Author: BEX Staff

Sales Transactions 1. CBRE negotiated the sale of Smith & Rio, a 310-unit multifamily community located at 1979 E. Rio Salada Pkwy. in Tempe. CBRE’s Asher Gunter, Matt Pesch, Sean Cunningham and Austin Groen represented the seller, a partnership between PGIM Real Estate and High Street Residential, the residential subsidiary of Trammell Crow Company. Industry news outlets reported the sales price at $106M. 2. Institutional Property Advisors, a division of Marcus & Millichap, facilitated the $56.5M sale of the Hampton Meridian at 3000 W. Southern Ave. in Apache Junction. The 195-unit property was sold by The Carlyle Group to Hampton…

By Chlorum Solutions USA Chlorum Solutions USA LLC, formally announced the development of its first small-scale U.S. chlor-alkali plant in Casa Grande. The plant will enhance local supply chain resilience in the U.S. chemical industry with its decentralized model tailored for this purpose. The Arizona facility will be a model of environmentally friendly, safe practices. With an investment of more than $70M, this plant aims to set a new standard in proximity-based chemical production, reducing transport risks and reliance on long-haul shipping. By serving markets outside major petrochemical hubs like Texas and Louisiana, Chlorum Solutions USA addresses a critical need…

By Roland Murphy for AZBEX The Gilbert Planning Commission/Design Review Board has unanimously approved a set of requests that will allow for the development of two hotels and three medical office buildings on a 9.45-acre site on the north side of Melrose Street between Val Vista Drive and Rome Street. The requests associated with the Val Vista & Melrose Mixed-Use project, identified in the submitted documents as Val Vista and Melrose – New Development, sought approval for a set of findings of fact, as well as approval for a site plan, landscaping, grading and drainage, elevations, floor plans, and lighting.…

Major airports are never truly finished. Virtually every airport larger than a single-hangar crop duster strip always has construction happening somewhere on the grounds. As one of the 10 busiest airports in the U.S. and 25 busiest airports in the world, Phoenix Sky Harbor International Airport has more planned and ongoing construction than most. Following is an update on the extensive work planned for PSHIA in 2025. Terminal 3 Expansions With Terminal 4 being built out, attention is now turning to Terminal 3. In 2025, a new north concourse and a pedestrian bridge to connect Terminal 3 and Terminal 4…

By Arizona Office of Economic Opportunity Gov. Katie Hobbs and the Arizona Office of Economic Opportunity have announced $1M in funding for the next phase of the BuildItAZ Apprenticeship Initiative, which aims to connect Arizonans with the skills they need for construction and trades jobs. After the Governor launched BuildItAZ in 2023, Arizona saw growth in enrollment of construction and trades apprentices, marking progress toward her administration’s goal to double the number of construction and trades registered apprentices by 2026. To continue the efforts, OEO will grant $1M in federal workforce funds to registered apprenticeship programs to recruit more apprentices,…

By National Association of Home Builders Bipartisan legislation tailored specifically to ease the severe residential construction labor shortage was introduced in the House this week. Reps. Juan Ciscomani (R-Ariz.), Marie Gluesenkamp Perez (D-Wash.), Ryan Zinke (R-Mont.) and Don Davis (D-N.C.) introduced the CONSTRUCTS Act, companion legislation to the Senate bill introduced earlier this year by Sens. Jacky Rosen (D-Nev.) and Marsha Blackburn (R-Tenn.) that will support the construction workforce, help improve the housing supply and bend the rising housing cost curve across the nation. The CONSTRUCTS Act directly addresses the lack of workers in the housing sector by expanding opportunities…

Progress Reports 1. Crews have begun clearing land for new travel lanes, removing sound walls and preparing the foundations for new bridges for the I-40/US 93 Interchange project in Kingman. This progress comes six months into the Arizona Department of Transportation’s $106M project to eliminate delays that can occur for passenger and truck traffic on the main route between Las Vegas and Arizona. Construction is expected to continue into 2027. Completions 2. P.B. Bell introduced pre-leasing at its apartment home complex Everly at Morrison Ranch. The development is a part of the Morrison Ranch master-planned community on Elliot Road east…

The Casa Grande Board of Adjustment delayed its decision regarding an appeal against rulings related to Buckthorne, a proposed 80-acre immigrant detention center at Gila Bend Highway and Ethington Road. Target Logistics Management LLC has requested consideration of a major site plan to build Buckthorne. If built, the detention facility will be able to house approximately 1,500 unaccompanied minors who cross into the United States seeking asylum. In October, Rose Law Group filed an appeal against the City’s administrative decision classifying Buckthorne as “essential public service use.” The administrative decision would permit the construction of the detention center. The appeal…

By BEX Staff The Laughlin Town Advisory Board is considering asking Clark County or the State of Nevada for funds intended to improve the Laughlin-Bullhead City International Airport, also known by the airport callsign IFP. According to local news reports, the consideration arose after Airport Director James Scheller presented a five-step plan to the LTAB, which included the plea for funds. The City of Bullhead City has already committed to investing in the project, which has an estimated cost of $40M. Nevada has previously aided in funding the airport projects, such as the existing runway. Improvements to the airport consist…

By Roland Murphy for AZBEX AZBEX has been looking into the efforts and actions of labor union Unite Here and its affiliated group Worker Power Institute to influence major Arizona development projects for several months. We were simultaneously happy and a tad bit surprised to see the Arizona Republic article, which we have summarized below, hit the street this past weekend before our own inquiries were concluded to our satisfaction. Be on the lookout for our findings in an upcoming article. The Republic’s Dec. 14 article reports Unite Here Local 11, a union representing service workers in Arizona and southern…