Author: BEX Staff

Giving Back 1. Rosendin recognized all the students who took part in the 9th annual Racing the Sun program and competition. Rosendin has been a program sponsor since 2016, mentoring students and teaching them how to construct a solar powered go kart over the course of a school year. Racing the Sun is a science, technology, engineering, and mathematics (STEM) program that started in 2011 to teach students to solve problems using solar energy in a real-world experience. Awards & Accolades 2. Norris Design announced landscape designer Amy Webb has been named the 2019 Volunteer of the Year for the…

Sales Transactions 1. Investcorp has acquired an eight-building industrial portfolio spread across the U.S. for $170M. The properties house a total of 1.4MSF of space and are currently 100 percent leased. The firm did not disclose a seller in the deal. The properties are single-tenant distribution buildings located in eight major U.S. markets—Chicago, Phoenix, St. Louis, Charlotte, Cincinnati, Cleveland and San Antonio. 2. Mainstreet recently sold off the partially completed Rapid Recovery Center at 5151 East Pima St in Tucson for $14.04M to an affiliate of the Aspen Group. 3. A joint venture between Pisula Development Company and Harrison Street…

By Sammy Williams for AZBEX Old Dominion Freight Line, Inc. of Thomasville, NC announced plans to develop a 19-acre site located on the SEC of Crismon Road and Pecos Road in Mesa. The proposed project consists of a 5,450 square foot office building and 47KSF of warehouse space, which will serve as a cross dock service center facility. In a cross dock facility, transported goods are unloaded from a tractor trailer within the interior dock area for the short term and then subsequently loaded onto another trailer bound for another destination in the Phoenix area or to the broader national…

Groundbreakings 1. On behalf of SunCap Property Group, Graycor Construction Company has started construction on a new, 135.7KSF flex industrial building at the Gilbert Spectrum industrial project. The building kicks off development in the southern portion of the 63-acre project, which is situated at the SWC of Elliot and McQueen roads in Gilbert. Building One is scheduled to complete in late July. At build-out, Gilbert Spectrum will include more than 800KSF in eight to ten buildings ranging from 60KSF-200KSF. 2. The City of Peoria broke ground Tuesday on the 120-acre Paloma Park at Lake Pleasant Pkwy and the Loop 303.…

By Tasha Anderson for AZBEX Desert Ridge is quickly becoming a key development area with plans for continued growth over the next few years. A panel moderated by Christine Mackay, Community and Economic Development Director for City of Phoenix, and consisting of Rick Carpinelli, vice president of Acquisition Development for Crown Realty & Development; Rick Hearn, vice president of Leasing for Vestar; Rick Naimark, vice president of Program Development Planning for Arizona State University; and David Schwartz, Business Development and Site Planning Administrator for Mayo Clinic of Arizona, took the stage at Friday morning’s Valley Partnership meeting to discuss current…

By Paulina Pineda for The Arizona Republic One of the last vacant, city-owned properties in downtown Chandler will be transformed into the city’s newest entertainment destination. On Thursday, the Chandler City Council unanimously approved a development agreement with LGE Design Build for a 37.5KSF mixed-use development on the NEC of Buffalo Street and Arizona Avenue. The Phoenix-based firm is proposing to build retail, restaurant and entertainment space at the site in the next five years. The lot, known as Site 7, once housed a gas station and tire shop and is now used for parking. LGE will rent the land…

Giving Back 1. Team Achen-Gardner won first place in the 2019 Engineers Without Borders Softball Tournament. The tournament raised more than $5.3K for Engineers Without Borders. These funds will go towards supporting the mission of the organization, which is to build a better world through engineering projects that empower communities to meet their basic human needs and equip leaders to solve the world’s most pressing challenges. Awards & Accolades 2. Magnum Companies, a Phoenix-based designer, fabricator, and installer of metal components celebrating its 40th anniversary, won three Silver Awards at the 2019 Ernest Wiemann Top Job Competition for outstanding craftsmanship.…

Sales Transactions 1. BH Properties bought the Honeywell International research and development property at 19019 N 59th Ave, Glendale, for $26.5M from Lexington Realty Trust. Mindy Korth and Kirk Kuller of Colliers International brokered the sale. 2. Marcus & Millichap’s Douglas R. Fielding represented the seller in the $12M sale of The Pavilions at San Tan Heights, a 33.3KSF retail property at 1749 W. Hunt Highway in San Tan Valley. 3. Danny Gardiner and Chad Tiedeman at Phoenix Commercial Advisors represented the seller, TriGate Capital, in the $11M sale of Gilbert Crossing, a three-building 62.5KSF Crunch Fitness anchored center at…

By Tasha Anderson for AZBEX Abbington Senior Living Corp. is planning to bring an 85-unit assisted living facility to the SEC of Mercy and Pecos Roads in Gilbert. A Conditional Use Permit for approximately 3.18 acres to allow a congregate living facility and a Site Plan for the facility was heard and recommended for approval at the Town of Gilbert’s April 3rd Planning Commission Meeting. The project, called The Abbington at Gilbert, is planned as the development of a 78.7KSF, two-story building consisting of 85 assisted living units ranging from studio, one- and two-bedroom and memory care units. 43 parking…

Awards & Accolades 1. The AZ Water Association unanimously selected Brad Sanders of Archer Western as this year’s Construction Professional of the Year. The award recognizes Sanders’ significant contributions to the water/wastewater industry, the AZ Water Association, Water Environment Federation (WEF) and the American Water Works Association (AWWA). 2. NAI Horizon’s success in 2018 was highlighted by national recognition, continued growth and a record $357M in total transactions. Their top producers in 2018 were: Denise Nunez, Investment Sales (self-storage); Mark Wilcke, Industrial; Chris Gerow, Retail; Shelby Tworek, Retail; Tyler Smith, Office; Laurel Lewis, Office; Lane Neville, Investment Sales; Barbara Lloyd,…