Author: BEX Staff

Sales Transactions 1. JLL Capital Markets announced the $86M sale of a four medical building portfolio totaling more 181KSF in three areas: Phoenix, southern Florida and Chicago. The Phoenix property was the Oasis Surgical Hospital at 750 N. 40th St. Remedy Medical Properties and Kayne Anderson Real Estate were the buyers. Seller Flagler Healthcare Investments was represented by Mindy Berman, Matt DiCesare and Liam Sorensen of JLL’s Medical Properties Group Advisory team. 2. ViaWest Group has completed the $71.8M acquisition of a 428.4KSF industrial portfolio in Gilbert. This portfolio is 98% occupied, spans 26.87 acres and comprises six buildings housing…

When you cut through all the noise, politics and sociology generally boil down to the study of unintended consequences. Congruent with the establishment of the U.S. Department of Education in 1979, the United States also began to see a cultural shift in societal views on education, work and “success.” While USDoE does not directly determine curricula, it does drive culture, particularly as it defines one of its primary functions as focusing attention on key educational issues. In theory, that’s a neutral-to-beneficial goal. In reality, it contributed to a national paradigm shift that has left core segments of the U.S. economy…

Mainstreet Capital Partners is requesting increases to the allowed building height and density for a 0.92-gross acre parcel at the NEC of Central Avenue and Garfield Street in Roosevelt Row. If approved, the developer plans to build a 30-story mixed-use tower with 297 residential units, 142 parking spaces and slightly more than 8KSF of ground floor retail and restaurant area. A vacant auto repair shop on the site would be demolished to make way for the new development. Phoenix’s Central City Village Planning Committee will hear the requests in a Feb. 12 meeting. The site owner is KDCD LLC. Mainstreet…

The Design-Build Institute of America has updated its Design Excellence Position Statement to emphasize collaboration between design and construction professionals through all stages of the project delivery, from procurement and development through execution. Understanding the changing needs of the design community, the statement introduces five lenses to help provide a framework for evaluating design excellence and to acknowledge the diverse aspects crucial for successful design-build outcomes. These lenses include: Integration & Collaborative Process: Emphasizing collaboration and integration across project teams throughout the project lifecycle; Healthy Living: Prioritizing user experience by crafting spaces that promote well-being, health and safety; Community Impact…

The Phoenix City Council has tabled its consideration of a planned expansion to the Central Business District until March 6. The discussion had initially been planned for the Feb. 7 meeting. At issue is a proposal to expand the CBD boundaries from its current two-square-mile area out to an approximately 12-mile zone. The current district covers 19th Avenue to 9th Street and McDowell Road to Buchanan Street. The potentially expanded area would range from 23rd Avenue to 7th Street and Thomas Road to Broadway Road. Expanding the CBD would allow for new redevelopment efforts, including for the Arizona Veterans Memorial…

The U.S. Department of Commerce has signaled that it plans to raise tariffs later this year on imports of Canadian softwood lumber products from the current rate of 8.05% to about 14% following its annual review of existing tariffs. Although the National Association of Home Builders is disappointed by this action, this decision is part of the regularly scheduled review process the United States employs to ensure adequate relief to American companies and industries impacted by unfair trade practices. The Department of Commerce initiated its fifth administrative reviews of its softwood lumber anti-dumping and countervailing duty orders last March and…

By Arizona Commerce Authority BlackStar Orbital Technologies Corporation, headquartered on the Florida space coast, announced the establishment of a new engineering and manufacturing facility in Sierra Vista. Located at Sierra Vista Municipal Airport, the facility is set to be operational by 2026. This facility is poised to be a cornerstone for the development and production of the BlackStar Spacecraft, the company’s spaceplane-satellite hybrid. The BlackStar Spacecraft combines the functionality of a satellite with the versatility of a spaceplane, designed for diverse missions including Earth observation, environmental monitoring, and advanced communication solutions for both commercial and defense purposes. Its capabilities also…

The Town of Clarkdale has produced a Trails and Active Transportation Master Plan after more than a year of development work and is introducing it for the last round of public engagement. Officials will hold an open house Feb. 8 to introduce the plan and solicit feedback. While the plan focuses on the development of the local and regional trail system, representatives point out it is a total transportation plan and also considers street crossings, roadway connections and safely shared use between cyclists, motorists and pedestrians. The plan was created after residents said they wanted easier ways to connect to…

Developer Menlo Equities is proposing the conversion of an Ahwatukee office park into a 1MSF mixed-use data center campus. The company’s vision for the roughly 40-acre East Thistle Data Center site at the SWC of 50th Street and Thistle Landing Drive would include five buildings of approximately 206.5KSF each, as well as a two-acre community park. Planned uses include a data center and office space for research and development. The existing space is mostly vacant and houses four single-story buildings constructed in 1998 as an office park and call center development. Menlo Equities bought the property for a total of…

By Roland Murphy for AZBEX While the approval of Arizona’s first Buc-ee’s convenience store was getting all the attention, there was plenty of newsworthy action on the industrial development front in Goodyear as well. The requests for the 75KSF travel center also included a 722KSF, four-building industrial proposal from EJM Development with structures ranging from 143KSF to 203KSF. That plan was mentioned in the Buc-ee’s project without much, if any additional detail in most outlets. Going almost completely unnoticed in the travel center hoopla, however, was a separate EJM proposal for a roughly 51-acre site located two parcels to the…