Author: BEX Staff

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…

By Tasha Anderson for AZBEX The City of Mesa wishes to transform 27 acres of city-owned land at the SWC of University and Mesa drives into a “vibrant and cohesive urban mixed-use project” and is requesting a partner to help with that vision. On May 6, the City of Mesa issued a Request for Qualifications for a developer to help redevelop the currently vacant Opportunity Zone site, also known as Transform 17. The conceptual masterplan for Transform 17, as recommended by Mesa City Council on March 21, shows “a significant amount of residential; dining and retail including a grocery store;…

Source: Cushman & Wakefield Eisenberg Company, a Phoenix-based development company, announced two new industrial projects delivering in the fourth quarter of 2019. The projects, Avondale 107th and Washington 83, are slated to start construction this quarter and will total a combined 533.5KSF. “We are excited to bring two first class projects online to meet the core needs of the industrial market,” said Jason Eisenberg, President of Development at Eisenberg Company. On behalf of Eisenberg Company, Andy Markham, Mike Haenel and Phil Haenel of Cushman & Wakefield negotiated the purchase of the land for the two developments in two separate transactions…

Groundbreakings 1. Hines Interests has begun construction on a 640-unit, 65.3KSF (NRA) self-storage facility at Priest Dr. and Warner Rd in Tempe. A second, 673-unit, 76KSF (NRA) facility set to be located at Dysart and Camelback Roads in Litchfield Park is expected to begin in June and be completed by the end of 2019. CubeSmart will manage both sites. 2. Two Goodyear hotels, Tru by Hilton and Springhill Suites by Marriott, recently broke ground and are expected to open in Spring 2020. The hotels, both located off of the I-10 and Bullard Ave, will have a combined 178 rooms. 3.…