Author: BEX Staff

Sales Transactions 1. Level at Sixteenth, a 240-unit multifamily development at 16th Street and Campbell Avenue, recently sold for $61.5M. The sale was announced by Institutional Property Advisors, a division of Marcus & Millichap. IPA’s Steve Gebing and Cliff David represented the seller, Sares Regis Multifamily Investment Management, and also procured the buyer. 2. Applied Materials Inc. has acquired GO|AZ Ave, a 181.7KSF industrial building in Chandler, from GO Industrial for $41.2M. The multitenant property includes a 3.2KSF office component and sits on a 10-acre site. CBRE represented the seller, and Cushman & Wakefield represented the buyer. 3. Cushman &…

By BEX Staff for AZBEX A modular cabin resort and a manufactured home workforce housing development are under consideration in the Valle area of Coconino County. Williams News reported on the Maclaine Meadows Arcana Resort Subdivision, as presented to the Coconino County Planning and Zoning Commission in a study session last month. The plan covers two parcels totaling 122 acres, less than a mile north of U.S.-180 and AZ-64, which the Arizona Daily Sun reported as owned by Live the Dream Development. The 82.25-acre Arcana resort portion would feature 150 prefabricated short-term rental units and on-site amenities. The developer has…

The City of Peoria plans to buy 834.5 acres in an Aug. 27 Arizona State Land Department auction as part of its Peoria Innovation Core development plan. The minimum bid will be $46.7M. PIC is a major economic development priority for Peoria, which is planning to take the lead in development up to 6,700 total acres as part of the overall program. The City will serve as the master planner and intends to invest $140M into core infrastructure for the area to prepare it for future commercial and employment developers. The City will take the lead on zoning and entitlement,…

By Roland Murphy for AZBEX Evolving market conditions and product appetites have led IDM Companies to update longstanding plans for a 171-acre property at the SEC of 99th Avenue and Thomas Road in Phoenix. In a stipulation modification request submitted to the Phoenix Planning Hearing Officer, project representatives discussed the history and evolving visions for the Sheely Center Planned Unit Development, which was originally approved in January 2013. “The Property is optimally situated at the western gateway to the City, with nearly one mile of freeway frontage – boasting high visibility and superior access for future users,” the submission says.…

On July 8, the Prescott City Council heard a presentation discussing the Highway 89 effluent line improvements and widening project and opened a 60-day public comment period. Kimley-Horn and Associates LLC has been working on the design since November 2024. The improvement effort includes replacing the effluent main, replacing the gravity sewer main and expanding a two-mile stretch of the highway between the Phippen and Willow Lake roundabouts. Three separate alternatives were discussed during the presentation: 3B: Widening the highway to five lanes, implementing two new roundabouts and right-outs; 5B: Widening the highway to five lanes. The Narrows would feature…

The City of Apache Junction will pay $4.59M for 76.54 acres of Arizona State Trust Land south of State Route 88 and north of Lost Dutchman Blvd. The City was the sole bidder in the recent land auction. Apache Junction will construct an earthen flood control project called the Weekes Wash Regional Multi-use Detention Facility on the site to reduce flash floods and flood-related losses downstream. The City secured $44.5M in federal funds for the development, which is currently in environmental, historic review with the Federal Emergency Management Agency. The 10-square-mile Weekes Wash watershed collects rainwater during storms and sends…

By National Association of Home Builders Multifamily units completed reached 608,000 in 2024—their highest level since 1986, according to a National Association of Home Builders analysis of the Census Bureau’s Survey of Construction. For the eighth consecutive year, most (54%) were high-density buildings comprising 50 or more units—a relatively new trend compared to early estimates in the series. Where Are Multifamily Units Being Built? The South accounted for 292,000 completions (48%) in 2024, while the West held 163,000 (27%), the Midwest 87,000 (14%) and the Northeast 68,000 (11%). Completions in the South were weighted toward low-medium density buildings—a reverse of…

Awards & Accolades 1. Green Ideas Building Science Consultants completed LEED certification for three Fox Restaurant Concepts projects at Novus Innovation Corridor in Tempe. Catellus Development Corporation, the master developer, engaged Green Ideas to deliver LEED Silver certification for Flower Child, Blanco Taco Cocina + Cantina and North Italia. Designed by Nelsen Partners Architects & Planners, the restaurants are part of Novus Place, a mixed-use district in the LEED for Neighborhood Development-certified community. 2. Aligned Data Centers announced it is the latest Phoenix-based data center to receive a Green Globes for New Construction certification from the Green Building Initiative. Groundbreakings…

Despite dire warnings from economic development officials, the Phoenix City Council has unanimously voted to approve a modified set of zoning restrictions and a General Plan amendment for data centers. AZBEX has extensively reported on the moves to restrict data centers in Phoenix and other cities in recent issues. (AZBEX: May 21; June 10; June 18; July 2) Mayor Kate Gallego led the push for the restrictions in addition to calling for the State to eliminate development incentives for data centers, referring to the program as “antiquated.” Gallego and other supporters of the new restrictions cited claims the industrial subsector…

Beale Infrastructure Group, developer of the proposed Project Blue data center development in southeast Tucson, is considering two more potential data center projects in the area. That possibility is in the early stages of consideration, according to various sources. One of the potential locations is in Tucson, possibly adjacent to the currently proposed project site. The other is in the Marana area. Earlier this year, AZBEX was the first outlet to report on a broader area specific plan for 290 acres west of Houghton Road. That plan was eventually revealed to be Beale’s Project Blue. (AZBEX, April 30) Project Blue…