Author: BEX Staff

Awards & Accolades 1. Cushman & Wakefield | PICOR recently held its Annual Awards event at the Tucson Country Club to highlight and celebrate its team’s achievements in the past year. Award recipients included: Paul Hooker –President’s Award for Excellence; Angie Benedict –Peter H. Douglas Heart & Soul Award; Rick Kleiner –Winner’s Circle #1 Producer; Allan Mendelsberg –Winner’s Circle #2 Producer; Aaron LaPrise –Winner’s Circle #3 Producer; Steve Cohen –Top Industrial Producer; Aaron LaPrise – Top Retail Producer; Rick Kleiner – Top Office/Medical Producer; Allan Mendelsberg & Joey Martinez – Top Multifamily Producer; Jessica Abeyta –Manager of the Year; Debbie…

Sales Transactions 1. Continental Realty Group purchased the Copper Point Apartments at 1111 E. Brown Road in Mesa for $24.7M. Continental Realty intends to invest an additional $1.3M in renovating the 107-unit multifamily community. At the time of sale, the property was 94.5% occupied. 2. Hudson Place, a 55.4KSF commercial property comprising 15 buildings at 2405 E. Southern Ave. in Tempe, officially sold in an $11.5M transaction. The undisclosed seller was represented by Marina Hammersmith and Tyrel Williams of M | T HealthcaRE Partners at Medical Office Brokers. 3. A 31.1KSF manufacturing space at 234 E. Mohave St. in Phoenix…

By Roland Murphy for AZBEX Part of the Black Angus Mine site, an open pit aggregate materials mine southeast of Tucson, could see a new future as a commercial and residential hub under a plan currently before the Pima County Planning and Zoning Commission. Owners Diamond Ventures and Rocking K Development Co. are requesting a comprehensive plan amendment and specific plan rezoning for a 62-acre property west of Valencia Road and Old Spanish Trail. The total Black Angus site is 251 acres and is approximately 95% graded, according to the submittal. Planned and potential uses include “retail sales, personal services,…

The City of Sedona is selling a property at 401 Jordan St. to the Sedona Fire District and buying 1.8 acres at 2411 State Route 89A that could be used for an affordable housing development of 36-40 units. The City’s housing reserves of $18M are committed to other projects, but funds could be transferred from a balance of funds allocated for a roundabout project. The estimated purchase price would be $1.99M plus $25K in closing costs. Housing Manager Jeanne Blum told the Sedona City Council the property has a high likelihood of securing a 9% Low-Income Housing Tax Credit if…

By Roland Murphy for AZBEX The Scottsdale Development Review Board will meet this week to discuss a 267KSF office and warehouse proposal on 16.7 acres in north Scottsdale’s Perimeter Center, adjacent to Princess Drive and Loop 101. AZBEX first reported on the plan from Creation RE/PE almost exactly one year ago. (AZBEX; Feb. 20, 2024) Over that time, plans have changed slightly, including minor alterations to the sizes of the four planned buildings. According to the latest site plans, there will now be one building of 101.8KSF, another of 54.3KSF, and two of 55.5KSF. The original plan called for one…

By National Association of Home Builders Builder sentiment fell sharply in February over concerns on tariffs, elevated mortgage rates and high housing costs. Builder confidence in the market for newly built single-family homes was 42 in February, down five points from January and the lowest level in five months, according to the National Association of Home Builders/Wells Fargo Housing Market Index. “While builders hold out hope for pro-development policies, particularly for regulatory reform, policy uncertainty and cost factors created a reset for 2025 expectations in the most recent HMI,” said NAHB Chairman Carl Harris. “Uncertainty on the tariff front helped…

Groundbreakings 1. Work officially commenced on the Lone Tree Corridor Projectalong Butler Avenue and Lone Tree Road in Flagstaff on Feb. 18. This is the first phase of the LoneTree Overpass project, which will result in the creation of a north-south roadway connection extending Lone Tree Road to Route 66 via a bridge. Phase One is slated to reach completion in 2026. Ames Construction is the contractor. Funding was acquired through Proposition 419 and Proposition 420. 2. Willmeng and the Daisy Mountain Fire and Medical Department held a groundbreaking ceremony to mark the start of construction on Fire Station 144.…

This week BEX celebrates our 15th anniversary. I could not be more thrilled to still be in business and, more importantly, still enjoying the ride. I thank everyone in this industry, and especially the team behind me, for letting me live out my dream. I am not a huge fan of overly sappy reflective pieces. They are just not me, but I appreciate the opportunity to reflect on the last year in my own way. Strongest Team We’ve Ever Had The highlight of the year is easily the team. This is the strongest, most cohesive and most effective staff BEX…

By Roland Murphy for AZBEX (BEXclusive) Allante Properties has requested the City of Phoenix rezone 2.18 acres at the SWC of Peoria Avenue and Cave Creek Road to enable the development of a 240-unit multifamily development called Valle View. The total project area consists of 5.2 acres. The portion covered by the request is currently zoned C-2 intermediate commercial. The request would change the zoning to R-5 multifamily residential. The development plan calls for one multifamily building of up to 48 feet in height with an associated parking garage. According to the staff report on the project, “The subject site,…

With the design schedule currently six months behind its original target, the Town of Florence and Pinal County are moving to ensure the final segment of multi-phase project to widen Hunt Highway gets underway by next summer. A Feb. 10 work session between the Florence Town Council and Planning and Zoning Commission discussed statuses, challenges and solutions for widening the road into Florence. Pinal has spent more than $100M improving other portions of Hunt Highway, and County officials say the remaining $40M section is a priority. Florence and the County entered into an agreement in May 2023 to share design…