Author: BEX Staff

Groundbreakings 1. Okland Capital and San Tan Development Group announced they have broken ground in phase one of Northside at SanTan Village. Phase one totals 37.2KSF across six different buildings. Okland Construction is the general contractor with Aline Architecture Concepts as the design firm. 2. Peg recently announced construction has begun on AC Hotel by Marriott Scottsdale. The hotel will include 168 rooms with 4KSF of retail space on the ground floor. The adjacent Kimsey building will be preserved to serve as a leasing lobby, fitness room and housing residential units. The hotel and the Kimsey building will share an…

Evergreen Devco is nearly ready to begin work on converting an obsolete office site at the SEC of 48th Street and Alameda Drive in Tempe into a new two-building multi-tenant industrial campus. The Tempe Development Review Commission approved the plan review in February, and Evergreen purchased the site for slightly more than $13M in July. The demolition process for the existing 157KSF building is underway. Once the site is prepared, Evergreen plans to build two speculative industrial buildings totaling more than 171KSF, along with 65.6KSF of outdoor storage space. Evergreen officials say 48th @ Alameda will be targeted toward small-to-medium…

By BEX Staff for AZBEX The Pinal County Board of Supervisors heard, but took no action on, a request from Judd Ventures LLC to reclassify 96.8 vacant acres at the SEC of Judd and Felix roads north of Florence to allow for employment and supporting mixed-use development. The owner is requesting a major comprehensive plan amendment from moderate low-density residential to 80 acres of employment and 16 acres of mixed-use residential focus. According to the submitted project description for Sunhill, “The development intent of the proposal is to allow for the majority of the property (~80 acres) to be developed…

By Roland Murphy for AZBEX The Tempe Development Review Commission is scheduled to take up a series of requests from developer Greenlight Communities that would allow for the development of 229 workforce/attainable apartments on 7.69 acres near the SWC of Guadalupe and Kyrene roads. In supporting materials for the Cabana Kyrene requests, Greenlight says the site has been unimproved for “several decades” and “will add needed attainable housing options in south Tempe.” According to the submitted project narrative, “The intent of the Project is to diversify the mix of uses along the Guadalupe Road and Kyrene Road corridors by providing…

By BEX Staff for AZBEX Simon Med (as 101 W. Healthcare Subsidiary LLC) has proposed a mixed-use development with 239 apartments and 13KSF of commercial on 19 acres near the NWC of 99th and Glendale avenues. The developer has requested a minor general plan amendment to entertainment mixed-use and a rezoning to planned area development. The location is currently designated as a planned commercial, business park and entertainment mixed-use. According to the submitted project narrative, “Simon Med anticipates the development will be constructed in multiple phases. The multifamily residential component will be developed in two phases and the commercial development…

The Yavapai County Board of Supervisors met last week to review a recently submitted report from Gensler examining the County’s space needs and to discuss a cost comparison report on a County building. The session was planned to let members review the report with representatives from Gensler, hear recommendations from the Space Planning Steering Committee and examine costs and benefits for County districts. The Board began discussions with the Facilities Department about space needs in the summer of 2022 and entered into a $481.7K contract with Gensler last year to create a facilities master plan for the County’s real estate…

Giving Back 1. Brycon employees partnered with Sleep in Heavenly Peace to help fabricate bed pieces that would later be used to assemble more than 70 beds. SHP is a non-profit organization dedicated to providing beds for children in need within our community. 2. Arizona Builders Alliance raised more than $45K for this year’s ABA Backpack Drive to provide school supplies to children in the community. More than 1,000 children were helped. Company News 3. MODE Commercial Property Management announced a leadership transition. Patty Hartley, president and designated broker, is stepping back from day-to-day operations. David Verwer will assume Hartley’s…

Sale Transactions 1. The Carlyle Group Inc. sold the 217-unit Sanctuary on 51st Build-to-Rent community in Laveen for $61.4M. The buyer was Brunton Management. The seller was represented by Berkadia Phoenix’s Mark Forrester, Ric Holway, Dan Cheyne, Spencer Scott and Andrew Curtis. 2. IRA Capital Partners has paid $46.6M for Belmont Village Scottsdale, a 138-unit, 95.3KSF senior care facility on North Frank Lloyd Wright Blvd. in Scottsdale. 3. Sorrento Seven purchased a fully occupied 34.1KSF industrial building at 2228 W. Guadalupe Roadin Gilbert for $10.9M. The facility is occupied by Moog Aerospace and Defense Company. The property was purchased from…

By Roland Murphy for AZBEX A medical office building proposal recently recommended for rezoning approval in San Luis could, over time, evolve into a micro hospital campus. Materials provided to the San Luis Planning and Zoning Commission by applicant civil engineering firm Dahl, Robins & Associates, Inc. give a general overview of Yuma Regional Medical Center’s initial and long-term intent for the 37.14-acre site at the NWC of Los Oros Street and Main Street/Highway 95. In response to a resident question presented to the Commission in the August 13 hearing on the request, Alex Laky of design firm ARCHSOL explained…

By NAI Horizon The Valley’s robust semiconductor industry has attracted a global leader in precision cleaning and advanced coatings: KoMiCo, which purchased a 125KSF manufacturing facility in Mesa. NAI Horizon’s Rick Foss, Isy Sonabend and Drew Eisen represented KoMiCo Phoenix, LLC in the $17.5M acquisition of 7300 E. Hampton Ave. in Mesa. KoMiCo—which has sites in South Korea, Singapore, China, Taiwan and the U.S. —will develop a state-of-the-art facility for advanced semiconductor equipment parts cleaning, coating, and repair in the Superstition Springs area of the Southeast Valley. According to KoMiCo, the facility is expected to be operational by 2026, creating…