Author: BEX Staff

Awards & Accolades 1. LSW Engineers announced its latest award: The American Society of Heating, Refrigeration and Air Conditioning Engineers (ASHRAE) – Central Arizona Chapter selected Embry Riddle Aeronautical University Classroom and Lab Building in Prescott, AZ as the “Best Institutional HVAC Design” during the chapter’s Fifth Annual Honors & Awards Dinner on May 16. Groundbreakings 2. Laser Components has broken ground on a new facility in Chandler that will serve as a central development and production site for all the company’s detector technologies. Construction of the 26KSF facility is expected to be completed by spring 2020. 3. Construction has…

By Tasha Anderson for AZBEX The City of Phoenix will hear a rezoning request for the development of a new gated condominium development, at the SWC of 24th Avenue and Avalon Drive, at its June 5 City Council meeting. Applicant, Pew & Lake, PLC, on behalf of Ridgeway Investments, LLC of Provo, Utah submitted the request to rezone the entire 2.05-acre site at 3030 N. 24th Avenue from Single-Family Residence District to Multifamily Residence District. According to the applicant’s submittal, the site is currently vacant and is bordered by multifamily developments to the north and west, a parking lot and…

By Mara Knaub for Yuma Sun After receiving $100K in grant funding for a proposed “multiversity” campus, the inaugural Board of Directors met April 26 to begin discussing the project. The Yuma Multiversity Campus will serve as an education hub for existing institutions of higher education and the degrees they offer. The board discussed bringing community, academic and industry partners together for complete planning and development that will be key to turn the multiverse concept into a reality. Downtown University Plan In 2017, the council adopted a plan for revitalizing the Old Town South Subarea that includes an initial combined…

Giving Back 1. The Sundt Foundation awarded a total of $29K in grants to 16 Tucson-area nonprofits during its second-quarter disbursements. The Sundt Foundation awards grants quarterly to area charities that support disadvantaged children and families. 2. Engineering consulting firm Terracon raised $10,279 for Kids at Hope through their annual golf tournament and presented the check to the organization at the Annual Youth Development Master’s Institute’s Dean’s Recognition Lunch on May 6. The organization focused on youths 3-18 that empowers child and youth serving institutions to transform their cultures through a cultural strategy that proves all kids can succeed. 3.…

Sales Transactions 1. CBRE announced the sale of The CORE, a newly built Class A, 282-unit multifamily complex at 15333 N. Hayden Rd in Scottsdale for $80.4M. Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch of CBRE represented the seller, Sunrise Luxury Living. The buyer was not announced. 2. Goodman Real Estate recently purchased the 274-unit West Town Court multifamily property in Phoenix for $42M. Citymark Capital and its operating partner, InterCapital Group are the sellers. 3. Compass Datacenters purchased a 99-acre parcel at the NWC of Bullard Ave and Yuma Rd in Goodyear for $19.16M for their new…

By Tasha Anderson for AZBEX P.B. Bell Communities is proposing to build a new assisted living community with nursing home on 4.11 acres at the SEC of Banner Gateway Drive and Old Greenfield Road in Mesa. The City of Mesa heard and approved a request to rezone the property from Agriculture to Multiple Residence District 4, a site plan approval and a request for a special use permit to allow for a nursing and memory care component, at its May 8 Planning and Zoning Board Meeting. The property is located within one mile of the Banner Gateway Medical Center. “The…

Groundbreakings 1. Conor Commercial Real Estate and Globe Corp. broke ground on May 14 on one of the first industrial opportunity zone projects in the Valley, Airport 40, a $33M industrial project at University Dr and 40th St. The project is expected to be complete in Q2 2020. 2. The 125KSF Pollack Paseo Del Oro shopping center, owned by Pollack Investments and located at the NEC of Alma School and Elliot roads in Chandler started construction on May 15. 3. Grande Vita, A BioCity Campus, broke ground on a $300M, 20-acre, multi-use, campus-style community at Crismon Road and Hampton Avenue…

By Tasha Anderson for AZBEX The City of Scottsdale has received plans for a new 552-unit multifamily residential community at the NWC of Hayden Road and Princess Boulevard. Developer, Mark-Taylor is requesting Development Review Board approval of a site plan, landscape plan and building elevations for the project, dubbed San Artes. The proposed project consists of approximately 552 dwelling units, comprised of a mix of 180 one- 297 two- and 75 three-bedroom units, on a +/-34-acre site. A total of 1,060 parking spaces will also be provided. Mark-Taylor recently purchased four lots totaling +/-46.86 gross acres at auction from ASLD…

Giving Back 1. Danny Gumm, Operations Manager at Sundt Construction, has shaved his seven-year-old beard for charity. A GoFundMe campaign called “Shave it or Save it” where donors could cast a ‘save it’ or ‘shave it’ vote has raised $67K with an original goal of $50K. Which Sundt later matched for a total of over $129K to be donated to the Sundt Foundation. You can watch the event highlights here. Awards & Accolades 2. AZ Big Media has announced the list of CRE’s top producers of 2018. The full list is available here. 3. Denise Airheart, Maricopa’s economic development director…

Sales Transactions 1. Tides Equities recently purchased the Modern on the Rail, a 488-unit garden-style multifamily property at 1905 W. Las Palmaritas Drive, Phoenix, for $39.75M. Senior Managing Directors Mark Forrester and Ric Holway and Senior Director Dan Cheyne of Berkadia’s Phoenix office secured the sale on behalf of the seller, Modern Residential Company. 2. CVG Properties purchased Verde Dimora, a 153-unit multifamily asset at Power and McKellips roads in Mesa, for $27M. Cliff David and Steve Gebing, senior managing directors for Institutional Property Advisors (IPA), a division of Marcus & Millichap, represented the seller, Western Wealth Capital, and procured…