovey, Jr. AIA. 2. Toll Brothers Inc. is moving dirt in Surprise for an 800-acre community it has named Sterling Grove. The company will invest about $250M to develop Sterling Grove, which is within the 3,200-acre Prasada master-planned community being developed by a…

By Tasha Anderson for AZBEX The City of Goodyear and Globe Land Investors, LLC (Globe Corporation) have recently issued a Request for Qualifications for a Design-Build firm for the development of the City Hall portion of the Goodyear Civic Square at Estrella Falls project. The project, located Adjacent to Bullard Wash, west of 150th Dr, between Monte Vista and McDowell Roads, is proposed as a four- or five-story, 125KSF Class A+ office building consisting of a 20KSF public library, a two-acre Civic Square Park, City Council Chambers and department work spaces, exterior public gathering spaces and lobby and customer services…

Boards & Commissions 1. Heidi Kimball, Senior Vice President with Sunbelt Holdings, has been selected as the new Chair of the Urban Land Institute, Arizona District Council (ULI Arizona), serving on a voluntary basis for a two-year term that started on July 1. ULI Arizona also announced Mark Winkleman, President of MGS Realty Partners, is the incoming Vice Chair, and Heather Personne, Managing Principal of Evolve Ventures, is the incoming Treasurer. Company News 2. Hylan West, A Phoenix-based construction firm that specializes in fiber and utility projects has expanded with a new Valley office in Mesa at 6350 S. Sossaman…

Sales Transactions 1. Solano Ridge I and Solano Ridge II Apartments, a 561-unit multifamily housing community located near 35th Avenue and Northern, sold this month for a combined price of $56.7M. Over the last 30 months, 3rd Ave Investments invested $2.5M into the property to upgrade the apartments, clubhouse and common areas. The NorthMarq Phoenix team of Trevor Koskovich, Bill Hahn, and Jesse Hudson represented both the seller and the buyer, Intercapital Partners. 2. Bow River Capital Partners purchased Valley Commerce Center, a multi-tenant office building at 4745 and 4747 N. 7th St., Phoenix, for $27.95M. Steve Lindley, Eric Wichterman,…

Source: SimonCRE SimonCRE closed on a former Safeway-anchored shopping center, Park Northern, located at the NEC of 35th and Northern avenues in Phoenix. The former Safeway burned down in a fire last July, due to storm damage causing a roof collapse and broken gas line. Now, one year later, SimonCRE is set to redevelop and re-tenant the entire shopping center over the next several years with an investment of over $18M. The revitalization of Park Northern starts with backfilling the former Safeway footprint with a proposed 60KSF VASA Fitness. The national gym franchise aims to propel growth into every community…

Awards & Accolades 1. Arizona State University’s Metis Center for Infrastructure and Sustainable Engineering selected ADOT’s Laguna Creek Bridge improvement as one the recipients of its 2019 Sustainable Infrastructure Awards. Faculty reviewed nominations from public, private, nonprofit and academic organizations on innovative approaches that advance sustainability in infrastructure. Groundbreakings 2. Renovations will start Monday at Tempe City Hall. The architecturally unique inverted pyramid will get a new reception area, new restrooms, upgraded technology and audio systems, new seating and more efficient air conditioning, heating and plumbing systems. Dick & Fritsche Design Group and Core Construction are handling the renovations and…

By Wayne Schutsky for Scottsdale Progress Hours before a Scottsdale City Council meeting on July 2, city staff pulled a controversial item from consideration that would have seen the city shell out close to $3M to pave the way for the proposed Museum Square project. A Progress report June 30 on the proposed deal triggered a wave of public backlash on social media, with many residents urging council members to vote no on the purchase. The Council was set to consider purchasing a ground-level commercial unit at the Gateway at Main Street Plaza condominium complex for $2.25M. The unit —…

Giving Back 1. Fulton Homes and 99.9KEZ hosted another remote for their ‘Stuff the Bus’ program on July 6. Throughout the summer, Fulton Homes is donating school supplies to deserving families as part of their “Stuff the Bus” campaign. The annual donation drive generated an estimated $5K worth of school supplies in 2018, and is set to meet this year’s goal of gathering donations for 150 children at the Boys and Girls Club of the East Valley. 2. Fulton Homes is in their seventh year of hosting their ‘Cause for Paws’ campaign, which seeks to improve awareness about scorching pavement…

Sales Transactions 1. The Praedium Group, a New York City-based real estate investment firm, has recently acquired two brand-new, multifamily properties in the southeast Valley. Harper, located in Tempe was purchased by Dallas-based JLB Partners for $93.8M in June, and Town Commons, located in Gilbert, sold in June for around $73.5M. 2. Tides Equities LLC has two properties totaling 620 units in escrow, for $80.7M. Those acquisitions — the 436-unit Deer Valley Apartments and the 224-unit Sterling on 28th — bring total purchases to 1,900 units spanning six properties so far this year. 3. Esplanade III Owner LLC, recently purchased…