Author: BEX Staff

By Sammy Williams for AZBEX Developer, The Dinerstein Companies of Houston is doubling down on their investment in student housing near the University of Arizona by proposing a new, 130-unit high-rise just two blocks from campus. The eight-story building, dubbed Aspire Tucson Phase II, is directly west of Aspire Tucson, a 12-story community set to open in August 2019. The mixed-use student housing development is located in the heart of the Main Gate entertainment district and will replace the current Chase Bank site at the SWC of Park Avenue and First Street. The property is zoned C-1 and thus the…

Giving Back 1. McCarthy Building Companies, Inc. is tapping the talent in universities throughout the U.S. in its 3-year-old Intern Advantage Program. McCarthy managers said the program improves the image of construction work as a good career move and also lets the company get a look at possible future employees. Awards & Accolades 2. Horatio Alger Association of Distinguished Americans, Inc. a nonprofit educational organization honoring the achievements of outstanding individuals and encouraging youth to pursue their dreams through higher education, today announced that K. Michael Ingram, founder, chairman and chief executive officer, El Dorado Holdings, Inc., has been selected for membership in…

Groundbreakings 1. Sundt Construction, Inc. recently started construction on the University of Arizona Student Success District in Tucson. The project will transform the Main Library, the Science-Engineering Library, and Bear Down Gym, while adding a new four-story student success building into an interconnected district, which will provide indoor and outdoor spaces. The project is being delivered via design-build delivery method with Sundt’s design partners of Miller Hull and Poster Frost Mirto. The multi-facility project is expected to be fully completed and open to students by 2021. 2. Irgens Phoenix has announced the groundbreaking of its newest development, 17 Three Hundred at…

By Tasha Anderson for AZBEX Pew & Lake, PLC, on behalf of developer Bela Flor Communities, LLC, submitted a General Plan Amendment and Rezoning request to the City of Peoria for a new 16-buildng condominium development on 12.79 acres. The property is located at the SWC of 95th and Olive avenues and is bound by a QuikTrip and a proposed Francis & Sons Car Wash to the north, single-family residential to the east and south and an RV and Mini Storage facility to the west. The applicant requested an amendment of approximately 12.79 acres from Low Density Residential to Medium-High…

By Hayley Ringle for Phoenix Business Journal Nikola Motor Co. is another step closer to building its 1MSF electric, semi-truck plant in Coolidge. Nikola, the fledgling Phoenix-based autonomous hydrogen-electric semi-truck startup, paid $23,085,682 on March 4 for the 389-acre property at State Route 87 and Houser Road in Coolidge, according to Walter Unger, a senior associate broker with Phoenix-based Kasten Long Commercial Group. Nikola CEO Trevor Milton said the startup is excited to break ground in Coolidge for the new factory, which should happen sometime in 2020. The facility is expected to be operational by 2022. In January 2018, Nikola originally chose…

Sales Transactions 1. Camden Property Trust plunked down $97M for the 316-unit, low-rise property at 7350 E. Stetson Dr., Scottsdale. The community was built in 2015 and was known until this month as The Stetson. Camden has renamed it Camden Old Town Scottsdale. CBRE’s investment sales team led by Asher Gunter represented the seller, Cottonwood Residential. 2. HSL Properties, through its affiliate HSL Bear Canyon Apartments, sold Bear Canyon Apartments at 9055 East Catalina Highway in Tucson for $35.6M to M3 Multifamily Fund. Art Wadlund and Clint Wadlund of Berkadia in Tucson represented the seller. 3. On behalf of Conor Commercial…

By Tasha Anderson for AZBEX Wood Partners is proposing to bring new life to an underutilized property near the NWC of Raintree Drive and Pima Road in Scottsdale, with plans for a new 330-unit residential development. A request was recently submitted to the City of Scottsdale for a minor General Plan Amendment from Airpark Mixed Use to Airpark Mixed Use-Residential on +/- 5.56 acres at 8688 E. Raintree Drive. A rezoning of +/-13.08 acres (which includes the 5.56 acres) from Central Business to Planned Airpark Core- Airpark Mixed Use Residential and Airpark Mixed Use with Planned Shared District Overlay was…

Source: City of Glendale Glendale City Council recently approved a development agreement supporting RRB Beverage Operations Inc. for a new, multimillion-dollar facility at the SEC of Reems Road and Peoria Avenue in the Woolf Logistics Industrial Campus. The first phase of this flagship development will bring an approximately 700KSF building and over 140 new jobs to Glendale. “It’s quite a testament to what Arizona has to offer when three major brand names — Ball, Rauch and Red Bull — choose our state for a project of this size,” said Arizona Governor Doug Ducey. “We could not be more pleased that…

Awards & Accolades 1. Brandon Rodgers, SIOR, CCIM of Cushman & Wakefield | PICOR, has achieved the SIOR industrial designation awarded by the Society of Industrial and Office REALTORS®. 2. Colliers International in Arizona has announced its 2018 Top Producers. The field of men and women represent a wide variety of real estate categories. They are: Todd Noel, CCIM, senior executive vice president in Office Properties Cindy Cooke, senior executive vice president in Multifamily Properties Ryan Timpani, executive vice president in Office Properties James Meng, senior vice president in Hospitality Properties Mindy Korth, executive vice president in Investment Properties Philip Wurth, CCIM,…

Groundbreakings 1. LGE Design Build, in partnership with Clarius Partners LLC, have broken ground on the 791KSF The HUB at Goodyear, 305 S. Bullard Ave. The HUB at Goodyear is being developed on a fully speculative basis. The development team has named JLL as the project’s exclusive leasing broker. 2. The Pine-Strawberry Fire District recently celebrated breaking ground on new crew quarters at the Strawberry Fire Station on March 4. Construction of the 1,335-square-foot crew quarters should be done by the end of June. The general contractor is Barry Hoff Contracting. 3. Live Forward Ventures and Brokers Hub Realty announced the development…