Author: BEX Staff

By Roland Murphy for AZBEX Developer MK Company, Inc. (operating as Canoa Preserve Development Partners LLC) is requesting a conditional use permit that will allow for a 48-room resort development on 30 acres near Continental and Green Valley in Pima County. The property is part of the Canoa Preserve Final Plat and lies east of South Camino de la Canoa, approximately two miles south of Whitehouse Canyon Road and one mile east of Interstate 19. Platted but vacant subdivisions are located to the north, south and east, while the land to the west is undeveloped, according to the Pima County…

The Coronado National Forest and its partner nonprofit group Friends of Sabino Canyon will hold an open house on July 11 to present plans for a new Sabino Canyon Visitor Center. The event runs from 4:30 p.m.- 6:30 p.m. on July 11 at the Sheraton Tucson Hotel and Suites on East Grant Road. The partners say the current facility is outdated and inadequate to serve Sabino Canyon’s roughly one million annual visitors. The updated center will be built behind the current location and will be a “multi-generational” development with the capacity to serve more than 30 Forest Service employees and…

By Roland Murphy for AZBEX In its North American Quarterly Construction Cost Report for Q2, Rider Levett Bucknall shows metro Phoenix costs rose 4.17% between April 2023 and April 2024. Phoenix was 10th out of the 12 metro areas analyzed in the report. Chicago led the nation with a year-over-year increase of 7.67%, followed by Seattle at 6.53%. San Francisco saw the lowest increase, coming in at 4.00%. For Q2, the Phoenix area saw an increase of 0.94%. Q4 2023 had an increase of 0.83%, while Q1 2023 was last year’s highest for the local market at 1.36%. Key national…

Giving Back 1. The Sundt Foundation, along with subcontractor E&K of Phoenix and other partners, collaborated to renovate The Foster Alliance’s (formerly Arizona Helping Hands) space in Phoenix and provide a two-phase expansion. Using plans created by Corgan, E&K of Phoenix and their partners secured the contracts and permits, provided all the parts and labor, and delivered a comfortable shopping experience for foster families. Phase II will create a volunteer center for the Alliance. While Sundt and E&K of Phoenix were working on the retail facility, Sundt Transportation Group spent two days fixing a long-standing sewer issue. Since the work…

Sales Transactions 1. Pine Tree and a state pension fund partner have paid $91M for Arrowhead Crossing, a 362KSF retail center near 77th Avenue and Bell Road in Peoria. Pine Tree will now manage the property. 2. Represented by Nick Miner of ORION Investment Real Estate, Arileus Capital purchased Superstition Marketplace—a 54.4KSF retail center near Superstition Springs Mall in Mesa—for $11.6M. The seller was Superstition Marketplace LLC. 3. 22 Kendrick, LLC has sold a two-building, 25KSF office complex at 850 and 858 W. Elliot Road in Tempe to Hana Koa, LLC for $6.2M. The seller was represented by Steve Berghoff…

By Roland Murphy for AZBEX – BEXclusive MODUS Companies (MODUS Development) has submitted a proposal for a 94-unit single-family Build-to-Rent development in south Scottsdale on Oak Street near 64th Street. Papago Village would provide 46 one-bedroom and 48 two-bedroom units on 10.01 gross acres. According to the project narrative, the development will have a Mid-Century Modern design aspect, drawing from the architecture of neighboring homes and an existing office building on the site that will be retained in the new development. The building was designed by Taliesin Architects and built in 1972. The interior of the building will be redeveloped…

By BEX Staff for AZBEX Recently announced changes to plans from the City of Glendale and VAI Resort could free up two aspects of the resort development that had threatened to bog down its progress. In the first instance, local news outlets report the City and VAI Resort are foregoing plans for a Government Property Leased Excise Tax incentive program. The GPLET agreement was approved in 2020, and a 2023 economic analysis estimated the property tax abatement at approximately $100M over a 25-year term. The value to Glendale from annual revenues was estimated at nearly $800M over the same timeframe.…

By City of Tempe The City of Tempe and Tempe Sister Cities are working together to build housing, a boutique hotel, and a new event space in downtown Tempe – all while ensuring the historic Hackett House is protected and maintained. The historic 1888 Hackett House at Fourth Street and Mill Avenue is one of Tempe’s iconic buildings. It’s been the home to Tempe Sister Cities for decades. However, the organization needs more space and a more modern commercial kitchen for its activities. Recognizing an opportunity, the City of Tempe and Tempe Sister Cities came together to craft a plan…

A new 19.3KSF building at the SEC of College Avenue and Highway 70 in Thatcher will expand facilities at Eastern Arizona College. The building will provide a 12KSF cosmetology center and 7.3KSF of medical uses. The space will upgrade facilities for the school’s cosmetology program, which will increase its capacity from the current limit of 70 students to 130. The estimated building cost is $12M, which will be funded by EAC reserves not subject to expenditure limitations. The medical portion will be leased to a healthcare provider, which will generate additional funds for the facility. The cosmetology facility will include…

By City of Glendale Downtown Glendale will be the home of Hilton’s first LivSmart Studios in Arizona. LivSmart by Hilton is the newest addition to the portfolio of 24 world-class brands. The property will help provide needed lodging to support Glendale’s Civic Center for overnight conferences and events and the millions of annual visitors to Glendale’s downtown looking for modern, comfortable accommodations. It will also serve as a hospitality option for Glendale’s Sports & Entertainment District. Arizona-based CivicGroup is the developer. “Hilton sets the standard for hospitality all over the world,” said Chris DeRose, President of CivicGroup, “and we are…