Author: BEX Staff

Sales Transactions 1. Park Hotels & Resorts Inc. has closed on the sale of the 563-room Pointe Hilton Squaw Peak Resort located in Phoenix for $51.4M. 2. Northland Investment Corporation acquired Canyons at Linda Vista Trail, a 228-unit luxury apartment community at 9750 N Oracle Rd., Oro Valley, for $41.25M. Art and Clint Wadlund of Berkadia in Tucson handled the transaction for the seller, Boulder Oro Valley. 3. CBRE has brokered the sale of The Wexler, a 219-unit multifamily community at 3030 N. 7th St., Phoenix, for $26.5M. Brian Smuckler, Jeff Seaman and Bryson Fricke represented the seller, 3030 N. 7th Street, LP, an affiliate of Pennybacker Capital, and…

By Tasha Anderson for Arizona Builder’s Exchange BEX Events kicked off the first Leading Markert Series of the New Year with a bang by discussing the Higher Education market. More than 100 attendees gathered at ASU Skysong 3 on Wednesday, February 6, for the sold-out event to gain insight into any upcoming projects as well as how to do business with Higher Education owners. AZBEX Founder and President, Rebekah Morris began the presentation by giving the attendees a brief overview of the market, including top players, with analytics taken from the AZBEX Database. “In our Database… we have this totaling…

Source: Cuningham Group Architecture, Inc. Cuningham Group Architecture has released updated design renderings of Millennium Park Central, a nine-story, market-rate apartment community in the highly anticipated Park Central redevelopment in midtown Phoenix. Developed by The Dinerstein Companies, the project will seek LEED Silver certification. The development, which is scheduled to open in late summer of 2021, is designed to reflect Park Central’s rich mid-century modern history with progressive elements, including exposed woods, rustic metals, sustainable fiber cement panels and dark masonry accents. It will feature 278 living units, including studios, one and two-bedrooms. Amenities will include a pool, spa, fitness…

Awards & Accolades 1. Rosendin, one of the nation’s largest private electrical contractors and an employee-owned company, has recognized 13 apprentices who graduated from the Phoenix Electrical Joint Apprenticeship and Training Committee (JATC). Company News 2. Kinney Construction Services, Inc. (KCS) is celebrating 20 years of business this year, serving its valued clients in Northern Arizona and across the United States. 3. Avison Young has announced the acquisition of U.K.-based GVA, one of the U.K.’s leading and most diverse real estate advisory businesses. 4. Dekker/Perich/Sabatini (D/P/S) design firm has reached a milestone this year, celebrating 60 years of business. Partnering with Florence Crittenton,…

Groundbreakings 1. Bathrooms in one portion of Paiute Neighborhood Center have started construction in order to bring them up to ADA compliance. The project renovations will occur in building 2 of the neighborhood center, 6535 E. Osborn Rd. Doege Development, LLC is the general contractor. 2. An Arizona Department of Transportation project getting underway this weekend will widen and make other improvements along the Loop 101 Pima Freeway between Interstate 17 in north Phoenix and Pima Road in north Scottsdale. The $185M project is scheduled for completion by early 2021. Progress Reports 3. Optima Sonoran Village, a mixed-used residential community in…

By Tasha Anderson for Arizona Builder’s Exchange Worksbureau, Inc., on behalf of Cabana Hayden, LLC, submitted a proposal to the City of Scottsdale for approval of a new 89-unit residential development on Hayden Road between E. Oak Street and E. Monte Vista Road. The request is for Development Review Board approval of a site plan, landscape plan and building elevations for approximately 54.4KSF of building area within two multi-story buildings on a 4.43-acre site at 2240 N. Hayden Road. The project, named Cabana on Hayden, will be a mix of two- to three-story buildings in order to house 36 studios,…

By Lauren Castle and Lindsey Collom for The Arizona Republic One of the most notorious corners in Mesa should look different by March 2021. What are now fenced-off largely vacant lots on the northwest corner of Main Street and Country Club Drive are envisioned as a five-story, nearly 200-unit apartment complex with bottom-floor retail space. The city recently sold 1.3 acres, which surrounds the empty Bailey’s Brake Services building, to Chicanos Por La Causa, which is developing the land through a for-profit subsidiary. Construction is expected to begin by August. “We’re very excited,” Mesa Mayor John Giles said Wednesday. “This is going to be…

Sales Transactions 1. Kasten Long Commercial Group has facilitated the sale of Green Leaf on Bell, a 306-unit community at 1100 E Bell Rd, Phoenix. Green Leaf Partners purchased the asset from Evergreen Development for $61.7M. Linda Fritz-Salazar, associate broker, and Scott Trevey, senior associate, were part of the brokerage team that handled the deal. 2. JLL’s Capital Markets experts have completed the $31.8M sale of Sanctuary on 22nd, a 266-unit apartment community at 8530 N. 22nd Ave., in the heart of Phoenix. Managing Directors John Cunningham and Charles Steele led the Multifamily Capital Markets team handling the sale on behalf of the seller,…

By AZBEX Staff for Arizona Builder’s Exchange Northern Arizona Healthcare approved a $300M investment over three years, to expand their facilities and programs as part of their New Era Strategic Plan to better serve the Northern Arizona community. The plan, named NAH+ and described as a way to “to support a seamless continuum of care focused on health and wellness,” was approved by the NAH Board back in September 2018. The first community meeting presentation for the plan was held on January 14th. According to a press release issued by Northern Arizona Healthcare on November 19th, 2018, “Major initiatives are…

By Catherine Reagor for The Arizona Republic Development on a big chunk of northeast Phoenix’s popular Desert Ridge community is no longer on hold. That means more money could start flowing to Arizona schools. After years of contentious legal battles and bankruptcy filings, California-based Crown Realty & Development emerged as the winning bidder on the 96.5-acre parcel in Desert Ridge’s core called City North on Monday. Crown is paying $54M for the land that has been valued at more than $120M, according to court documents. Crown, which developed the Montelucia resort in Paradise Valley, also won the role to be…