Author: BEX Staff

Barclay Group has proposed a 50-acre retail center anchored by a Fry’s Marketplace at the NWC of Farrell and White-and-Parker roads in Maricopa. The San Travasa Retail Center will feature two phases, with the first comprised of a 27-acre component anchored by a 121KSF grocery store with a fuel station and 725 parking spaces. While not identified by name as the planned grocery store, Fry’s Marketplace is the only grocery outlet in Barclay Group’s portfolio that could fit into the planned space. The center will also have one small retail space and one drive-thru at 14.4KSF and 12.6KSF. In addition…

By Roland Murphy for AZBEX With an annual percent change of 4.18%, Phoenix ranked seventh for annual percent change in construction costs across the 14 cities tracked through the end of Q1. Rider Levett Bucknall’s “First Quarter 2025 North America Quarterly Construction Cost Report” shows Los Angeles had the lowest percent change at 3.58%. The greatest changes were seen in Honolulu and Chicago, with 5.37% and 5.47%, respectively. The average national increase in construction costs was 0.98%, which is a modest drop from Q4 2024’s 1.11%. The year-over-year rate fell to 4.35%, down from 5.86% last year. Phoenix’s Comparative Cost…

Groundbreakings 1. McCarthy Building Companies Inc. has broken ground on the North 2 Concourse at Terminal 3 of Phoenix Sky Harbor International Airport. The $326M, 173KSF project will begin with the demolition of an existing annex building, with construction set to start this month. HOK, in collaboration with DFDG Architecture, managed the project’s design, which will include six gates and various supporting amenities. The project is pursuing a minimum of LEED Silver certification and will serve as the first step in a long-term effort to connect Terminals 3 and 4, but that project is expected to take more than 10…

By BEX Staff for AZBEX A new 31-unit single-family attached townhome development could be coming to 1877 E. Hayden Lane, southeast of McClintock and University drives in Tempe, under a proposal from AZTL Developers. The owner has requested setback reductions and fence height increases for the project under requests for a use permit, two use permit standards and approval of a development plan review by the Tempe Development Review Commission. According to a local news report and project documents, the use permit and use permit standards for Lofts on Hayden Lane would reduce the front yard setback from 20 feet…

By Roland Murphy for AZBEX The Wolff Company has proposed a 336-unit apartment community on a nearly 18-acre site northeast of Apache Trail and Plaza Road. The planned Apache and Plaza Multifamily project has a density of 18.2 units/acre and is zoned B3 City Center, which allows for mixed residential and commercial uses. Residential densities of up to 40 units/acre are allowed with the issuance of a conditional-use permit. The developer has requested a conditional use permit and site plan design review. The request is scheduled for a hearing before the Apache Junction Planning and Zoning Commission this week. The…

Two projects concerning Rio Verde Drive could face changes and challenges, as some Scottsdale officials are pressing to reexamine and combine them into one overall effort. In a March 21 meeting of the Scottsdale City Council’s Budget Review Commission, Commissioner Brad Newman floated the idea of combining a planned $35M wildlife crossing/land bridge with an expected future Rio Verde Drive widening for cost efficiency and resource allocation. Newman’s idea was supported by Interim City Manager Greg Caton, who said there was a potential to realize significant gains in efficiency if the two projects’ timelines can be brought more closely together.…

The commercial real estate and construction markets are trying to anticipate their next, best steps following the Trump administration’s announcement of tariffs on more than 150 countries April 2. Markets dropped dramatically, and fears of price increases and the potential for delays in construction, sales and leasing were a commonly expressed concern, including fear of many large projects around the country being abandoned entirely. The scale of the tariffs was larger than many pundits had expected. More than 150 countries were hit with a minimum tariff of at least 10%, while Vietnam saw 46% and China was issued a 34%…

Giving Back 1. Brycon partnered with the Ronald McDonald House and hosted a dinner for the families staying at the main house near the Phoenix Children’s Hospital. The team handled everything from grocery shopping and meal prep to cooking, serving and cleaning. 2. Refrigeration School Inc. is hosting a career fair and open house for welding, HVAC/R and electrical programs on April 9 and 12. The events will provide prospective students with live demonstrations, guided tours, financial aid and career placement information, career insights and networking opportunities. Promotions 3. The Mesa City Council has unanimously appointed Scott Butler as the new City Manager.…

Sales Transactions 1. JLL and HJS Sims arranged $249.7M in bond financing for Integrated Senior Foundation’s senior housing portfolio throughout Arizona and California. The portfolio totals 430 units and includes financing for a 102-unit new development in Buckeye—Ativo of Sundance. The purchase included Ativo Senior Living of Yuma at 10565 S. Commercial Centre Loop in Yuma. The property consists of 79 units. 2. Blackstone sold Arches at Hidden Creek to Brookfield Properties for $95.4M. The 25.3-acre apartment complex is in Chandler at 1586 W. Maggio Way. 3. Copper Point, a 93.3KSF medical outpatient facility, was acquired by Transwestern Investment Group…

By Roland Murphy for AZBEX ATLAS Capital Partners and development partner Hawkins Development Company have acquired 38 acres in Mesa’s Elliot Road Tech Corridor for nearly $13.8M. In its March 26 meeting, the Mesa Planning and Zoning Board approved a preliminary plat and recommended approval of a rezoning request for the property at 4140 S. Signal Butte Road. Referred to as ATLAS Exchange in the company’s purchase announcement and Atlas – Mesa Eastmark in municipal project documents, the industrial development is planned as a “four-building, Class A industrial project… differentiated by its low-coverage building designs with large, secured and screened…