Author: BEX Staff

By Roland Murphy for Arizona Builder’s Exchange For most Arizonans, Spring means warmer temperatures, baseball and seasonal allergies as the desert starts coming into full bloom. For AZBEX, it means easing (we hope) back into a heavy Public Sector project focus as towns, counties, universities and state agencies start discussing and evaluating their upcoming five-year Capital Improvement Project plans. The past couple of weeks we saw a few stories trickle in from around the state. In starting to put today’s (April 3) issue together, there were four. The deluge is, apparently, starting. Rather than bombard our readers with stories from…

By Jane Stewart for Arizona Builder’s Exchange The City of Chandler may soon see a new light industrial development known as The Lotus Project. The concept, and a rezoning request, went before the City’s Planning and Zoning Commission for approval at its March 21st meeting. The project site is approximately 52.7 acres located at the SWC of Frye Road and Roosevelt Avenue, north of the Loop 202 Santan Freeway and west of Kyrene Road. The applicant, Sven Tustin with Conor Commercial Real Estate, made the request for “rezoning from Planned Area Development for Industrial to PAD (Light Industrial and General…

Sales Transactions 1. Colliers International negotiated the sale of the Summerhill Place apartments in Glendale for $19.8M. The “HSK Team” of Bill Hahn, Trevor Koskovich and Jesse Hudson of Colliers International in Phoenix represented the seller and secured the buyer, Maesag Properties, LLC. Trimark-Summerhill Place, LLC, an entity formed by Trimark Property Group, was the seller. 2. Lennar Corp. has made a $17.6M land purchase in Surprise at Grand Avenue near Loop 303 for 232 home sites in the Asante development. The seller was HE Capital Phase 1 Property LLC. Brokers in the transaction were Land Advisors Organization’s Ryan Semro,…

By Rofida Khairalla for Coolidge Examiner Saint Holdings, a Pinal County land holding corporation, has big plans for Coolidge. At Wednesday’s Chamber of Commerce luncheon, Matthew McCormick, VP of acquisitions for Saint Holdings LLC, presented on what the company hopes to bring to the expanding city. One future development would be on approximately 11,000 acres along the southern end of Coolidge, purchased from the city of Mesa over the course of two years. Known as the “Heritage Project,” the hub is to feature master-planned communities, educational areas, health care centers and even an agricultural community similar to Gilbert’s Agritopia. The…

By Roland Murphy for Arizona Builder’s Exchange When we broke the news last week that Project Wildcat, the hush-hush 2.3MSF project in initial planning for the Century Research Park/Port of Tucson was, in fact, for an Amazon fulfillment and distribution center, we knew a lot of other reporters were going to jump on the story and turn up new and interesting things beyond what we pulled out of the preliminary development documents. (AZBEX, March 20) We have already seen unusual things, and they promise to get stranger. First, another outlet picked up our story and did a rewrite, which we…

Awards & Accolades 1. Phoenix Business Journal has published its list of Top Valley Construction Projects Started in 2017. Taking the Number 1 spot is the Maricopa County Intake Transfer and Release Facility, with a total budget of $185M. Groundbreakings 2. The $10.5M, 122.5KSF Westech Business Center broke ground this week, marking the latest speculative industrial development to begin construction in the City of Chandler as it aims to attract more jobs and companies. Petsas Commercial, LLC is the owner/developer. 3. Arizona Department of Transportation is scheduled to begin a second Interstate 10 widening project in Pinal County in the…

By AZBEX Staff for Arizona Builder’s Exchange As part of its Capital Campaign to raise funds for facility upgrades and a new sports center, The University of Arizona this weekend released details and images for five planned projects: Arizona Stadium Renovations and Upgrades McKale Center Hillenbrand Aquatic Center Hillenbrand Stadium Indoor Sports Center The total $66M Capital Improvement Plan for sports facilities was approved by the Arizona Board of Regents in September of last year. Student fees, media rights revenue and donor contributions will help fund the projects. Work is already underway on the $25M Arizona Stadium renovation, which will…

By Orbital ATK and AZBEX Staff for Arizona Builder’s Exchange Arizona Governor Doug Ducey, Chandler Mayor Jay Tibshraeny and Orbital ATK announced the expansion of the company’s launch vehicles operations onto a new campus in Chandler. Chandler City Council approved a resolution and rezoning to support the development of the new Orbital ATK campus at Willis Road along Chandler’s Price Corridor, known for being home to companies focused on advanced business services, aerospace, life sciences, sustainable and high technology research and manufacturing. With the expansion, Orbital ATK will occupy 617KSF in two buildings on a 47-acre campus. Manufacturing space will…

By Roland Murphy for Arizona Builder’s Exchange Kaplan Management Company earned approval last week from the Chandler Planning & Zoning Commission for its plan to build a 4-story, 320-unit multifamily project at the NWC of Frye Road and 95th Street, east of Dobson Road. The company was seeking rezoning from Single Family Residential to Planned Area Development for Multifamily Residential with a Mid-Rise Overlay for building heights up to 50 feet, as well approval for its Preliminary Development Plan. The neighborhood has been designated as a Growth Area, and Frye Road is considered a High Capacity Transit Corridor. “A variety…

Sales Transactions 1. CBRE negotiated the $54M sale of Tuscany Ridge, a 336-unit Class A multifamily community, in Peoria. Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch with CBRE Multifamily Institutional Properties in Phoenix represented the seller, a New York City-based pension fund advisor. The buyer is a JV partnership between Gerry Ranglas/RV Management, Wermers Properties and Loma Linda University Endowment. Mike Dow of Impact Multifamily Advisors negotiated the deal on behalf of the buyers. PCCP, LCC provided the financing. 2. Cushman & Wakefield represented Clear Sky Timberline LP, an entity formed by Clear Sky Capital in the bulk…