Author: BEX Staff

Giving Back 1. Wespac Construction Inc. has launched Wespac Charities, a philanthropic initiative supporting smaller nonprofit organizations through funding, volunteer opportunities and community initiatives. The program has a goal to donate $1M annually. 2. The Arcadian, a luxury townhome community at 32nd Street and Indian School in Phoenix, has joined the Arizona Housing Fund as a fundraising partner. Developer Geneva Holdings will donate $100 to the Fund for every home sold. The Arizona Housing Fund supports nonprofit housing projects that provide permanent, supportive housing for Arizonans experiencing homelessness. 3. The Opus Foundation recently celebrated its 25th anniversary. The Foundation was…

Sales Transactions 1. An affiliate of Wentworth Property Company, LLC paid $26.8M for a two-building Class A office campus totaling 238.5KSF at 25500–25600 N. Norterra Dr. in Phoenix from Workspace Property Trust. CBRE’s Jim Bayless and Ashley Brooks Jr. advised on the transaction. The campus includes two three-story buildings originally built in 2001. Wentworth Property Management will manage the property, and Bayless and Brooks will lease the campus on behalf of Wentworth.

By Roland Murphy for AZBEX Anyone who has ever stepped into a new role knows the challenges, thrill and trepidation that come with taking the reins and making that slot your own. Whether the role is newly created, meaning your actions will influence the future actions of all who come after you, or long-established, in which your predecessors have cast a long shadow and left you big shoes to fill, the need to create a clear vision with solid goals can be both daunting and delightful. In the March 3 BEX Leading Market Series event: “New Titles, New Perspectives: A…

By BEX Staff for AZBEX The Buckeye City Council held an initial hearing this week to consider a request from ViaWest Group to annex 85.3 acres of unincorporated Maricopa County land for a future industrial park at the SEC of State Route 85 and Interstate 10. A local news outlet reported the company bought the site in 2024 for $8.3M. The March 3 meeting was a first consideration of the “Buckeye 83” annexation request. A second hearing will be required before a vote is taken. The submitted narrative, provided by law firm Berry Riddell LLC, notes the site is made…

By Associated Builders and Contractors Construction input prices increased 0.7% in January compared to the previous month, according to an Associated Builders and Contractors analysis of U.S. Bureau of Labor Statistics Producer Price Index data. Nonresidential construction input prices increased 0.6% for the month. Overall construction input prices are 2.3% higher than a year ago, while nonresidential construction input prices are 2.9% higher. Prices increased in two of three energy categories last month. Crude petroleum and unprocessed energy materials prices were up 1.8% and 0.4%, respectively, while natural gas prices were down 2.9% in January. “Nonresidential construction input prices rebounded…

Groundbreakings 1. Groundwork has begun on BNSF Railway’s proposed Logistics Park Phoenix rail hub site in Wittmann near 235th Avenue and U.S. 60. Initial work includes grading approximately 350 acres and constructing additional track as the first phase of the company’s planned intermodal facility. The larger project, valued at $3.2B, is designed to integrate an intermodal facility, logistics park and logistics center to expand freight capacity in Arizona. The site is part of a 4,300-acre property BNSF owns in the area. 2. The NRP Group has begun construction on a 353-unit multifamily community in the Medina Station master-planned development. The…

By Roland Murphy for AZBEX When the City of Phoenix narrowed its conditions for acceptable data center development sites in 2025, it put Vintage Partners in a complicated situation. AZBEX has extensively covered the move to restrict data center conditions in Phoenix and other jurisdictions around the state. Most of that reporting is available here. Vintage owns a 63-acre property at the SWC of Loop 202 and Lower Buckeye Road. The site, which the company purchased from the Arizona Department of Transportation, currently carries a mix of Commerce Park/General Commerce Park and Light Industrial zoning. According to a submitted narrative,…

By BEX Staff for AZBEX The City of Mesa plans to issue requests for qualifications and proposals in the coming months as part of an extensive “brand refresh” for its downtown area. Much of the multi-project plan is being orchestrated in association with Arizona State University. A local news outlet reported the projects under consideration include an eight-story mixed-use building at 51-55 E. Main St., converting a U.S. Postal Service building into a Creative Technology building for ASU, a new post office and a connecting covered path that will be known as The Light Walk. A City official cited “a…

By BEX Staff for AZBEX The Arizona Court of Appeals has ruled “prevailing wage” ordinances by the cities of Phoenix and Tucson violated a 1984 statewide voter approved measure barring the practice. Under prevailing wage rules, employees working on government contracts must be paid at comparable rates to workers in the same field in the same region. Such regulations have been opposed by many construction industry groups, which allege they favor certain groups of workers, are more expensive to taxpayers, are overly burdensome to administer and distort the market. Tucson and Phoenix both passed prevailing wage ordinances after voters twice…

Giving Back 1. The Arizona Association of REALTORS® donated $29K to the Arizona Housing Fund, with $14K funded from proceeds of its Homes for All specialty license plate. The contribution will support housing programs serving more than 13,000 Arizonans experiencing homelessness. Since 2019, the Arizona Housing Fund has granted $1.9M to 11 nonprofit housing projects statewide. 2. Achen-Gardner Construction’s employee-owners supported the Gilbert Feeding Families Food Drive in February, donating nonperishable items to support the local community. 3. Employee-owners from Achen-Gardner Construction recently supported Patterson Elementary School’s Vehicle Career Day in Gilbert. Staff brought a mechanic truck and two CAT…