Author: BEX Staff

Awards & Accolades 1. AZ Big Media recently announced its top 10 master-planned communities as part of its 2026 edition of Ranking Arizona. Awardees include: Vistancia Development, Ironwood Crossing, Morrison Ranch, Las Sendas, Mountain Bridge, Estrella, Saguaro Bloom, Gladden Farms, Johnson Ranch and Power Ranch. Groundbreakings 2. Construction has begun on the $192M Loop 101-I-10 Interchange Improvement Project in Phoenix. The Arizona Department of Transportation project will add an elevated bridge providing new HOV lane connections between Loop 101 and Interstate 10, along with new ramps and traffic flow improvements. Additional work includes relocating the southbound Loop 101 exit at…

Sales Transactions 1. Fidelity Core Real Estate Operating Partnership’s FCREF Vineyard Towne I LLC and FCREF Vineyard Towne II LLC purchased Vineyard Towne Center at the NWC of Gantzel and Combs roads in Queen Creek for $69.6M. Vestar sold the Target-anchored shopping center and will continue to operate and manage the property. 2. Newmark announced it arranged the $37.5M sale of the former State Farm regional headquarters campus at the SWC of Priest and Alameda drives in Tempe. The 25-acre property comprises approximately 462KSF of office and includes two structured parking garages. Newmark’s Barry Gabel, Chris Marchildon, CJ Osbrink, Gary…

By Associated Builders and Contractors National nonresidential construction spending decreased 0.2% in March, according to an Associated Builders and Contractors analysis of data published by the U.S. Census Bureau. On a seasonally adjusted annualized basis, nonresidential spending totaled $1.244T. Spending was down on a monthly basis in nine of the 16 nonresidential subcategories. Both public and private nonresidential spending were down 0.2% in March. “Nonresidential construction spending contracted yet again in March,” said ABC Chief Economist Anirban Basu. “While a large portion of the ongoing decline is due to steadily falling manufacturing-related construction activity, weakness is becoming more widespread. Both…

By Roland Murphy for AZBEX A five-story, 148-room hotel could be the next addition to the Cannon Beach master plan under a set of requests set to go before the Mesa Design Review Board this week. Cannon Beach is a 60-acre surf park with a lagoon and supporting commercial and retail at the SEC of Power and Warner roads. While a Tapestry Collection by Hilton and an Aloft Hotel by Marriott are already part of the planned campus, a grand hotel immediately next to the lagoon area has been part of the plan since it was first proposed in 2020.…

The AES Clean Energy division of AES Corporation is proposing a 5,011-acre solar power and battery energy storage system development in the Rainbow Valley area of southern Goodyear. If built as proposed, the Desert Rainbow Solar Project would produce up to 550 megawatts of energy and store the same amount in BESS units. Estrella South LLC is the property owner. Desert Rainbow would be one of the state’s largest solar developments, by area, if completely developed as planned. The property is situated approximately two miles from the master-planned community Estrella. Power from the facility would feed into Salt River Project’s…

By Roland Murphy for AZBEX A 3.14-acre site on Scottsdale Road south of McKellips Road in Tempe that was originally developed as a multifamily/hotel site and then converted to hotel/small retail in the 1970s could be on its way to redevelopment as a new multifamily community under an adaptive reuse proposal before the Tempe Development Review Commission. In its May 12 meeting, DRC members will consider a request from owner HK 24th Street, LLC, which traces to the Pham Family Trust, to convert the site at Scottsdale Road and East Lilac Drive into a 142-unit multifamily community, retaining the footprints…

The City of Chandler’s proposed budget for Fiscal Year 2027 now totals nearly $1.87B and includes more than $474M in new capital projects. Department officials presented their FY 2027 budget requests to City Council at a recent budget briefing. The lion’s share of the capital projects were presented by Public Works and Utilities Director Jeremy Abbott and includes a water treatment improvement plan project with a $131M budget, the main contract for which is expected to top $100M, making it one of the most expensive single contracts in the history of Chandler. The FY 2027 cost of $131M will be…

Giving Back 1. Valley Partnership recently closed the application process for nonprofit organizations seeking to participate in its 39th Annual Community Project. Since 1987, the organization has contributed more than $6.5M in facility enhancements and community improvement projects across the Valley. The selected nonprofit will receive volunteer support for outdoor improvement projects, including landscaping, painting, planting, murals and community space enhancements during the Nov. 7 event, which will host approximately 300 volunteers. Awards & Accolades 2. LevRose Commercial Real Estate announced Senior Advisor Trevor White, a retail property specialist, has been named to the ICSC Local Arizona NextGen Committee and…

By Roland Murphy for AZBEX Orsett Properties, developer of the Reserve at San Tan campus on Germann Road in Gilbert, has shifted its original vision for part of the site. Now, rather than developing another office project it feels would not perform well, given the logistical and business challenges of the property, the company wants to build a multifamily community with 121 units. Located at the SWC of Germann Road and Mustang Drive, the Reserve at San Tan campus currently has three office buildings on its western side. The northern building has an occupancy rate of 78%, according to the…

By Roland Murphy for AZBEX When the City of Phoenix approved rezoning 104 acres at the SEC of 19th Avenue and Baseline Road to enable a mixed-use retail and residential development in 2024, it deferred the requirements for site plans, elevations and landscaping plans until users were identified. Now, big-box discount grocer WinCo Foods wants to build an 84KSF store as an anchor development in the 35-acre retail portion of the site, and owner City to City Commercial and master developer Diversified Partners are requesting a stipulation change to let the plan move forward. Of the 55 stipulations attached to…