Author: BEX Staff

By Adrienne St. Clair for Arizona Builder’s Exchange Orsett Properties, LTD has submitted a rezoning request and project proposal to the City of Mesa to build two industrial office buildings in the Ray Road Commerce Center North near PHX-Mesa Gateway Airport. (AZBEX, March 6) Each of the two office buildings is planned to be 32.7KSF. Each building will have its own yard behind it, complete with truck wells. Both will be set up to accommodate both warehouse and office use. One of the buildings will be used for Identico Print Services, a toner manufacturing company originally based out of Chandler.…

Sales Transactions 1. MG Properties Group has paid $74M for the 396-unit Country Brook Apartments in Chandler. The apartments were sold by a private individual represented by Cindy Cooke and Brad Cooke of Colliers International. 2. Microsoft Corp. has bought 272 acres of land in Goodyear for nearly $48M. Carefree Partners Investments sold the land. Marc Hertzberg and Anthony Lydon of JLL were consultants to Carefree Partners Investments in the sale. Plans for the site are unknown. 3. Newmark has secured nearly $20M in financing for six separate multifamily properties, five in Phoenix and one in Bullhead City. Adam Parker and Chad Metzger of Newmark’s Phoenix office…

Project Could Accelerate Development from SR 51 to Scottsdale Road By Roland Murphy for Arizona Builder’s Exchange A long-standing vision to create a biomedical corridor south of Loop 101 in north Phoenix and to hasten general development in the area got a major boost this week when Mayo Clinic announced a $648M, 1.4MSF expansion that will nearly double the size of its Phoenix campus over the course of the next five years. The plan, known as “The Arizona Forward Project” will expand “clinical capacity, support services and infrastructure at the campus located near Loop 101 and 56th Street in North Phoenix,”…

By Adrienne St. Clair for Arizona Builder’s Exchange Aspire Development, LLC has submitted a proposal to the City of Mesa to build two-story multifamily condominiums on 3.3 acres at the SWC of Sossaman Road and Billings Street. The new community will be built in phases, eventually totaling 49 units. It will include amenities like a swimming pool, cabana area, multiple BBQs and open grass area for play space. The proposal boasts the finished development will be 35 percent open space – approximately 50KSF. The townhomes will feature a contemporary design and be made up of a variety of materials and…

Giving Back 1. The Sundt Foundation has donated more than $163K in grant awards to nearly 60 Phoenix-area charities in the last six months. The Foundation awarded $63K in grants to 24 nonprofits and $100K in grants to 33 organizations during its second-quarter and third-quarter disbursements. In the Tucson area, the foundation donated $36K in grant awards to 21 charities during the last six months. It awarded $15K in grants to nine nonprofits and $21K in grants to 12 organizations during its second-quarter and third-quarter disbursements. 2. Hunter Contracting Co.’s 28th annual charity golf tournament event to benefit the Boys & Girls…

Awards & Accolades 1. American Council of Engineering Companies of Arizona has announced Ninyo & Moore Geotechnical and Environmental Sciences’ White Tanks Flood Retarding Structure No. 4 Rehabilitation project in Buckeye as a 2018 Engineering Excellence Honor Award winner. Groundbreakings 2. Ground was broken recently by Path Construction Southwest for the new 9.3KSF San Tan Justice of the Peace Court on Hunt Highway in Queen Creek. The new court building was designed by Arrington Watkins Architects of Phoenix and is owned by Pinal County. 3. Construction has begun in earnest on the $7M Camp Verde Sports Complex on the 110-acre parcel of…

By Adrienne St. Clair for Arizona Builder’s Exchange Precision Fleet Services has a proposal before the City of Tempe to build a new office and car dealership at the intersection of 3rd Street and Smith Road. The Tempe-based auto sales company hopes to build their new corporate office on 3.69 acres in the heart of one of Tempe’s main industrial areas. The site is currently undeveloped and is being used to store cars. The project, which consists of both a two-story office building and a three-story parking structure, will total 266KSF. The office building will be approximately 14KSF of the…

Sales Transactions 1. JLL Capital Markets has completed the $48.5M sale of the 684.4KSF Southwest Industrial Center, 7775 West Buckeye Road in Phoenix, on behalf of Hines. The buyer was CBRE Global Investors Acquisitions, LLC. Bo Mills, Mark Detmer and Ryan Sitov of JLL’s Industrial Capital Markets platform, along with Marc Hertzberg and Anthony Lydon, represented the seller. 2. Millburn & Co. bought Hacienda del Rio and Colonia del Rio apartment complexes, at 4545 and 4601 N. Via Entrada, Tucson, for $43M. The buyer and the seller, MG Properties Group, were represented by Art Wadlund and Clint Wadlund, of Berkadia. 3. ABI Multifamily announced…

By Roland Murphy for Arizona Builder’s Exchange A new, 85KSF speculative industrial building will be going up at Falcon Field in Mesa. According to developer Majestic Realty Co.’s proposal narrative, “The project will be a state of the art, +/-85KSF industrial building located at the NWC of Higley and Ingram. The building will be multi-tenant which will give Majestic the flexibility to target users from various industries. Given the location, we believe this project will be leased to multiple high-tech, manufacturing users that will provide great jobs and wages to the City of Mesa.” The site is located south of…

As many of our readers have noticed, AZBEX staff has grown tremendously in the past few years. Nearly doubling since 2015, the talented team now sits at eight strong, plus our ever-fearless leader Rebekah. Recently we’ve made some organizational shifts to more align actual roles and responsibilities with titles. Promotions 1. Rebekah Morris— President: “After eight-and-a half-years, I get a promotion. Yippee!” she states. Always self-deprecating, Rebekah now takes on the more appropriate title of President and Founder. What started as a publication only has grown far beyond that, and this upgrade in title is long overdue. She will continue…