Author: BEX Staff

Biltmore Fashion Park owner Macerich is planning a 140-foot office tower on the Biltmore site at the NEC of Camelback Road and 24th Street. According to the company’s application with the Phoenix Planning Hearing Officer, the 330KSF, 10-story site will have ground floor retail and office floor plates of 40KSF each. A PHO review is required for buildings planned for more than 112 feet in height. The new tower would be situated toward the SEC of the 32-acre Fashion Park site on space currently occupied by surface parking. Documents submitted with the application show Nelsen Partners is the design firm.…

By Roland Murphy for AZBEX The second half of 2023 saw a slew of articles and market reports noting the post-pandemic travel boom was finally starting to slow. There’s no denying the COVID lockdowns generated a desire in the consumer populace to make up for lost time and missed opportunities. There was also a ratcheting up of the collective sense of mortality that pushed FOMO levels into the red. Of course that initial burst had to die down. Whether it’s tulip bulbs or subdivisions, no bubble lasts forever. Everything normalizes over time. It’s interesting to note, however, how strong demand…

Mack Real Estate Group has submitted an application to buy more than 2,300 acres of land at an Arizona State Land Department auction scheduled for May 29. The site lies at the SWC of Carefree Highway and Interstate 17 and extends south and southwest to two points on the north side of Loop 303. Other entities may bid in the auction if they choose. The minimum bid price has been set at $56.28M. The site is adjacent to the Taiwan Semiconductor Manufacturing Company plant location, which has spurred massive amounts of supporting construction and development in recent years—from TSMC-affiliated suppliers…

The Tempe Development Review Commission recommended two apartment development plans for approval during its Jan. 23 meeting. KB DEVCO is planning Apache Square, a 272-unit apartment complex on 1.95 acres at 1747 E. Apache Blvd. The proposal calls for 99 studios, 96 one-bedroom, 63 two-bedroom and 14 three-bedroom units, along with 4.5KSF of ground floor retail and a parking garage. The other community, Verve Tempe, is planned by Subtext and would build 240 units on 0.9 acres at 1011 E. Orange St. The planned unit mix is set for 153 four-bedroom, 10 one-bedroom, 45 two-bedroom and 13 three-bedroom spaces. The…

Giving Back 1. Melissa Owen, a ranch owner in Sasabe, started organizing State Route 286 cleanups in 1995. She expanded nine years ago to clean the highway from end to end in one day, an event she calls “All the Way to the Border.” On Jan. 27, Owen and 100 volunteers filled bags with litter as part of the cleanup effort. All the Way to the Border is aided by the Arizona Department of Transportation’s Tucson-based Southcentral District, which issues a special permit for the cleanup, and from ADOT’s Three Points Maintenance Yard, which had staff on hand during the…

Sales Transactions 1. Riverside Apts LLC purchased Riverside Suites, a 29KSF investment property at 1725 E. Limberlost Dr. in Tucson. The 33-unit apartment property was purchased from Campbell 33 LLC for $5.15M. Allan Mendelsberg and Joey Martinez with Cushman & Wakefield | PICOR represented both parties. 2. Larsen Baker (as Dorado Opportunity Group, LLC) has paid $3.5M for a nine-building, 71KSF office and medical building campus at 1200 N. El Dorado, Tucson. Larsen Baker’s Isaac Figueroa represented the firm in its purchase. Dave Volk of VOLK Company and Jim Fijan with Transwestern represented seller El Dorado Ventures, LLC. 3. Kerry…

The Tempe Development Review Commission has recommended approval for a rezoning request from LV Collective to rezone a former Super 8 Motel property near Apache Blvd. and Rural Road to allow for the development of a 289-unit, 15-story apartment community. 1020 Apache would feature 36 studio, 36 one-bedroom, 47 two-bedroom, 17 three-bedroom and 153 four-bedroom units, along with approximately 3KSF of ground floor restaurant/retail space. The City of Tempe had used some of the motel rooms as transitional shelter space for members of the area’s homeless community. Those temporary residents were relocated to other facilities last month. Officials with LV…

By GTIS Partners GTIS Partners and Clyde Capital have announced the development of Asante Trails—a $250M mixed-use, master-planned community in Surprise. The project will include a build-to-rent community, retail space and a medical facility and will be built across 90 acres of land acquired by GTIS and Clyde. In conjunction with the land acquisition, GTIS and Clyde sold 20 acres within the project to HonorHealth to develop the medical facility. Forty-five acres will be allocated to a joint venture between Clyde and SimonCRE to establish a multi-phase retail center. GTIS will retain the 25-acre balance of the site for a…

By Roland Murphy for AZBEX – BEXCLUSIVE Water is the only outside consumable allowed in the auditorium at the Arizona Heritage Center in Tempe. Attendees of the initial session of BEX’s 2024 Construction Activity Forecast event this week wouldn’t have noticed, as they were hit with firehose-sized volumes of data from Minute 1. Following the format and structure attendees have come to know and love, BEX Founder and President Rebekah Morris welcomed the audience and then launched into her ever-engaging overview of historical and current economic and construction market conditions, with current rates of change and quickfire causal explanations that…

By BEX Staff for AZBEX Plans to bring Arizona’s first Buc-ee’s retail and travel center to a 71-acre property at the SEC of Interstate 10 and Bullard Avenue in Goodyear moved a step closer to reality last week when the Goodyear Planning and Zoning Commission voted to recommend a rezoning request for the site. Media reports say the west side of the property would feature a 75.4KSF Buc-ee’s retail store with a service station. Buc-ee’s is a popular chain across the south, particularly in Texas, and offer large footprint retail/convenience stores with a wider array of products and services than…