Author: BEX Staff

Giving Back 1. The Dorrance Family Foundation of Scottsdale has issued a $300K matching funds grant to Rancho Feliz for the construction of its new “La Hacienda Feliz” volunteer dormitory in Agua Prieta, Sonora, on the U.S./Mexico border. Volunteers housed at the dorm will build homes, distribute food and care for children and seniors in the area’s slums, fostering cross-cultural service experiences. Groundbreakings 2. Spike Lawrence Ventures broke ground Oct. 31 on the $58M mixed-use development New Square Chandler at the corners of Arizona Avenue and Chicago Street. 3. The Wolff Company has broken ground on Revel Scottsdale, a new independent living apartment community at 8225 E. Indian Bend Road in…

By Roland Murphy for Arizona Builder’s Exchange A proposed new senior living facility is one harbinger of many changes to come along Tatum Boulevard north of Bell and south of Loop 101. A mix of big-box anchors and smaller retail operations cover three of the four corners at Tatum and Bell. The NWC is home to a large multifamily development. Another multifamily complex sits immediately north of that one, and a third lies just east of the NEC. Stretching north to the 101 is an expansive collection of single-family homes, mostly built between 1990 and 2005, with few other development…

By Karisma Sandoval for Cronkite News The Arizona Department of Transportation is working with education and business leaders to change a dismal statistic — more than 90 percent of workers in the construction industry are men, according to the U.S. Department of Labor. ADOT is working with community college leaders and contractors to integrate more women and minorities into a wide range of construction jobs, including welding, trucking, electrical work and building houses and roads. Patricia McKinley used the skills she learned at the construction academy to launch KHAVL Transport in 2016 with just one truck. She now has four…

Sales Transactions 1. MC Companies sold 319-units at Rock Ridge Apartments at 10333 N Oracle Road in Oro Valley to a private investment group for $39.5M. Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch with CBRE’s Phoenix office, in cooperation with Mike Sandahl in CBRE’s Tucson office, handled the transaction on behalf of the buyer and seller. 2. CBRE has arranged the sale of Decco 109, a 40-unit garden-style apartment community located near Arizona State University in Tempe for $4.8M. Brian Smuckler, Jeff Seaman, and Bryson Fricke represented the seller, 5C Onyx Tempe, LLC, and the buyer, B&R Capital Partners and Capital Allocation Partners. 3. Land Advisors Organization Scottsdale…

By Adrienne St. Clair for Arizona Builder’s Exchange Todd & Associates, Inc. has submitted a request to the Town of Queen Creek on behalf of Rock Point Church to expand on the current Rock Point Church facilities at the NEC of Power Road and Ivy Lane. The project is the second phase of a six-phase plan that was approved with the original project proposal. Phase II is planned to be 46KSF and will span to 20.25 acres of the 33.4-acre site. It will add on to the current Rock Point Church building, which is a single-story, 24KSF building consisting of…

Sales Transactions 1. Institutional Property Advisors announced the sale of The Davenport, a 442-unit multifamily asset in Tempe, for $55.5M. IPA’s Steve Gebing and Cliff David represented the seller, an affiliate of Abacus Capital Group and procured the buyer, Tides Equities. 2. Cushman & Wakefield announced Bow River Capital Partners purchased Grand Central Tower — a 20-story, 285KSF, transit-oriented office tower in Phoenix’s Central Corridor— for $14.65M. Steve Lindley, Eric Wichterman, Bob Buckley, Tracy Cartledge and Mike Coover of Cushman & Wakefield’s Phoenix office negotiated the transaction on behalf of the seller, Fenway Capital Advisors. 3. CBRE has completed the $14.6M sale of…

By Adrienne St. Clair for Arizona Builder’s Exchange Virtua Encanto Townhomes, LLC has submitted a project proposal to the City of Avondale to build Encanto Townhomes at Palm Lane — a 116-unit townhome development at the SWC of Avondale and Encanto boulevards. The 8.5-acre (6.9 net acres) site once housed a farm house and accessory building but has been vacant since 2008. The city’s General Plan 2030 sets the site for commercial and office uses, but the project proposal states that because of the site’s location, shape and size, there has been no interest in the property for office space.…

Giving Back 1. Valley Partnership has successfully completed its 2018 community project at Sunshine Acres Children’s Home in Mesa. More than 250 volunteers built a park, a garden, a football field and a playground in less than four hours. Valley Partnership was also able to raise more than $100K in goods, services and monetary donations for this project. 2. The Arizona Community Foundation and its donors announced grant, scholarship and loan distributions for the second quarter of its fiscal year. Between July 1 and September 30, 2018, a total of almost $15.8M was awarded from funds of the Arizona Community Foundation and its six…

Groundbreakings 1. APEX Motorsports broke ground on its car club facility in Maricopa. Completion and opening are planned for early 2019. 2. A ceremonial ground breaking was held on Mercy Medical Commons II, a 56KSF medical office building across from Dignity Mercy Gilbert Medical Center. MedProperties Group of Chicago is developing the project, which will house The CORE Institute in 20KSF. 3. Ryan Companies, Cadence Living and an affiliate of private investor Starwood Capital Group have jointly announced a new senior living community in Scottsdale. Construction is now underway for Acoya Scottsdale at Troon, which will have 135 independent and assisted living…

By Adrienne St. Clair for Arizona Builder’s Exchange The City of Glendale Planning Commission has approved a request from Shea Connelly Development, LLC to build an apartment complex at the SWC of Alice Avenue and 67th Avenue. The new Golden Lane Apartments will feature a contemporary design “with strong building forms, punched windows and flat roofs,” according to Glendale city documents. The development will consist of eight three-story buildings and a single-story community center. There will be 48 one-bedroom, 120 two-bedroom and 24 three-bedroom units — 192 market rate units altogether — which will vary from 690SF to nearly 1200SF.…