Author: BEX Staff

Groundbreakings 1. Creighton University will hold a groundbreaking ceremony at their new $100M building within the redevelopment at Park Central, located at 3100 N. Central Avenue., on September 25th. Construction of the building started in July 2019. 2. Marwest Enterprises has commenced construction on the first phase of Landing 202. The first phase totals 605KSF of Class A, industrial space located in Mesa’s Gateway Area, just south of Loop 202 and west of Hawes Road with 565 parking spaces. CBRE is leasing the project on behalf of the developer. This phase is expected to be completed in Q2 2020. 3.…

By Rebekah Morris for AZ Builder’s Exchange, LLC Investment in the North Phoenix Biomedical Corridor continues from both private industry and public agencies. Significant employers expanding their physical presence in the Corridor include Mayo Clinic, American Express, and Nationwide Insurance slightly to the East. North of the L101 freeway is poised to see significant future development activity as the City North parcel master plan takes shape. “The Mayo Campus at Desert Ridge is a major piece of the $3.0B in new bioscience and healthcare facilities under construction or in the pipeline for the next 18-months. Phoenix is looking at 4.4MSF…

Source: NexCore NexCore Group has been chosen to develop Banner Health’s newest multispecialty health center. The three-story, 130KSF Banner Health Center will be located in the Aspera mixed-use development near the Agua Fria Loop 101 Freeway and 75th Avenue, in Glendale.  The Class A facility will be developed on a portion of 17.5 acres owned by Banner Health in the Aspera development. The Banner Health Center will offer comprehensive clinical services, including family medicine, pediatrics, orthopedics, general surgery, dermatology, gastroenterology, cardiology, endocrinology, internal medicine and OB/GYN, as well as lab, pharmacy and imaging services. The facility is anticipated to break ground…

By Joe Ferguson for Arizona Daily Star The Tucson City Council signaled Tuesday night that they would sign off on millions of dollars in incentives to remodel long-closed Hotel Arizona in downtown Tucson. The HSL Properties-owned hotel, at the corner of West Congress Street at South Granada Avenue, has been closed since 2012. Under the plan it would receive a $45M facelift with plans to re-open it as a 296-room Hyatt Regency-branded luxury hotel in early 2021. For its part, the city would give the developers up to $1.85M through a set of tax breaks over eight years. The Rio…

Giving Back 1. Cookie Drive Collects 11,831 Cookies for Phoenix Children’s Hospital Kids – LSW Engineers Arizona, Inc. partnered with architectural firms Arrington Watkins, DWL, and triARC during a month-long cookie drive to collect 11,831 cookies for young patients at the Phoenix Children’s Hospital. LSW hosted a packing party on August 23rd to wrap two cookies in Ziploc bags to hand out to the young patients at PCH. LSW Engineers, AWA, DWL and triArc believe that kids deserve a special treat and donated many bags of sweet treats to PCH kids. Boards & Appointments 2. Karen Gaylord, the lead partner with…

Sales Transactions 1. The JW Marriott Desert Ridge has sold a record of $602M. Trinity Real Estate Investments and Elliott Management Corp purchased the North Phoenix property and plan a multi-million dollar renovation to guest spaces including rooms, meeting spaces and restaurants. The Blackstone Group out of New York sold the property. 2. Coastal Ridge Real Estate, along with iStar Financial, have purchased and leased back the Sterling 920 Terrace in Tempe for $115M. Built by the Dinerstein Companies in 2018, the 775-room student housing complex is situated near ASU on S. Terrace Drive. 3. The McDowell Mountain Business Park…

By Tasha Anderson for AZBEX A new multifamily residential development is being proposed for the SWC of 19th Avenue and Alameda Road in North Phoenix. The Related Group, the owner of the unnamed 461KSF apartment complex project, is requesting to rezone the approximately 20.06 acres from Light Industrial to Multifamily Residence. The Related Group wants to build a 396-unit apartment community comprised of a mix of 22 studio, 158 one-bedroom, 172 two-bedroom and 44 three-bedroom dwelling units. The development will be split into 20 separate two- to three-story buildings. According to the city’s staff report, “Staff is recommending that the…

By Nick Serpa for Chamber Business News As more and more companies continue to expand their operations in Tempe  – such as State Farm, which recently announced its intention to hire an additional 1,100 employees at its offices near Tempe Town Lake – City of Tempe officials have reason to believe that Tempe’s growth spurt isn’t about to end anytime soon. According to Ambika Adhikari, a Principal Planner at the City of Tempe’s Community Development Department, the city’s annual population growth averages between 1.5 and 2 percent, or roughly 3,000 new residents per year. If that trend continues, with a…

By Richard H. Dyer for Apache Junction Independent Voters in a November 5th election will consider authorizing Apache Junction Unified School District to issue and sell $60M in school-improvement bonds and exceed its budget by the lesser of $2M or 10 percent of its revenue control limit. The district’s first override passed in 1999 and was renewed in 2003. Further votes failed in May 2007 and November 2007, 2009, 2010, 2014 and 2015. At the last election, voters denied the proposed increase of up to 15 percent to the district’s maintenance and operations budget. The override would have raised approximately…

Groundbreakings 1. ViaWest Group has kicked off major renovations at 200 EVB, an office building purchased late last year located at 200 E. Van Buren, Phoenix. The building’s Third Street parking garage is also undergoing an LED retrofit and the addition of an improved parking system. 2. The University of Arizona (UA) broke ground on a new incubator focused on bioscience startups on September 4th. The incubator, UA Center for Innovation at Oro Valley, located at the UA Tech Park at Rita Road, will provide space and business incubation programs for nascent life science businesses to develop their technology and…