Author: BEX Staff

By Raquel Hendrickson for inMaricopa Estrella Gin Business Park effectively was sold by the City to two companies for development. Tuesday, Maricopa City Council approved the purchase agreement of 12.32 acres to J.E.T. Real Estate Holdings and 16.96 acres to Elpida LLC. The total purchase price between the two is $1.9M. The city is working with two different parties, but Woodglen Opportunities is the master developer working with Construction Solutions Company as the builder and contractor, City Manager Ricky Horst said. The Elpida LLC portion of the development is controlled by developer Joe L. Cook. Realtor Shane Cook of MHG…

Source: Arizona State University Associate Professor Jim Ernzen found his professional passion more than 23 years ago when he began teaching construction management at Arizona State University. What he realized even then is how much learning students need beyond classroom instruction to get a complete education and a solid jump-start on their careers. Especially vital to students’ success, Ernzen says, are mentorships, internships to get firsthand job experience, research training and connections to leaders in the industry. Personal commitment and financial backing by benefactors outside the university are critical to providing students those opportunities. But attracting such support requires focused…

Awards & Accolades 1. NEZ/FCI was one of eight firms/individuals honored at the Minority Enterprise Awards Ceremony on September 9th. Marvin Nez was in attendance to accept the National “Minority Construction Firm of the Year” award from the U.S Department of Commerce, Minority Business Development Agency. Boards & Commissions 2. Erin Raden has joined the Arizona Masonry Council (AMC) as the organization’s new executive director where she will lead and manage AMC’s Education and Promotion, Workforce Development, Building Code Advocacy and Government Relations efforts. Also joining AMC as Program Director is Cassie Mejia. She will be overseeing AMC’s workforce development…

Sales Transactions 1. Griffin Capital Essential Asset REIT has acquired McKesson III, a Class A office building at 5801 N. Pima Road, Scottsdale. Ryan Cos. sold the asset for $37.7M. Team Toci of Cushman & Wakefield represented Ryan Cos. 2. Sundance Bay, LLC purchased Solano Vista, a 352-unit apartment community at 7102 N. 43rd Avenue, Glendale, for $30.75M. Brian Smuckler, Jeff Seaman, Derek Smigiel and Bryson Fricke of CBRE in Phoenix represented the seller, 3rd Ave Investments, and the buyer. 3. Festival Ranch North LLC, an entity comprised of LKY Development, RC Spurlock LP and Mt. Shaw Holdings LLC, has…

By Rebekah Morris for AZBEX Agencies throughout the state have released their final Capital Improvement Plans (CIPs) and the trends are clear: municipalities are enjoying high levels of tax revenue due to an expanding economy, low unemployment and high property values. What’s interesting is the shifting priorities of capital projects and the growing reluctance to rely on debt to pay for one-time capital expenses. Additionally, cities are using the CIP document as an Economic Development tool; the visual appeal of many is noticeably improving, and several are touting the CIP document itself as a way to communicate with businesses considering…

By Tasha Anderson for AZBEX Tempe City Council held the first public hearing on September 26th for a new hotel planned for the SWC of Rio Salado Parkway and Smith Road. The hotel, dubbed Tempe Station Even Hotel, will carry the Even Hotels brand and is planned as a four-story, 150-room development consisting of a total of 78.2KSF. It is the largest portion of the six-lot Tempe Market Station mixed-use development and will be located on Lot 2. The site plan submitted to the city by Berry Riddell, LLC, on behalf of SJJ Development, also shows a request for approval…

Source: RED Development RED Development is now underway with plans to develop a $300M mixed-use destination on the NWC of 44th Street and Camelback Road, one of the most high-profile intersections in the Valley. The project will include a private NBA/WNBA training facility, boutique hotel, Class AA office buildings, self-storage facility and high-end shopping and dining. The Phoenix Suns and Phoenix Mercury have begun construction on a 50KSF state-of-the-art private practice facility. Designed as the teams’ training sanctuary, the facility will feature the latest innovations in sports science designed to elevate sustainable high performance as well as a wide array…

By Wayne Schutsky for Scottsdale Progress The developer behind Museum Square continues to work with local gallery owners to address concerns over the project’s impact on parking downtown. Developer ARC Scottsdale Holdings and the City of Scottsdale recently agreed in principle to have the city pay for an extra level of underground public parking with 151-168 spots in the garage planned beneath the hotel at Museum Square. That deal initially appeased gallery owners, but they became concerned when they learned the length of time the developer has to build the hotel and parking, gallery owner Bob Pejman said. Under the…

By Christopher Boan for Tucson Local Media Members of the Tucson business community celebrated recent corporate recruiting wins and called for a major upgrade of Tucson International Airport at Sun Corridor’s annual luncheon. The September 12th luncheon honored the Southern Arizona-based business incubator’s efforts to drive economic development. Sun Corridor CEO Joe Snell threw out the day’s biggest news at the tail end of the festivities, unveiling the Corridor’s Tucson International Airport 2019 Blueprint. The blueprint includes establishing a new passenger terminal, building a limited access expressway that will link the location, which is on 600 acres of unused land…

Awards & Accolades 1. The City of Buckeye was recently honored for its forward thinking to meet future challenges with the development of its Imagine Buckeye 2040 General Plan. Through an extensive, citizen-driven effort spanning several years, the city adopted Imagine Buckeye 2040 as a blueprint for creating America’s next great city. Groundbreakings 2. The Phoenix Suns and Phoenix Mercury have begun construction on a 50KSF state-of-the-art private practice facility. Dick & Fritsche Design Group is the architect and AECOM Hunt is the general contractor. 3. Liberty Property Trust has broken ground simultaneously on two buildings at Liberty Riverside Center.…