Author: BEX Staff

Republic Services Inc. is making progress on its planned nearly 250KSF new headquarters at City North in Phoenix. The company recently signed a 25-year lease and joint development agreement for the new location. Earlier this month, City North developer Crown Realty and Development sold nearly seven acres at City North to U.S. Realty Advisors. Allied Waste North America LLC, a Republic Services entity, signed a 25-year lease with two 10-year renewal options with U.S. Realty Advisors. Representatives confirmed U.S. Realty Advisors will provide build-to-suit funding for the new headquarters. U.S. Realty Advisors and Crown Realty and Development have signed a…

By City of Tempe Increasing funds for affordable housing, protecting Tempe’s historic places and restoring all of Tempe’s streets may be on the ballot this November as part of a proposed bond election. Councilmembers heard information about leveraging bonds to increase affordable housing opportunities and preserve and maintain Tempe’s historic places at the Feb. 8 Work Study Session. Affordable Housing The City of Tempe has invested $72M in housing solutions as well as assistance to the community’s unsheltered population. To accelerate the city’s affordable housing efforts, an additional $32M is being requested, $8M annually for four years. The cost of…

Groundbreakings 1. Earlier this month, 29th Street Capital hosted a groundbreaking for two of its projects in Goodyear: the 408-unit multifamily community The Artesian Apartments and the 187-unit Build-to- Rent development Artesian BTR. 2. Creation Equity broke ground on the $60M Thunderbird Commerce Park—a 243.4KSF, single-building industrial development located on 18 acres within Scottsdale Airpark. The expected completion date is early 2025. 3. Arizona Department of Transportation began construction on the $38.5M project dubbed US60X, a five-mile stretch of Main Street in Mesa. Construction is expected to take two years to complete. The project includes sidewalk, curb, gutter, bike lane…

A solar power facility that will also feature the United States’ first cobalt sulfate production facility has been granted a special use permit by the Yuma County Board of Supervisors. The facility will be built on 138 acres of vacant desert at the NWC of the alignment of Avenue 47½ E and Old Highway 80. Cobalt is an essential component in manufacturing batteries for electronic vehicles. Most cobalt is currently produced in Africa and processed in China. The planned facility from EVelution Energy will be the first in the U.S., and company officials say their goal is to move cobalt…

By Roland Murphy for AZBEX EcoVista Development LLC is requesting a rezoning and final plat for a 42.9-acre site at 163rd Avenue and Jomax Road in Surprise to create a mixed-use development featuring 13.3 net acres of commercial and 26.8 net acres of multifamily residential. Known as Desert Arroyo, the site is currently comprised of 10 parcels. Approximately 20 acres are part of the Legacy Village Planned Area Development and zoned for commercial uses. The remainder is zoned for rural residential. Under the request, the portion nearest the intersection would receive the commercial designation, with the planned residential being placed…

The Arizona Corporation Commission voted last week to have staff draft rules to repeal the Renewable Energy Standard and Tariff requiring electric utilities to get at least 15% of their energy from renewable resources by next year. The measure was enacted in 2006. The Commission’s latest action would also repeal a 2010 requirement setting 22% energy savings for gas and electric utilities. The move will now start a set of hearings that will last into 2025 to solicit comments from the public and stakeholders. Commissioners supporting the change say the requirements have been too expensive for customers, with data showing…

By Roland Murphy for AZBEX – BEXCLUSIVE A recently released report from LGE Design Build shows metro Phoenix continues to maintain its status as a national construction and development leader, even though the market is as affected by national trends and economic conditions as any other. In its Q4 2023/Q1 2024 Construction Delivery Outlook, LGE reports Phoenix has officially become a rising tech hub. VP of Preconstruction Blake Wells writes in the introduction, “The growth of the semiconductor industry in Phoenix reflects a pivotal role for technology without direct reference to national initiatives.” Discussing core market demand, the report credits…

Company News 1. Sun State Builders announced Mike Forst and Andrea Piering are now the sole owners, following Jim Chamberlain’s retirement. Both Forst and Piering have worked for Sun State Builders for 25 years prior to gaining ownership. 2. Kraus-Anderson Construction Co. acquired Sonoran Crest Construction, marking its first acquisition in its 126-year history. All 11 employees of Sonoran Crest will transfer their jobs to Kraus-Anderson. Promotions 3. EMC2 Group, Inc. recently announced three promotions. Dave Gornick was promoted to Chief Operating Officer, and Fredy Pimental and Derron Bowyer were promoted to Principal. 4. Jennifer C. Thies has been promoted…

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…