Author: BEX Staff

By Roland Murphy for AZBEX In its meeting later this week, the Casa Grande Planning and Zoning Commission will be presented with two separate proposals for industrial park master plans that could put more than 2,300 acres up for new development. Both sets of requests were submitted by Colliers Engineering & Design, formerly HILGARTWILSON. Grande Valley Industrial The first project—Grande Valley Industrial—calls for a major General Plan amendment from Neighborhoods to Manufacturing/Industry for approximately 2,250 gross acres at the SEC of Maricopa-Casa Grande Highway and Indian Valley Road. According to the submitted narrative, “The majority of the property within close…

By Roland Murphy for AZBEX After a unanimous vote by the Carefree Town Council to pursue finalizing a development agreement, The Empire Group of Companies and Diversified Partners announced the official commencement of their Carefree Quarter development at the NEC of Carefree Highway and Cave Creek Road. Council is expected to formally approve the agreement next month. The development agreement centers around a Retail Development Sales Tax Incentive. A presentation to Council explaining the plan and agreement terms shows the roughly 20-acre property divided into three distinct development areas and bisected by a wash feature, which had negatively impacted previous…

The City of Mesa is facing a potential lawsuit over claims its zoning and land use regulations damaged a local business owner. Under Arizona law, if a jurisdiction enacts land use legislation that negatively impacts the value of a property owner’s land, the owner is entitled to compensation. Toms Investment LLC, managed by Alan Tom, owns a 2.24-acre vacant parcel north of University Drive and Ellsworth Road. The company took ownership in 1999. The land is zoned for limited commercial uses, which generally includes a car wash or other automotive-related businesses. Last October, Toms entered into a ground lease letter…

The City of Tempe is proposing three separate bond issues for a combined total of more than $500M. The funds would go toward Capital Improvement Projects, consistent with public wishes gleaned from surveys, as well as the goals of General Plan 2050. According to the City, “Owners of a median home in Tempe with a full cash property tax value of $410K will pay additional secondary property taxes of about $74. Tempe’s plan of financing is to pay off some existing general obligation bonds before issuing the new bonds and the portion of the existing secondary property taxes that was…

Awards & Accolades 1. Schnitzer Properties President and CEO Jordan Schnitzer received the Cornerstone Award at Sun Corridor Inc.’s annual luncheon. The award recognizes community leaders for significant contributions to strengthening southern Arizona’s economy. The company is breaking ground on 334KSF in new industrial developments in Tucson. 2. Jeremy Sharpe, the Managing Partner of Rancho Sahuarita and President of Sharpe Development Group, is the recipient of the 2024 CopperPoint Small Business Leader of the Year. The award was presented at the CopperPoint Copper Cactus Awards ceremony. Sharpe has also raised more than $3M for brain cancer research. New Hires 3.…

Sales Transactions 1. Cushman & Wakefield has arranged the $18M sale of Pima Street Logistics Center, a 97.2KSF standalone industrial building on approximately 4.2 acres in Phoenix near Sky Harbor. The infill building is currently 100% leased to three tenants. The property was acquired by an Ares Management Real Estate fund and will be managed by Ares Industrial Management. C&W’sWill Strong, Michael Matchett and Molly Hunt represented the seller, Berkeley Partners. 2. MLS Realty LLC was represented by Keyser Commercial Real Estate in its sale of a 78.7KSF industrial property at 7885 N. Glen Harbor Blvd. The property sold for…

By American Institute of Architects It has now been nearly two years since (architectural) firms saw sustained growth. However, clients are still expressing interest in new projects, as inquiries into work have continued to increase during that period. However, those inquiries remain challenging to convert to actual new projects in the pipeline, as the value of newly signed design contracts declined for the fifth consecutive month in August. Business conditions softened in all regions of the country in August, with firms located in the West reporting the softest conditions for the second consecutive month. Billings were flat at firms located…

PulteGroup has submitted plans for a 6,355-acre master-planned development in north Phoenix. The land belongs to Arizona State Land Department and is south of Taiwan Semiconductor Manufacturing Co.’s plant, just west of Interstate 17. A land auction will be required but has not yet been scheduled. Documents show the developer is requesting a maximum of 19,247 dwelling units, ranging from single-family to high-density apartments. The site contains six “master development parcels” that each carry a variety of land uses. The parcel closest to TSMC is called the “innovation corridor” and could potentially include employment, manufacturing and regional commerce. Residential units…

By CJ Jorgensen for AZBEX The City of Buckeye’s Planning & Zoning Commission recommended approval of a minor General Plan amendment and rezoning for the proposed Ventana Ranch South master-planned development at its Oct. 8 meeting. The minor General Plan amendment and rezoning requests were submitted concurrently with one another. A 55.1-acre portion of the overall parcel will be changed. The land sits at the NEC of West Southern Avenue and South Watson Road. Prior to the amendment, the land was designated as Neighborhood. The proposed changes would consist of approximately 11.2 acres remaining Neighborhood while approximately 43.9 acres change…

By Western Retail Advisors Phoenix-based retail brokerage specialist Western Retail Advisors has announced the completion of a 20.45-acre, $14.4M land acquisition in San Tan Valley, purchased for the development of a 318-unit apartment project. Jake McClaughry and Brian Gausden of Western Retail Advisors represented the property buyer, Z Modular, a division of Zekelman Industries. Matt Rinzler of Insight Land and Investments represented the property seller, Diversified Partners. The San Tan Valley land site sits at the SEC of Gantzel Road and El Parque Lane. It is surrounded by single-family housing and is walkable to major national retailers and restaurants. It…