Author: BEX Staff

Awards & Accolades 1. Rusty Kennedy of CBRE Group Inc. has been selected to a national list of influential young executives. The 2019 Business Journals’ Influencers: Rising Stars spotlights 100 executives who are having an impact early in their careers on business being done in cities across the nation. Company News 2. Restoration Builders, Inc. announced that it has completed the asset purchase of Elbert Construction, LLC. Promotions 3. AZTEC Engineering Group, Inc. has promoted Javier Damia-Levy to senior vice president and he also joins the company’s Management Board. Javier has been with AZTEC for 10 years and will continue…

Sales Transactions 1. Urban Communities S29, LP, an entity formed by Urban Communities of Phoenix, purchased Standard on 29th Apartments, a 357-unit multifamily housing community located near 29th St. and Indian School in Phoenix, for $30.05M. The NorthMarq Phoenix investment sales team of Trevor Koskovich, Bill Hahn and Jesse Hudson represented both the seller, The Standard-Phoenix LLC, an entity formed by SPL Real Estate, and the buyer. 2. Westmount Realty Capital announced the acquisition of 949 at the District, a 154-unit multifamily community located at 949 S. Longmore St., Mesa for an undisclosed price. 3. Cushman & Wakefield announced that…

By Hayley Ringle for Phoenix Business Journal Axon Enterprise executives have to find a new place to build their planned headquarters after its plans fell through with the Salt River Pima-Maricopa Indian Community. On Oct. 10, Axon terminated the purchase and sale agreement of the land on which the facility would have been built on the NEC lot off Loop 101 at Talking Stick Way, according to an Oct. 15 U.S. Securities & Exchange Commission filing. “We terminated the agreement because we were unable to secure design approval by the Salt River Pima-Maricopa Indian Community,” the filing said. Its new…

Alexandra Loye and Julie Johnson of Colliers International in Arizona have been enlisted to handle leasing for the Desert Medical Plaza, a four-building, 289.1KSF medical office project located on the Banner Desert Medical Center campus on Dobson Road and the US-60 in Mesa owned by Lillibridge Healthcare Services. Currently offering attractive leasing packages for new tenants and renewals, the buildings, which are located at 1432, 1450, 1500 and 1520 S. Dobson Rd. in Mesa, will undergo a multi-million-dollar modernization project in 2020 by Krause Interior Architecture, Inc. The extensive changes to bring all the buildings to a contemporary Class-A level…

Source: Build Your Future Arizona With a focus on empowering people to build their future, Build Your Future Arizona (BYF Arizona) was established through a private-sector, industry-driven campaign of the Greater Phoenix Chamber Foundation in partnership with the national Build Your Future (BYF) initiative. BYF Arizona showcases the incredible opportunities available for people to find fulfilling, high-paying careers in the construction professions — careers that can be started right out of high school, with minimum training, and allow for earning money while you learn. The campaign is led by a steering committee made up of representatives from the more than…

Source: Colliers International in Arizona The Greater Phoenix office market remained strong through third quarter 2019 and remains in the Top Five metro areas for job creation in the United States. Since July, more than 14,000 new jobs have been announced, which will fuel demand and development of more office space. Third quarter 2019 was the second strongest quarter for absorption since 2015. Nearly 1MSF of net absorption occurred during the third quarter, bringing the year-to-date total of net absorption to 1.9M. This marks the 30th consecutive quarter of positive net absorption. Colliers predicts this pace will result in approximately…

Awards & Accolades 1. Achen-Gardener Construction’s Commonwealth Canal Promenade has won the Grand Award and the Best Small Project Under $2.5M Award from ACEC Arizona. Groundbreakings 2. FWD Partners, LLC broke ground on a 52KSF medical office project called Auviana, located at 14753 W. Mountain View Blvd, Surprise. Dan Astle with Edifice is the architect and Regency Plastic Surgery is the developer. 3. The Town of Marana broke ground on the Honea Heights Neighborhood Park, 12500 N. White Ave. The $400K park, designed by McGann & Associates, includes a 2KSF area with a 40-by-50-foot shade structure, as well as 2,500…

By Tasha Anderson for AZBEX Mesa’s Elliot Road Technology Corridor may see a new data center campus on a 102-acre parcel at Elliot and Signal Butte Roads. Sacramento, California-based RagingWire Data Centers is planning a flagship Arizona campus consisting of seven two-story buildings ranging in size from 165KSF-229KSF. The total development area for the project, dubbed PH1, is expected to be approximately 1.5M GSF. According to the design narrative submitted to the City of Mesa, “Much consideration was taken to layout the buildings on the site to balance functional and aesthetic interests.” Buildings containing offices, loading dock and amenity areas…

By Corina Vanek for Phoenix Business Journal Since the 1970s, billboard easements on the NWC of Central Avenue and Thomas Road have limited development possibilities on the otherwise vacant land. But after reaching an agreement with Clear Channel Outdoor Holdings Inc., Phoenix-based developer Pederson Group Inc. is planning a mixed-use high-rise on the site. The agreement with Clear Channel will move the billboards to the parking structure. The developer is requesting up to 350 feet in height for the building, which is consistent with nearby developments, founder Jim Pederson said. That height could allow for between 15 and 18 stories.…

By Joe Ferguson for Arizona Daily Star The Tucson City Council approved a conceptual proposal to redevelop the downtown Ronstadt Transit Center, building a new hotel, apartments, commercial space while retaining the bus station. The $60M deal with local developer Peach Properties would reshape the downtown landscape with four new high rises built mainly along North Sixth Avenue north of East Congress Street. However, the multi-year construction schedule would require the temporary relocation of the transit center. At this point, most believe Peach Properties will break ground sometime in 2021 if the federal government signs off on the project. The…