Author: BEX Staff

By Associated Builders and Contractors The construction industry added 39,000 jobs on net in March, according to an Associated Builders and Contractors analysis of data released today by the U.S. Bureau of Labor Statistics. On a year-over-year basis, industry employment has expanded by 270,000 jobs, an increase of 3.4%. Nonresidential construction employment increased by 24,600 positions on net, with growth in all three subcategories. Nonresidential Specialty Trade added the most jobs, increasing by 16,300 positions. Heavy and Civil Engineering and nonresidential buildings added 6,000 and 2,300 jobs, respectively. The construction unemployment rate fell to 5.4% in March. Unemployment across all…

Giving Back 1. Cushman & Wakefield held a special Art Walk and Happy Hour event for the conclusion of Women’s History Month. The event brought in more than $5K in funds that went to CREO, a non-profit created by cancer survivors to provide treatment funding for cancer patients in need. Awards & Accolades 2. GCON Inc. received Intel’s EPIC Valued Supplier Award for its strong commitment to excellence, partnership, inclusion and continuous improvements. Only five companies have received the EPIC Valued Supplier Award. 3. Sundt Construction’s Stop the STCKY (Sh*t That Can Kill You) safety program has received first place…

Sales Transactions 1. Institutional Property Advisors represented the seller and procured the buyer for the $96M sale of The Hadley North Scottsdale, a 240-unit community. IMT Capital was the buyer and rebranded the property as IMT North Scottsdale. Liv Communities was the seller. 2. Ziff Real Estate Partners has acquired the $26.5M Mercado at Scottsdale Ranch, a 118.75KSF retail space in Scottsdale. Steve Julius, Jess Goldsmith and Chase Dorsett of Newmark represented the seller, Whitestone REIT, in the transaction. Christian Chamblee and Kayla Meier provided self-representation for the buyer. 3. Capstone Collegiate Communities closed on nine parcels for more than…

By Associated Builders and Contractors National nonresidential construction spending declined 1.0% in February, according to an Associated Builders and Contractors analysis of data published by the U.S. Census Bureau. On a seasonally adjusted annualized basis, nonresidential spending totaled $1.179T. Spending was down on a monthly basis in 15 of the 16 nonresidential subcategories. Private nonresidential spending fell 0.9%, while public nonresidential construction spending was down 1.2% in February. “Virtually every nonresidential construction segment experienced a decline in spending in February,” said ABC Chief Economist Anirban Basu. “In certain instances, the monthly decline was sharp, including health care (-2.2%), commercial (-1.9%)…

By Creation RE/PE Creation has been given the green light to move ahead with construction on a three-building, 16-acre industrial park in Tempe, marking the company’s first industrial undertaking within the city. Nexus Commerce Center is a three-building, 274KSF development located on the SEC of Elliot Road and Hardy Drive. These state-of-the-art buildings will replace the vacant Elliot Corporate Center, once anchored by the University of Phoenix as a call center. The existing two-story building will be demolished to make way for the new development. Nexus Commerce Center has been designed and will be built by LGE Design Build. Creation…

By Roland Murphy for AZBEX The Rio Nuevo District Board has issued the draft of its proposed Master Plan for January 2024-December 2035. The document is intended to set the planning goals for the next decade of development, redevelopment and revitalization in the Tax Increment Financing District, which the Arizona Auditor General’s Office has referred to as “the most successful TIF in the United States.” TIFs are a public financing method to subsidize economic development and redevelopment for community improvement. The governing body usually diverts future property tax revenue increases in the target area toward economic development goals or public…

By BEX Staff for AZBEX Walmart is the latest retailer with plans for space in the Berge Destination at Gateway master-planned development near Signal Butte Road and State Route 24 in Mesa. Walmart, Inc. submitted a pre-application to the City of Mesa March 27 with plans for a 171KSF store that will also feature an auto care center, fuel station and outdoor center. The company is requesting approvals for its site plan, design review, and special review permits for the fuel center and an on-site medical clinic. The Walmart location will occupy 17.6 acres of the overall 144-acre Berge site.…

By Associated Builders and Contractors The construction industry had 441,000 job openings on the last day of February, according to an Associated Builders and Contractors analysis of data from the U.S. Bureau of Labor Statistics’ Job Openings and Labor Turnover Survey. JOLTS defines a job opening as any unfilled position for which an employer is actively recruiting. Industry job openings increased by 16,000 last month and are up by 32,000 from the same time last year. “The number of open, unfilled construction positions stood at the second highest level on record at the end of February,” said ABC Chief Economist…

The Flagstaff City Council has approved a zoning change that would allow for housing development within the public facilities zone. Flagstaff declared a housing emergency in 2020 and created a 10-year Housing Plan to address it. The plan components have experienced extensive public discussion, but little development has taken place for either affordable or market rate housing. The zoning change is intended to facilitate affordable housing approvals and construction. There are approximately 180 parcels currently zoned as public facilities. Most were originally intended for government buildings, parks and infrastructure. The City owns roughly 40% of the public facilities-zoned land. Northern…

Awards & Accolades 1. ViaWest Group received a CoStar Impact Award for its work to redevelop an existing office headquarters of Insight Enterprises into Sight Logistics Park, a 357KSF industrial space in Tempe. At the request of the City, ViaWest preserved, stored and relocated an artistic sculpture designed by Mark McDowell to be a landmark at the current industrial park. 2. Arizona Forward honored the Scottsdale Civic Center and the City of Scottsdale with a Crescordia Award in Civic Buildings, Structures and Landscape Design. The award is the highest honor given in each category of Arizona Forward’s environmental excellence awards…